Human Resource Outsourcing Market Size to Grow by USD 10.90 billion, Accenture Plc and Adecco Group AG Among Key Vendors - Technavio

This report with TOC analyzes the human resource outsourcing market by Service (PO, BAO, MPHRO, RPO, and LSO) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa)

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- The global human resource outsourcing market will be dominated by North America during the forecast period. The region will account for 56% of the market's growth during the forecast period. This growth is attributed to factors such as the integration of cloud-based services and social media into the recruitment process. Moreover, market growth in this region will be slower than the growth of the market in other regions. The US and Canada are the key countries for the human resource outsourcing market in North America.

The global human resource outsourcing market is expected to grow by USD 10.90 bn from 2021 to 2026. However, the growth momentum of the market will decelerate at a CAGR of 4.87% during the forecast period, according to Technavio's latest market report.

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Human Resource Outsourcing Market: Major Growth Driver and Trend

The digitization of human resource outsourcing is driving market growth. To support the Industry 4.0 trend and advanced database management systems, online platforms should be digitized. Advanced technologies such as IoT, cloud computing, big data, analytics, and augmented reality are transforming industrial processes. Enterprises also need human resource outsourcing to manage their units. It lowers per-person access costs significantly and raises overall productivity. Thus, technological advances and the increasing adoption of digitization will drive the growth of the global human resource outsourcing market during the forecast period.

The rise in the adoption of recruitment analytics is a trend in the market. Many organizations are using analytics due to complications in managing large volumes of workforce data. Analytics solutions utilize statistical and scientific methods to derive meaningful insights from raw data. Proactive recruitment, big data, and social media are gaining momentum in the human resource outsourcing industry. Such factors will propel the human resource outsourcing market growth during the forecast period.

Make the most of future growth opportunities with the help of the latest drivers and trends provided by Technavio. View a Free Sample Report Now!

Human Resource Outsourcing Market: Key Vendor Offerings
  • Accenture Plc - The company offers human resource outsourcing that provides new human resources outsourcing solution that enables mid-sized organizations to outsource their end-to-end HR services and functions, achieving higher performance levels in HR services while lowering their costs.
  • Adecco Group AG - The company offers human resource outsourcing that provides innovative solutions that enable employers to optimize their workforces and employees to take control of their careers.
  • Capgemini Service SAS - The company offers human resource outsourcing that provides payroll, time and attendance, talent, benefits and insurance, HR services, HR outsourcing and PEO, integrations, and app marketplace.
  • General Outsourcing Co Ltd. - The company offers human resource outsourcing that includes human resources management solutions such as payroll outsourcing, administrative management, and employee welfare, including an online personnel management system.
  • International Business Machines Corp. - The company offers human resource outsourcing that enables HR professionals to be more strategic people managers by outsourcing some of the administrative and operational tasks.
Reasons to Buy Human Resource Outsourcing Market Report:
  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist human resource outsourcing market growth during the next five years
  • Estimation of the human resource outsourcing market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the human resource outsourcing market across North America, Europe, APAC, South America, and the Middle East and Africa
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of human resource outsourcing market vendors
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Human Resource Outsourcing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.87%

Market growth 2022-2026

USD 10.90 billion

Market structure

Fragmented

YoY growth (%)

5.37

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 56%

Key consumer countries

US, Canada, UK, France, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Adecco Group AG, Automatic Data Processing Inc., Capgemini Service SAS, Capita Plc, Ceridian HCM Holding Inc., CGI Inc., Fidelity Investments Inc., General Outsourcing Co Ltd., Genpact Ltd., HCL Technologies Ltd., Hexaware Technologies Ltd., HP Inc., Infosys Ltd., International Business Machines Corp., Manpower Group, MHR, Randstad Holding NV, Wipro Ltd., Zalaris ASA., Aon Plc, and UKG Inc.

