According to Technavio’s current market research analysis, the global recruitment process outsourcing market is expected to grow at a CAGR of close to 18% during the estimated period 2017 to 2021.
This industry analysis by Technavio delivers an exhaustive study of the global recruitment process outsourcing market in terms of revenue and evolving market trends. The report also contains an up-to-date breakdown and forecasts for numerous market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing product segments are discussed below
Global recruitment process outsourcing market in BFSI sector: Increasing investments for the introduction of new products and services and managed regulatory compliance will propel the need for RPO in the BFSI sector. The various companies in this industry opt for these services to minimize the cost of in-house management of HR process and focus more on the demands of customers, cost efficiency, and gain additional profits.
“The diversification of banking services is increasing the need for hiring the suitable talent for different banking operations. Some of these banking services are retail banking, corporate banking, investment banking, commercial banking, capital markets, and mutual funds. The use of RPO services will help these companies to manage recruitment process through next-generation IT solutions like analytics,” says Amit Sharma, a lead analyst at Technavio for research on IT professional services.
Global recruitment process outsourcing market in the manufacturing sector: The introduction of automation and flexible production techniques in manufacturing to enhance their productivity will increase the demand for RPO in this market segment. The implementation of big data analytics with Internet of Things (IoT) will require the companies to opt for RPO services to enhance their productivity. The use of these services establishes a seamless connection for efficient communication among machines, systems, and people.
Global recruitment process outsourcing market in the energy sector: The service providers in the market are offering industry-specific outsourcing solutions across the entire value chain in the energy sector to tap new market opportunities. Outsourced services cover IT infrastructure, enterprise resource planning (ERP) platform integration, automation systems, SCM, and energy trading and risk management (ERTM) solutions. Such services fuel the demand in the global RPO services market during the forecast period.
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The leading vendors operating in the global recruitment process outsourcing market are:
- ADP
- IBM
- ManpowerGroup
- Randstad Sourceright
Other prominent vendors in the market include Accenture, Alexander Mann Solutions, Allegis Global Solutions, Futurestep, Hays, Hudson, Infosys, KellyOCG, and Pontoon Solutions.
A more exhaustive analysis is available in the Technavio report titled, ‘Global Recruitment Process Outsourcing Market 2017-2021’. Technavio also customizes reports by other areas and particular segments upon request.
Other related reports
- Global General and Administrative Outsourcing Market 2016-2020
- Global Human Resource Outsourcing Market 2016-2020
- Online Recruitment Market in the US 2016-2020
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