Report overview
An Employer of Record (EOR) is a third-party organization that takes responsibility for all formal employment tasks on behalf of another company. The EOR allows companies to legally and efficiently engage with overseas workers either in a new country or state, without having to set up a local entity or risk violating local employment laws. Hiring an EOR gives the client?s company the opportunity to manage their time more efficiently and effectively. Employer of Record is legally responsible for paying employees, including dealing with employee taxes, benefits, insurance, visa application, and sponsorship applications and a great many other transactions and operations concerning human resources. In businesses expanding market, also come across terms: Professional Employment Organization (PEO) and Global Employment Organization (GEO). A Professional Employment Organization (PEO) also known as an International/Global PEO, allows an enterprise to hire employees in a foreign market without the need of setting up a local entity. Although quite similar to an Employer of Record, a PEO is a service firm that generally offers a more comprehensive range of HR services. A Global Employment Organization (GEO) has properties of an EOR but is more similar to a PEO, in that it allows for the administrative HR burden to be removed from a client and instead be managed by a Global Employment Organization. Some firms take Employer of Record (EOR) business same as PEO and we abide this attribution in corresponding situation.
This report aims to provide a comprehensive presentation of the global market for Employer of Record Services, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Employer of Record Services. This report contains market size and forecasts of Employer of Record Services in global, including the following market information:
Global Employer of Record Services Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Employer of Record Services market was valued at US$ 131.9 million in 2022 and is projected to reach US$ 205 million by 2029, at a CAGR of 6.5% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Important employer of record services players in Global Market include Adecco, Randstad and Aquent, hold a share around 10%. North America is the largest market, occupied for around 40 percent. In term of type, aggregator model is the biggest segment with around 70% market share, in terms of end users, SMEs are the largest downstream market with a share about 70%.
We surveyed the Employer of Record Services companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Employer of Record Services Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Employer of Record Services Market Segment Percentages, by Type, 2022 (%)
Aggregator Model
Wholly Owned Infrastructure Model
Global Employer of Record Services Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Employer of Record Services Market Segment Percentages, by Application, 2022 (%)
SMEs
Large Enterprises
Global Employer of Record Services Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Employer of Record Services Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Employer of Record Services revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Employer of Record Services revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Adecco
Randstad
Aquent
FoxHire
Infotree Global
Safeguard Global
Velocity Global
Globalization Partners
Shield GEO
Acumen International
Remote Team (Gusto)
Deel
Remote Technology
Elements Global Services
Papaya Global
Universal Hires
CIIC
Links International
New Horizons Global Partners
Sky Executive
Outline of Major Chapters:
Chapter 1: Introduces the definition of Employer of Record Services, market overview.
Chapter 2: Global Employer of Record Services market size in revenue.
Chapter 3: Detailed analysis of Employer of Record Services company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Employer of Record Services in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
