What are the Historical Developments and Current Growth Metrics of the Employment Services Market?
The employment services market has seen considerable growth due to a variety of factors.
• The size of the employment services market has seen a fast-paced increase in recent periods. There's an expected rise from $1938.04 billion in 2024 to $2153.56 billion in 2025 with a compound annual growth rate (CAGR) of 11.1%.
The past expansion can be credited to vigorous economic advancements in newborn markets, heightened activity in mergers and acquisitions, and government procedures in developing economies.
What Will Be The Employment Services Market Size In The Future?
The employment services market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a rapid expansion in the employment services market in the upcoming years. The market is predicted to escalate to $3237.5 billion by 2029, with a compound annual growth rate (CAGR) of 10.7%.
Factors contributing to this prospective growth in the forecast period include an increased demand for global automation to stimulate market growth, shifts in social patterns, and surging urbanization. Key trend forecasts for the same period involve the use of human resources (HR) chatbots, the introduction of augmented reality (AR) and virtual reality (VR) into the recruitment process, predictive analytics, game-based assessment for hiring, a surge in mergers and acquisitions, and the utilization of artificial intelligence and social media for recruitment.
Which Factors Are Boosting Growth In The Employment Services Market?
The rising unemployment rates are anticipated to fuel the expansion of the employment services market in the future. This term, unemployment, refers to a situation where someone is actively seeking a job, but is unsuccessful in acquiring one. Unemployed individuals are those in their working years who are not in employment, are ready to work, and are actively trying to secure employment. Employment services help these unemployed individuals by offering extensive recruitment, job seeking, and other related services. For example, the National Bureau of Statistics of China, an agency at the deputy-cabinet-level based in China, reported that urban unemployment reached a six-month peak of 5.7% in November 2022, rising from 5.5% the preceding month. Additionally, the unemployment rate rose from 5.0% to 6.7% in 31 major cities and towns across China in 2022. Therefore, the burgeoning unemployment rates are projected to stimulate the employment services market.
What are the Market Segments in the Employment Services Market?
The employment services market covered in this report is segmented –
1) By Type: Employment Placement Agencies, Executive Search Services, Temporary Help Services, Professional Employer Organizations
2) By Vertical: Banking and Financial, Engineering, Medical, Information and Technology, Professional Services, Other Verticals
3) By Mode: Online, Offline
Subsegments:
1) By Employment Placement Agencies: General Staffing Agencies, Specialized Staffing Agencies, Executive Search Services
2) By Executive Search Services: Retained Search Firms, Contingency Search Firms
3) By Temporary Help Services: General Temporary Staffing, Specialized Temporary Staffing
4) By Professional Employer Organizations (PEOs): Co-Employment Services, Human Resource Outsourcing (HRO), Payroll And Tax Administration Services
Pre-Book The Employment Services Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends are Shaping the Employment Services Market?
Leading businesses in the employment services market are concentrating their efforts on crafting innovative solutions like advanced employment service suites in order to maintain a competitive market advantage. These advanced service suites provide a broad spectrum of capabilities aimed at assisting individuals in multiple avenues of job seeking, career progression, and skills enhancement. For example, Globalization Partners, a company based in the United States that offers services such as international hiring, onboarding, payroll administration, and employment law adherence, introduced Meridian Suite, a new package of employment services, in June 2023. This suite acts as a command centre for the creation and administration of global teams, giving access to an incredibly robust platform, backed by the knowledge and expertise of hundreds of local HR and legal professionals worldwide.
Who Are the Key Players in the Employment Services Market?
Major companies operating in the employment services market include:
• Randstad NV
• The Adecco Group
• Manpower Inc
• Recruit Holdings Co. Ltd.
• Allegis Group. Inc.
• Persol Holdings
• Hays Plc
• Kelly Services Inc.
• Robert Half International Inc.
• Express Employment Professionals
• JAC Recruitment Asia
• Pasona
• ZENSHO AGENCY
• RGF Professional Recruitment
• Nippon Recruitment
• ABC Consultants
• Career Net
• Global InnovSource
• Beijing Foreign Enterprise Human Resource Service Co. Ltd.
• Talent Spot
• China Executive Group
• Monroe Consulting Group
• Morgan Philips Executive Search
• MTA Network
• GI Group
• International Recruitment Company (IRC)
• Approach People Recruitment
• Connect Jobs
• Jobnexus
• Adaptive Business Group
• Emeraldo
• PIXID
• Propel
• Huntress Group
• Silicon Milk Roundabout
• Satigo
• Deerfoot IT Resources
• Nolan Recruitment
• CDI Anderselite
• Venturi-Group – IT
• Alliance Recruitment Agency
• Impellam
• Proman
• GBO Human Resources
• HeadHunter Group
• Antal International
• AIMS International Russia Ltd.
• Profil
• Staff Empire
• TRIZA Recruitment Agency
• RNG & Associates
• MOLGA Consulting
• Accace Global
• Europe Solutions Polska
• Next Technology Professionals
• Talent Place
• Ace Consulting
• Aerotek
• Brilliant
• BNA Staffing & Recruiting
• Betts Recruiting
• Cielo Talent
• Holden Recruiting Talents
• Huxley
• Lideranca Servicos
• HProjekt
• Winner Recursos Humanos
• Khronos RH
• RH Time
• Olhar de Estilo
• ASAP Venezuela
• Arka HR Venezuela
• Advanced Consulting Group Venezuela
• Seguridad Industrial
• Techunting LLC
• Latamways
• Activos Humanos
• Airswift
• Agile Consultants
• AMSCO
• AON Hewitt
• BAC Middle East
• Budge Talent
• Charterhouse
• Recruitment Agencies
• Addar Group
• Cooper Fitch
• Adam Recruitment
• Ejadah Management Consultancy
• Shamco International Recruitment Ltd.
• Work Circle
• ANCOR
• African Bagg Recruitment
• L'AINE Services Limited
• Jobsinghana.com
• The Capital Group's Search & Selection
• QERA
• Kimberly Ryan
What are the Regional Insights into the Employment Services Market?
North America was the largest region in the employment services market in 2024. Asia-Pacific was the second-largest region in the employment services market. The regions covered in the employment services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