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Service

  • 5.1 Market segments
    • Exhibit 24: Chart on Service - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Service - Market share 2021-2026 (%)
  • 5.2 Comparison by Service
    • Exhibit 26: Chart on Comparison by Service
    • Exhibit 27: Data Table on Comparison by Service
  • 5.3 PO - Market size and forecast 2021-2026
    • Exhibit 28: Chart on PO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on PO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on PO - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on PO - Year-over-year growth 2021-2026 (%)
  • 5.4 BAO - Market size and forecast 2021-2026
    • Exhibit 32: Chart on BAO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on BAO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on BAO - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on BAO - Year-over-year growth 2021-2026 (%)
  • 5.5 MPHRO - Market size and forecast 2021-2026
    • Exhibit 36: Chart on MPHRO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on MPHRO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on MPHRO - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on MPHRO - Year-over-year growth 2021-2026 (%)
  • 5.6 RPO - Market size and forecast 2021-2026
    • Exhibit 40: Chart on RPO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 41: Data Table on RPO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Chart on RPO - Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on RPO - Year-over-year growth 2021-2026 (%)
  • 5.7 LSO - Market size and forecast 2021-2026
    • Exhibit 44: Chart on LSO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 45: Data Table on LSO - Market size and forecast 2021-2026 ($ million)
    • Exhibit 46: Chart on LSO - Year-over-year growth 2021-2026 (%)
    • Exhibit 47: Data Table on LSO - Year-over-year growth 2021-2026 (%)
  • 5.8 Market opportunity by Service
    • Exhibit 48: Market opportunity by Service ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 52: Chart on Geographic comparison
    • Exhibit 53: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 62: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 Canada - Market size and forecast 2021-2026
    • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
  • 7.10 UK - Market size and forecast 2021-2026
    • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.11 France - Market size and forecast 2021-2026
    • Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.12 Germany - Market size and forecast 2021-2026
    • Exhibit 90: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 91: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 92: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 93: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 94: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 97: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 98: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 99: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 100: Matrix on vendor position and classification
  • 10.3 Accenture Plc
    • Exhibit 101: Accenture Plc - Overview
    • Exhibit 102: Accenture Plc - Business segments
    • Exhibit 103: Accenture Plc - Key news
    • Exhibit 104: Accenture Plc - Key offerings
    • Exhibit 105: Accenture Plc - Segment focus
  • 10.4 Adecco Group AG
    • Exhibit 106: Adecco Group AG - Overview
    • Exhibit 107: Adecco Group AG - Key offerings
  • 10.5 Automatic Data Processing Inc.
    • Exhibit 108: Automatic Data Processing Inc. - Overview
    • Exhibit 109: Automatic Data Processing Inc. - Business segments
    • Exhibit 110: Automatic Data Processing Inc. - Key news
    • Exhibit 111: Automatic Data Processing Inc. - Key offerings
    • Exhibit 112: Automatic Data Processing Inc. - Segment focus
  • 10.6 Ceridian HCM Holding Inc.
    • Exhibit 113: Ceridian HCM Holding Inc. - Overview
    • Exhibit 114: Ceridian HCM Holding Inc. - Business segments
    • Exhibit 115: Ceridian HCM Holding Inc. - Key news
    • Exhibit 116: Ceridian HCM Holding Inc. - Key offerings
    • Exhibit 117: Ceridian HCM Holding Inc. - Segment focus
  • 10.7 General Outsourcing Co Ltd.
    • Exhibit 118: General Outsourcing Co Ltd. - Overview
    • Exhibit 119: General Outsourcing Co Ltd. - Product / Service
    • Exhibit 120: General Outsourcing Co Ltd. - Key offerings
  • 10.8 HCL Technologies Ltd.
    • Exhibit 121: HCL Technologies Ltd. - Overview
    • Exhibit 122: HCL Technologies Ltd. - Business segments
    • Exhibit 123: HCL Technologies Ltd. - Key news
    • Exhibit 124: HCL Technologies Ltd. - Key offerings
    • Exhibit 125: HCL Technologies Ltd. - Segment focus
  • 10.9 Infosys Ltd.
    • Exhibit 126: Infosys Ltd. - Overview
    • Exhibit 127: Infosys Ltd. - Business segments
    • Exhibit 128: Infosys Ltd. - Key news
    • Exhibit 129: Infosys Ltd. - Key offerings
    • Exhibit 130: Infosys Ltd. - Segment focus
  • 10.10 International Business Machines Corp.
    • Exhibit 131: International Business Machines Corp. - Overview
    • Exhibit 132: International Business Machines Corp. - Business segments
    • Exhibit 133: International Business Machines Corp. - Key offerings
    • Exhibit 134: International Business Machines Corp. - Segment focus
  • 10.11 Randstad Holding NV
    • Exhibit 135: Randstad Holding NV - Overview
    • Exhibit 136: Randstad Holding NV - Business segments
    • Exhibit 137: Randstad Holding NV - Key news
    • Exhibit 138: Randstad Holding NV - Key offerings
    • Exhibit 139: Randstad Holding NV - Segment focus
  • 10.12 Zalaris ASA.
    • Exhibit 140: Zalaris ASA. - Overview
    • Exhibit 141: Zalaris ASA. - Business segments
    • Exhibit 142: Zalaris ASA. - Key offerings
    • Exhibit 143: Zalaris ASA. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 144: Inclusions checklist
    • Exhibit 145: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 146: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 147: Research methodology
    • Exhibit 148: Validation techniques employed for market sizing
    • Exhibit 149: Information sources
  • 11.5 List of abbreviations
    • Exhibit 150: List of abbreviations
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