Recruitment Process Outsourcing Market size to grow by USD 4.55 bn | North America to Occupy 41% Market Share | Technavio

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NEW YORK, Dec. 9, 2021 /PRNewswire/ -- The recruitment process outsourcing market is expected to observe maximum growth in North America during the forecast period. Businesses in the region are making significant investments in the latest technologies such as cloud computing, AI, and RPA to enhance the quality of their products and services.

Attractive Opportunities in Recruitment Process Outsourcing Market by End-user and Geography - Forecast and Analysis 2021-2025
Attractive Opportunities in Recruitment Process Outsourcing Market by End-user and Geography - Forecast and Analysis 2021-2025

Also, many businesses across industries such as healthcare, banking, and telecommunication sectors, among others are highly investing in BPO companies to focus on their key business operations, including recruitment. All these factors are expected to generate significant growth opportunities for recruitment process outsourcing service providers in North America during the forecast period.

Technavio's 120-page report analyzes the recruitment process outsourcing market by End-user (IT and telecom, Manufacturing, BFSI, Healthcare, and Others) and Geography (North America, Europe, APAC, MEA, and South America). According to the report, the market will observe an incremental growth of USD 4.55 billion between 2020 and 2025, accelerating at a CAGR of 13.51% during the forecast period.

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The recruitment process outsourcing market growth will be driven by the need for reducing operational costs by streamlining the hiring process. Businesses across the world are actively approaching recruitment process outsourcing (RPO) companies to reduce their cost per hire. RPO firms help businesses streamline the hiring process by reducing the supply-demand imbalance in the market. Outsourcing of the recruitment process also helps businesses to share the price-associated risks with their RPO partners. Such benefits are encouraging businesses to actively look out for recruitment process outsourcing firms, which is driving the growth of the market.

In addition, the increased use of neo-sourcing is expected to have an accelerating effect on the growth of the market. However, the risk of overdependence on a single vendor might reduce the growth potential in the market.

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Major Five Recruitment Process Outsourcing Companies:

Accenture Plc:
The company offers recruitment process outsourcing solutions that help HR leaders achieve business outcomes through tailored solutions that embed data and analytics, artificial intelligence, and consumer-centric digital channels into the employee experience, under the brand name Accenture.

Alexander Mann Solutions:
The company offers recruitment process outsourcing solutions that design, build, and run a fully optimized talent acquisition capability, under the brand name Alexander Mann Solutions.

Allegis Group:
The company offers recruitment process outsourcing solutions that include talent acquisition strategy development, sourcing talent mapping, screening assessments selection, program performance tracking and reporting, internal candidate management, digital recruiting and social media strategy, and many more activities, under the brand name Allegis.

AMN Healthcare Services Inc.:
The company offers recruitment process outsourcing solutions that streamline permanent workforce planning and recruitment process through one efficient, agile solution by providing technology and data intelligence that enable sustainable, long-term improvement, under the brand name AMN Healthcare.

Automatic Data Processing Inc.:
The company offers recruitment process outsourcing solutions using data, experience, and scalability to help improve quality of hire and process efficiency, while managing complex business needs and aggressive timelines, under the brand name of ADP.

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Recruitment Process Outsourcing Market End-user Outlook (Revenue, USDBn, 2020-2025)

  • IT and telecom - size and forecast 2020-2025

  • Manufacturing - size and forecast 2020-2025

  • BFSI - size and forecast 2020-2025

  • Healthcare - size and forecast 2020-2025

  • Others - size and forecast 2020-2025

Recruitment Process Outsourcing Market Geography Outlook (Revenue, USD Bn, 2020-2025)

  • North America - size and forecast 2020-2025

  • Europe - size and forecast 2020-2025

  • APAC - size and forecast 2020-2025

  • MEA - size and forecast 2020-2025

  • South America - size and forecast 2020-2025

Related Reports:
Recruitment Process Outsourcing (RPO) Market in APAC by End-user, Service, and Geography - Forecast and Analysis 2021-2025
Human Capital Management Solutions Market by Application and Geography - Forecast and Analysis 2021-2025

Recruitment Process Outsourcing Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.51%

Market growth 2021-2025

USD 4.55 billion

Market structure

Fragmented

YoY growth (%)

7.34

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 41%

Key consumer countries

US, UK, Canada, Australia, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Alexander Mann Solutions, Allegis Group, AMN Healthcare Services Inc., Automatic Data Processing Inc., Deloitte Touche Tohmatsu Ltd., Hudson Global Inc., Infosys Ltd., International Business Machines Corp., and Randstad Sourceright EMEA B.V.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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