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Global Recruitment Process Outsourcing (RPO) Industry Market Dynamics & Strategic Insights 2021-2030
Recruitment Process Outsourcing is a form of business process outsourcing, where an employer transfers all or part of its recruitment processes to a third-party service provider. It provider can provide its own or may assume the company's staff, technology, methodologies, and reporting to the organization. Organizations that provide recruitment process outsourcing services perform various tasks such as consistently monitoring vacancies, posting jobs online, tracking applications, processing resumes, searching for new candidates or resumes, screening, short-listing suitable candidates, maintaining the database, resume marketing, and finding capable recruiters.
Global Recruitment Process Outsourcing (RPO) Market іѕ ѕеgmеntеd on the bаѕіѕ оf Service (MCRPO, Blended RPO) End-Users (Telecom, Healthcare, Services, Energy, Manufacturing, BFSI) and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Recruitment Process Outsourcing (RPO) Market wаѕ vаluеd аt UЅD 6,253.7 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 29.4 % frоm 2021 tо 2030.
The report on Global Recruitment Process Outsourcing (RPO) Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Recruitment Process Outsourcing (RPO) Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Recruitment Process Outsourcing (RPO) Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Recruitment Process Outsourcing (RPO) Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Recruitment Process Outsourcing (RPO) Market.
Market Dynamics:
Increasing numbers of fresh graduates and postgraduates have created an increased need for such services globally is a major factor expected to drive the growth of the global market. Increasing acceptance of cloud- and web-based services and software solutions are helping in the restructuring of recruitment process outsourcing, and this is expected to further increase over the forecast period. Also, the Increasing need for an effective recruiting process and reduction in overhead costs are the two factors driving the market growth. The Recruitment Process Outsourcing (RPO) service providers perform several tasks, from sourcing to selecting candidates and maintaining the quality of recruits. Service providers are implementing innovative technologies such as Artificial Intelligence (AI) and Machine Learning (ML) for self-scheduling interviews and automated screening of CVs to enhance their capabilities. Service providers are further channelizing on better candidate engagement through chatbots and other assessment tools. AI is expected to be a game-changer in the recruitment industry. It automates several tasks such as candidate sourcing, candidate rediscovery, employee reference, and diversity hiring to improve strategic workforce planning is another factor expected to fuel the growth of the global market.
However, the labor shortage and difficulty in finding just-in-time talent are factors expected to restrain the growth of the companies.
Segmental Analysis:
Among the service segments, the blended RPO segment is accounted for a major revenue share and is expected to maintain its dominance in the global market. This is attributed to a combined recruitment process outsourcing solution that blends two HR functionality – permanent hiring and contingent staffing. It makes a total talent acquisition solution that benefits organizations by saving time, resources, and cost.
Among the end-users segment, the BFSI segment is expected to dominate the target market, owing to digital disruptions, changing operating models, and new firms entering the market. The healthcare sector is expected to register a significant CAGR in the global market over the forecast period. This is relatively diverse, ranging from hospitals, enterprises, home health care services, community care facilities for elders, and medical and diagnostic labs. All these healthcare verticals require a skilled workforce to operate in a regulated environment.
Regional Analysis:
North America market is expected to account for major revenue share and is expected to register faster growth in terms of revenue in the global market. Moreover, the healthcare and manufacturing sectors are generating new employment opportunities across the country, with healthcare as one of the fastest-growing sectors. The Europe RPO market is expected to register moderate growth over the forecast period due to increasing acceptance of RPO services in countries such as France, Germany, the UK, and the Netherlands.
Global Recruitment Process Outsourcing (RPO) Market Segmentation:
Segmentation by Service:
• MCRPO
• Blended RPO
Segmentation by End-Users:
• Telecom
• Healthcare
• Services
• Energy
• Manufacturing
• BFSI
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Seven Step RPO
Argus Recruitment Solutions
Randstad Holding Company
Pinstripe Inc.
Pontoon Solutions
Futurestep
Accolo Inc.
