Saudi Arabia Manpower Outsourcing market is expected to grow US$ 5.67 billion by 2027 from US$ 2.35 billion in 2018. The sales and marketing manpower outsourcing are expected to attain the highest growth trajectory in the manpower outsourcing market, by growing at the estimated CAGR of 10.9%. However, Technical staff would continue its dominance throughout the forecast period. Several international companies have lately established their business offices in Saudi Arabia, this has further resulted in increased demand for sales & marketing professionals in order to grow their business. These companies are also outsourcing their recruitment process to manpower outsourcing agencies based in Saudi Arabia. Some of the prominent sectors generating demand in manpower outsourcing market include sales & marketing jobs include; manufacturing sector, retail sector, food & beverage, hospitality among others.
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The government in Saudi Arabia has been taking various initiatives with the aim to advance the country’s economy through industrialization. These initiatives are expected to predominantly influence the manpower outsourcing market in the coming year. For instance; the Saudi Government unveiled an infrastructure, education and amenities project in Riyadh worth US$ 22 Bn in 2019. These projects include 16 educational centers and seven medical & healthcare cities. This initiative is anticipated to create job opportunities from various expertise for both local Saudis as well as foreign nationals, which is further foreseen to drive the businesses of the manpower outsourcing companies in Saudi Arabia and internationally.
Saudi Arabia Manpower Outsourcing market by industry vertical is segmented into manufacturing, retail, ITES & telecom, food & beverage, hospitality, and BFSI. The other segment constitutes educational institutes, medical & healthcare, and entertainment industries. Rising industrialization has led the country to witness increased manpower in every sector in the past years. The requirement of manpower in the above mentioned industries is constantly increasing over the years, as the Saudi government has undertaken several initiatives to promote Saudi nationals in both public and private sector jobs.
Market Key Players:
- AJEETS MANAGEMENT & HR CONSULTANCY
- ADAM RECRUITMENT
- LITTELFUSE INC.
- PROVEN SA
- TALENTS HUNTERS
- TASC OUTSOURCING
- ADVANCED ELECTRONICS COMPANY
- HRM OUTSOURCING
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This post was originally published on Commerce Gazette