Employer of Record Services Market 2024 Booming Segments; Investors Seeking Growth at a CAGR of 6.8% | Leading Players: Adecco, Randstad and Aquent

Los Angeles, (United States) - The Global Employer of Record Services Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Employer of Record Services market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of the global Employer of Record Services market. With qualitative and quantitative analysis, we help you with thorough and comprehensive research on the global Employer of Record Services market. We have also focused on SWOT, PESTLE, and Porter's Five Forces analyses of the global Employer of Record Services market.

The global Employer of Record Services market was valued at US$ 132 million in 2023 and is anticipated to reach US$ 208 million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.

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An Employer of Record (EOR) is a third-party organization that takes responsibility for all formal employment tasks on behalf of another company. The EOR allows companies to legally and efficiently engage with overseas workers either in a new country or state, without having to set up a local entity or risk violating local employment laws. Hiring an EOR gives the client's company the opportunity to manage their time more efficiently and effectively. Employer of Record is legally responsible for paying employees, including dealing with employee taxes, benefits, insurance, visa application, and sponsorship applications and a great many other transactions and operations concerning human resources. In businesses expanding market, also come across terms: Professional Employment Organization (PEO) and Global Employment Organization (GEO).

A Professional Employment Organization (PEO) also known as an International/Global PEO, allows an enterprise to hire employees in a foreign market without the need of setting up a local entity. Although quite similar to an Employer of Record, a PEO is a service firm that generally offers a more comprehensive range of HR services. A Global Employment Organization (GEO) has properties of an EOR but is more similar to a PEO, in that it allows for the administrative HR burden to be removed from a client and instead be managed by a Global Employment Organization. Some firms take Employer of Record (EOR) business same as PEO and we abide this attribution in corresponding situation.

Important employer of record services players in Global Market include Adecco, Randstad and Aquent, hold a share around 10%. North America is the largest market, occupied for around 40 percent. In term of type, aggregator model is the biggest segment with around 70% market share, in terms of end users, SMEs are the largest downstream market with a share about 70%.

Top Market Leader Included:

Adecco
Randstad
Aquent
FoxHire
Infotree Global
Safeguard Global
Velocity Global
Globalization Partners
Shield GEO
Acumen International
Remote Team (Gusto)
Deel
Remote Technology
Elements Global Services
Papaya Global
Universal Hires
CIIC
Links International
New Horizons Global Partners
Sky Executive

Report Covers : -

The Employer of Record Services market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Employer of Record Services market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

This report researches the key producers of Employer of Record Services , also provides the consumption of main regions and countries. of the upcoming market potential for Employer of Record Services , and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.

The report will help the Employer of Record Services companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

Market The Driving Factors:

Growing customer demand for the product, effective marketing strategies in new states, and significant investments in product development are some of the major reasons that are driving the Employer of Record Services industry. One of the biggest problems the Employer of Record Services industry is facing is easy access to rivals. The inexpensive cost of alternatives is another barrier to the Employer of Record Services market. Companies believe they can overcome this obstacle, though, by keeping pricing in check and expanding the market for their goods through the introduction of chemicals, specialized chemicals, polymers, metals, ceramics, composites, and new materials. Furthermore, market participants need to overcome significant obstacles in order to reduce risks, adjust their plans, and carry on with business as usual. As a result, businesses will have the ability to deploy their resources efficiently without sacrificing timely market supply or product quality.

Importance of a Market Synopsis:

Decision Making: A well-prepared Employer of Record Services market synopsis helps businesses, investors, and professionals make informed decisions. It provides a comprehensive understanding of the Employer of Record Services market landscape, enabling stakeholders to identify potential risks and opportunities.

Competitive Analysis: By examining the competitive landscape, a Employer of Record Services market synopsis allows businesses to benchmark themselves against industry leaders and identify areas for improvement or differentiation. It facilitates strategic planning and Employer of Record Services market positioning.

Market Entry: For companies considering entering a new market or launching a new product, a Employer of Record Services market synopsis provides valuable insights into market size, customer needs, and competitive factors. It guides businesses in developing effective market entry strategies.

Investment Decisions: Investors rely on Employer of Record Services market synopses to evaluate the feasibility and potential returns of investment opportunities. The synopsis helps them assess the market's growth prospects, competitive intensity, and long-term viability.

Knowledge Sharing: Employer of Record Services Market synopses serve as valuable resources for industry research, academic studies, and knowledge sharing among professionals. They provide a concise summary of Employer of Record Services market dynamics, making complex information accessible to a broader audience.

In summary, a market synopsis is a concise yet comprehensive summary of a Employer of Record Services market's current state, trends, and future outlook. It helps stakeholders gain a holistic understanding of the Employer of Record Services market, make informed decisions, and capitalize on emerging opportunities.

Detailed of Employer of Record Services Market Segmentation: -

Segmentation By Type :-

Aggregator Model
Wholly Owned Infrastructure Model

Segmentation By Application : -

SMEs
Large Enterprises

Employer of Record Services Market Geography: -

By Region

United States

Canada
Mexico
Brazil
China

APAC

Japan
South Korea
China
ASEAN
India

EMEA

Europe
Middle East
Africa

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Table of Contents with Major Points:

1. Executive Summary

1.1. Market Analysis
1.2. Global & Segmental Market Estimates & Forecasts, 2024-2030 (USD Billion)
1.2.1. Employer of Record Services Market, by Region, 2024-2030 (USD Billion)
1.2.2. Employer of Record Services Market, by Type, 2024-2030 (USD Billion)
1.2.3. Employer of Record Services Market, by Application, 2024-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Employer of Record Services Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Market Dynamics

3.1. Employer of Record Services Market Impact Analysis (2024-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Industry Analysis

4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2024-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Market, by Type

5.1. Market Analysis
5.2. Global Employer of Record Services Market by Type, Performance - Potential Analysis
5.3. Global Employer of Record Services Market Estimates & Forecasts by Type 2024-2030 (USD Billion)
5.4. Employer of Record Services Market, Sub-Segment Analysis

6. Global Market, by Application

6.1. Market Analysis
6.2. Global Employer of Record Services Market by Application, Performance - Potential Analysis
6.3. Global Employer of Record Services Market Estimates & Forecasts by Application 2024-2030 (USD Billion)
6.4. Employer of Record Services Market, Sub-Segment Analysis
6.4.1. Others

7. Regional Analysis

7.1. Employer of Record Services Market, Regional Market Analysis
7.2. North America Employer of Record Services Market
7.3. Europe Employer of Record Services Market Analysis
7.4. Asia-Pacific Employer of Record Services Market Analysis
7.5. Latin America Employer of Record Services Market Analysis
7.6. Rest of The World Employer of Record Services Market

8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Key player 1
8.2.1.1. Key In Durationation
8.2.1.2. Overview
8.2.1.3. Financial (Subject to Data Availability)
8.2.1.4. Product Summary
8.2.1.5. Recent Developments

9. Research Process

9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes

What to expect in our report?

(1) A complete section of the Employer of Record Services market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.

(2) Another broad section of the research study is reserved for regional analysis of the global Employer of Record Services market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.

(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the global Employer of Record Services market.

(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the global Employer of Record Services market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.

(5) Readers are provided with findings and conclusion of the research study provided in the Employer of Record Services Market report.

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