Growing demand for optimization of various business processes related to human resource services are expected to
stimulate the growth of the market over the forecast period. Growing importance towards adoption of organizational-
level align strategic planning and increasing adoption of advanced operational strategies are expected to boost the
growth of human resource outsourcing market over the next seven years.
However, factors such as growing complexity of the applications portfolio and unfavorable government policies are
expected to limit market growth to certain extent. Yet, easy availability of skilled & cheaper talent-pool in overseas
market and aligning human resource services to meet the end-goal are estimated to foster market expansion in the
near future.
Use of social media as a recruitment platform is considered as key contributing factor for the rapid growth of human
resource outsourcing market in the recent years. Number of organizations prefer social media platform to source and
advertise for job vacancies, thus generating crucial leads for the suitable candidate. Payroll outsourcing organization
are tapping onto social networking sites in order to search and screen potential talent pool. Organization are able to
perform necessary checks on professional and personal history of potential candidate to verify credentials and to
obtain an insight into their personality.
The market is broadly categorized into six major segments based on the application type such as banking, financial
services and insurance (BFSI), government sector, telecommunication sector, energy & utilities sector, manufacturing
sector and healthcare sector. The banking, financial services and insurance (BFSI) is considered as one of the fastest
growing segment in the market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to increase in the number of research & development activities in the
region and existence of well-established industrial infrastructure in the region. Asia-Pacific region is predicted to hold
major market share in the human resource outsourcing market with massive growth in forecast period.
Countries such as India, China, Malaysia, Japan, and Singapore are leading the Asia-Pacific market with increasing
outsourcing activities, availability of skilled & cheaper talent pool, and significant investment by leading industry
players considering potential growth opportunities in the region.
The key players in the human resource outsourcing market are Accenture PLC, IBM Co., APC by Schneider Electric, Inc.,
Cisco Systems, Inc., CA Technologies, Inc., Hewlett-Packard Co., BMC Software Co., Dell, Inc., NetScouts Systems, Inc.,
Fujitsu, Ltd., and Tata Consultancy Services Ltd.
Market Segment:
The key players covered in this study
• Accenture Plc (Ireland)