Press release
HRO BPO Market Size, share, Growth, Trends And Global Industry Forecast 2023-2032
HRO BPO Market Report
HRO BPO Market Size, Growth Rate, And Forecast:
The global HRO BPO market size is expected to grow from $94.34 billion in 2022 to $98.34 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global HRO BPO market size is expected to reach $112.50 billion in 2027 at a CAGR of 3.4%.
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HRO BPO Market Drivers:
The growing integration of cloud-based services is expected to boost the growth of the HRO BPO market going forward. Cloud services refer to hardware, software, or platforms that are hosted by outside suppliers and made accessible to customers online. A cloud-based HR system is used to handle applicants, look up resumes, generate reports, compute payroll, keep track of performance reviews, and retain employee data. Cloud-based HR aids in the elimination of the mountains of paperwork associated with a company's fundamental HR operations. Hence, the growing integration of cloud-based services will rise the demand for HRO BPO services.
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HRO BPO Market Segments
•By Type: Professional Employer Organizations (PEOs), Administrative Service Organizations (ASOs)
•By Service: PO, BAO, MPHRO, RPO
•By Application: Banking, Financial Services And Insurance (BFSI), Healthcare, IT, Hospitality, Retail, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the HRO BPO market.
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HRO BPO Market Key Players:
Major competitors in the HRO BPO market include Cielo Inc., International Business Machines Corporation, Mercer LLC, CGI Inc. (Conseillers en gestion et informatique), Paychex Inc., Intuit Inc., Infosys Limited, Ceridian HCM Inc., HR Service Inc., General Outsourcing Co. Ltd., Aon Plc, Adecco Group, Automatic Data Processing, Inc., Capita plc., and Ultimate Kronos Group.
The Business Research Company's "Global HRO BPO Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The HRO BPO Market Include:
1. Executive Summary
2. HRO BPO Market Characteristics
3. HRO BPO Market Trends And Strategies
4. HRO BPO Market - Macro Economic Scenario
5. HRO BPO Market Size And Growth
....
26. Africa HRO BPO Market
27. HRO BPO Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The HRO BPO Market
29. HRO BPO Market Future Outlook and Potential Analysis
30. Appendix
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