Alexander Mann Solutions
TalentFusion
The Rightthing
Global Recruitment Process Outsourcing (RPO) Market іѕ ѕеgmеntеd on the bаѕіѕ оf Service (MCRPO, Blended RPO) End-Users (Telecom, Healthcare, Services, Energy, Manufacturing, BFSI) and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Recruitment Process Outsourcing (RPO) Market wаѕ vаluеd аt UЅD 6,253.7 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 29.4 % frоm 2021 tо 2030.
The report on Global Recruitment Process Outsourcing (RPO) Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Recruitment Process Outsourcing (RPO) Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Recruitment Process Outsourcing (RPO) Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Recruitment Process Outsourcing (RPO) Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Recruitment Process Outsourcing (RPO) Market.
Market Dynamics:
Increasing numbers of fresh graduates and postgraduates have created an increased need for such services globally is a major factor expected to drive the growth of the global market. Increasing acceptance of cloud- and web-based services and software solutions are helping in the restructuring of recruitment process outsourcing, and this is expected to further increase over the forecast period. Also, the Increasing need for an effective recruiting process and reduction in overhead costs are the two factors driving the market growth. The Recruitment Process Outsourcing (RPO) service providers perform several tasks, from sourcing to selecting candidates and maintaining the quality of recruits. Service providers are implementing innovative technologies such as Artificial Intelligence (AI) and Machine Learning (ML) for self-scheduling interviews and automated screening of CVs to enhance their capabilities. Service providers are further channelizing on better candidate engagement through chatbots and other assessment tools. AI is expected to be a game-changer in the recruitment industry. It automates several tasks such as candidate sourcing, candidate rediscovery, employee reference, and diversity hiring to improve strategic workforce planning is another factor expected to fuel the growth of the global market.
However, the labor shortage and difficulty in finding just-in-time talent are factors expected to restrain the growth of the companies.
Segmental Analysis:
Among the service segments, the blended RPO segment is accounted for a major revenue share and is expected to maintain its dominance in the global market. This is attributed to a combined recruitment process outsourcing solution that blends two HR functionality – permanent hiring and contingent staffing. It makes a total talent acquisition solution that benefits organizations by saving time, resources, and cost.
Among the end-users segment, the BFSI segment is expected to dominate the target market, owing to digital disruptions, changing operating models, and new firms entering the market. The healthcare sector is expected to register a significant CAGR in the global market over the forecast period. This is relatively diverse, ranging from hospitals, enterprises, home health care services, community care facilities for elders, and medical and diagnostic labs. All these healthcare verticals require a skilled workforce to operate in a regulated environment.
Regional Analysis:
North America market is expected to account for major revenue share and is expected to register faster growth in terms of revenue in the global market. Moreover, the healthcare and manufacturing sectors are generating new employment opportunities across the country, with healthcare as one of the fastest-growing sectors. The Europe RPO market is expected to register moderate growth over the forecast period due to increasing acceptance of RPO services in countries such as France, Germany, the UK, and the Netherlands.
Global Recruitment Process Outsourcing (RPO) Market Segmentation:
Segmentation by Service:
• MCRPO
• Blended RPO
Segmentation by End-Users:
• Telecom
• Healthcare
• Services
• Energy
• Manufacturing
• BFSI
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Seven Step RPO
Argus Recruitment Solutions
Randstad Holding Company
Pinstripe Inc.
Pontoon Solutions
Futurestep
Accolo Inc.
Alexander Mann Solutions
TalentFusion
The Rightthing
Scope:
| Report Data | Market |
| Forecast 2022 | XX million/billion (2022-2032) |
| CAGR 2022 - 2032 | % |
| Analysis Period | 2022 - 2032 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2032 |
| Segments Covered | By Type, By Application, And by Regions |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | . |
| Key Segments | By Type By Applications |
| Report Coverage | Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Frequently Asked Questions
What is the future market value of the ?
The current market value for is expected USD XX million/billion by 2022.
What is the CAGR of the Market?
The is to grow at a CAGR of 5.3% during the forecast by 2032.
What is the Market segment?
On the basis of type, the is segmented into Types.
Who are the key players operating in the ?
The major players operating in the are Company.
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