Segmentation By Type of Outsourcing (On-Demand RPO, Function-Based RPO and Full RPO); By Service (On-Site and Off-Site); By Engagement (Total RPO and Partial RPO) and By Industry Vertical (IT & Telecommunications, Manufacturing, BFSI, Healthcare, Government, Education and Others) – Industry Demand Analysis and Opportunity Assessment 2019-2028
Buy Now
The increasing number of graduates and post-graduates across the globe along with the increasing industrialization is addressing the need for the employment, and hence boosting the demand for RPO solutions. Various countries around the world have diverse pattern of education, on account of which there is a different type of employment requirement as per the countries. Offsite RPO solution is generally preferred by the sectors of the country where there is a smaller number of graduates to meet the requirement. According to IPUMS, in the year 2018, almost 1/4th of millennial, i.e. 24% of the millennial population globally have a graduation certification, and thus they are looking for employment. The RPO service provider can simultaneously be beneficial for both the organization and the candidate to align a appropriate job for the suitable candidate. This may provide a significant boost for the market growth of RPO across the globe. Moreover, the market is anticipated to get a boost with the surge in requirement of quality hires by the organizations. To support the extensive use of recruitment process outsourcing (RPO), keen initiatives have been taken by the key players in the market such as advancement in tools, adoption of cloud-based services and flexibility retaliate faster to changing market. Moreover, modernization of tools coupled with improved diversity and compliance are further contributing to the market growth. Rapid globalization on account of increasing industrialization is also giving significant boost to the requirement rate of recruitment in various industrial verticals. Such factors are anticipated to drive the growth of the global and Southeast Asia recruitment process outsourcing market.
The period of time that the recruitment process takes to hire the right applicant is one of the biggest challenges many recruiters face. The requirement of RPO solution sometimes lack the communication expertise needed for a correct recruitment. The most important aspect during the investigation process is to avoid some of the familiar stereotypes that are extensively used. Such factors are anticipated to hamper the growth of the global and Southeast Asia recruitment process outsourcing market.
The global and Southeast Asia recruitment process outsourcing market has been segmented on the basis of type of outsourcing into on-demand RPO, function-based RPO and full RPO. The full RPO segment registered the largest market share of 67.32% in the year 2019 and is expected to achieve a CAGR of 20.84% during the forecast period. On the other hand, the segment is also anticipated to grow by 4.54x and gain an absolute $ opportunity of USD 16890.9 million during the forecast period. Further, the segment is anticipated to cross a value of USD 21651.8 million by the end of 2028.
Ans: Increasing number of graduates and post-graduates across the globe is one of the major factors that is driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of 20.80% over the forecast period, i.e. 2020-2028.
Ans: The market in Europe is anticipated to provide more business opportunities in the future.
Ans: The major players 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 Recr
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is majorly segmented by type of outsourcing, service, engagement, industry vertical and by region.
Ans: The full RPO segment, which is a sub-segment of the type of outsourcing segment, held the largest market share of 67.32% in the year 2019, is anticipated to show significant growth opportunity.
Ans: Concerns regarding the period of time that the recruitment process takes to hire the right applicant is one of the major factors anticipated to act as a barrier towards the growth of the market.
Submit Your Request For Proposal (RFP)
