The Global Professional Employer Organizations (PEOs) Market is expected to grow with a CAGR of 11.2% by 2027.
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A Professional Employer Organizations (PEOs) manages all HR-related functions such as payroll processing, hiring employees, and other HR functions of other companies. The employee turnover ratio can be reduced considerably by employing the professional employer organization tool. PEOs allow organizations to focus on key result areas (KRA’s) and key performance areas (KPA’s) of the business, in order to generate profits.
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Market Segmentation:
Following Top Key players are profiled in this Market Study:
Ahead Human Resources, Alcott HR, CoAdvantage, FrankCrum, Human Capital, Oasis Outsourcing, Pinnacle PEO Corporation, Synergy HR, TriNet, XcelHR
By Application: Small Business, Mid Size Business and Large Business
Based on Applications, the commercial segment is anticipated to have the highest share in the market during the forecasted period.
Based on applications, the market has been segmented into commercial, residential, military & defence, industrial, public facility, and others. The commercial segment is anticipated to have the highest market share during the forecast period. The growing use of Professional Employer Organizations (PEOs) systems in applications such as malls, enterprises, datacentres, hospitality centres, warehouses, etc., is expected to fuel the demand for Professional Employer Organizations (PEOs) systems. Rising security risks such as accidental loss, burglary, vandalism, theft, product diversion, vandalism, and inventory loss in business properties, are expected to boost the demand for Professional Employer Organizations (PEOs) systems.
Regional Analysis:
North America (US and Canada), Europe (UK, Germany, France and Rest of Europe), Asia Pacific (China, Japan, India and Rest of Asia Pacific), Latin America (Brazil, Mexico and Rest of Latin America), Middle East & Africa (GCC and Rest of Middle East & Africa)
By Region:
The Asia-Pacific Professional Employer Organizations (PEOs) market is anticipated to capture a significant portion of the global market during the forecast period. The growing adoption of technologically advanced security systems is expected to accelerate the growth of the Professional Employer Organizations (PEOs) market in the region. Further, the strong possibility of terrorist attacks in emerging economies and the growing number of manufacturing bases deploying these security cameras for provincial security are anticipated to drive the growth of the market. Moreover, increased security concerns in countries such as India and China are also expected to boost the demand for Professional Employer Organizations (PEOs) systems.
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