Emerging Companies Will Drive Demand For HR Consulting Services, Says Fact.MR

North America leads the HR consulting market with a 41% market share

/EIN News/ — USA, Rockville MD, Oct. 17, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, says the global human resource consulting market is estimated to be worth US$49.4 billion in 2022 and is expected to grow at a CAGR of 5.2% from 2022 to 2032. Growing demand from small organizations and enterprises shifting to a remote or hybrid working model is expected to drive the market growth over the coming years.

HR consulting is an essential practice that provides crucial aspects of HR management as an outsourced provider. It is a cost-effective solution that stimulates the development of human resources of an organization in an optimal way. It includes guidance on core HR practices such as compensation and benefits, talent management, HR analytics, and more.

You want a detailed understanding of how the market worksg? Sample request here – https://www.factmr.com/connectus/sample?flag=S&rep_id=7737

The market has grown significantly post COVID. In 2021, the global HR consulting market size was around 12% of the total management consulting market. It is a modern way of channeling the manpower of an organization to achieve greater employee efficiency.

Key insights from market research

  • Global HR Consulting Services Market is expected to grow at a stable CAGR of 5.2% and be valued at USD 82 Billion by 2032.
  • The market posted a CAGR of 3.8% for the period 2017-2021.
  • In the services segment, compensation and benefits dominate the market with a 36% share.
  • North America led the global market with a 41% share in 2021.
  • The demand for HR consulting services is expected to grow at CAGRs of 5.1% and 6.2%, respectively, in Europe and East Asia.

“HR consulting will grow in popularity across all verticals over the next few years,” says a Fact.MR analyst.

Why is the United States a Huge Market for HR Consulting Services?

The US human resource consulting market is expected to grow at a CAGR of 5.2% through 2032.

The potential increase in the employment rate in the United States and the increasing adoption of advanced technologies such as human resource analytics are expected to drive the United States human resource consulting services market.

  • According to the United States Bureau of Labor Statistics, the employment rate in the United States was around 59.3% in December 2021, which increased to 60.1% in August 2022.

Need an exclusive report for your Ufuck Requirement, investigate now! https://www.factmr.com/connectus/sample?flag=RC&rep_id=7737

Human Resource Consulting Industry Segmentation Survey

  • By Service :
    • Human capital strategy
    • Compensation and Benefits
    • Organizational change
    • talent management
    • learning and development
    • HR function
    • HR Analytics
  • By end use Industry :
    • Consumer markets
    • Energy and natural resources
    • Government and public services
    • Life Sciences and Healthcare
    • Media & Telecommunications
    • Technology
    • Others (not covered elsewhere)
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • AEM

Market development
The intensity of competition in the human resource consulting market is high with the presence of various established and new players in the market. These market players are employing various organic and non-organic strategies to stay competitive in the market.

  • In March 2020, Willis Towers Watson was acquired by Aon Plc.

Moreover, market players are taking stringent measures to improve their consumer base by focusing on various industry verticals. They focus on improving their services through the integration of advanced technologies such as cloud computing, artificial intelligence, and machine learning.

Choose the fast and secure PayPal payment method to get full access to this reporthttps://www.factmr.com/checkout/7737

More valuable information about the offer

Fact.MR, in its new offering, presents an unbiased analysis of the global HR consulting market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study reveals critical insights on the basis of service (human capital strategy, compensation and benefits, organizational change, talent management, learning and development, HR function, HR analytics) and end-use industry ( BFSI, Consumer Markets, Energy & Natural Resources, Government & Utilities, Life Sciences & Healthcare, Media & Telecommunications, Technology, Others), in major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East and Africa).

Fact.MR’s Business Services Division Domain Knowledge

Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced business services team help clients around the world meet their unique business intelligence needs.

With a repository of over a thousand reports and over a million data points, the team has analyzed the business services domain in over 50 countries for over a decade. The team provides unparalleled end-to-end research and advisory services. Contact us to find out how we can help you

Check out other related studies published by Fact.MR Research:

Legal advice market: The global legal advice market size reached US$669.4 billion in 2022 and is expected to grow to US$1,049 billion by the end of 2032, growing at a CAGR of 4.6%. In 2021, businesses’ average annual spend on legal services was 0.23% of their total revenue.

Advertising Services Market: The global advertising services market is estimated to be worth US$665 billion in 2022 and is expected to further expand at a CAGR of 7.2% to grow into a trillion-dollar market by the end of 2032. advertising services accounted for approximately 30% of the global market. marketing spend of all companies in 2021.

Security Services Market: The global security services market is expected to grow at a CAGR of 4.3% and reach a valuation of US$136.6 billion by the end of 2032, from US$89.7 billion in 2022. security accounted for around 3% of the global market. administration, facilities management and business support services market in 2021, and is expected to increase this share by 200 bps over the next ten years.

office moving services market: The global office relocation services market is worth US$10.6 billion in 2022 and is expected to grow steadily at a CAGR of 3.3% to reach US$14.6 billion by 2032. almost 15% of the global relocation services market by the end of 2021 and is also expected to maintain this share in the near future.

home improvement market: The global home improvement market in 2022 is valued at US$342 billion and is expected to expand at a CAGR of 6.7% over the next eight years. Fact.MR forecasts the market to reach a revenue of $575.5 billion by the end of 2030. DIY home remodeling and remodeling is expected to see high demand owing to the increasing availability of products DIY and the growing adoption of easy add-ons. so.

About Us:
Market research and consulting agency that makes the difference! That’s why 80% of Fortune 1000 companies trust us to make their most critical decisions. Although our experienced consultants use the latest technology to extract hard-to-find information, we believe that our USP is the trust our clients place in our expertise. Covering a wide range – from automotive and Industry 4.0 to healthcare and retail, our coverage is extensive, but we ensure that even the most niche categories are analyzed. Our sales offices in the USA and Dublin, Ireland. Headquarters based in Dubai, United Arab Emirates. Contact us with your goals and we will be a competent research partner.

Contact:
USA Sales Office:
11140 Rockville Pike
Office 400
Rockville, MD 20852
United States
E-mail: [email protected]
Tel: +1 (628) 251-1583

main logo