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.
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.
This report aims to provide a comprehensive presentation of the global market for Employer of Record, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Employer of Record. This report contains market size and forecasts of Employer of Record in global, including the following market information:
Global Employer of Record Market Revenue, 2018-2023, 2024-2030, ($ millions)
Global top five companies in 2022 (%)
The global Employer of Record market was valued at US$ 4423.6 million in 2022 and is projected to reach US$ 5828.7 million by 2029, at a CAGR of 4.0% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The major players in global employer of record market include Adecco, Randstad, etc. The top 5 players occupy about 15% shares of the global market.North America is main markets, which occupies about 44% of the global market.In terms of product, aggregator model is the largest segment, with a share over 65%. And in terms of application, the largest application is SMEs, followed by large enterprises.
We surveyed the Employer of Record companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Employer of Record Market, by Type, 2018-2023, 2024-2030 ($ millions)
Global Employer of Record Market Segment Percentages, by Type, 2022 (%)
On-Line Service
Off-Line Service
Global Employer of Record Market, by Application, 2018-2023, 2024-2030 ($ millions)
Global Employer of Record Market Segment Percentages, by Application, 2022 (%)
SMEs
Large Enterprises
Global Employer of Record Market, By Region and Country, 2018-2023, 2024-2030 ($ Millions)
Global Employer of Record Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Employer of Record revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Employer of Record revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
FoxHire
Shield GEO Services
Safeguard Global
Velocity Global
ELEMENTS GLOBAL SERVICES
iWorkGlobal
Globalization Partners
New Horizons Global Partners
Universal Hires
InCorp Group
Outline of Major Chapters:
Chapter 1: Introduces the definition of Employer of Record, market overview.
Chapter 2: Global Employer of Record market size in revenue.
Chapter 3: Detailed analysis of Employer of Record company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Employer of Record in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
TABLE OF CONTENTS
1 Introduction to Research & Analysis Reports
1.1 Employer of Record Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Employer of Record Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Employer of Record Overall Market Size
2.1 Global Employer of Record Market Size: 2022 VS 2030
2.2 Global Employer of Record Market Size, Prospects & Forecasts: 2018-2030
2.3 Key Market Trends, Opportunity, Drivers and Restraints
2.3.1 Market Opportunities & Trends
2.3.2 Market Drivers
2.3.3 Market Restraints
3 Company Landscape
3.1 Top Employer of Record Players in Global Market
3.2 Top Global Employer of Record Companies Ranked by Revenue
3.3 Global Employer of Record Revenue by Companies
3.4 Top 3 and Top 5 Employer of Record Companies in Global Market, by Revenue in 2022
3.5 Global Companies Employer of Record Product Type
3.6 Tier 1, Tier 2 and Tier 3 Employer of Record Players in Global Market
3.6.1 List of Global Tier 1 Employer of Record Companies
3.6.2 List of Global Tier 2 and Tier 3 Employer of Record Companies
4 Market Sights by Product
4.1 Overview
4.1.1 By Type - Global Employer of Record Market Size Markets, 2022 & 2030
4.1.2 On-Line Service
4.1.3 Off-Line Service
4.2 By Type - Global Employer of Record Revenue & Forecasts
4.2.1 By Type - Global Employer of Record Revenue, 2018-2023
4.2.2 By Type - Global Employer of Record Revenue, 2024-2030
4.2.3 By Type - Global Employer of Record Revenue Market Share, 2018-2030
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global Employer of Record Market Size, 2022 & 2030
5.1.2 SMEs
5.1.3 Large Enterprises
5.2 By Application - Global Employer of Record Revenue & Forecasts
5.2.1 By Application - Global Employer of Record Revenue, 2018-2023
5.2.2 By Application - Global Employer of Record Revenue, 2024-2030
5.2.3 By Application - Global Employer of Record Revenue Market Share, 2018-2030
6 Sights by Region
6.1 By Region - Global Employer of Record Market Size, 2022 & 2030
6.2 By Region - Global Employer of Record Revenue & Forecasts
