LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the recruitment process outsourcing (RPO) market in APAC provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio market research analysts, the recruitment process outsourcing market in APAC will grow at a CAGR of over 21% during the forecast period. The need to improve the HR value chain and compliance is a major factor driving the market’s growth.
RPO providers in APAC are extending the value chain to deliver a robust value chain structure and significantly increase the return on investment (ROI) of buyers. It has become inevitable for the RPO market in APAC to ascend to the higher end of the value chain owing to the commoditization of outsourcing services. Currently, RPO has transformed itself as an enabler of innovation, simultaneously driving operational improvements. Its strategies are being considered as the next-generation business value propositions.
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In this report, Technavio highlights the evolution of BPaaS as one of the key emerging trends in the recruitment process outsourcing market in APAC:
Evolution of BPaaS
Cloud technology has transformed the mode of outsourcing business processes. RPO solutions are hosted on remote infrastructure, managed by cloud providers, and categorized as business process-as-a-service (BPaaS). Recruitment, payroll, finance and accounting, contact centers, and specialized HR solutions are some of the business processes that are being enabled by cloud-based BPOs. The advent of modern technologies in the APAC market has led to flexibility to the IT architecture, which has created a demand for flexible BPO services. Based on the size of their business, firms can select RPO services and modify the services in the future to remain competitive in the international market.
“The adoption of BPaaS is growing rapidly in organizations, and the demand for cloud-based services will also witness an increase to gain a competitive edge and new platform solutions in the IT ecosystem,” says a senior analyst at Technavio for research on ITO and BPO.
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Recruitment process outsourcing market in APAC – segmentation analysis
This market research report segments the recruitment process outsourcing market in APAC into the following end users (BFSI, manufacturing, energy, and services) and key leading countries (Japan, China, India, Australia, Malaysia, Singapore, South Korea, Indonesia, and Rest of APAC).
The BFSI segment held the largest market share in 2017, accounting for nearly 30% of the market. The market share for this end user is expected to decrease nearly 3% by 2022. However, by 2022, the manufacturing segment is expected to surpass the BFSI segment to become the leading segment, accounting for a market share of 30%.
Japan was the leading country for the recruitment process outsourcing market in APAC in 2017. It is one of the most technologically advanced countries in the world. The flourishing industrial and private sectors, as well as the penetration of key end-user industries, makes it one of the most significant markets.
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