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HUMAN RESOURCE OUTSOURCING (HRO)

Global Market Trajectory & Analytics

MCP-1516

VALIDATED EXECUTIVE ENGAGEMENTS

POOL + OUTREACH

19092
Number of executives repeatedly engaged by snail & email outreach

INTERACTIONS

1909
Interactions with Platform & by Email

PARTICIPANTS

382
Unique # Participated

VALIDATIONS

172
Responses Validated*
* Login to view program details and full enterprise executive list.

DATE

AUGUST 2020

TABLES

63

PAGES

281

EDITION

16

PRICE

USD $5600


GLOBAL EXECUTIVE SURVEY

Impact of Pandemic & Economic Slowdown

Monitor Market Dynamics!

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Amid the COVID-19 crisis, the global market for Human Resource Outsourcing (HRO) estimated at US$32.8 Billion in the year 2020, is projected to reach a revised size of US$45.8 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Payroll Services, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$21.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Benefits Administration Services segment is readjusted to a revised 5.2% CAGR for the next 7-year period.
The Human Resource Outsourcing (HRO) market in the U.S. is estimated at US$9.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.2 Billion by the year 2027 trailing a CAGR of 4.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.
In the global Education & Training Services segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$3.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.1 Billion by the year 2027.We bring years of research experience to this 16th edition of our report. The 281-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Accenture Plc; ADP LLC; Aon Hewitt; Ceridian HCM, Inc.; CGI Group, Inc.; Cielo, Inc.; Equifax, Inc.; General Outsourcing Co., Ltd.; IBM Corp.; Infosys BPM Ltd.; Intuit, Inc.; Kronos, Inc.; Mercer, LLC; NGA Human Resources; Paychex, Inc.; Randstad Holding NV; The ADECCO Group; Ultimate Software Group, Inc.
» Service Type (Payroll Services, Benefits Administration Services, Education & Training Services, Recruitment Process Outsourcing, Other Service Types)
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World