6.2.1 By Region - Global Employer of Record Revenue, 2018-2023
6.2.2 By Region - Global Employer of Record Revenue, 2024-2030
6.2.3 By Region - Global Employer of Record Revenue Market Share, 2018-2030
6.3 North America
6.3.1 By Country - North America Employer of Record Revenue, 2018-2030
6.3.2 US Employer of Record Market Size, 2018-2030
6.3.3 Canada Employer of Record Market Size, 2018-2030
6.3.4 Mexico Employer of Record Market Size, 2018-2030
6.4 Europe
6.4.1 By Country - Europe Employer of Record Revenue, 2018-2030
6.4.2 Germany Employer of Record Market Size, 2018-2030
6.4.3 France Employer of Record Market Size, 2018-2030
6.4.4 U.K. Employer of Record Market Size, 2018-2030
6.4.5 Italy Employer of Record Market Size, 2018-2030
6.4.6 Russia Employer of Record Market Size, 2018-2030
6.4.7 Nordic Countries Employer of Record Market Size, 2018-2030
6.4.8 Benelux Employer of Record Market Size, 2018-2030
6.5 Asia
6.5.1 By Region - Asia Employer of Record Revenue, 2018-2030
6.5.2 China Employer of Record Market Size, 2018-2030
6.5.3 Japan Employer of Record Market Size, 2018-2030
6.5.4 South Korea Employer of Record Market Size, 2018-2030
6.5.5 Southeast Asia Employer of Record Market Size, 2018-2030
6.5.6 India Employer of Record Market Size, 2018-2030
6.6 South America
6.6.1 By Country - South America Employer of Record Revenue, 2018-2030
6.6.2 Brazil Employer of Record Market Size, 2018-2030
6.6.3 Argentina Employer of Record Market Size, 2018-2030
6.7 Middle East & Africa
6.7.1 By Country - Middle East & Africa Employer of Record Revenue, 2018-2030
6.7.2 Turkey Employer of Record Market Size, 2018-2030
6.7.3 Israel Employer of Record Market Size, 2018-2030
6.7.4 Saudi Arabia Employer of Record Market Size, 2018-2030
6.7.5 UAE Employer of Record Market Size, 2018-2030
7 Employer of Record Companies Profiles
7.1 FoxHire
7.1.1 FoxHire Company Summary
7.1.2 FoxHire Business Overview
7.1.3 FoxHire Employer of Record Major Product Offerings
7.1.4 FoxHire Employer of Record Revenue in Global Market (2018-2023)
7.1.5 FoxHire Key News & Latest Developments
7.2 Shield GEO Services
7.2.1 Shield GEO Services Company Summary
7.2.2 Shield GEO Services Business Overview
7.2.3 Shield GEO Services Employer of Record Major Product Offerings
7.2.4 Shield GEO Services Employer of Record Revenue in Global Market (2018-2023)
7.2.5 Shield GEO Services Key News & Latest Developments
7.3 Safeguard Global
7.3.1 Safeguard Global Company Summary
7.3.2 Safeguard Global Business Overview
7.3.3 Safeguard Global Employer of Record Major Product Offerings
7.3.4 Safeguard Global Employer of Record Revenue in Global Market (2018-2023)
7.3.5 Safeguard Global Key News & Latest Developments
7.4 Velocity Global
7.4.1 Velocity Global Company Summary
7.4.2 Velocity Global Business Overview
7.4.3 Velocity Global Employer of Record Major Product Offerings
7.4.4 Velocity Global Employer of Record Revenue in Global Market (2018-2023)
7.4.5 Velocity Global Key News & Latest Developments
7.5 ELEMENTS GLOBAL SERVICES
7.5.1 ELEMENTS GLOBAL SERVICES Company Summary
7.5.2 ELEMENTS GLOBAL SERVICES Business Overview
7.5.3 ELEMENTS GLOBAL SERVICES Employer of Record Major Product Offerings
7.5.4 ELEMENTS GLOBAL SERVICES Employer of Record Revenue in Global Market (2018-2023)
7.5.5 ELEMENTS GLOBAL SERVICES Key News & Latest Developments
7.6 iWorkGlobal
7.6.1 iWorkGlobal Company Summary
7.6.2 iWorkGlobal Business Overview
7.6.3 iWorkGlobal Employer of Record Major Product Offerings
7.6.4 iWorkGlobal Employer of Record Revenue in Global Market (2018-2023)
7.6.5 iWorkGlobal Key News & Latest Developments
7.7 Globalization Partners
7.7.1 Globalization Partners Company Summary
7.7.2 Globalization Partners Business Overview
7.7.3 Globalization Partners Employer of Record Major Product Offerings
7.7.4 Globalization Partners Employer of Record Revenue in Global Market (2018-2023)
7.7.5 Globalization Partners Key News & Latest Developments
7.8 New Horizons Global Partners
7.8.1 New Horizons Global Partners Company Summary
7.8.2 New Horizons Global Partners Business Overview
7.8.3 New Horizons Global Partners Employer of Record Major Product Offerings
7.8.4 New Horizons Global Partners Employer of Record Revenue in Global Market (2018-2023)
7.8.5 New Horizons Global Partners Key News & Latest Developments
7.9 Universal Hires
7.9.1 Universal Hires Company Summary
7.9.2 Universal Hires Business Overview
