Global Human Resource Outsourcing (HRO) Industry

NEW YORK, Sept. 8, 2020 /PRNewswire/ --

Amid the COVID-19 crisis, the global market for Human Resource Outsourcing (HRO) estimated at US$32.8 Billion in the year 2020, is projected to reach a revised size of US$45.8 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Payroll Services, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$21.3 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 Benefits Administration Services segment is readjusted to a revised 5.2% CAGR for the next 7-year period.



Read the full report: https://www.reportlinker.com/p0920813/?utm_source=PRN



The U.S. Market is Estimated at $9.7 Billion, While China is Forecast to Grow at 4.7% CAGR

The Human Resource Outsourcing (HRO) market in the U.S. is estimated at US$9.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.2 Billion by the year 2027 trailing a CAGR of 4.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

Education & Training Services Segment to Record 4.3% CAGR

In the global Education & Training Services segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$3.4 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$5.1 Billion by the year 2027.We bring years of research experience to this 16th edition of our report. The 281-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,

• Accenture Plc
• ADP LLC
• Aon Hewitt
• Ceridian HCM, Inc.
• CGI Group, Inc.
• Cielo, Inc.
• Equifax, Inc.
• General Outsourcing Co., Ltd.
• IBM Corp.
• Infosys BPM Ltd.
• Intuit, Inc.
• Kronos, Inc.
• Mercer, LLC
• NGA Human Resources
• Paychex, Inc.
• Randstad Holding NV
• The ADECCO Group
• Ultimate Software Group, Inc.

Read the full report: https://www.reportlinker.com/p0920813/?utm_source=PRN

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Recent Market Activity
A Prelude
HRO - A Rapidly Growing BPO Segment
Snapshots
Growth Drivers
Growth Restraints
Market Outlook
Growth Opportunities in Service Segments
Emerging Markets to Drive Future Growth
Cost Reduction: Finding Favor Again in Difficult Times
Need for Regulatory Compliance Drives Adoption of HRO Services
Lowering Risk Levels & Simpler HRO Engagements - Key Growth
Drivers
Multi-Process HRO (MPHRO): Favorable Prospects in the Long Run
Shift towards Cloud-based Platforms Drives MPHRO Market
More Organizations Gravitate towards HR Outsourcing
Factors Creating Need for HR Outsourcing
Future of HR Outsourcing
Key Considerations
Sourcing Strategy/Model: Means to Achieve Business Process
Global Competitor Market Shares
Human Resource Outsourcing (HRO) Competitor Market Share
Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
Accenture Plc (Ireland)
Adecco Group AG (Switzerland)
ADP LLC (USA)
Aon Hewitt (USA)
Cielo, Inc. (USA)
Ceridian HCM, Inc. (USA)
CGI Group, Inc. (Canada)
Equifax, Inc. (USA)
General Outsourcing Co., Ltd. (Thailand)
Infosys BPM Ltd. (India)
International Business Machines Corporation (USA)
Intuit, Inc. (USA)
Kronos, Inc. (USA)
Mercer, LLC (UK)
NGA Human Resources (UK)
Paychex, Inc. (USA)
Randstad Holding NV (The Netherlands)
Ultimate Software Group, Inc. (USA)

3. MARKET TRENDS & DRIVERS
Noteworthy Trends Influencing the HR Outsourcing Market
Continuous Adoption of Services Propels HRO Industry
Cloud - The Preferred Platform for HRO
BPaaS - A Growing Trend
Cloud-Based Recruitment Software Rises in Popularity
HRO Analytics Gain Prominence in HR Management & Administration
Predictive Analytics - An Indispensable tool for HR
Robotic Automation Makes In Roads in HRO Industry
Trend towards Process Convergence
Moving to a 'Transformational-Transfer' Model
Focus Grows on Small and Mid-Size Companies
Select HR Outsourcing Trends Related to Small Businesses
HR BPO Redefines HR Profession
End-to-End Services: Rise in HRO
Demographic Changes Support HRO Growth
Selective Approach Finds Favor
Offshore HR BPO: Driving Cost-Effectiveness
Focus on Business Process Improvement Gains Momentum
PEO Concept Gains Strength
Benefits and Drawbacks of PEO
Recruitment Process Outsourcing - Gaining Wider Attention
Factors Driving Growth in the RPO Market
Key Recruitment Process Functions Outsourced by Order of
Importance
RPO Sector Registers Growth in Number of Deals
Offshoring of RPO Services Picks Up Pace
Talent Acquisition - Changing Definition of RPOs
Digitization of Talent Acquisition Process
Payroll Outsourcing Services Rise in Adoption
Multi-Country Payroll Outsourcing - A High Growth Market
Benefits Administration: Offering Potential Growth
Opportunities for Outsourcing
Trend towards Health & Welfare Services Drives Growth in BAO
Workforce Management Outsourcing Gains Pace
Learning Outsourcing Services - Fulfilling Training Requirements
Market Challenges
Challenges in HR Transformation
HRMS: A Competitor for HRO Market
Market Outlook

4. GLOBAL MARKET PERSPECTIVE
Table 1: Human Resource Outsourcing (HRO) Global Market
Estimates and Forecasts in US$ Million by Region/Country:
2020-2027

Table 2: Human Resource Outsourcing (HRO) Global Retrospective
Market Scenario in US$ Million by Region/Country: 2012-2019

Table 3: Human Resource Outsourcing (HRO) Market Share Shift
across Key Geographies Worldwide: 2012 VS 2020 VS 2027

Table 4: Payroll Services (Service Type) World Market by
Region/Country in US$ Million: 2020 to 2027

Table 5: Payroll Services (Service Type) Historic Market
Analysis by Region/Country in US$ Million: 2012 to 2019

Table 6: Payroll Services (Service Type) Market Share Breakdown
of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027

Table 7: Benefits Administration Services (Service Type)
Potential Growth Markets Worldwide in US$ Million: 2020 to 2027

Table 8: Benefits Administration Services (Service Type)
Historic Market Perspective by Region/Country in US$ Million:
2012 to 2019

Table 9: Benefits Administration Services (Service Type) Market
Sales Breakdown by Region/Country in Percentage: 2012 VS 2020
VS 2027

Table 10: Education & Training Services (Service Type)
Geographic Market Spread Worldwide in US$ Million: 2020 to 2027

Table 11: Education & Training Services (Service Type) Region
Wise Breakdown of Global Historic Demand in US$ Million: 2012
to 2019

Table 12: Education & Training Services (Service Type) Market
Share Distribution in Percentage by Region/Country: 2012 VS
2020 VS 2027

Table 13: Recruitment Process Outsourcing (Service Type) World
Market Estimates and Forecasts by Region/Country in US$
Million: 2020 to 2027

Table 14: Recruitment Process Outsourcing (Service Type) Market
Historic Review by Region/Country in US$ Million: 2012 to 2019

Table 15: Recruitment Process Outsourcing (Service Type) Market
Share Breakdown by Region/Country: 2012 VS 2020 VS 2027

Table 16: Other Service Types (Service Type) World Market by
Region/Country in US$ Million: 2020 to 2027

Table 17: Other Service Types (Service Type) Historic Market
Analysis by Region/Country in US$ Million: 2012 to 2019

Table 18: Other Service Types (Service Type) Market Share
Distribution in Percentage by Region/Country: 2012 VS 2020 VS
2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
US Human Resource Outsourcing (HRO) Market Share (in %) by
Company: 2020 & 2025
Market Analytics
Table 19: United States Human Resource Outsourcing (HRO) Market
Estimates and Projections in US$ Million by Service Type: 2020
to 2027

Table 20: Human Resource Outsourcing (HRO) Market in the United
States by Service Type: A Historic Review in US$ Million for
2012-2019

Table 21: United States Human Resource Outsourcing (HRO) Market
Share Breakdown by Service Type: 2012 VS 2020 VS 2027

CANADA
Table 22: Canadian Human Resource Outsourcing (HRO) Market
Estimates and Forecasts in US$ Million by Service Type: 2020 to
2027

Table 23: Canadian Human Resource Outsourcing (HRO) Historic
Market Review by Service Type in US$ Million: 2012-2019

Table 24: Human Resource Outsourcing (HRO) Market in Canada:
Percentage Share Breakdown of Sales by Service Type for 2012,
2020, and 2027

JAPAN
Table 25: Japanese Market for Human Resource Outsourcing (HRO):
Annual Sales Estimates and Projections in US$ Million by
Service Type for the Period 2020-2027

Table 26: Human Resource Outsourcing (HRO) Market in Japan:
Historic Sales Analysis in US$ Million by Service Type for the
Period 2012-2019

Table 27: Japanese Human Resource Outsourcing (HRO) Market
Share Analysis by Service Type: 2012 VS 2020 VS 2027

CHINA
Table 28: Chinese Human Resource Outsourcing (HRO) Market
Growth Prospects in US$ Million by Service Type for the Period
2020-2027

Table 29: Human Resource Outsourcing (HRO) Historic Market
Analysis in China in US$ Million by Service Type: 2012-2019

Table 30: Chinese Human Resource Outsourcing (HRO) Market by
Service Type: Percentage Breakdown of Sales for 2012, 2020, and
2027

EUROPE
Market Facts & Figures
European Human Resource Outsourcing (HRO) Market: Competitor
Market Share Scenario (in %) for 2020 & 2025
Market Analytics
Table 31: European Human Resource Outsourcing (HRO) Market
Demand Scenario in US$ Million by Region/Country: 2020-2027

Table 32: Human Resource Outsourcing (HRO) Market in Europe:
A Historic Market Perspective in US$ Million by Region/Country
for the Period 2012-2019

Table 33: European Human Resource Outsourcing (HRO) Market
Share Shift by Region/Country: 2012 VS 2020 VS 2027

Table 34: European Human Resource Outsourcing (HRO) Market
Estimates and Forecasts in US$ Million by Service Type:
2020-2027

Table 35: Human Resource Outsourcing (HRO) Market in Europe in
US$ Million by Service Type: A Historic Review for the Period
2012-2019

Table 36: European Human Resource Outsourcing (HRO) Market
Share Breakdown by Service Type: 2012 VS 2020 VS 2027

FRANCE
Table 37: Human Resource Outsourcing (HRO) Market in France by
Service Type: Estimates and Projections in US$ Million for the
Period 2020-2027

Table 38: French Human Resource Outsourcing (HRO) Historic
Market Scenario in US$ Million by Service Type: 2012-2019

Table 39: French Human Resource Outsourcing (HRO) Market Share
Analysis by Service Type: 2012 VS 2020 VS 2027

GERMANY
Table 40: Human Resource Outsourcing (HRO) Market in Germany:
Recent Past, Current and Future Analysis in US$ Million by
Service Type for the Period 2020-2027

Table 41: German Human Resource Outsourcing (HRO) Historic
Market Analysis in US$ Million by Service Type: 2012-2019

Table 42: German Human Resource Outsourcing (HRO) Market Share
Breakdown by Service Type: 2012 VS 2020 VS 2027

ITALY
Table 43: Italian Human Resource Outsourcing (HRO) Market
Growth Prospects in US$ Million by Service Type for the Period
2020-2027

Table 44: Human Resource Outsourcing (HRO) Historic Market
Analysis in Italy in US$ Million by Service Type: 2012-2019

Table 45: Italian Human Resource Outsourcing (HRO) Market by
Service Type: Percentage Breakdown of Sales for 2012, 2020, and
2027

UNITED KINGDOM
Table 46: United Kingdom Market for Human Resource Outsourcing
(HRO): Annual Sales Estimates and Projections in US$ Million by
Service Type for the Period 2020-2027

Table 47: Human Resource Outsourcing (HRO) Market in the United
Kingdom: Historic Sales Analysis in US$ Million by Service Type
for the Period 2012-2019

Table 48: United Kingdom Human Resource Outsourcing (HRO)
Market Share Analysis by Service Type: 2012 VS 2020 VS 2027

REST OF EUROPE
Table 49: Rest of Europe Human Resource Outsourcing (HRO)
Market Estimates and Forecasts in US$ Million by Service Type:
2020-2027

Table 50: Human Resource Outsourcing (HRO) Market in Rest of
Europe in US$ Million by Service Type: A Historic Review for
the Period 2012-2019

Table 51: Rest of Europe Human Resource Outsourcing (HRO)
Market Share Breakdown by Service Type: 2012 VS 2020 VS 2027

ASIA-PACIFIC
Table 52: Human Resource Outsourcing (HRO) Market in
Asia-Pacific by Service Type: Estimates and Projections in US$
Million for the Period 2020-2027

Table 53: Asia-Pacific Human Resource Outsourcing (HRO)
Historic Market Scenario in US$ Million by Service Type:
2012-2019

Table 54: Asia-Pacific Human Resource Outsourcing (HRO) Market
Share Analysis by Service Type: 2012 VS 2020 VS 2027

REST OF WORLD
Table 55: Rest of World Human Resource Outsourcing (HRO) Market
Estimates and Forecasts in US$ Million by Service Type: 2020 to
2027

Table 56: Rest of World Human Resource Outsourcing (HRO)
Historic Market Review by Service Type in US$ Million:
2012-2019

Table 57: Human Resource Outsourcing (HRO) Market in Rest of
World: Percentage Share Breakdown of Sales by Service Type for
2012, 2020, and 2027

IV. COMPETITION
Total Companies Profiled: 188
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