Recruitment Process Outsourcing (RPO) Market – Global Industry Analysis and Forecast (2022-2029)

The global RPO market is majorly governed by the growing adoption of outsourcing services worldwide. Most of the companies are looking for external service providers which can aid them in reducing their overhead prices. Furthermore, outsourcing the recruitment processes to a third-party provider allows organizations to focus on their core competencies so enhancing their business operations. Outsourcing recruitment processes permits business organizations to hire candidates as per their requirements without bearing any cost internally. Additionally, the demand for RPO services has witnessed strong growth owing to their incredible advantages over traditional methods of recruitment. Because of these factors, the recruitment process outsourcing market is expected to witness high growth during 2021-2029. The report contains a detailed list of factors that will drive and restrain the growth of the recruitment process outsourcing (RPO) market.

The report covers the segments in the RPO market such as type, engagement models, and application. Based on engagement models, the on-demand segment accounting for more than xx% of the global market share, in terms of revenue. On-demand RPO denotes the service wherein, the consumer organizations transfer some of the recruitment processes to an RPO provider. This model proposal greater scalability, flexibility, and convenience to the customer organization. Hence, the segment is estimated to hold its dominant position in the market during the forecast period.

North America led the RPO market globally followed by APAC and European regions. Because of the fact, that the industries in the continent are creating considerable job opportunities; numerous recruitment agencies, RPO companies, and managed service providers are establishing their businesses in the economies. This is facilitating the recruitment companies to upsurge their annual revenues. China & India are estimated to grow significantly over the next six years thanks to high growth in industrial sectors including, pharmaceutical, healthcare, and manufacturing.

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