Global Employer of Record Market Growth (Status and Outlook) 2023-2029

Global Employer of Record Market Growth (Status and Outlook) 2023-2029

An Employer of Record (EOR) is a third-party organization that takes responsibility for all formal employment tasks on behalf of another company. The EOR allows companies to legally and efficiently engage with overseas workers either in a new country or state, without having to set up a local entity or risk violating local employment laws. Hiring an EOR gives the client’s company the opportunity to manage their time more efficiently and effectively.
In businesses expanding market, also come across terms: Professional Employment Organization (PEO) and Global Employment Organization (GEO). A Professional Employment Organization (PEO) also known as an International/Global PEO, allows an enterprise to hire employees in a foreign market without the need of setting up a local entity. Although quite similar to an Employer of Record, a PEO is a service firm that generally offers a more comprehensive range of HR services. A Global Employment Organization (GEO) has properties of an EOR but is more similar to a PEO, in that it allows for the administrative HR burden to be removed from a client and instead be managed by a Global Employment Organization.
Some firms take Employer of Record (EOR) business same as PEO and we abide this attribution in corresponding situation.
LPI (LP Information)' newest research report, the “Employer of Record Industry Forecast” looks at past sales and reviews total world Employer of Record sales in 2022, providing a comprehensive analysis by region and market sector of projected Employer of Record sales for 2023 through 2029. With Employer of Record sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Employer of Record industry.
This Insight Report provides a comprehensive analysis of the global Employer of Record landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Employer of Record portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Employer of Record market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Employer of Record and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Employer of Record.
The global Employer of Record market size is projected to grow from US$ 4205.6 million in 2022 to US$ 6777.2 million in 2029; it is expected to grow at a CAGR of 7.1% from 2023 to 2029.
The major players in global employer of record market include Adecco, Randstad, etc. The top 5 players occupy about 15% shares of the global market.North America is main markets, which occupies about 44% of the global market.In terms of product, aggregator model is the largest segment, with a share over 65%. And in terms of application, the largest application is SMEs, followed by large enterprises.
This report presents a comprehensive overview, market shares, and growth opportunities of Employer of Record market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Aggregator Model
Wholly Owned Infrastructure Model
Segmentation by application
SMEs
Large Enterprises
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Adecco
Randstad
Aquent
FoxHire
Infotree Global
Safeguard Global
Velocity Global
Globalization Partners
Shield GEO
Acumen International
Remote Team (Gusto)
Deel
Remote Technology
Elements Global Services
Papaya Global
Universal Hires
CIIC
Links International
New Horizons Global Partners
Sky Executive

Please note: The report will take approximately 2 business days to prepare and deliver.