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Human Resources Outsourcing Market Size: By Vehicle Type, By Fuel Type, and By Engine Capacity, and By Region; Trend Analysis, Competitive Market Share & Forecast, 2016-26

  • ID: 5012797
  • Report
  • February 2020
  • Region: Global
  • 180 pages
  • Blueweave Consulting & Research Pvt Ltd
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FEATURED COMPANIES

  • Accenture
  • Alight Solutions
  • Ceridian HCM Inc.
  • Genesys
  • Infosys
  • LLC
  • MORE
According to the publisher, the Global Human Resources Outsourcing (HRO) Market is expected to grow at a significant rate during the forecast period. The Global Human Resources Outsourcing (HRO) Market is projected to reach the valuation of USD249.6 billion by the year 2026 by growing at a CAGR of 9.51 % during the forecast period 2019- 2026.

The global human resource outsourcing (HRO) market is projected to proliferate, owing to the surge in need of improved HR departments, efficient operations and, and the smooth, streamlined process. The need to reconcile business operations with changing HR policy framework and labor laws are also motivating the growth of global human resource outsourcing (HRO). The rise in the technology and innovations focus on the service provider boosting the commercial success of BPaaS as an HRO service delivery model.

Implementation of HRO reduces the exposure to the risks posed by the labor and employment laws, offers cost-effective access to professional skills. The global human resource outsourcing (HRO) also increased the efficiency of handling critical but non-core functions such as enforcement, payroll, and employee management. Besides, the global human resource outsourcing (HRO) is versatile, and the agile and thus reduces the internal emphasis on employee performance and organs. There are few HRO’s vigorously growing sectors comprise outsourcing of payroll, outsourcing of recruiting processes, and administration of benefits. A key market trend is the increasing prominence of cloud computing and the increase in HR services offered as a service under the Software.

The Payroll segment in Type is expected to dominate the HRO market during Forecast horizon

Based on Type, the Payroll segmented expected to dominate the global HRO market with significant growth rate during forecast horizon. The demand for the cloud based payroll system is increasing globally. The cloud based HR payroll software and solution service provides better access. Furthermore, the cloud based service will permit business outsourced payroll systems to scale with their employee reductions and increases.

Increase in adoption of cloud based technologies

The key driver for the global HR Outsourcing market is the increase in the adoption of cloud technologies such as SaaS technology (Software as a Service). Cloud-based payroll software solutions enable companies to enhance and simplify their payroll functions compared to other business technologies. Cloud-based HR payroll software solution is automated, and it further enhances the accuracy and efficiency of HR management. This solution gives an automated update when tax rates changes, which results to provide accurate payroll solution. The SaaS-based model allows distribution of high costs for hardware, software and data center operations among the customers by the vendors, thereby allowing the customers to avail top of the line infrastructure at a fraction of the initial cost.

Increased flexibility

Companies that employ temporary staff as part of their workforce achieve greater versatility when dealing with stressful peaks and troughs. Current custom-made production trends strengthen the company's need for scalable outsourcing of Human Resource.

North America is anticipated to dominate the lion’ share of the global Human Resources Outsourcing (HRO) market during the anticipated period

By geography, the global Human Resources Outsourcing (HRO) Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America expected to dominate the global HRO market and anticipated to witness lucrative growth rate with a higher CAGR of 9.18% during the forecast period. In North America, software vendors mainly provide payroll services and collaborate with payroll outsourcing providers to deliver services in other countries.

Human Resources Outsourcing (HRO) Market: Competitive Landscape

The major market players in the Global Human Resources Outsourcing (HRO) are Accenture, ADP, IBM, Infosys, Randstad, Adecco S.A., Paychex, Inc., Kronos, Inc., Alight Solutions, Cielo Inc., Aon Hewitt LLC (USA), Automatic Data Processing, Inc., Capita HR Solutions, Ceridian HCM, Inc., CGI Group Inc., Empower Software Solutions, Inc., Fidelity Management and Research LLC, General Outsourcing Co, Ltd., Genesys, Hewlett-Packard Company, Intuit, Inc., Mercer, LLC, Xerox Corporation, and other Prominent Players are expanding their presence in the market by implementing various innovations and technologies.