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05
1. MARKET OVERVIEW
Recent Market Activity
A Prelude
HRO - A Rapidly Growing BPO Segment
Snapshots
Growth Drivers
Growth Restraints
Market Outlook
Growth Opportunities in Service Segments
Emerging Markets to Drive Future Growth
Cost Reduction: Finding Favor Again in Difficult Times
Need for Regulatory Compliance Drives Adoption of HRO Services
Lowering Risk Levels & Simpler HRO Engagements - Key Growth Drivers
Multi-Process HRO (MPHRO): Favorable Prospects in the Long Run
Shift towards Cloud-based Platforms Drives MPHRO Market
More Organizations Gravitate towards HR Outsourcing
Factors Creating Need for HR Outsourcing
Future of HR Outsourcing
Key Considerations
Sourcing Strategy/Model: Means to Achieve Business Process
Global Competitor Market Shares
Human Resource Outsourcing (HRO) Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
Accenture Plc (Ireland)
Adecco Group AG (Switzerland)
ADP LLC (USA)
Aon Hewitt (USA)
Cielo, Inc. (USA)
Ceridian HCM, Inc. (USA)
CGI Group, Inc. (Canada)
Equifax, Inc. (USA)
General Outsourcing Co., Ltd. (Thailand)
Infosys BPM Ltd. (India)
International Business Machines Corporation (USA)
Intuit, Inc. (USA)
Kronos, Inc. (USA)
Mercer, LLC (UK)
NGA Human Resources (UK)
Paychex, Inc. (USA)
Randstad Holding NV (The Netherlands)
Ultimate Software Group, Inc. (USA)
3. MARKET TRENDS & DRIVERS
Noteworthy Trends Influencing the HR Outsourcing Market
Continuous Adoption of Services Propels HRO Industry
Cloud - The Preferred Platform for HRO
BPaaS - A Growing Trend
Cloud-Based Recruitment Software Rises in Popularity
HRO Analytics Gain Prominence in HR Management & Administration
Predictive Analytics - An Indispensable tool for HR
Robotic Automation Makes In Roads in HRO Industry
Trend towards Process Convergence
Moving to a 'Transformational-Transfer' Model
Focus Grows on Small and Mid-Size Companies
Select HR Outsourcing Trends Related to Small Businesses
HR BPO Redefines HR Profession
End-to-End Services: Rise in HRO
Demographic Changes Support HRO Growth
Selective Approach Finds Favor
Offshore HR BPO: Driving Cost-Effectiveness
Focus on Business Process Improvement Gains Momentum
PEO Concept Gains Strength
Benefits and Drawbacks of PEO
Recruitment Process Outsourcing - Gaining Wider Attention
Factors Driving Growth in the RPO Market
Key Recruitment Process Functions Outsourced by Order of Importance
RPO Sector Registers Growth in Number of Deals
Offshoring of RPO Services Picks Up Pace
Talent Acquisition - Changing Definition of RPOs
Digitization of Talent Acquisition Process
Payroll Outsourcing Services Rise in Adoption
Multi-Country Payroll Outsourcing - A High Growth Market
Benefits Administration: Offering Potential Growth Opportunities for Outsourcing
Trend towards Health & Welfare Services Drives Growth in BAO
Workforce Management Outsourcing Gains Pace
Learning Outsourcing Services - Fulfilling Training Requirements
Market Challenges
Challenges in HR Transformation
HRMS: A Competitor for HRO Market
4. GLOBAL MARKET PERSPECTIVE
Human Resource Outsourcing (HRO) Global Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025
Human Resource Outsourcing (HRO) Global Retrospective Market Scenario in US$ Million by Region/Country: 2009-2017
Human Resource Outsourcing (HRO) Market Share Shift across Key Geographies Worldwide: 2009 VS 2019 VS 2025
Payroll Services (Service Type) World Market by Region/Country in US$ Million: 2018 to 2025
Payroll Services (Service Type) Historic Market Analysis by Region/Country in US$ Million: 2009 to 2017
Payroll Services (Service Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2009 VS 2019 VS 2025
Benefits Administration Services (Service Type) Potential Growth Markets Worldwide in US$ Million: 2018 to 2025
Benefits Administration Services (Service Type) Historic Market Perspective by Region/Country in US$ Million: 2009 to 2017
Benefits Administration Services (Service Type) Market Sales Breakdown by Region/Country in Percentage: 2009 VS 2019 VS 2025
Education & Training Services (Service Type) Geographic Market Spread Worldwide in US$ Million: 2018 to 2025
Education & Training Services (Service Type) Region Wise Breakdown of Global Historic Demand in US$ Million: 2009 to 2017
Education & Training Services (Service Type) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025
Recruitment Process Outsourcing (Service Type) World Market Estimates and Forecasts by Region/Country in US$ Million: 2018 to 2025
Recruitment Process Outsourcing (Service Type) Market Historic Review by Region/Country in US$ Million: 2009 to 2017
Recruitment Process Outsourcing (Service Type) Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025
Other Service Types (Service Type) World Market by Region/Country in US$ Million: 2018 to 2025
Other Service Types (Service Type) Historic Market Analysis by Region/Country in US$ Million: 2009 to 2017
Other Service Types (Service Type) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025
Market Outlook
GEOGRAPHIC MARKET ANALYSIS
