Global Employer of Record Platform Market Report, History and Forecast 2017-2028, Breakdown Data by Companies, Key Regions, Types and Application

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.
Market Insights

The research report studies the Employer of Record Platform 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 Employer of Record Platform market size is estimated to be worth US$ 4299.1 million in 2021 and is forecast to a readjusted size of US$ 6604.4 million by 2028 with a CAGR of 6.8% during the forecast period 2022-2028.

The representative regions are North America, Europe and Asia-Pacific, with 94.21% market share in 2022. North America accounting for more than 40% market share currently, China has great development trend.

Segment Scope

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

Aggregator Model

Wholly Owned Infrastructure Model

Segment by Application

SMEs

Large Enterprises

Regional Scope

This segment of the report offers a thorough regional study of the global Employer of Record Platform 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.

Key Players

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:

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

Frequently Asked Questions

Which application segment captured the leading share in the Employer of Record Platform market?

How fragmented is the Employer of Record Platform market?

Which are the key growth drivers in the Employer of Record Platform market?

Which are the top strategies undertaken by the Employer of Record Platform market players?

Which technological trends are likely to affect the Employer of Record Platform market?

What is the expected Employer of Record Platform market size by 2028?

Which companies are dominating the Employer of Record Platform market?

Which region is projected to witness the fastest growth in the future?

What factors are restraining the Employer of Record Platform market growth?

Which are the emerging companies in the Employer of Record Platform market?