The report of Global Recruitment Process Outsourcing (RPO) Market by Type (MCRPO, Blended RPO), Engagement Models (On-demand, End-to-end RPO models), Application (Telecom, Healthcare, Energy, Manufacturing, BFSI), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Bn by 2027, at a CAGR of 22.3% during a forecast period.
Recruitment process outsourcing refers to an outsourced service where the customer organization handovers all or some of the recruitment processes to a third-party (RPO) vendor. The most major factor fueling the market growth is the reduction in overhead costs of the client organizations. Moreover, outsourcing recruitment processes makes hiring much easier, faster and productive as related to the traditional recruitment processes.
IT and Telecom segments are expected to account for the largest XX% market share by 2027.
The IT & telecommunication segment with over one-fourth of the overall market revenue. The market for RPO is majorly governed by the ever-growing need for productive recruitment in the industry. Since the IT & telecommunication segment is among the most dynamic industries in terms of recruitment, the segment is likely to retain its dominant position, in the market.
North America is projected to witness the fastest growth during the forecast period.
Recruitment Process Outsourcing is popular majorly in North America and Europe where the approval of these services dates back to the early 2000s. However, APAC is estimated to emerge as the highest rising market for RPO, in terms of revenue and adoption, in the upcoming years. The demand for RPO service is majorly governed by the increasing number of business enterprises coupled with the necessity for productive recruitment. Because of strong growth across various industrial sectors in economies such as India China, and some of the Southeast Asian countries, the RPO market in APAC is expected to expand nearly fourfold by 2020.
Key players operating in the Global Recruitment Process Outsourcing (RPO) Market are AlexanderMann Solutions, AllegisTalent2, Aon Hewitt, Futurestep, Hays, Hudson, IBM, Infosys, KellyOCG, Kenexa, ManpowerGroup, Randstad Sourceright, Korn Ferry.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Recruitment Process Outsourcing (RPO) Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Recruitment Process Outsourcing (RPO) Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Recruitment Process Outsourcing (RPO) Market positioning of competitors.
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