New York, March 10, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Human Resource Outsourcing (HRO) Industry" - https://www.reportlinker.com/p0920813/?utm_source=GNW
4%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$20.9 Billion by the year 2025, Payroll Services will bring in healthy gains adding significant momentum to global growth.
- Representing the developed world, the United States will maintain a 6.2% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$694.9 Million to the region’s size and clout in the next 5 to 6 years. Over US$616.3 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Payroll Services will reach a market size of US$1.7 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 5% over the next couple of years and add approximately US$2.3 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
- Competitors identified in this market include, among others,
- Accenture Plc
- Adecco Group AG
- ADP LLC
- Aon Hewitt
- Cielo, Inc.
- Ceridian HCM, Inc.
- CGI Group, Inc.
- Equifax, Inc.
- General Outsourcing Co., Ltd.
- Infosys BPM Ltd.
- International Business Machines Corp.
- Intuit, Inc.
- Kronos, Inc.
- Mercer, LLC
- NGA Human Resources
- Paychex, Inc.
- Randstad Holding NV
- Ultimate Software Group, Inc.
Read the full report: https://www.reportlinker.com/p0920813/?utm_source=GNW
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
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
4. GLOBAL MARKET PERSPECTIVE
Table 1: Human Resource Outsourcing (HRO) Global Market
Estimates and Forecasts in US$ Million by Region/Country:
2018-2025
Table 2: Human Resource Outsourcing (HRO) Global Retrospective
Market Scenario in US$ Million by Region/Country: 2009-2017
Table 3: Human Resource Outsourcing (HRO) Market Share Shift
across Key Geographies Worldwide: 2009 VS 2019 VS 2025
Table 4: Payroll Services (Service Type) World Market by
Region/Country in US$ Million: 2018 to 2025
Table 5: Payroll Services (Service Type) Historic Market
Analysis by Region/Country in US$ Million: 2009 to 2017
Table 6: Payroll Services (Service Type) Market Share Breakdown
of Worldwide Sales by Region/Country: 2009 VS 2019 VS 2025
Table 7: Benefits Administration Services (Service Type)
Potential Growth Markets Worldwide in US$ Million: 2018 to 2025
Table 8: Benefits Administration Services (Service Type)
Historic Market Perspective by Region/Country in US$ Million:
2009 to 2017
Table 9: Benefits Administration Services (Service Type) Market
Sales Breakdown by Region/Country in Percentage: 2009 VS 2019
VS 2025
Table 10: Education & Training Services (Service Type)
Geographic Market Spread Worldwide in US$ Million: 2018 to 2025
Table 11: Education & Training Services (Service Type) Region
Wise Breakdown of Global Historic Demand in US$ Million: 2009
to 2017
Table 12: Education & Training Services (Service Type) Market
Share Distribution in Percentage by Region/Country: 2009 VS
2019 VS 2025
Table 13: Recruitment Process Outsourcing (Service Type) World
Market Estimates and Forecasts by Region/Country in US$
Million: 2018 to 2025
Table 14: Recruitment Process Outsourcing (Service Type) Market
Historic Review by Region/Country in US$ Million: 2009 to 2017
Table 15: Recruitment Process Outsourcing (Service Type) Market
Share Breakdown by Region/Country: 2009 VS 2019 VS 2025
Table 16: Other Service Types (Service Type) World Market by
Region/Country in US$ Million: 2018 to 2025
Table 17: Other Service Types (Service Type) Historic Market
Analysis by Region/Country in US$ Million: 2009 to 2017
Table 18: Other Service Types (Service Type) Market Share
Distribution in Percentage by Region/Country: 2009 VS 2019 VS
2025
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: 2018
to 2025
Table 20: Human Resource Outsourcing (HRO) Market in the United
States by Service Type: A Historic Review in US$ Million for
2009-2017
Table 21: United States Human Resource Outsourcing (HRO) Market
Share Breakdown by Service Type: 2009 VS 2019 VS 2025
CANADA
Table 22: Canadian Human Resource Outsourcing (HRO) Market
Estimates and Forecasts in US$ Million by Service Type: 2018 to
2025
Table 23: Canadian Human Resource Outsourcing (HRO) Historic
Market Review by Service Type in US$ Million: 2009-2017
Table 24: Human Resource Outsourcing (HRO) Market in Canada:
