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AI Drives Staffing Services Market Transformation, Projected to Grow by USD 236.6 Billion (2024-2028), Fueled by Rising Labor Market Demand – Technavio Report

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NEW YORK, Sept. 13, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global staffing services market  size is estimated to grow by USD 236.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.53%  during the forecast period.  Increasing demand for jobs in labor market is driving market growth, with a trend towards increase in remote work and hybrid models. However, presence of regulatory compliance for staffing services  poses a challenge. Key market players include Adecco Group AG, Aerotek, Inc., Allegis Group, ASGN Inc, Cornerstone Staffing Solutions, Inc., Eastridge Workforce Solutions, Elwood Staffing Services, Inc., Express Services, Inc., Hays Plc, HUDSON GLOBAL, INC., Insight Global, LLC, Kelly Services Inc., Kforce Inc, PeopleReady, Inc., Randstad NV, Recruit Holdings Co. Ltd., ROBERT HALF INC, Staffing 360 Solutions, Inc., SThree plc, Synergie Group, Volt Information Sciences Inc, and Wipro Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Temporary staffing, Permanent placement, Contract staffing, Outsourced recruitment, and Executive search), End-user (Information technology, Healthcare, Manufacturing, Finance and accounting, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Adecco Group AG, Aerotek, Inc., Allegis Group, ASGN Inc, Cornerstone Staffing Solutions, Inc., Eastridge Workforce Solutions, Elwood Staffing Services, Inc., Express Services, Inc., Hays Plc, HUDSON GLOBAL, INC., Insight Global, LLC, Kelly Services Inc., Kforce Inc, PeopleReady, Inc., Randstad NV, Recruit Holdings Co. Ltd., ROBERT HALF INC, Staffing 360 Solutions, Inc., SThree plc, Synergie Group, Volt Information Sciences Inc, and Wipro Ltd.

Key Market Trends Fueling Growth

The shift towards remote and hybrid work models, driven by the COVID-19 pandemic, has resulted in a significant increase in demand for remote jobs from both candidates and companies. With businesses expanding globally, setting up physical offices in multiple locations is not always cost-effective. Consequently, there is a growing need for staffing agencies that can provide access to a large pool of skilled and qualified candidates in various locations and offer technological expertise for remote hiring. Staffing agencies play a crucial role in providing flexible working solutions such as work-from-home and hybrid models, in line with companies’ new work arrangements. Leading staffing firms like Robert Half and Kelly Services have expanded their offerings to include hybrid workforce solutions, enabling businesses to manage both in-office and remote workforces efficiently on a global scale. These trends are expected to fuel the growth of the global staffing services market over the forecast period. 

Staffing services have seen significant trends in recent times, with an increase in contract staffing and temporary work. Businesses require flexible workforce solutions, leading to the demand for skilled candidates on fixed-term contracts, casual work, and seasonal positions. Online recruitment has become cost-effective and efficient, allowing staffing agencies to build a talent pool for various workforce requirements. Healthcare staffing continues to be a major sector, with project-related and task-based contracts common in this field. The financial impact of staffing services extends to employee productivity and unemployment rates, which are influenced by business activity. Staffing factoring services and online factoring platforms offer alternative financing options for businesses facing client payment delays or high client turnover. FinTech companies have entered the market, providing digital payment solutions and automated processes. Blockchain technology is transforming factoring contracts, ensuring security and transparency. Recourse and non-recourse factoring options are available, offering credit protection. Domestic and cross-border workforce placements, remote work, and regulatory oversight are key considerations in today’s staffing landscape. Talent mobility, job vacancies, and staffing needs continue to shape the industry, making it an essential part of the financial services sector. 

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Market Challenges

Staffing services providers operate in a regulatory environment with various laws and regulations that they must comply with to avoid legal repercussions and fines. In the US, the Fair Labor Standards Act (FLSA) sets minimum wage levels, overtime pay, and child labor protections. In Europe, the General Data Protection Regulation (GDPR) requires proper handling of personal data. Asian countries like Japan and South Korea have rules for job security, wages, and fair treatment of workers. India’s Contract Labor (Regulation and Abolition) Act is essential for maintaining licenses and following labor rules. Staffing firms must also adhere to diversity, equity, and inclusion guidelines, which vary by region and industry. These regulations pose challenges in maintaining uniform compliance standards and may restrict the growth of the global staffing services market.In today’s business landscape, staffing services face various challenges. Task-based contracts bring uncertainty, impacting financials and employee productivity. Unemployment rates and business activity influence staffing needs, leading to increased temporary staffing. Staffing factoring services and online platforms offer alternative financing options, but client payment delays and high turnover pose risks. FinTech companies provide digital payment solutions and automated processes, but regulatory oversight is crucial. Uncertainty from client payment delays, non-recourse factoring, and blockchain technology impact factoring contracts. Recruitment agencies face challenges in candidate sourcing, selection, and hiring procedures for permanent staffing. Remote work and cross-border placements add complexity. Recruitment type, job vacancies, staffing needs, and job descriptions require careful consideration. Employers and job seekers rely on staffing agencies for talent mobility and workforce management. Global recruitment services must adapt to workforce preferences and regulatory changes.

