Employer of Record market size is projected to reach USD 6794.5 million by 2028, from USD 4235.8 million in 2021, at a CAGR of 6.9% - valuates reports

The global Employer of Record market size is projected to reach USD 6794.5 million by 2028, from USD 4235.8 million in 2021, at a CAGR of 6.9% during 2022-2028. The Employer of Record market is anticipated to grow as a result of factors such as the ease with which businesses can expand into international markets, the low cost of human resources, the lack of a local incorporation requirement, immigration compliance, guaranteed local compliance, and the absence of additional payroll tax requirements.

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Employer of Record Market Analysis
The most profitable region is anticipated to be North America. Due to its highly productive workforce and position as a world leader in research and development, the United States is one of the most sought-after corporate locations. However, entering the US might be intimidating because of its convoluted and conflicting legal system. EOR can manage these challenging components, enabling businesses to start conducting business in the US in a matter of days.

Based on type, The segment with the highest predicted profit margin is the Aggregator model. In the aggregator module, one business serves as the umbrella organization, while local service providers are hired to handle the employment needs of each nation. These (often small) service providers are not scale-ready, and there is a good likelihood that they lack the legal, tax, or human resources competence required by a publicly traded multinational firm outsourcing its global legal infrastructure.

Based on end-users, SMEs are expected to be the most lucrative segment.

Employer of Record Market Segments
The report has been segmented into product and application segments. The researchers have documented all the products present today in the Employer of Record market. They have also shed light on the new product innovations and launches by the key players. In the segmental analysis, the analysts have provided revenue forecast figures based on type and application for the period 2017-2028. They have also discussed the growth rate and potential of each segment for the period 2017-2028.

Employer of Record Market By Type
-Aggregator Model
-Wholly Owned Infrastructure Model

Employer of Record Market By End User
-SMEs
-Large Enterprises

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