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Employment Services - Global Market Trajectory & Analytics

  • ID: 338542
  • Report
  • July 2020
  • Region: Global
  • 537 Pages
  • Global Industry Analysts, Inc
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Global Employment Services Market to Reach US$898 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Employment Services estimated at US$680.7 Billion in the year 2020, is projected to reach a revised size of US$898 Billion by 2027, growing at a CAGR of 4% over the analysis period 2020-2027.Temporary Staffing/Agency Work, one of the segments analyzed in the report, is projected to grow at a 3.8% CAGR to reach US$645.4 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 Managed Service Provider (MSP) segment is readjusted to a revised 4.7% CAGR for the next 7-year period. This segment currently accounts for a 19.2% share of the global Employment Services market.

The U. S. Accounts for Over 29.4% of Global Market Size in 2020, While China is Forecast to Grow at a 3.8% CAGR for the Period of 2020-2027

The Employment Services market in the U. S. is estimated at US$200.3 Billion in the year 2020. The country currently accounts for a 29.42% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$159.5 Billion in the year 2027 trailing a CAGR of 3.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$159.5 Billion by the year 2027.

Permanent Recruitment/Search & Placement Segment Corners a 6.7% Share in 2020

In the global Permanent Recruitment/Search & Placement segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$36.8 Billion in the year 2020 will reach a projected size of US$52.7 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$103.1 Billion by the year 2027.The publisher brings years of research experience to this 16th edition of our report. The 537-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.

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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