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HR Outsourcing Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

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    Report

  • 120 Pages
  • August 2022
  • Region: Global
  • Acute Market Reports
  • ID: 5724431
Description Jump to:

Increasing need to streamline HR operations to Ensure Rapid Growth for HR Outsourcing Market

Globally, the HR outsourcing market is expected to grow with a CAGR of more than 10% during the forecast period from 2022 to 2030. The adoption of HR outsourcing is rising rapidly across several medium and small-size enterprises. The optimize utilization of its resources provided by HR outsourcing helps organizations to maximize outputs and profits. Additionally, HR outsourcing majorly improves customer and client communication. There are various benefits offered by HR outsourcing is contributing to the growth of HR Outsourcing market worldwide.

Additionally, the emergence of advanced cloud-based solutions in HR outsourcing is anticipated fuel the HR Outsourcing market growth in the near future. This integration helps in the efficient management of the different HR functions that further increase innovations in the recruitment process. Furthermore, growing awareness about the benefits of recruitment analytics is boosting the growth of the HR outsourcing market. On the other hand, lack of flexibility is expected to be the key restraining factor for the HR outsourcing market. Moreover, the ongoing emergence of intelligent technologies in HR Outsourcing is projected to serve various growth opportunities for companies working in this market.

Payroll outsourcing to dominate the overall HR outsourcing market over the forecast period

In 2020, payroll outsourcing is one of the major services provided by the HR Outsourcing. The several organizations are majorly adopting payroll outsourcing owing to its cost-effective operations. Additionally, the integration of payroll services to cloud computing solutions are expected to enhance the growth of the HR outsourcing market during the forecast period. Furthermore, recruitment process outsourcing is expected to be the fastest growing segment by services in the HR outsourcing market. Moreover, Multi-process human resource outsourcing and Learning services outsourcing services holds a considerable market share in the HR outsourcing market.

North America to dominate the growth of the HR outsourcing market

North America holds the maximum market share in the HR outsourcing market followed by Europe. The high adoption and the advance technology integration are the major factors that drive the growth of North America HR outsourcing market. The emergence of cloud-based solutions ensure efficiently and the cost-effectiveness that is accelerating the growth of the HR outsourcing market. However, Asia Pacific is projected to witness a fastest growth in the HR outsourcing market owing to the growing awareness about HR outsourcing and high adoption of HR outsourcing among small scale enterprises.

Some of the prominent players operating in the HR outsourcing market include IBM Corporation, Accenture Plc, Infosys Limited, Randstad, ADP, HCL Technologies, Wipro Limited, Xerox Corporation, Tata Consultancy Services, SurePayroll and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of HR Outsourcing market are as follows:
  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the HR Outsourcing market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Services

  • Payroll outsourcing
  • Recruitment process outsourcing
  • Multi-process human resource outsourcing
  • Learning services outsourcing
  • Other services

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of HR Outsourcing market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2030.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the HR Outsourcing market?
  • Which is the largest regional market for HR Outsourcing market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving HR Outsourcing market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the HR Outsourcing market worldwide?


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Table of Contents

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted

2. Executive Summary
2.1. Market Snapshot: Global HR Outsourcing Market
2.2. Global HR Outsourcing Market, By Services, 2021 (US$ Billion)
2.3. Global HR Outsourcing Market, By Geography, 2021 (US$ Billion)
2.4. Attractive Investment Proposition by Geography, 2021

3. HR Outsourcing Market: Competitive Analysis
3.1. Market Positioning of Key HR Outsourcing Market Vendors
3.2. Strategies Adopted by HR Outsourcing Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030

4. HR Outsourcing Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global HR Outsourcing Market Value, 2020 - 2030, (US$ Billion)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis

5. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Payroll outsourcing
5.3.2. Recruitment process outsourcing
5.3.3. Multi-process human resource outsourcing
5.3.4. Learning services outsourcing
5.3.5. Other services

6. North America HR Outsourcing Market, 2020-2030, USD (Billion)
6.1. Market Overview
6.2. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
6.3.HR Outsourcing Market: By Region, 2020-2030, USD (Billion)
6.3.1.North America
6.3.1.1. U.S.
6.3.1.1.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
6.3.1.2. Canada
6.3.1.2.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
6.3.1.3. Rest of North America
6.3.1.3.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)

7. UK and European Union HR Outsourcing Market, 2020-2030, USD (Billion)
7.1. Market Overview
7.2. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
7.3.HR Outsourcing Market: By Region, 2020-2030, USD (Billion)
7.3.1.UK and European Union
7.3.1.1. UK
7.3.1.1.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
7.3.1.2. Germany
7.3.1.2.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
7.3.1.3. Spain
7.3.1.3.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
7.3.1.4. Italy
7.3.1.4.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
7.3.1.5. France
7.3.1.5.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
7.3.1.6. Rest of Europe
7.3.1.6.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)

