Global Employment Services Market Trends And Strategies Of Major Players In The Employment Services Market 2021-2030

30 Jun, 2021

The employment services market consists of sales of employment services and related goods by entities (organizations, sole traders and partnerships) that list employment vacancies and refer or place applicants for employment; provide executive search, recruitment, and placement services; supply workers to client's businesses for limited periods of time to supplement the working force of the client; or provide human resources and human resource management services to client businesses and households.

Global Employment Services Market Size And Drivers:

The global employment services market is expected to grow from $978.72 billion in 2020 to $1193.68 billion in 2021 at a compound annual growth rate (CAGR) of 22%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1677.81 billion in 2025 at a CAGR of 9%. Availability of skilled workforce is the main driver of the market.

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Trends In The Global Employment Services Market

Executive search services companies and recruitment agencies are increasingly relying on artificial intelligence to simplify recruitment process. Recruitment process involves screening of profiles from a large applicant pool which is time consuming. Artificial intelligence can automate this process for effective screening and assessment of candidates. Additionally, artificial intelligence powered chat bots are being used for initial communication with job applicants and scheduling interviews. For instance, the ARYA platform by Leoforce uses artificial intelligence to analyze profiles, resumes and information on the web to screen job applicants. Olivia, a chat bot communicates with candidates through mobile platforms or social channels to schedule interviews.

Global Employment Services Market Segments:
The global employment services market is further segmented based on type, vertical, mode and geography.
By Type: Employment Placement Agencies, Executive Search Services, Temporary Help Services, Professional Employer Organizations
By Vertical: Banking and Financial, Engineering, Medical, Information and Technology, Others
By Mode: Online, Offline
By Geography: The global employment services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global employment services market, accounting for 34% of the market in 2020.

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Employment Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides employment services market overviews, analyzes and forecasts market size and growth for the global employment services market, employment services market share, employment services market players, employment services market segments and geographies, employment services market’s leading competitors’ revenues, profiles and market shares. The employment services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.