About International PEO Service
International PEO services benefit companies to expand their operations across the globe. These services help companies to gain a legal presence in international locations without the need to create their own legal entity and take on the associated risks. It helps by assisting with an enterprise’s global hiring, HR, benefits, payroll, taxes, and many other needs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
This industry is fragmented by market leading players, and those are strongly focusing on production technologies, enhancement inefficiency, and service value. With the increase in market opportunities that is captured by tracking the ongoing process improvement and financial flexibility to invest in business growth strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global International PEO Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Velocity Global (United States), Globalization Partners (United States), Acumen International (United Kingdom), Elements PEO (Spain), Eurodev (Netherlands), Global PEO Services (United States), Global Upside, LLC (United States), iWorkGlobal (United States), Mauve Group (England) and Omnipresent Group (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Papaya Global (United States), PEO Worldwide (United Kingdom) and Safeguard Global (United States).
Segmentation Overview
AMA Research has segmented the market of Global International PEO Service market by and Region.
On the basis of geography, the market of International PEO Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Computer Software will boost the International PEO Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organizations Size, the sub-segment i.e. Small Sized Businesses will boost the International PEO Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Hiring, Benefits & Payroll will boost the International PEO Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Software will boost the International PEO Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development in Technology and Increasing Number of New Market Entrants
Market Growth Drivers:
Increasing Number of Small and Medium Size Businesses in Emerging Economies Majorly in India and The Rise in Consumer Awareness
Challenges:
High Cost Associated with International PEO Service
Restraints:
Lack of Consumer Awareness
Opportunities:
Development in Small Medium Size Organizations
Market Leaders and their expansionary development strategies
On 17 Feb 2021, Globalization Partners, which enables companies to hire anyone, anywhere, quickly and easily announced a new offering with ADP TotalSource, a leading Professional Employer Organization (PEO), certified1 by the IRS and accredited by Employer Services Assurance Corporation. This offering gives small and midsized businesses, regardless of their home country, the benefit of a PEO and a unique opportunity to quickly, compliantly, and cost-effectively employ people in multiple countries without the need to set up an international subsidiary.
In Jan 2020, Justworks announced the new series E investment with total funding of around USD 143 million. The company is creating a cost-effective way to bring huge benefits to America’s small to large size businesses.
The Employer Services Assurance Corporation (ESAC) is a free not-for-profit company that is the authority accreditation and monetary affirmation association for the PEO industry. ESAC is overseen by a top managerial staff that incorporates PEO industry lawyers, CPAs and free chiefs addressing over 100 years of consolidated PEO industry administrative experience. The independent director settle on a ultimate choices in regards to PEO accreditation. Acquiring accreditation exhibits a PEO's monetary strength, moral business direct and adherence to functional norms and administrative prerequisites. The ESAC is establish standards for ethical conduct, professional competency, and financial and operational reliability, provide a credible program of accreditation based on independent verification of standards compliance and provide services to make PEO compliance with state and federal laws and regulations more time and cost efficient and reliable
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, International PEO Services Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.