8. Asia Pacific HR Outsourcing Market, 2020-2030, USD (Billion)
8.1. Market Overview
8.2. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
8.3.HR Outsourcing Market: By Region, 2020-2030, USD (Billion)
8.3.1.Asia Pacific
8.3.1.1. China
8.3.1.1.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
8.3.1.2. Japan
8.3.1.2.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
8.3.1.3. India
8.3.1.3.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
8.3.1.4. Australia
8.3.1.4.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
8.3.1.5. South Korea
8.3.1.5.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
8.3.1.6. Rest of Asia Pacific
8.3.1.6.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)

9. Latin America HR Outsourcing Market, 2020-2030, USD (Billion)
9.1. Market Overview
9.2. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
9.3.HR Outsourcing Market: By Region, 2020-2030, USD (Billion)
9.3.1.Latin America
9.3.1.1. Brazil
9.3.1.1.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
9.3.1.2. Mexico
9.3.1.2.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
9.3.1.3. Rest of Latin America
9.3.1.3.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)

10. Middle East and Africa HR Outsourcing Market, 2020-2030, USD (Billion)
10.1. Market Overview
10.2. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
10.3.HR Outsourcing Market: By Region, 2020-2030, USD (Billion)
10.3.1.Middle East and Africa
10.3.1.1. GCC
10.3.1.1.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
10.3.1.2. Africa
10.3.1.2.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)
10.3.1.3. Rest of Middle East and Africa
10.3.1.3.1. HR Outsourcing Market: By Services, 2020-2030, USD (Billion)

11. Company Profile
11.1. IBM Corporation
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Portfolio
11.1.4. Strategic Initiatives
11.2. Accenture Plc
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Product Portfolio
11.2.4. Strategic Initiatives
11.3. Infosys Limited
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Product Portfolio
11.3.4. Strategic Initiatives
11.4. Randstad N.V.
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Product Portfolio
11.4.4. Strategic Initiatives
11.5. Automatic Data Processing, Inc.
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Product Portfolio
11.5.4. Strategic Initiatives
11.6. HCL Technologies Limited
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Product Portfolio
11.6.4. Strategic Initiatives
11.7. Wipro Limited
11.7.1. Company Overview
11.7.2. Financial Performance
11.7.3. Product Portfolio
11.7.4. Strategic Initiatives
11.8. Xerox Corporation
11.8.1. Company Overview
11.8.2. Financial Performance
11.8.3. Product Portfolio
11.8.4. Strategic Initiatives
11.9. Tata Consultancy Services Limited
11.9.1. Company Overview
11.9.2. Financial Performance
11.9.3. Product Portfolio
11.9.4. Strategic Initiatives
11.10. SurePayroll
11.10.1. Company Overview
11.10.2. Financial Performance
11.10.3. Product Portfolio
11.10.4. Strategic Initiatives

List of Figures
Figure 1 Global HR Outsourcing Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global HR Outsourcing Market: Quality Assurance
Figure 5 Global HR Outsourcing Market, By Services, 2021
Figure 6 Global HR Outsourcing Market, By Geography, 2021
Figure 7 Market Geographical Opportunity Matrix - Global HR Outsourcing Market, 2021
Figure 8 Market Positioning of Key HR Outsourcing Market Players, 2021
Figure 9 Global HR Outsourcing Market - Tier Analysis - Percentage of Revenues by Tier Level, 2021 Versus 2030
Figure 10 Global HR Outsourcing Market, By Services, 2021 Vs 2030, %
Figure 11 U.S. HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 12 Canada HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 13 Rest of North America HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 14 UK HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 15 Germany HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 16 Spain HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 17 Italy HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 18 France HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 19 Rest of Europe HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 20 China HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 21 Japan HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 22 India HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 23 Australia HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 24 South Korea HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 25 Rest of Asia HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 26 Brazil HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 27 Mexico HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 28 Rest of Latin America HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 29 GCC HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 30 Africa HR Outsourcing Market (US$ Billion), 2020 - 2030
Figure 31 Rest of Middle East and Africa HR Outsourcing Market (US$ Billion), 2020 - 2030

List of Tables
Table 1 Global HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 2 North America HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 3 U.S. HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 4 Canada HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 5 Rest of North America HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 6 UK and European Union HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 7 UK HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 8 Germany HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 9 Spain HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 10 Italy HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 11 France HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 12 Rest of Europe HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 13 Asia HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 14 China HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 15 Japan HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 16 India HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 17 Australia HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 18 South Korea HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 19 Latin America HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 20 Brazil HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 21 Mexico HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 22 Rest of Latin America HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 23 Middle East and Africa HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 24 GCC HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 25 Africa HR Outsourcing Market By Services, 2020-2030, USD (Billion)
Table 26 Rest of Middle East and Africa HR Outsourcing Market By Services, 2020-2030, USD (Billion)

Companies Mentioned

  • IBM Corporation
  • Accenture Plc
  • Infosys Limited
  • Randstad
  • ADP
  • HCL Technologies
  • Wipro Limited
  • Xerox Corporation
  • Tata Consultancy Services
  • SurePayroll

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