In new market research by Technavio, the recruitment process outsourcing (RPO) market in Asia Pacific is expected to grow at a CAGR of over 21% between 2018-2022, driven by a need to improve the HR value chain and compliance.
Among the key RPO target sectors, BFSI holds 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%.
Amongst countries, Japan was the leading nation for the RPO market in APAC in 2017.
Additionally, one of the key upcoming trends highlighted in the report is the evolution of BPaaS, i.e. RPO solutions hosted on remote infrastructure, managed by cloud providers (business process-as-a-service). Recruitment, payroll, finance and accounting, contact centres, and specialised HR solutions are some of the business processes being enabled by cloud-based BPOs.
Infographic / Technavio