Employment Services Market Set to Reach $3247.03 Billion by 2029

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The Business Research Company’s Employment Services Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Expected Cagr For The Employment Services Market Through 2025?
The market size of employment services has been on a rapid increase in the past few years. It is projected to expand from $1943.26 billion in 2024 to $2147.83 billion in 2025, showing a compound annual growth rate (CAGR) of 10.5%. Factors such as robust economic expansion in burgeoning markets, a rise in mergers and acquisitions, and governmental initiatives in evolving economies have contributed significantly to the historical growth period.

The market size for employment services is predicted to witness a quick expansion in the upcoming years, escalating to $3247.03 billion by 2029 with a CAGR of 10.9%. This growth within the projected period can be credited to the growing call for global automation to stimulate market growth, transformations in societal norms, and increasing urbanization. Dominant tendencies during this time span will involve HR chatbots, the integration of AR and VR in recruitment processes, predictive analytics, the use of game-based evaluation in hiring, a rise in mergers and acquisitions, the implementation of artificial intelligence, and the utilization of social media for recruitment purposes.

Download a free sample of the employment services market report:
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What Are The Key Factors Driving Growth In The Employment Services Market?
The growth of the employment services market is expected to be fuelled by the escalating unemployment rate. The term unemployment refers to a circumstance wherein an individual is on the hunt for a job but fails to secure one. Unemployed individuals consist of those of working age who lack employment, are readily available for work, and have taken definitive measures to find employment. Employment services support jobless individuals in their job hunt by offering inclusive recruitment, job search, and related services. For instance, statistics from the National Bureau of Statistics of China, a China-based deputy-cabinet-level agency, show an increase in the urban unemployment rate to a six-month high of 5.7% in November 2022, up from 5.5% in the previous month. In 31 significant cities and towns, the unemployment ratio escalated from 5.0% to 6.7% in China in 2022. Hence, the rising unemployment rate is anticipated to boost the employment services market.

What Are The Top Players Operating In The Employment Services Market?
Major players in the Employment Services 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

What Are The Major Trends That Will Shape The Employment Services Market In The Future?
Leading businesses in the employment services industry are prioritizing the creation of innovative solutions such as advanced employment services suites to get an upper hand in the market. Such comprehensive service suites comprise an array of offerings tailored to assist individuals in multiple areas of job hunting, career progression, and skills advancement. For example, Globalization Partners, a US company offering international hiring, induction, payroll setup, and employment compliance services, introduced the Meridian Suite, a unique suite of employment services in June 2023. This suite acts as a command hub for creating and supervising global teams, and provides an incredibly powerful platform along with unparalleled knowledge from hundreds of domestic HR and legal specialists worldwide.

Comprehensive Segment-Wise Insights Into The Employment Services Market
The employment servicesmarket 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

View the full employment services market report:
https://www.thebusinessresearchcompany.com/report/employment-services-global-market-report

Global Employment Services Market - Regional Insights
In 2024, North America led in the Employment Services market, with Asia-Pacific following as the second largest region. The market report encompasses the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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