Market Overview: Saudi Arabia HR Outsourcing Services Market FY24-30
This reports provides an essential and dependable overview of the Saudi Arabia HR Outsourcing Services Market, serving as a guide for stakeholders navigating the industry's future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.
Saudi Arabia HR Outsourcing Services Market Report Coverage Details:
- Base Year: 2022
- Historical Data: 2019-22
- Forecast Period: 2024-2030
- CAGR: 7.2% (2024-2030)
The Saudi Arabia HR Outsourcing Services Market is projected to grow at a CAGR of around 7.2% during the forecast period, i.e., 2024-2030.
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Saudi Arabia HR Outsourcing Services Market Opportunity:
Growing Focus on Cost Efficiency with the Rapid Economic Transformation to Fuel Market Growth – As the country is diversifying its economy by encouraging service sector growth, cost optimization has become a crucial factor in uplifting business growth. Thus, the need for HR outsourcing among organizations is rising to control expenses while accessing professional HR services. This is becoming appealing for startups, SMEs, and businesses looking to streamline their operations.
The Saudi government is planning to boost public-private partnerships aligned with its 2030 Vision to promote collaboration between government entities & the private sector in various projects and initiatives. With the surging focus of the Saudi government, the country is anticipated to witness substantial investments in manufacturing & service-based industries.
The increasing need for efficient government and management services to ensure that businesses adhere to Saudi standards, particularly in terms of Labor Laws, is expected to drive a strong growth in the demand for HR outsourcing in the years ahead.
Saudi Arabia HR Outsourcing Services Market Segmentation Analysis - FY24-30
Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Saudi Arabia HR Outsourcing Services Market (2024-30). We prioritize uncovering the pivotal factors that presently drive and will shape the industry's growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.
The Saudi Arabia HR Outsourcing Services Market segmentation is enlisted below:
By Services
- Payroll (Payroll Management, Loans & Other Benefits Processing, Payroll Master Data Management, Pension Administration, etc.)- Market Size & Forecast 2024-2030F, USD Million
- Benefits Administration (Health Insurance, Retirement Accounts, Vacations & Leaves, Employee Visa Processing Services, Employee Data Administration, etc.)- Market Size & Forecast 2024-2030F, USD Million
- Recruitment Process (Talent Acquisition, Recruiting, etc.)- Market Size & Forecast 2024-2030F, USD Million
- Learning Services (Talent Development & Management, Employee Collaboration & Engagement, etc.)- Market Size & Forecast 2024-2030F, USD Million
- Multi Process Human Resource (HR Tools, Workforce Planning & Analytics, Budgeting, Integrated HR Services, etc.)- Market Size & Forecast 2024-2030F, USD Million
- Others (HR consultancy etc.)- Market Size & Forecast 2024-2030F, USD Million
By End User
- Oil & Gas- Market Size & Forecast 2024-2030F, USD Million
- BFSI- Market Size & Forecast 2024-2030F, USD Million
- Hospitality- Market Size & Forecast 2024-2030F, USD Million
- Healthcare- Market Size & Forecast 2024-2030F, USD Million
- IT & Telecom- Market Size & Forecast 2024-2030F, USD Million
- Public Utilities (Aviation, Infrastructure Facilities, Ports, etc.)- Market Size & Forecast 2024-2030F, USD Million
- Others (Education Institutions, etc.)- Market Size & Forecast 2024-2030F, USD Million
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By Region
- Central
- East
- West
- South
Saudi Arabia HR Outsourcing Services Market Competitive Landscape
Sovereign Group, Nathan & Nathan, Miza Business Solutions, Tharwah, Respeed, IRSAA Business Solutions, The First national Human Resource Company (FNRCO), ETISAL International, Marcom Arabia, Raya Customer Experience, Other.
Saudi Arabia HR Outsourcing Services Industry News:
- 2022: RAYA CX, signed a strategic partnership contract with Zain Saudi Arabia a communications and digital service company. Under this partnership deal, RAYA CX would provide outsourcing services to Zain Saudi Arabia.
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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