7.9.3 Universal Hires Employer of Record Major Product Offerings
7.9.4 Universal Hires Employer of Record Revenue in Global Market (2018-2023)
7.9.5 Universal Hires Key News & Latest Developments
7.10 InCorp Group
7.10.1 InCorp Group Company Summary
7.10.2 InCorp Group Business Overview
7.10.3 InCorp Group Employer of Record Major Product Offerings
7.10.4 InCorp Group Employer of Record Revenue in Global Market (2018-2023)
7.10.5 InCorp Group Key News & Latest Developments
8 Conclusion
9 Appendix
9.1 Note
9.2 Examples of Clients
9.3 Disclaimer
LIST OF TABLES & FIGURES
List of Tables
Table 1. Employer of Record Market Opportunities & Trends in Global Market
Table 2. Employer of Record Market Drivers in Global Market
Table 3. Employer of Record Market Restraints in Global Market
Table 4. Key Players of Employer of Record in Global Market
Table 5. Top Employer of Record Players in Global Market, Ranking by Revenue (2022)
Table 6. Global Employer of Record Revenue by Companies, (US$, Mn), 2018-2023
Table 7. Global Employer of Record Revenue Share by Companies, 2018-2023
Table 8. Global Companies Employer of Record Product Type
Table 9. List of Global Tier 1 Employer of Record Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 10. List of Global Tier 2 and Tier 3 Employer of Record Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 11. By Type ? Global Employer of Record Revenue, (US$, Mn), 2022 & 2030
Table 12. By Type - Employer of Record Revenue in Global (US$, Mn), 2018-2023
Table 13. By Type - Employer of Record Revenue in Global (US$, Mn), 2024-2030
Table 14. By Application ? Global Employer of Record Revenue, (US$, Mn), 2022 & 2030
Table 15. By Application - Employer of Record Revenue in Global (US$, Mn), 2018-2023
Table 16. By Application - Employer of Record Revenue in Global (US$, Mn), 2024-2030
Table 17. By Region ? Global Employer of Record Revenue, (US$, Mn), 2022 & 2030
Table 18. By Region - Global Employer of Record Revenue (US$, Mn), 2018-2023
Table 19. By Region - Global Employer of Record Revenue (US$, Mn), 2024-2030
Table 20. By Country - North America Employer of Record Revenue, (US$, Mn), 2018-2023
Table 21. By Country - North America Employer of Record Revenue, (US$, Mn), 2024-2030
Table 22. By Country - Europe Employer of Record Revenue, (US$, Mn), 2018-2023
Table 23. By Country - Europe Employer of Record Revenue, (US$, Mn), 2024-2030
Table 24. By Region - Asia Employer of Record Revenue, (US$, Mn), 2018-2023
Table 25. By Region - Asia Employer of Record Revenue, (US$, Mn), 2024-2030
Table 26. By Country - South America Employer of Record Revenue, (US$, Mn), 2018-2023
Table 27. By Country - South America Employer of Record Revenue, (US$, Mn), 2024-2030
Table 28. By Country - Middle East & Africa Employer of Record Revenue, (US$, Mn), 2018-2023
Table 29. By Country - Middle East & Africa Employer of Record Revenue, (US$, Mn), 2024-2030
Table 30. FoxHire Company Summary
Table 31. FoxHire Employer of Record Product Offerings
Table 32. FoxHire Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 33. FoxHire Key News & Latest Developments
Table 34. Shield GEO Services Company Summary
Table 35. Shield GEO Services Employer of Record Product Offerings
Table 36. Shield GEO Services Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 37. Shield GEO Services Key News & Latest Developments
Table 38. Safeguard Global Company Summary
Table 39. Safeguard Global Employer of Record Product Offerings
Table 40. Safeguard Global Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 41. Safeguard Global Key News & Latest Developments
Table 42. Velocity Global Company Summary
Table 43. Velocity Global Employer of Record Product Offerings
Table 44. Velocity Global Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 45. Velocity Global Key News & Latest Developments
Table 46. ELEMENTS GLOBAL SERVICES Company Summary
Table 47. ELEMENTS GLOBAL SERVICES Employer of Record Product Offerings
Table 48. ELEMENTS GLOBAL SERVICES Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 49. ELEMENTS GLOBAL SERVICES Key News & Latest Developments
Table 50. iWorkGlobal Company Summary
Table 51. iWorkGlobal Employer of Record Product Offerings
Table 52. iWorkGlobal Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 53. iWorkGlobal Key News & Latest Developments
Table 54. Globalization Partners Company Summary
Table 55. Globalization Partners Employer of Record Product Offerings
