Human Resource Outsourcing Market by Type (Business Process HR Outsourcing, Shared Services HR Outsourcing, Single Source HR Outsourcing), Services (Hiring & Recruitment, Labor Laws & Legal Compliance, Payroll & Compensation Management), Organization Size, End-User - Global Forecast 2023-2030
The Human Resource Outsourcing Market size was estimated at USD 17.48 billion in 2022 and expected to reach USD 18.65 billion in 2023, at a CAGR 7.48% to reach USD 31.14 billion by 2030.
Market Segmentation & Coverage:
This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Human Resource Outsourcing Market.
- Based on Type, market is studied across Business Process HR Outsourcing, Shared Services HR Outsourcing, Single Source HR Outsourcing, and Software-as-a-Service HR Outsourcing. The Single Source HR Outsourcing commanded largest market share of 28.35% in 2022, followed by Software-as-a-Service HR Outsourcing.
- Based on Services, market is studied across Hiring & Recruitment, Labor Laws & Legal Compliance, Payroll & Compensation Management, Safety & Health, and Training & Development. The Hiring & Recruitment commanded largest market share of 23.81% in 2022, followed by Training & Development.
- Based on Organization Size, market is studied across Large Enterprise and Small & Medium Enterprise. The Large Enterprise commanded largest market share of 66.77% in 2022, followed by Small & Medium Enterprise.
- Based on End-User, market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology & Telecommunication, Manufacturing, Media & Entertainment, and Travel & Hospitality. The Consumer Goods & Retail commanded largest market share of 15.65% in 2022, followed by Information Technology & Telecommunication.
- Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 39.83% in 2022, followed by Europe, Middle East & Africa.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is an indispensable tool for assessing the Human Resource Outsourcing Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.
Market Share Analysis:
The Market Share Analysis offers invaluable insights into the vendor landscape Human Resource Outsourcing Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.
Key Company Profiles:
The report delves into recent significant developments in the Human Resource Outsourcing Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, ADP LLC, Alight Solutions, LLC, Allsec Technologies Limited by Quess Corp., AON PLC, Bambee, Inc., Bamboo HR LLC, Ceridian HCM, Inc., CGI Group, Inc., Cielo, Inc., Equifax, Inc., G&A Partners, General Outsourcing Public Company Limited, Infosys Limited, Insperity, Inc., International Business Machines Corporation, Intuit, Inc., Justworks, Inc., ManpowerGroup, Mercer, LLC, Namely, Paychex, Inc., Randstad Holding NV, Rippling People Center Inc., The ADECCO Group, TriNet Zenefits, UKG Inc., Wipro Limited, Zalaris ASA, and ZenPayroll, Inc..
The report offers valuable insights on the following aspects:
- Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.
- Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast for the Human Resource Outsourcing Market?
- Which products, segments, applications, and areas hold the highest investment potential in the Human Resource Outsourcing Market?
- What is the competitive strategic window for identifying opportunities in the Human Resource Outsourcing Market?
- What are the latest technology trends and regulatory frameworks in the Human Resource Outsourcing Market?
- What is the market share of the leading vendors in the Human Resource Outsourcing Market?
- Which modes and strategic moves are suitable for entering the Human Resource Outsourcing Market?
