The
market was valued at US$ 45.6 Mn in 2013 and is expected to reach US$
154.7 Mn by 2020, growing at a CAGR of 19.3% from 2014 to 2020. Rest
of Southeast Asia (RoSEA) region was the largest contributor to the
Southeast Asia recruitment process outsourcing (RPO) market in 2013.
However, Indonesia is predicted to be the fastest growing market for
RPO solutions during the forecast period, growing at a CAGR of 19.9%
from 2014 to 2020. The demand for RPO solutions in Indonesia is
majorly driven by the high growth in industrial sectors such as
manufacturing, healthcare and pharmaceuticals and others. Another
significant factor boosting the demand for RPO solutions is the
rapidly rising IT and IT enabled services (ITeS) industries in the
nation.
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Report with Full TOC at Recruitment Process Outsourcing Market
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Recruitment
process outsourcing (RPO) is outsourcing of a part or entire
recruitment process to an RPO provider. The demand for RPO solutions
is chiefly driven by the cost reduction advantage of these solutions.
Outsourcing RPO solutions to an external service provider enables the
organizations to eliminate the burden of recruitment processes and
focus on their core competencies. In addition, the RPO providers have
advanced tools and technologies required for recruitment processes
that ensures quality recruitment results for the client
organizations. RPO providers also assume the responsibility of hired
candidates. Thus, if any hired candidate leaves the organization in a
given period of time, the RPO companies provide free replacement for
the candidate. Another significant factor fueling the growth of RPO
market in Southeast Asia is high economic growth in the region.
Growing industrialization creates large demand for skilled employees
in any nation. With rising industrialization in the region, the
demand for RPO solutions is expected to soar substantially during the
forecast period.
The
market for recruitment process outsourcing (RPO) in Southeast Asia is
segmented on the basis of engagement type, end-use industries and
geographic regions. On the basis of engagement type, the RPO market
in Southeast Asia is segmented into on-demand RPO and end-to-end RPO.
In 2013, the on-demand RPO engagement type accounted for a market
share of around 81% of the total RPO market in Southeast Asia.
On-demand RPO solutions include outsourcing some part of the
recruitment processes and are the more cost effective as compared to
end-to-end RPO solutions. This is the most significant factor fueling
the demand for these solutions in the region. The on-demand RPO
segment is expected to grow at a CAGR of 19.3% from 2014 to 2020 in
Southeast Asia RPO market.
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On
the basis of end-use industries, the Southeast Asia recruitment
process outsourcing (RPO) market is segmented into banks financial
services and insurance (BFSI); IT, IT enabled services (ITeS) and
telecommunication; manufacturing; healthcare and pharmaceuticals;
hospitality and others. Others segment comprises aerospace, marine
and construction industries. In 2013, IT, ITeS and telecommunication
segment accounted for the largest share of around 48.0%, in terms of
revenue, of the Southeast Asia recruitment process outsourcing (RPO)
market. This was majorly due to the high demand for recruitment in
these industries. IT, ITeS and telecommunication segment is expected
to remain the largest segment growing at the highest CAGR of 19.6%
from 2014 to 2020.
In
2013, Rest of Southeast Asia (RoSEA) led the Southeast Asia
recruitment process outsourcing (RPO) market with the market share of
around 78% of the Southeast Asia market. Countries such as Singapore
and Malaysia are among the early adopters of RPO solutions in the
region. In addition, the demand for RPO solutions is driven by rising
industrialization in countries such as Myanmar and Philippines. The
recruitment process outsourcing (RPO) market in RoSEA is predicted to
grow at a CAGR of 19.2% from 2014 to 2020.
The
Southeast Asia recruitment process outsourcing (RPO) market includes
RPO providers such as Kenexa Corporation (an IBM Corporation
Company), Randstad Holding Company, Accolo, Inc., Atterro Human
Capital Group, Kelly Outsourcing and Consulting Group, Cielo, Inc.
(Pinstripe, Inc.), ManpowerGroup Solutions, Pontoon Solutions, Zyoin
Web Pvt. Ltd., Futurestep (a Korn Ferry Company), TalentFusion, Inc.,
Alexander Mann Solutions and Hudson Global, Inc.
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Press Release Of Recruitment Process Outsourcing Market
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The
report studies the Southeast Asia recruitment process outsourcing
(RPO) market, and provides estimates in terms of revenue (US$ Mn)
from 2010 to 2020. Market estimates are provided on the basis of
engagement type, end-use industries and geographic regions. The
market has been segmented as follows:
Recruitment
Process Outsourcing (RPO) Market Segmentation:
Recruitment
Process Outsourcing (RPO) Market, by Engagement Type
- On-demand RPO
- End-to-end RPO
Recruitment
Process Outsourcing (RPO) Market, by End-use Industry
- Banks, Financial Services and Insurance (BFSI)
- IT, ITeS and Telecommunication
- Manufacturing
- Healthcare and Pharmaceuticals
- Hospitality
- Others (Aerospace, Marine and Construction Industry)
Recruitment
Process Outsourcing (RPO) Market, by Geographic Region
- Thailand
- Indonesia
- Vietnam
- Rest of Southeast Asia (RoSEA)
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