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Segment Overview 

This staffing services market report extensively covers market segmentation by

Type 1.1 Temporary staffing1.2 Permanent placement1.3 Contract staffing1.4 Outsourced recruitment1.5 Executive searchEnd-user 2.1 Information technology2.2 Healthcare2.3 Manufacturing2.4 Finance and accounting2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Temporary staffing-  The staffing services market is a significant sector in the human resources industry. Companies rely on staffing firms to find and hire qualified candidates for temporary, contract, or permanent positions. Staffing services streamline the hiring process, saving businesses time and resources. They offer a wide range of services, including recruitment advertising, candidate screening, and onboarding. By partnering with a staffing firm, businesses can access a larger talent pool and improve their hiring outcomes. Staffing services help ensure a good fit between employers and employees, contributing to increased productivity and job satisfaction.

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Research Analysis

Staffing services have become an essential solution for businesses looking to meet their workforce requirements in a flexible and cost-effective manner. These services encompass contract staffing and temporary staffing, providing skilled candidates for fixed-term contracts, casual work, and seasonal engagements. Online recruitment platforms have revolutionized the industry, offering access to a vast talent pool and streamlined processes. Business activity and unemployment rates influence staffing needs, with industries like healthcare experiencing high demand for staff. Staffing services offer various solutions, including factoring services and online factoring platforms, which provide digital payment solutions and automated processes, facilitated by FinTech companies. Non-recourse factoring and blockchain technology help mitigate client payment delays and high client turnover. The staffing industry continues to evolve, with an increasing focus on talent mobility, cross-border recruitment, and job opportunities in various sectors. Job vacancies and staffing needs are constantly changing, with detailed job descriptions guiding the recruitment process.

Market Research Overview

Staffing services refer to the process of hiring employees for businesses, ranging from contract staffing and temporary staffing to recruitment for permanent positions. Skilled candidates are sourced through various methods, including online recruitment and offline recruitment, to meet workforce requirements. Staffing services cater to various industries, including healthcare, offering staff for fixed-term contracts, casual work, and seasonal work. Cost-effective hiring is a significant benefit of staffing services, allowing businesses to access a talent pool without the financial burden of permanent employment. Factoring services and online factoring platforms offer alternative financing options for staffing agencies, enabling them to manage cash flow and employee payments more effectively. The financial impact of staffing services is significant, with factors such as employee productivity, unemployment rates, business activity, and client payment delays influencing the industry’s growth. Digital payment solutions and automated processes, facilitated by FinTech companies, streamline the hiring process. Regulatory oversight, talent mobility, and workforce preferences are essential considerations for staffing agencies, ensuring compliance and meeting the needs of both employers and job seekers. Recruitment type, hiring procedures, and job vacancies are crucial elements of the recruitment process, from candidate sourcing to employee selection. Staffing services also cater to project-related contracts, task-based contracts, and cross-border workforce placements, offering flexibility and expertise to businesses in various industries. Remote work and domestic placements are increasingly popular options, expanding the scope of staffing services. In conclusion, staffing services play a vital role in connecting businesses with skilled candidates, offering cost-effective hiring solutions, and managing workforce requirements through various recruitment types and workforce management strategies. The industry’s continued growth is influenced by factors such as regulatory oversight, technological advancements, and the evolving needs of the global workforce.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeTemporary StaffingPermanent PlacementContract StaffingOutsourced RecruitmentExecutive SearchEnd-userInformation TechnologyHealthcareManufacturingFinance And AccountingOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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DKSH Healthcare and Euris Unveil CRM & MCE Platform “ConnectPlus” to Revolutionize APAC Healthcare Distribution

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DKSH Healthcare and Euris have launched “ConnectPlus”, a complete Customer Relationship Management (CRM) and Multi-Channel Engagement (MCE) platform set to transform healthcare distribution across APAC. This data-driven, agile solution enhances efficiency by providing a comprehensive view of healthcare professionals and optimizing omnichannel engagement strategies. From January 2025, ConnectPlus will strengthen DKSH Healthcare’s commitment to commercial excellence by boosting engagement with clients, customers, and patients across the healthcare ecosystem in Thailand.