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Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Accenture
  • Alight Solutions
  • Ceridian HCM Inc.
  • Genesys
  • Infosys
  • LLC
  • MORE
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents
2.5. Market Size Estimation
2.6. Assumption for the Study
2.7. Market Breakdown & Data Triangulation

3. Global Human Resources Outsourcing (HRO) Market Industry Insights
3.1. DROC Analysis
3.1.1. Growth Drivers
3.1.2. Restraints
3.1.3. Opportunities
3.1.4. Challenges
3.2. Technological Landscape
3.3. Regulatory Framework
3.4. Company market share analysis, 2019
3.5. Porter’s Five forces analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry

4. Global Human Resources Outsourcing (HRO) Market Overview
4.1. Market Size & Forecast 2016-2026
4.1.1. By Value (USD)
4.2. Market Share & Forecast
4.2.1. By Type
4.2.1.1. Payroll Outsourcing
4.2.1.2. Benefits Administration Outsourcing
4.2.1.3. Multi-process Human Resource Outsourcing
4.2.1.4. Recruitment Process Outsourcing
4.2.1.5. Learning Services Outsourcing
4.2.1.6. Others
4.2.2. By Application
4.2.2.1. BFSI
4.2.2.2. Healthcare
4.2.2.3. IT
4.2.2.4. Hospitality
4.2.2.5. Retail
4.2.2.6. Others
4.2.3. By Region
4.2.3.1. North America
4.2.3.2. Europe
4.2.3.3. Asia Pacific
4.2.3.4. Latin America
4.2.3.5. Middle East & Africa

5. North America Human Resources Outsourcing (HRO) Market
5.1. Market estimates & forecast
5.1.1. By Type
5.1.2. By Application
5.1.3. By Country
5.1.3.1. U.S
5.1.3.2. Canada

6. Europe Human Resources Outsourcing (HRO) Market
6.1. Market estimates & forecast
6.1.1. By Type
6.1.2. By Application
6.1.3. By Country
6.1.3.1. Germany
6.1.3.2. U.K
6.1.3.3. France
6.1.3.4. Italy
6.1.3.5. Rest of Europe

7. Asia Pacific Human Resources Outsourcing (HRO) Market
7.1. Market estimates & forecast
7.1.1. By Type
7.1.2. By Application
7.1.3. By Country
7.1.3.1. China
7.1.3.2. India
7.1.3.3. Japan
7.1.3.4. Rest of APAC

8. Latin America Human Resources Outsourcing (HRO) Market
8.1. Market estimates & forecast
8.1.1. By Type
8.1.2. By Application
8.1.3. By Country
8.1.3.1. Brazil
8.1.3.2. Argentina
8.1.3.3. Rest of Latin America

9. Middle East & Africa Human Resources Outsourcing (HRO) Market
9.1. Market estimates & forecast
9.1.1. By Type
9.1.2. By Application
9.1.3. By Country
9.1.3.1. Saudi Arabia
9.1.3.2. UAE
9.1.3.3. South Africa
9.1.3.4. Rest of MEA

10. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
10.1. Accenture
10.2. ADP
10.3. IBM
10.4. Infosys
10.5. Randstad
10.6. Adecco S.A.
10.7. Paychex, Inc.
10.8. Kronos, Inc.
10.9. Alight Solutions
10.10. Cielo Inc.
10.11. Aon Hewitt LLC (USA)
10.12. Automatic Data Processing, Inc.
10.13. Capita HR Solutions
10.14. Ceridian HCM, Inc.
10.15. CGI Group Inc.
10.16. Empower Software Solutions, Inc.
10.17. Fidelity Management and Research LLC
10.18. General Outsourcing Co, Ltd.
10.19. Genesys
10.20. Hewlett-Packard Company
10.21. Intuit, Inc.
10.22. Mercer, LLC
10.23. Xerox Corporation
10.24. Other Prominent Players

* Financial information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
Note: Product cover images may vary from those shown
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  • Accenture
  • ADP
  • IBM
  • Infosys
  • Randstad
  • Adecco S.A.
  • Paychex Inc.
  • Kronos Inc.
  • Alight Solutions
  • Cielo Inc.
  • Aon Hewitt LLC (USA)
  • Automatic Data Processing Inc.
  • Capita HR Solutions
  • Ceridian HCM Inc.
  • CGI Group Inc.
  • Empower Software Solutions Inc.
  • Fidelity Management and Research LLC
  • General Outsourcing Co. Ltd
  • Genesys
  • Hewlett-Packard Company
  • Intuit Inc.
  • Mercer
  • LLC
  • Xerox Corporation
Note: Product cover images may vary from those shown
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