Note: PDF & Excel + Online Access - 1 Year
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Human Resource Outsourcing Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing use of human resource outsourcing in IT and hospitality sector
- 5.1.1.2. Rising digitization of human resource outsourcing
- 5.1.1.3. Growing adoption of recruitment analytics
- 5.1.2. Restraints
- 5.1.2.1. Concerns related to increased dependence on outsourcing agencies
- 5.1.3. Opportunities
- 5.1.3.1. Implementation of IoT, cloud computing, and big data human resource outsourcing
- 5.1.3.2. Integration of cloud-based services and social media into the recruitment process
- 5.1.4. Challenges
- 5.1.4.1. Privacy and security concerns in human resource outsourcing
- 5.2. Market Segmentation Analysis
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of COVID-19
- 5.5. Cumulative Impact of Russia-Ukraine Conflict
- 5.6. Cumulative Impact of High Inflation
- 5.7. Porter’s Five Forces Analysis
- 5.7.1. Threat of New Entrants
- 5.7.2. Threat of Substitutes
- 5.7.3. Bargaining Power of Customers
- 5.7.4. Bargaining Power of Suppliers
- 5.7.5. Industry Rivalry
- 5.8. Value Chain & Critical Path Analysis
- 5.9. Regulatory Framework
- 5.10. Client Customization
- 6. Human Resource Outsourcing Market, by Type
- 6.1. Introduction
- 6.2. Business Process HR Outsourcing
- 6.3. Shared Services HR Outsourcing
- 6.4. Single Source HR Outsourcing
- 6.5. Software-as-a-Service HR Outsourcing
- 7. Human Resource Outsourcing Market, by Services
- 7.1. Introduction
- 7.2. Hiring & Recruitment
- 7.3. Labor Laws & Legal Compliance
- 7.4. Payroll & Compensation Management
- 7.5. Safety & Health
- 7.6. Training & Development
- 8. Human Resource Outsourcing Market, by Organization Size
- 8.1. Introduction
- 8.2. Large Enterprise
- 8.3. Small & Medium Enterprise
- 9. Human Resource Outsourcing Market, by End-User
- 9.1. Introduction
- 9.2. Aerospace & Defense
- 9.3. Automotive & Transportation
- 9.4. Banking, Financial Services & Insurance
- 9.5. Building, Construction & Real Estate
- 9.6. Consumer Goods & Retail
- 9.7. Education
- 9.8. Energy & Utilities
- 9.9. Government & Public Sector
- 9.10. Healthcare & Life Sciences
- 9.11. Information Technology & Telecommunication
- 9.12. Manufacturing
- 9.13. Media & Entertainment
- 9.14. Travel & Hospitality
- 10. Americas Human Resource Outsourcing Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Human Resource Outsourcing Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Human Resource Outsourcing Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. FPNV Positioning Matrix
- 13.2. Market Share Analysis, By Key Player
- 13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. Merger & Acquisition
- 13.3.1.1. Allsec Technologies Limited To Merge Into Quess Corp Limited
- 13.3.2. Agreement, Collaboration, & Partnership
- 13.3.2.1. Zalaris Signs a Landmark Agreement With Carve-Out from German Industrial Giant for Global Payroll and HR Services
- 13.3.3. Investment & Funding
- 13.3.3.1. RFE Announces Major Investment in Innovative HR Outsourcing Solutions Company Congruity HR
- 13.3.4. Award, Recognition, & Expansion
- 13.3.4.1. HR Path Continues to Expand with the Merger of US-based Company Terra Information Group.
- 13.3.4.2. G&A Partners acquires HR outsourcing provider in Iowa
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.1.1. Accenture PLC
- 14.1.2. ADP LLC
- 14.1.3. Alight Solutions, LLC
- 14.1.4. Allsec Technologies Limited by Quess Corp.
- 14.1.5. AON PLC
- 14.1.6. Bambee, Inc.
- 14.1.7. Bamboo HR LLC
- 14.1.8. Ceridian HCM, Inc.
- 14.1.9. CGI Group, Inc.
- 14.1.10. Cielo, Inc.
- 14.1.11. Equifax, Inc.
- 14.1.12. G&A Partners
- 14.1.13. General Outsourcing Public Company Limited
- 14.1.14. Infosys Limited
- 14.1.15. Insperity, Inc.
- 14.1.16. International Business Machines Corporation
- 14.1.17. Intuit, Inc.
- 14.1.18. Justworks, Inc.
- 14.1.19. ManpowerGroup
- 14.1.20. Mercer, LLC
- 14.1.21. Namely
- 14.1.22. Paychex, Inc.
- 14.1.23. Randstad Holding NV
- 14.1.24. Rippling People Center Inc.
- 14.1.25. The ADECCO Group
- 14.1.26. TriNet Zenefits
- 14.1.27. UKG Inc.
- 14.1.28. Wipro Limited
- 14.1.29. Zalaris ASA
- 14.1.30. ZenPayroll, Inc.
- 14.2. Key Product Portfolio
- 15. Appendix
- 15.1. Discussion Guide
- 15.2. License & Pricing
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