The HR Advisory Services market refers to the industry that provides consulting and advisory services to organizations in various aspects of human resources management. These services include strategic HR planning, talent acquisition and management, compensation and benefits, performance management, employee relations, compliance, training and development, HR technology implementation, and organizational development. The major driving factors for the Global HR Advisory Services Market are the rising complexity of HR management and the rising demand for the digital workplace. Moreover, the rising adoption of cloud services and AI and growing advancements and application of analytical tools in the HR industry are creating lucrative growth opportunities for the market over the forecast period.
According to a survey conducted by Statista published in 2020, highlights that the primary focus area within human resources (HR) for large organizations worldwide that are planning to increase their staff is HR data analytics. The survey revealed that 34% of respondents expressed their intention to increase staffing in this role. This indicates a growing recognition of the importance of leveraging data analytics in HR functions to drive strategic decision-making, improve workforce planning, enhance talent management, and optimize overall HR processes. However, cybersecurity threat in HR Advisory Services stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global HR Advisory Services Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The HR Advisory Services market in North America is dominating in 2022. The United States and Canada are key contributors to the market, driven by a large corporate sector, strict labor laws, and a focus on talent management and employee engagement. The presence of multinational corporations and a competitive business landscape creates a strong demand for HR advisory services in areas such as talent acquisition, compensation and benefits, compliance, and employee relations. The HR Advisory Services market in Asia Pacific is experiencing fastest growth due to the region's economic expansion, globalization, and increasing awareness of HR best practices. Countries such as China, India, Japan, and Australia offer substantial market potential. The market is driven by factors such as talent shortage, labor law reforms, and the need for workforce transformation and leadership development. The increasing adoption of HR technology solutions and outsourcing trends also contribute to the growth of HR advisory services in the region.
Major market player included in this report are:
- International Business Machines Corporation
- McKesson Corporation
- Dell Inc.
- Tata Consultancy Services Limited
- Infosys Limited
- Accenture PLC
- Aon plc
- Deloitte Inc
- The Adecco Group AG
- Marsh & McLennan Companies Inc.
Recent Developments in the Market:
- In March 2020, Aon Plc, a London-based, completed the acquisition of Willis Towers Watson (WTW), a UK-based risk management, insurance brokerage, and advisory company, for a total of USD 30 billion. This strategic acquisition aimed to enhance Aon Plc's capabilities and expertise in key areas such as cybersecurity, intellectual property, climate change, and health solutions.
Global HR Advisory Services Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Service, End-Use, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
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 Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. HR Advisory Services Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. HR Advisory Services Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. HR Advisory Services Market, by Service, 2020-2030 (USD Billion)
- 1.2.4. HR Advisory Services Market, by End-Use, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global HR Advisory Services Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global HR Advisory Services Market Dynamics
- 3.1. HR Advisory Services Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising Complexity of HR Management
- 3.1.1.2. Rising demand for digital workplace
- 3.1.2. Market Challenges
- 3.1.2.1. Concern about cybersecurity threat
- 3.1.2.2. High initial cost
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising adoption of cloud services and AI
- 3.1.3.2. Rising technological advancements
Chapter 4. Global HR Advisory Services Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global HR Advisory Services Market, by Type
- 5.1. Market Snapshot
- 5.2. Global HR Advisory Services Market by Type, Performance - Potential Analysis
- 5.3. Global HR Advisory Services Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. HR Advisory Services Market, Sub Segment Analysis
- 5.4.1. Compensation consulting
- 5.4.2. Benefits Consulting
- 5.4.3. Human resources management consulting
- 5.4.4. Actuarial consulting
- 5.4.5. Strategic consulting
- 5.4.6. Other
Chapter 6. Global HR Advisory Services Market, by Service
- 6.1. Market Snapshot
- 6.2. Global HR Advisory Services Market by Service, Performance - Potential Analysis
- 6.3. Global HR Advisory Services Market Estimates & Forecasts by Service 2020-2030 (USD Billion)
- 6.4. HR Advisory Services Market, Sub Segment Analysis
- 6.4.1. Integration & Deployment
- 6.4.2. Support & Maintenance
- 6.4.3. Training & Consulting
Chapter 7. Global HR Advisory Services Market, by End-Use
- 7.1. Market Snapshot
- 7.2. Global HR Advisory Services Market by End-Use, Performance - Potential Analysis
- 7.3. Global HR Advisory Services Market Estimates & Forecasts by End-Use 2020-2030 (USD Billion)
- 7.4. HR Advisory Services Market, Sub Segment Analysis
- 7.4.1. IT Services
- 7.4.2. Manufacturing
- 7.4.3. Financial Services
- 7.4.4. Mining and Oil & Gas
- 7.4.5. Construction
- 7.4.6. Others
Chapter 8. Global HR Advisory Services Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. HR Advisory Services Market, Regional Market Snapshot
- 8.4. North America HR Advisory Services Market
- 8.4.1. U.S. HR Advisory Services Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Service breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End-Use breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada HR Advisory Services Market
- 8.5. Europe HR Advisory Services Market Snapshot
- 8.5.1. U.K. HR Advisory Services Market
- 8.5.2. Germany HR Advisory Services Market
- 8.5.3. France HR Advisory Services Market
- 8.5.4. Spain HR Advisory Services Market
- 8.5.5. Italy HR Advisory Services Market
- 8.5.6. Rest of Europe HR Advisory Services Market
- 8.6. Asia-Pacific HR Advisory Services Market Snapshot
- 8.6.1. China HR Advisory Services Market
- 8.6.2. India HR Advisory Services Market
- 8.6.3. Japan HR Advisory Services Market
- 8.6.4. Australia HR Advisory Services Market
- 8.6.5. South Korea HR Advisory Services Market
- 8.6.6. Rest of Asia Pacific HR Advisory Services Market
- 8.7. Latin America HR Advisory Services Market Snapshot
- 8.7.1. Brazil HR Advisory Services Market
- 8.7.2. Mexico HR Advisory Services Market
- 8.8. Middle East & Africa HR Advisory Services Market
- 8.8.1. Saudi Arabia HR Advisory Services Market
- 8.8.2. South Africa HR Advisory Services Market
- 8.8.3. Rest of Middle East & Africa HR Advisory Services Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. International Business Machines Corporation
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. McKesson Corporation
- 9.3.3. Dell Technologies Inc.
- 9.3.4. Tata Consultancy Services Limited
- 9.3.5. Infosys Limited
- 9.3.6. Accenture PLC
- 9.3.7. Aon plc
- 9.3.8. Deloitte Inc
- 9.3.9. The Adecco Group AG
- 9.3.10. Marsh & McLennan Companies Inc.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption