Product Code: RP-ID-10335702 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: ICT & Telecom |
Report ID: 10335702
Market Overview:
Global and Southeast Asia RPO (Recruitment Process Outsourcing) Market Outlook 2028
Global and Southeast Asia Recruitment Process Outsourcing Market Analysis 2019-2028
Recruitment Process Outsourcing includes the services offered by third-party service provider for managing the entire process of recruitment and related supply partners for providing the required skills, technologies, tools, activities and process methodologies for client’s recruitment department. The global and Southeast Asia recruitment process outsourcing (RPO) market is anticipated to achieve a CAGR of 20.80% during the forecast period, i.e. 2020-2028. Factors such as the increasing opportunities generated by the integration of artificial intelligence with recruitment process outsourcing, followed by the shift from the traditional recruitment process of face to face interviews to digitalized practice with the use of algorithms and analytics to identify the candidate before contacting with them and the increasing number of small and medium sized business are anticipated to promote towards the growth of the global and Southeast Asia recruitment process outsourcing (RPO) market. Additionally, factors such as the increasing number of graduates and post-graduates across the globe along with the increasing industrialization globally and the modernization of tools coupled with improved diversity and compliance, along with the rapid globalization are anticipated to drive the growth of the global and Southeast Asia recruitment process outsourcing market.
The global and Southeast Asia recruitment process outsourcing (RPO) market consists of various segments that are segmented by type of outsourcing, service, engagement, industry vertical and by region. The industry vertical segment is further sub-divided into IT & telecommunications, manufacturing, BFSI, healthcare, government, education and others. Out of these, the IT & telecommunications segment held the largest market share of around 23% in the year 2019 and is further expected to grow by a CAGR of around 22% during the forecast period. Additionally, the segment is also anticipated to cross a value of around USD 8100 million by the end of 2028.
Based on region, the global and Southeast Asia recruitment process outsourcing (RPO) market is segmented into North America, Europe, Asia Pacific except SEA, Southeast Asia, Latin America and Middle East & Africa. The market in Asia Pacific except SEA, which had accounted for around 10% share in the year 2019, is estimated to witness a CAGR of around 22% over the forecast period and is further expected to cross a value of around USD 3200 million by the end of 2028.
Some of the affluent industry leaders in the global and Southeast Asia recruitment process outsourcing (RPO) market are Hueman, LevelUP HCS, Advanced RPO, Y Scouts, Alexander Mann Solutions, PeopleScout – A TrueBlue Company, ManpowerGroup, Hudson Global Inc., EPS Recruitment Thailand and Wizmatrix.
Hueman, LevelUP HCS, Advanced RPO, Y Scouts, Alexander Mann Solutions, PeopleScout – A TrueBlue Company, ManpowerGroup, Hudson Global Inc., EPS Recruitment Thailand and Wizmatrix.
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