LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global immigration services market and the market is poised to experience spend growth of more than USD 40 billion between 2018-2023 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
Read the 118-page research report with TOC and LOE on "The Global Immigration Services Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Governments across the globe are increasing their scrutiny on business travelers which is increasing the demand for employment-based immigration services. To cater to buyer’s inclination towards developing policies for a targeted approach to foreign labor, service providers are leveraging the latest technologies such as immigration management platforms to streamline the entire immigration supply chain. This is boosting demand growth in the immigration services market. However, factors like the extreme dynamism that characterizes the US immigration system and the increasing instances of exploitation of foreign nationals are inhibiting spend momentum in this market.
Countries in APAC are accounting for high degree of immigration of skilled professionals to developed economies to seek better job opportunities. This is propelling demand growth in the immigration services market in the region. On the other hand, North America is experiencing a major influx of foreign nationals owing to the abundance of employment opportunities with a lesser percentage of the population moving out. This is impacting the demand and is reducing the immigration services market size in the region.
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Insights into the market pricing trends
Service providers will experience a stark increase in their employee expenses owing to the pressing requirement to hire and retain employees with requisite skills to handle tasks pertaining to visa-related issues. This expense will fluctuate due to various flexible immigration models adopted by service providers, such as mobility SPOC, global immigration SPOC, and direct management model.
- The growing need for technology and strategy-related innovations are expected to increase service providers’ overall cost. This increase in demand is because of the need to have a streamlined immigration process and effective immigration solutions within shorter TAT.
What are the strategies to adopt to optimize procurement spend in this market?
The immigration services price trends imply a substantial increase in service provider’s OPEX which will result in a gradual decline in their profit margin. To compensate for this, service providers are expected to increase their service charges. In view of this, this procurement intelligence report has listed the top immigration service providers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market.
Assess service providers’ expertise in immigration laws and procedures
Compliance with laws and policies associated with immigration services is of utmost importance for buyers. Some of the important laws include immigration and work permits, tax and social security laws, and employment laws. Hence, collaborating with service providers who are experts in immigration laws and procedures will help buyers reduce additional operating costs.
Ability to provide integrated solutions
Immigration services are closely related to tax and compensation services. Therefore, buyers must select service providers based on their ability to provide integrated solutions by working closely with tax, social security, and compensation specialists for enabling seamless and integrated mobility services. This will help reduce the overall procurement cost incurred by buyers.
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Some of the key topics covered in this report are:
- Immigration services market spend segmentation by region
- Total cost of ownership analysis in the immigration services market
- Regional spend opportunity for immigration service providers
- Immigration service providers cost structures
- Immigration services pricing models analysis
- Immigration services procurement best practices
- Category management objectives
- Cost saving opportunities in the immigration services market
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