Global HR Advisory Services Market Overview And Prospects
Learn about the global HR advisory services market through The Business Research Company, which provides information on HR advisory services market size, HR advisory services market drivers and restraints, HR advisory services market players, the COVID-19 impact on the HR advisory services market, and more.
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The global HR advisory market is expected to grow from $81.45 billion in 2021 to $87.32 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The growth in the HR advisory market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The HR advisory market is expected to reach $109.83 billion in 2026 at a CAGR of 5.9%.
The use of data-driven tools and analytics for employee engagement is expected to drive innovation in HR advisory services manufacturing, thus driving the market during the forecast period.
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The HR advisory market consists of the sales of HR advisory services by entities (organizations, sole traders and partnerships) that provide advice on human capital matters and/or offerings revolving around the HR function. HR advisory services are generally used by two types of clients – those aiming to improve their HR function by redesigning HR processes and those undergoing transformations such as mergers and acquisitions to ensure the new human capital is trained. Only goods and services traded between entities or sold to end consumers are included.
Global HR Advisory Services Market Segments Include:
By Type: Compensation Consulting, Benefits Consulting, Human Resources Management Consulting, Actuarial Consulting, Strategic Consulting, Other
By Service: Integration & Deployment, Support & Maintenance, Training & Consulting
By End-Use: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Organizations across the globe are focusing on creating a digital workplace using cloud services and AI, which is gaining significant popularity in the HR advisory market. The digital workplace is a modern concept using digital transformation to align technology to achieve organizational goals with operational efficiency. Cloud services and AI are important parts of the digital workplace helping in removing geographic barriers for improved collaboration, increased productivity and employee engagement, improved decision making, and also in optimizing costs.
TBRC’s HR advisory services market report covers:
Major Market Players: IBM Corporation, Mckesson Corporation, Dell, Tata Consultancy Services, Infosys Limited, Accenture PLC, Aon, Deloitte Touche Tohmatsu Limited, The Adecco Group and Marsh & McLennan Companies Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The HR Advisory Services Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides HR advisory services market overviews, analyses and forecasts market size, share, HR advisory services market players, HR advisory services market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s HR advisory services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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