United States
Market Facts & Figures
US Human Resource Outsourcing (HRO) Market Share (in %) by Company: 2020 & 2025
United States Human Resource Outsourcing (HRO) Market Estimates and Projections in US$ Million by Service Type: 2018 to 2025
Human Resource Outsourcing (HRO) Market in the United States by Service Type: A Historic Review in US$ Million for 2009-2017
United States Human Resource Outsourcing (HRO) Market Share Breakdown by Service Type: 2009 VS 2019 VS 2025
Canada
Canadian Human Resource Outsourcing (HRO) Market Estimates and Forecasts in US$ Million by Service Type: 2018 to 2025
Canadian Human Resource Outsourcing (HRO) Historic Market Review by Service Type in US$ Million: 2009-2017
Human Resource Outsourcing (HRO) Market in Canada: Percentage Share Breakdown of Sales by Service Type for 2009, 2019, and 2025
Japan
Japanese Market for Human Resource Outsourcing (HRO): Annual Sales Estimates and Projections in US$ Million by Service Type for the Period 2018-2025
Human Resource Outsourcing (HRO) Market in Japan: Historic Sales Analysis in US$ Million by Service Type for the Period 2009-2017
Japanese Human Resource Outsourcing (HRO) Market Share Analysis by Service Type: 2009 VS 2019 VS 2025
China
Chinese Human Resource Outsourcing (HRO) Market Growth Prospects in US$ Million by Service Type for the Period 2018-2025
Human Resource Outsourcing (HRO) Historic Market Analysis in China in US$ Million by Service Type: 2009-2017
Chinese Human Resource Outsourcing (HRO) Market by Service Type: Percentage Breakdown of Sales for 2009, 2019, and 2025
Europe
Market Facts & Figures
European Human Resource Outsourcing (HRO) Market: Competitor Market Share Scenario (in %) for 2020 & 2025
European Human Resource Outsourcing (HRO) Market Demand Scenario in US$ Million by Region/Country: 2018-2025
Human Resource Outsourcing (HRO) Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2009-2017
European Human Resource Outsourcing (HRO) Market Share Shift by Region/Country: 2009 VS 2019 VS 2025
European Human Resource Outsourcing (HRO) Market Estimates and Forecasts in US$ Million by Service Type: 2018-2025
Human Resource Outsourcing (HRO) Market in Europe in US$ Million by Service Type: A Historic Review for the Period 2009-2017
European Human Resource Outsourcing (HRO) Market Share Breakdown by Service Type: 2009 VS 2019 VS 2025
France
Human Resource Outsourcing (HRO) Market in France by Service Type: Estimates and Projections in US$ Million for the Period 2018-2025
French Human Resource Outsourcing (HRO) Historic Market Scenario in US$ Million by Service Type: 2009-2017
French Human Resource Outsourcing (HRO) Market Share Analysis by Service Type: 2009 VS 2019 VS 2025
Germany
Human Resource Outsourcing (HRO) Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Service Type for the Period 2018-2025
German Human Resource Outsourcing (HRO) Historic Market Analysis in US$ Million by Service Type: 2009-2017
German Human Resource Outsourcing (HRO) Market Share Breakdown by Service Type: 2009 VS 2019 VS 2025
Italy
Italian Human Resource Outsourcing (HRO) Market Growth Prospects in US$ Million by Service Type for the Period 2018-2025
Human Resource Outsourcing (HRO) Historic Market Analysis in Italy in US$ Million by Service Type: 2009-2017
Italian Human Resource Outsourcing (HRO) Market by Service Type: Percentage Breakdown of Sales for 2009, 2019, and 2025
United Kingdom
United Kingdom Market for Human Resource Outsourcing (HRO): Annual Sales Estimates and Projections in US$ Million by Service Type for the Period 2018-2025
Human Resource Outsourcing (HRO) Market in the United Kingdom: Historic Sales Analysis in US$ Million by Service Type for the Period 2009-2017
United Kingdom Human Resource Outsourcing (HRO) Market Share Analysis by Service Type: 2009 VS 2019 VS 2025
Rest of Europe
Rest of Europe Human Resource Outsourcing (HRO) Market Estimates and Forecasts in US$ Million by Service Type: 2018-2025
Human Resource Outsourcing (HRO) Market in Rest of Europe in US$ Million by Service Type: A Historic Review for the Period 2009-2017
Rest of Europe Human Resource Outsourcing (HRO) Market Share Breakdown by Service Type: 2009 VS 2019 VS 2025
Asia-Pacific
Human Resource Outsourcing (HRO) Market in Asia-Pacific by Service Type: Estimates and Projections in US$ Million for the Period 2018-2025
Asia-Pacific Human Resource Outsourcing (HRO) Historic Market Scenario in US$ Million by Service Type: 2009-2017
Asia-Pacific Human Resource Outsourcing (HRO) Market Share Analysis by Service Type: 2009 VS 2019 VS 2025
Rest of World
Rest of World Human Resource Outsourcing (HRO) Market Estimates and Forecasts in US$ Million by Service Type: 2018 to 2025
Rest of World Human Resource Outsourcing (HRO) Historic Market Review by Service Type in US$ Million: 2009-2017
Human Resource Outsourcing (HRO) Market in Rest of World: Percentage Share Breakdown of Sales by Service Type for 2009, 2019, and 2025
Total Companies Profiled : 204

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