International PEO (Professional Employer Organization) is a flexible employment solution that enables businesses to employ workers in a foreign country, bypassing the need to first establish a legal entity before operating in that market. International PEO service providers support companies looking to expand their operations globally. They help companies gain a legal presence in foreign locations without having to establish their own legal entity and take on the associated risks. International PEO providers can assist with a company’s global hiring, HR, benefits, payroll, taxes, and compliance needs, among other needs.
Employer of Record (EOR) is an alternative payroll solution often provided by staffing companies. And they become a full legal employer of the payroll employee. The EOR handles timekeeping, payroll, compliance, benefits, unemployment claims, worker's comp, etc.
The research report studies the International PEO and EOR Service market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
Due to the COVID-19 pandemic, the global International PEO and EOR Service market size is estimated to be worth US$ million in 2021 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the review period.
The global main companies of International PEO and EOR Service include Automatic Data Processing (ADP), Acumen International, ELEMENTS GLOBAL SERVICES, EuroDev, Globalization Partners, Global Upside, iWorkGlobal, Mauve Group and New Horizons Global Partners, etc. In 2021, the global six largest players have a share approximately % in terms of revenue.
The North America International PEO and EOR Service market is estimated at US$ million in 2021, while China is forecast to reach US$ million by 2028. The proportion of the China is % in 2021 and it is predicted that the share will reach % in 2028, trailing a CAGR of % through the analysis period. As for the Europe International PEO and EOR Service landscape, Germany is projected to reach US$ million by 2028. and in Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
Professional Employer Organization (PEO) Services accounting for % of the International PEO and EOR Service global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Large Enterprises segment is altered to an % CAGR throughout this forecast period and will hold a share about % in 2028.
An intensive study of key type and application segments has been done in this segmentation section. The authors of the report have provided reliable figures including revenue forecast data by type and application for the period 2017-2028. They have also studied how the segments are gaining or losing growth in various geographies and their respective countries. Thanks to this study, readers can thoroughly grasp the growth pattern and potential of different segments.
Segment by Type
Professional Employer Organization (PEO) Services
Employer of Record (EOR) Services
Segment by Application
This segment of the report offers a thorough regional study of the global International PEO and EOR Service market. Drivers and restraints for each region are broadly examined in the report. Readers will get familiar with the driving forces and challenges that are specific to the regions. The specialists have identified growth opportunities in key geographical regions and their respective countries to aid players to reinforce their presence. All the regions and their countries in the report are assessed based on the growth rate and revenue according to the consumption for the period 2017-2028. This geographical analysis will help readers to gain in-depth knowledge of the regional growth. The key geographical regions surveyed in this research report involve North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. The report has specifically covered major countries including United States, Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
This section has provided an exhaustive analysis of the strategies that the companies are focusing on to stay ahead of other players. The strategies mainly involve research and development, new product developments, and mergers and acquisitions. The researchers have also provided revenue shares of the key companies, company overview, and the latest company developments so as to help players to sustain the cutthroat competition. In this section, the report offers global revenue data of manufacturers for the period 2017-2022. Following is the list of key manufacturers observed in this research study:
Automatic Data Processing (ADP)
ELEMENTS GLOBAL SERVICES
New Horizons Global Partners
Shield GEO Services
Frequently Asked Questions
Which application segment captured the leading share in the International PEO and EOR Service market?
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Which technological trends are likely to affect the International PEO and EOR Service market?
What is the expected International PEO and EOR Service market size by 2028?
Which companies are dominating the International PEO and EOR Service market?
Which region is projected to witness the fastest growth in the future?
What factors are restraining the International PEO and EOR Service market growth?
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