The global recruitment market is expected to record a value of US$542.0 billion in 2024, growing at a CAGR of 2.01%, for the duration of 2020-2024. The factors such as, rising volume of mergers & acquisitions, declining rate of unemployment, growth of industrial production, increasing use of mobile platforms, acceleration in online recruitment process, are expected to drive the growth of the market. However, the market growth would be challenged by declining labor force participation and ageing workforce. A few notable trends may include budding new business environment, rise in the foreign born workers in the U.S., rising staffing index, increasing share of full time employment and accelerating job openings & hires.
The global staffing industry is highly fragmented with many market players operating worldwide. The strong performance by such players has brought considerable growth in the overall staffing market over the years. However, the COVID-19 outbreak is affecting the global economy because of the social distancing measures, taken by the government bodies to control the pandemic situation. The situation might affect the growth of the staffing industry during the initial phase of 2020-2024. But once the economy starts recovering, it would stabilize the growth of the global recruitment market, owing to the demand for skilled workforce from different sectors.
The fastest growing regional market is North America, owing to the presence of major players in the U.S. market. Further, the availability of advanced technology and high investment capacity have helped the region to drive the profitable growth to the market. Europe and APAC also hold significant shares in the global staffing industry, owing to the increase in a number of merger and acquisition transactions between recruitment firms and other companies from different sectors.
Scope of the report:
The report provides a comprehensive analysis of the global recruitment (staffing) market.
The major regional markets (North America, Europe and APAC), along with the country coverage of the U.S., Canada, UK, France, Germany, Japan and Australia have been analyzed.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Adecco Group, Randstad Holding NV, Manpower Group, Recruit Group, Hays PLC and Allegis Group) are also presented in detail.
Key Target Audience:
Recruitment and Staffing Agencies
Talent Acquisition Firms
Potential Audience (candidates and job seekers)
Government Bodies & Regulating Authorities