Table 56. Globalization Partners Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 57. Globalization Partners Key News & Latest Developments
Table 58. New Horizons Global Partners Company Summary
Table 59. New Horizons Global Partners Employer of Record Product Offerings
Table 60. New Horizons Global Partners Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 61. New Horizons Global Partners Key News & Latest Developments
Table 62. Universal Hires Company Summary
Table 63. Universal Hires Employer of Record Product Offerings
Table 64. Universal Hires Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 65. Universal Hires Key News & Latest Developments
Table 66. InCorp Group Company Summary
Table 67. InCorp Group Employer of Record Product Offerings
Table 68. InCorp Group Employer of Record Revenue (US$, Mn) & (2018-2023)
Table 69. InCorp Group Key News & Latest Developments
List of Figures
Figure 1. Employer of Record Segment by Type in 2022
Figure 2. Employer of Record Segment by Application in 2022
Figure 3. Global Employer of Record Market Overview: 2022
Figure 4. Key Caveats
Figure 5. Global Employer of Record Market Size: 2022 VS 2030 (US$, Mn)
Figure 6. Global Employer of Record Revenue, 2018-2030 (US$, Mn)
Figure 7. The Top 3 and 5 Players Market Share by Employer of Record Revenue in 2022
Figure 8. By Type - Global Employer of Record Revenue Market Share, 2018-2030
Figure 9. By Application - Global Employer of Record Revenue Market Share, 2018-2030
Figure 10. By Type - Global Employer of Record Revenue, (US$, Mn), 2022 & 2030
Figure 11. By Type - Global Employer of Record Revenue Market Share, 2018-2030
Figure 12. By Application - Global Employer of Record Revenue, (US$, Mn), 2022 & 2030
Figure 13. By Application - Global Employer of Record Revenue Market Share, 2018-2030
Figure 14. By Region - Global Employer of Record Revenue Market Share, 2018-2030
Figure 15. By Country - North America Employer of Record Revenue Market Share, 2018-2030
Figure 16. US Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 17. Canada Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 18. Mexico Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 19. By Country - Europe Employer of Record Revenue Market Share, 2018-2030
Figure 20. Germany Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 21. France Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 22. U.K. Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 23. Italy Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 24. Russia Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 25. Nordic Countries Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 26. Benelux Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 27. By Region - Asia Employer of Record Revenue Market Share, 2018-2030
Figure 28. China Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 29. Japan Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 30. South Korea Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 31. Southeast Asia Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 32. India Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 33. By Country - South America Employer of Record Revenue Market Share, 2018-2030
Figure 34. Brazil Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 35. Argentina Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 36. By Country - Middle East & Africa Employer of Record Revenue Market Share, 2018-2030
Figure 37. Turkey Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 38. Israel Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 39. Saudi Arabia Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 40. UAE Employer of Record Revenue, (US$, Mn), 2018-2030
Figure 41. FoxHire Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 42. Shield GEO Services Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 43. Safeguard Global Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 44. Velocity Global Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 45. ELEMENTS GLOBAL SERVICES Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 46. iWorkGlobal Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 47. Globalization Partners Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 48. New Horizons Global Partners Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 49. Universal Hires Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 50. InCorp Group Employer of Record Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
