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Employment Services - Global Market Trajectory & Analytics

  • ID: 338542
  • Report
  • May 2020
  • Region: Global
  • 537 Pages
  • Global Industry Analysts, Inc
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Amid the COVID-19 crisis and the looming economic recession, the Employment Services market worldwide will grow by a projected US$217.4 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 4%. Temporary Staffing/Agency Work, one of the segments analyzed and sized in this study, is forecast to grow at over 3.8% and reach a market size of US$645.4 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Temporary Staffing/Agency Work market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.9% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$10.4 Billion to the region's size over the next 7 to 8 years. In addition, over US$9.6 Billion worth of projected demand in the region will come from Rest of the European markets. In Japan, the Temporary Staffing/Agency Work segment will reach a market size of US$46.6 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Employment Services market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 4.5% over the next couple of years and add approximately US$39.8 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Employment Services market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:

51job, ADP LLC, Allegis Group Inc, Beijing Foreign Enterprise Human Resource Service Co. Ltd, CDI Corporation, China International Talent Development Center, Cielo Inc, Hays Plc, Kelly Services Inc, Korn/Ferry International, ManpowerGroup Inc, Poolia AB, Randstad Holding NV, Recruit Holdings Co. Ltd, Robert Half International Inc, Synergie SA, The Adecco Group

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Recent Market Activity
Employment Services: Helping Employers Secure Human Resources with the Highest Core Competencies
Global Market Outlook
With Global Megatrends Transforming the Workforce Landscape, Employment Services Providers Grow in Prominence than Ever Before
Economic and Geopolitical Uncertainty
Shift towards Gig Economy
Growing Skills Imbalances
Changing Demographic Mix
Automation, Machine Learning and Artificial Intelligence
Digitization, Big Data & Analytics
Emerging Markets: The New Growth Engine for the Global Employment Services Market
Temporary Staffing Services Dominate Global Employment Services Industry
Myriad Benefits Offered by Temporary/Agency Staffing Drive Market Penetration
Temporary Jobs: An Important Barometer for a Country’s Economic Health
Economic Recovery Provides an Impetus to Global Employment Services Market
Global Competitor Market Shares
Employment Services Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
51job (China)
Allegis Group, Inc. (USA)
ADP, LLC (USA)
Beijing Foreign Enterprise Human Resource Service Co., Ltd (China)
CDI Corporation (USA)
Cielo, Inc. (USA)
China International Talent Development Center (China)
Hays Plc (UK)
Kelly Services, Inc. (USA)
Korn/Ferry International (USA)
ManpowerGroup, Inc. (USA)
Right Management Consultants, Inc
Morson Group (UK)
Anderselite Ltd. (UK)
Pasona, Inc. (Japan)
Poolia AB (Sweden)
Randstad Holding NV (The Netherlands)
Recruit Holdings Co., Ltd. (Japan)
Recruit Global Staffing (The Netherlands)
Robert Half International, Inc. (USA)
Synergie SA (France)
The Adecco Group (Switzerland)
Adecco Staffing USA (USA)
Ajilon (USA)
Lee Hecht Harrison, LLC (USA)

3. MARKET TRENDS & DRIVERS
Structural Changes in Labor Market and Growing Skills Gap: Opportunity for Employment Service Providers
Major Trends in the Staffing Industry
Talent Shortage
Remote & Flexible Workforce Models
Focus on Soft Skills
Automation & AI
Leveraging Data for Strategic Workforce Planning
Focus on Staff Technology
Employee Experience
Rise of Mobile & Social Recruiting
Growing Prominence of Agile and Flexible Workforce Lends Traction to Employment Services Market
Increasing Focus on Core Competencies and the Resulting Need to Outsource Recruitment Processes Drive Healthy Growth in RPO Market
Important Factors Driving Growth in the RPO Market
Comparison with Other Models
Drawbacks of RPO Model
Rising Significance of Next Generation Technologies for RPO Providers
Emerging Use Cases of Digital Technologies in Talent Acquisition
RPO Sector Registers Growth in Number of Deals
Offshoring of RPO Services Picks Up Pace
Talent Acquisition & Retention: Changing Definition of RPOs
RPO Penetration in Small and Mid-Size Companies Gains Momentum
Despite Cannibalization by Online Hiring, Recruitment Agencies Continue to Sustain Growth Momentum
Transforming Social Networking Landscape Benefits Employment Services Industry
Smart Data Technologies and Other Technology Advancements Offer Lucrative Opportunities for Public Employment Services
Big Data: The Game Changer in Recruitment Space
Rising Popularity of Cloud-Based Recruitment Software Augurs Well for the Market
Digital Strategies Facilitate in Enhancing Efficiency of Recruitment Process
Expanding Workforce Solution Offerings by Employment Service Providers Benefit Market Growth
The Essential Nature of Employment Services in Addressing Undeclared, Illegal Work Bodes Well for Market Adoption
Rising Need for Labor Mobility to Offset Anti-Immigrant Sentiments Favors Market Demand
Employment Screening Market: Imperative Need to Verify Job Seekers' Credentials Drives Growth
Exponential Increase in Urban Population & Expanding Middle Class: Mega Trends Strengthening Market Prospects

