According to a new market research report published by Acute Market Reports “Recruitment Process Outsourcing (RPO) Market (On-demand RPO and End-to-end RPO) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 – 2022” the global recruitment process outsourcing (RPO) market was valued at US$ 3,537.2 Mn in 2014 and is estimated to expand with a CAGR of 14.4% from 2015 to 2022.
Browse the full Recruitment Process Outsourcing (RPO) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022, report at : https://www.acutemarketreports.com/report/recruitment-process-outsourcing-rpo-market
Recruitment process outsourcing (RPO) refers to an outsourced service where the client organization handovers all or some of the recruitment processes to a third-party (RPO) vendor. The most significant factor fueling the market growth is the reduction in overhead costs of the client organizations. Additionally, outsourcing recruitment processes makes hiring much easier, faster and productive as compared to the traditional recruitment processes. This has made large number of companies across the world turn towards adoption of RPO in recent years. Due to rising penetration of the overall outsourcing concept, the RPO market is expected to witness strong growth in the coming years.
RPO is popular majorly in North America and Europe where the adoption of these services dates back to early 2000’s. However, Asia Pacific is estimated to emerge as the highest growing market for RPO, in terms of revenue and adoption, in the coming years. The demand for RPO service is majorly governed by the rising number of business enterprises coupled with the need for productive recruitment. Due to strong growth across various industrial sectors in countries such as China, India and some of the Southeast Asia countries, the RPO market in Asia Pacific is expected to expand nearly fourfold by 2022.
The global recruitment process outsourcing market is highly consolidated in nature with few major players contributing to over eighty percent of the total market revenue. Some of the major players in RPO market are ManpowerGroup Solutions, Alexander Mann Solutions, Hudson Global, Randstad Holding NV, Kenexa Corporation and others. Nevertheless, these players witness significant penetration challenges due to presence of local/regional players. Most of the global RPO vendors have partnered/acquired the regional players in order to establish their presence in concerned markets. Additionally, due to increasing popularity of RPO services, more number of regional players are expected to emerge in the coming years making the market further competitive.
- Acquisition of small and medium scale RPO vendors; partnership with regional RPO vendors
- Shift towards countries/regions with major labor shortage
- Offering customized and low cost solutions in order to compete with the local players
- Focus on emerging economies such as India, China, Brazil, Argentina and some of the Eastern Europe countries
Key questions answered in this report
- What are the current market trends and dynamics in the recruitment process outsourcing rpo industry market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2029
- Which segment accounts for the fastest CAGR during the forecast period?
- Which is the largest regional market for recruitment process outsourcing rpo industry?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- The worldwide market value of the recruitment process outsourcing rpo industry market in 2019 and 2020
- Which are the key trends driving the global recruitment process outsourcing rpo industry market growth?
- Who are the leading service providers in the recruitment process outsourcing rpo industry market worldwide?
About Acute Market Reports
Acute Market Reports is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.