IMARC Group, a leading market research company, has recently releases report titled “Recruitment Process Outsourcing (RPO) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global recruitment process outsourcing (RPO) market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the recruitment process outsourcing (RPO) market?
The global recruitment process outsourcing (RPO) market size reached US$ 6.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.98 Billion by 2028, exhibiting a growth rate (CAGR) of 18.25% during 2023-2028.
What are recruitment process outsourcing (RPO)?
Recruitment Process Outsourcing, often abbreviated as RPO, represents a strategic business approach in which companies delegate some or all of their recruitment procedures to external service providers. These RPO providers function as an extension of the organization’s HR department, overseeing various aspects of the recruitment journey, including candidate sourcing, screening, interviewing, and onboarding.
RPO providers leverage cutting-edge technologies, data analytics, and industry-leading methods to deliver comprehensive recruitment solutions customized to their clients’ specific requirements. Through RPO, businesses can concentrate on their primary strengths while relying on seasoned professionals to handle the recruitment process, ultimately resulting in more efficient talent acquisition and a competitive edge in the marketplace.
What are the growth prospects and trends in the recruitment process outsourcing (RPO) industry?
The rising complexity of talent acquisition and the intensifying competition for skilled professionals are prompting companies to seek external expertise for their recruitment needs. In addition to this, Recruitment Process Outsourcing (RPO) providers bring specialized knowledge, extensive networks, and innovative strategies to the table, helping organizations overcome recruitment challenges and secure top-tier employees. The globalization of businesses and the demand for talent acquisition on a global scale are further propelling the need for RPO services.
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Furthermore, the increasing adoption of digital technologies and data-driven recruitment solutions is shaping the RPO market. The surge in flexible workforce models, such as contingent and project-based hiring, is also spurring the demand for RPO, as these providers offer scalable solutions to assist organizations in managing their workforce requirements, ensuring flexibility and adaptability in today’s ever-changing business environment. Moreover, the growing emphasis on employer branding and candidate experience is exerting a significant influence on the RPO market. As a result, the RPO market is set for continued growth, with organizations recognizing the strategic advantages of outsourcing their recruitment processes, enabling them to optimize talent acquisition, enhance competitiveness, and achieve long-term business success.
Who are the key players operating in the industry?
The report covers the major market players including:
- Alexander Mann Group Limited
- Automatic Data Processing
- Cielo Inc.
- Hudson Global Inc.
- IBM Corporation
- Korn Ferry
- ManpowerGroup
- PeopleScout Inc. (Trueblue Inc.)
- Pontoon Solutions Inc. (The Adecco Group)
- Randstad N.V.
- Sevenstep
- WilsonHCG
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- On-demand RPO
- Function-based RPO
- Enterprise RPO
Service Insights:
- On-site
- Off-site
Enterprise Size Insights:
- Small and Medium Enterprises
- Large Enterprises
End Use Insights:
- BFSI
- Healthcare
- Manufacturing
- IT and Telecom
- Education
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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