According to a new market research a report published by Credence Research “Global HR outsourcing Market (Services (Payroll outsourcing, Recruitment process outsourcing, Multi-process human resource outsourcing, Learning services outsourcing and Other service)) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, Globally, the HR outsourcing market is expected to grow with a CAGR of more than 10% during the forecast period from 2019 to 2027.
At present, HR outsourcing the market is one of the trending domain in the Business Process Outsourcing (BPO). The growing digitalization across BFSI, healthcare, IT, hospitality, retail, and other industries are majorly creating the demand of HR outsourcing market all over the world. The introduction of advanced technologies in organization management is contributing to the growth of the HR outsourcing market.
In addition, the most effective and efficient processes offered by HR outsourcing are anticipated to boost the demand of the HR outsourcing market in upcoming years. It also provides increased flexibility and speed of response. On the other hand, legal or regulatory requirements of HR outsourcing are expected to restrain the market growth during the forecast period. Moreover, the adoption of artificial intelligent in HR outsourcing is projected to create numerous opportunities in the HR outsourcing market in the upcoming years.
The Global HR outsourcing market is segmented by services and the region. The service segment further bifurcated into Payroll outsourcing, Recruitment process outsourcing, Multi-process human resource outsourcing, Learning services outsourcing and other service. Payroll outsourcing is estimated to dominate the market of the HR outsourcing market. The growing digitalization across numerous industry verticals is driving the growth of payroll service in the HR outsourcing market. The high adoption of recruitment analytics is projected to provide various growth opportunities for the HR outsourcing market.
The global market of HR outsourcing covers North America, Europe, Asia Pacific, and Asia Pacific regions in the report. North America held the maximum market share in the HR outsourcing market in 2018. The high adoption of recruitment analytics across various industry verticals is the primary driving the growth North America HR outsourcing market. In addition, the acceptance of multi-country PO model to analysis the different growth patterns of interdependent economies are boosting the growth of the HR outsourcing market in North America. Moreover, Asia Pacific is the fastest-growing region in the HR outsourcing market. The technological innovations and advancements in the HR outsourcing are contributing to the growth of the HR outsourcing market in this region.
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.
Browse the full report at https://www.credenceresearch.com/report/hr-outsourcing-market
The Global HR outsourcing Market is Segmented into:
|Segmentation||By Services Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page