4. GLOBAL MARKET PERSPECTIVE
TABLE 1: Employment Services Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
TABLE 2: Employment Services Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019
TABLE 3: Employment Services Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
TABLE 4: Temporary Staffing/Agency Work (Service Segment) World Market by Region/Country in US$ Million: 2020 to 2027
TABLE 5: Temporary Staffing/Agency Work (Service Segment) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019
TABLE 6: Temporary Staffing/Agency Work (Service Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
TABLE 7: Managed Service Provider (MSP) (Service Segment) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027
TABLE 8: Managed Service Provider (MSP) (Service Segment) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019
TABLE 9: Managed Service Provider (MSP) (Service Segment) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
TABLE 10: Permanent Recruitment/Search & Placement (Service Segment) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027
TABLE 11: Permanent Recruitment/Search & Placement (Service Segment) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019
TABLE 12: Permanent Recruitment/Search & Placement (Service Segment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
TABLE 13: Other Service Segments (Service Segment) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027
TABLE 14: Other Service Segments (Service Segment) Market Historic Review by Region/Country in US$ Million: 2012 to 2019
TABLE 15: Other Service Segments (Service Segment) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
US Employment Services Market Share (in %) by Company: 2020 & 2025
Market Analytics
TABLE 16: United States Employment Services Market Estimates and Projections in US$ Million by Service Segment: 2020 to 2027
TABLE 17: Employment Services Market in the United States by Service Segment: A Historic Review in US$ Million for 2012-2019
TABLE 18: United States Employment Services Market Share Breakdown by Service Segment: 2012 VS 2020 VS 2027
CANADA
TABLE 19: Canadian Employment Services Market Estimates and Forecasts in US$ Million by Service Segment: 2020 to 2027
TABLE 20: Canadian Employment Services Historic Market Review by Service Segment in US$ Million: 2012-2019
TABLE 21: Employment Services Market in Canada: Percentage Share Breakdown of Sales by Service Segment for 2012, 2020, and 2027
JAPAN
TABLE 22: Japanese Market for Employment Services: Annual Sales Estimates and Projections in US$ Million by Service Segment for the Period 2020-2027
TABLE 23: Employment Services Market in Japan: Historic Sales Analysis in US$ Million by Service Segment for the Period 2012-2019
TABLE 24: Japanese Employment Services Market Share Analysis by Service Segment: 2012 VS 2020 VS 2027
CHINA
TABLE 25: Chinese Employment Services Market Growth Prospects in US$ Million by Service Segment for the Period 2020-2027
TABLE 26: Employment Services Historic Market Analysis in China in US$ Million by Service Segment: 2012-2019
TABLE 27: Chinese Employment Services Market by Service Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027
EUROPE
Market Facts & Figures
European Employment Services Market: Competitor Market Share Scenario (in %) for 2020 & 2025
Market Analytics
TABLE 28: European Employment Services Market Demand Scenario in US$ Million by Region/Country: 2020-2027
TABLE 29: Employment Services Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2012-2019
TABLE 30: European Employment Services Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
TABLE 31: European Employment Services Market Estimates and Forecasts in US$ Million by Service Segment: 2020-2027
TABLE 32: Employment Services Market in Europe in US$ Million by Service Segment: A Historic Review for the Period 2012-2019
TABLE 33: European Employment Services Market Share Breakdown by Service Segment: 2012 VS 2020 VS 2027
FRANCE
TABLE 34: Employment Services Market in France by Service Segment: Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 35: French Employment Services Historic Market Scenario in US$ Million by Service Segment: 2012-2019
TABLE 36: French Employment Services Market Share Analysis by Service Segment: 2012 VS 2020 VS 2027
GERMANY
TABLE 37: Employment Services Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Service Segment for the Period 2020-2027
TABLE 38: German Employment Services Historic Market Analysis in US$ Million by Service Segment: 2012-2019
TABLE 39: German Employment Services Market Share Breakdown by Service Segment: 2012 VS 2020 VS 2027
ITALY
TABLE 40: Italian Employment Services Market Growth Prospects in US$ Million by Service Segment for the Period 2020-2027
TABLE 41: Employment Services Historic Market Analysis in Italy in US$ Million by Service Segment: 2012-2019
TABLE 42: Italian Employment Services Market by Service Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027
UNITED KINGDOM
TABLE 43: United Kingdom Market for Employment Services: Annual Sales Estimates and Projections in US$ Million by Service Segment for the Period 2020-2027
TABLE 44: Employment Services Market in the United Kingdom: Historic Sales Analysis in US$ Million by Service Segment for the Period 2012-2019
TABLE 45: United Kingdom Employment Services Market Share Analysis by Service Segment: 2012 VS 2020 VS 2027
REST OF EUROPE
TABLE 46: Rest of Europe Employment Services Market Estimates and Forecasts in US$ Million by Service Segment: 2020-2027
TABLE 47: Employment Services Market in Rest of Europe in US$ Million by Service Segment: A Historic Review for the Period 2012-2019
TABLE 48: Rest of Europe Employment Services Market Share Breakdown by Service Segment: 2012 VS 2020 VS 2027
ASIA-PACIFIC
TABLE 49: Employment Services Market in Asia-Pacific by Service Segment: Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 50: Asia-Pacific Employment Services Historic Market Scenario in US$ Million by Service Segment: 2012-2019
TABLE 51: Asia-Pacific Employment Services Market Share Analysis by Service Segment: 2012 VS 2020 VS 2027
REST OF WORLD
TABLE 52: Rest of World Employment Services Market Estimates and Forecasts in US$ Million by Service Segment: 2020 to 2027
TABLE 53: Rest of World Employment Services Historic Market Review by Service Segment in US$ Million: 2012-2019
TABLE 54: Employment Services Market in Rest of World: Percentage Share Breakdown of Sales by Service Segment for 2012, 2020, and 2027

IV. COMPETITION
Total Companies Profiled: 447
Note: Product cover images may vary from those shown
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