Global RPO market to reach $26.4Bn by 2031

OREGON, UNITED STATES — The global recruitment process outsourcing (RPO) industry is poised for tremendous growth, expected to quadruple in value from $4.8 billion in 2021 to $26.4 billion by 2031. 

Expanding at a 19.1% compound annual growth rate (CAGR), Allied Market Research’s report said that this growth reflects the flexibility of RPO to scale talent acquisition to meet changing business needs.

RPO adoption is surging among small and medium enterprises seeking to evolve hiring from administrative tasks to strategic workforce planning without the overhead costs of in-house recruiting. By leveraging RPO expertise and technologies, companies can improve efficiency, quality of hire and access previously out-of-reach talent pools.

The Asia-Pacific region is forecasted to lead RPO market growth over the next years, as it houses more than 60% of the world’s population. It is also fueled by rising prosperity in economic powerhouses like India and China, coupled with increasing regional awareness of RPO benefits.

Looking ahead, RPO providers are incorporating intelligent technologies like automation, artificial intelligence (AI), and advanced analytics to enhance productivity, candidate experience, and data-driven hiring decisions for clients. 

The report added that RPO has become an indispensable talent strategy for organizational resilience and agility.