Global RPO market forecast to hit USD10.67bn by 2022

The global recruitment process outsourcing (RPO) market is forecast to grow at a compounded annual growth rate of 14.4% from 2015 to hit USD10.67bn by 2022. The latest market research report released by Credence Research showed that the global RPO market was USD3.54bn in 2014 and continues to grow due to the adoption of RPO services in North America and Europe. The most significant factor fueling the market growth is the reduction in overhead costs of the client organizations. Additionally, outsourcing recruitment processes makes hiring much easier, faster and productive as compared to the traditional recruitment processes. Asia Pacific is estimated to emerge as the highest growing market for RPO, in terms of revenue and adoption, in the coming years.