Percentage Share Breakdown of Sales by Service Type for 2009,
2019, and 2025
JAPAN
Table 25: Japanese Market for Human Resource Outsourcing (HRO):
Annual Sales Estimates and Projections in US$ Million by
Service Type for the Period 2018-2025
Table 26: Human Resource Outsourcing (HRO) Market in Japan:
Historic Sales Analysis in US$ Million by Service Type for the
Period 2009-2017
Table 27: Japanese Human Resource Outsourcing (HRO) Market
Share Analysis by Service Type: 2009 VS 2019 VS 2025
CHINA
Table 28: Chinese Human Resource Outsourcing (HRO) Market
Growth Prospects in US$ Million by Service Type for the Period
2018-2025
Table 29: Human Resource Outsourcing (HRO) Historic Market
Analysis in China in US$ Million by Service Type: 2009-2017
Table 30: Chinese Human Resource Outsourcing (HRO) Market by
Service Type: Percentage Breakdown of Sales for 2009, 2019, and
2025
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: 2018-2025
Table 32: Human Resource Outsourcing (HRO) Market in Europe:
A Historic Market Perspective in US$ Million by Region/Country
for the Period 2009-2017
Table 33: European Human Resource Outsourcing (HRO) Market
Share Shift by Region/Country: 2009 VS 2019 VS 2025
Table 34: European Human Resource Outsourcing (HRO) Market
Estimates and Forecasts in US$ Million by Service Type:
2018-2025
Table 35: Human Resource Outsourcing (HRO) Market in Europe in
US$ Million by Service Type: A Historic Review for the Period
2009-2017
Table 36: European Human Resource Outsourcing (HRO) Market
Share Breakdown by Service Type: 2009 VS 2019 VS 2025
FRANCE
Table 37: Human Resource Outsourcing (HRO) Market in France by
Service Type: Estimates and Projections in US$ Million for the
Period 2018-2025
Table 38: French Human Resource Outsourcing (HRO) Historic
Market Scenario in US$ Million by Service Type: 2009-2017
Table 39: French Human Resource Outsourcing (HRO) Market Share
Analysis by Service Type: 2009 VS 2019 VS 2025
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 2018-2025
Table 41: German Human Resource Outsourcing (HRO) Historic
Market Analysis in US$ Million by Service Type: 2009-2017
Table 42: German Human Resource Outsourcing (HRO) Market Share
Breakdown by Service Type: 2009 VS 2019 VS 2025
ITALY
Table 43: Italian Human Resource Outsourcing (HRO) Market
Growth Prospects in US$ Million by Service Type for the Period
2018-2025
Table 44: Human Resource Outsourcing (HRO) Historic Market
Analysis in Italy in US$ Million by Service Type: 2009-2017
Table 45: Italian Human Resource Outsourcing (HRO) Market by
Service Type: Percentage Breakdown of Sales for 2009, 2019, and
2025
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 2018-2025
Table 47: Human Resource Outsourcing (HRO) Market in the United
Kingdom: Historic Sales Analysis in US$ Million by Service Type
for the Period 2009-2017
Table 48: United Kingdom Human Resource Outsourcing (HRO)
Market Share Analysis by Service Type: 2009 VS 2019 VS 2025
REST OF EUROPE
Table 49: Rest of Europe Human Resource Outsourcing (HRO)
Market Estimates and Forecasts in US$ Million by Service Type:
2018-2025
Table 50: Human Resource Outsourcing (HRO) Market in Rest of
Europe in US$ Million by Service Type: A Historic Review for
the Period 2009-2017
Table 51: Rest of Europe Human Resource Outsourcing (HRO)
Market Share Breakdown by Service Type: 2009 VS 2019 VS 2025
ASIA-PACIFIC
Table 52: Human Resource Outsourcing (HRO) Market in
Asia-Pacific by Service Type: Estimates and Projections in US$
Million for the Period 2018-2025
Table 53: Asia-Pacific Human Resource Outsourcing (HRO)
Historic Market Scenario in US$ Million by Service Type:
2009-2017
Table 54: Asia-Pacific Human Resource Outsourcing (HRO) Market
Share Analysis by Service Type: 2009 VS 2019 VS 2025
REST OF WORLD
Table 55: Rest of World Human Resource Outsourcing (HRO) Market
Estimates and Forecasts in US$ Million by Service Type: 2018 to
2025
Table 56: Rest of World Human Resource Outsourcing (HRO)
Historic Market Review by Service Type in US$ Million:
2009-2017
Table 57: Human Resource Outsourcing (HRO) Market in Rest of
World: Percentage Share Breakdown of Sales by Service Type for
2009, 2019, and 2025
IV. COMPETITION
Total Companies Profiled: 188
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