SINGAPORE, Nov. 13, 2024 /PRNewswire/ — DKSH Healthcare Business Unit, in partnership with Euris, is introducing ConnectPlus, a data-driven Customer Relationship Management (CRM) and Multi-Channel Engagement (MCE) platform aimed at transforming healthcare distribution across the Asia Pacific region. Designed to enhance productivity and operational efficiency, this platform provides a 360° view of healthcare professionals, streamlines MCE, and strengthens DKSH Healthcare’s ability to tailor interactions and marketing strategies. The roll-out will start in Thailand in January 2025. With this new platform DKSH Healthcare reinforces its dedication to commercial excellence by enlarging possibilities and improving interactions with clients, customers, and patients.

Bijay Singh, Head of Business Unit Healthcare at DKSH, emphasized the transformative potential of ConnectPlus, “With ConnectPlus, we are not just improving our operations, we are setting a new benchmark for healthcare distribution across Asia Pacific. By integrating technology with our deep market expertise, DKSH Healthcare is enhancing its role as a strategic healthcare partner. This platform will not only empower our teams to engage more effectively with healthcare professionals but will ultimately contribute to better health outcomes by improving patients’ access to quality care. ConnectPlus represents a pivotal step in our journey toward data-driven excellence and reinforces our commitment to leading with agility in an evolving healthcare landscape.”

The introduction of ConnectPlus underscores DKSH Healthcare’s commitment to harnessing digital solutions that orchestrate and maximize impact of both client and patient interactions, while upholding a high standard of operational excellence. ConnectPlus empowers DKSH to tap into the vast potential provided by the global healthcare big data market[1] by delivering precise, targeted engagement strategies that cater to the unique needs of healthcare professionals, clients, and patients across the region.

Furthermore, ConnectPlus is strategically designed to leverage the existing preference of face-to-face sales visits[2], by orchestrating personalized digital touchpoints, based on data driven insights, to prepare and enhance in-person interactions. The platform’s ability to blend in-person and digital strategies is essential for maximizing outreach and driving meaningful engagement[3].

By integrating advanced AI and analytics, ConnectPlus not only streamlines communication and marketing efforts but also personalizes interactions based on real-time data, ensuring relevance and impact. This marks a crucial milestone in DKSH Healthcare’s journey towards fully integrating digital innovation into its operations, reinforcing its leadership in driving agility and efficiency within the rapidly evolving healthcare landscape.

Delphine Poulat, CEO at Euris, remarked, “As the partner of choice for healthcare stakeholders globally, we are thrilled to collaborate with DKSH Healthcare, who have chosen Euris SmartReps Suite, as the CRM & MCE platform for ConnectPlus. In today’s healthcare environment, personalized, data-driven interactions are critical. ConnectPlus is designed to provide DKSH Healthcare with the insights needed to understand their customers better, foster stronger face-to-face interactions, and ultimately drive sales growth. Our flexible, closed-loop marketing approach leverages data to deliver tailored content and deepen customer relationships, all while ensuring agility in meeting local market needs. We are proud to support DKSH Healthcare by offering a complete SaaS CRM & MCE platform putting the healthcare professional knowledge and experience at the center of the strategy.”

[1] Source: Patient engagement technology market to rise by $37.4b through 2028, https://healthcareasiamagazine.com/healthcare/news/patient-engagement-technology-market-rise-374b-through-2028 

[2] Source: Overcoming HCP Engagement Fatigue with Data-Driven Insights, https://www.pharmexec.com/view/overcoming-hcp-engagement-fatigue-with-data-driven-insights 

[3] Source: Did Pharma Overshoot Digital Sales Rep Calls? Study Charts Decline in Effectiveness, https://www.fiercepharma.com/marketing/did-pharma-overshoot-digital-sales-rep-calls-study-charts-decline-effectiveness#:~:text=Last%20month,%2044%%20of

About DKSH  

DKSH’s purpose is to enrich people’s lives. For almost 160 years, DKSH has been delivering growth for companies in Asia and beyond across its Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, DKSH offers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 29,040 specialists, generating net sales of CHF 11.1 billion in 2023. As a strategic healthcare business partner, DKSH Business Unit Healthcare distributes pharmaceuticals, consumer health, and over-the-counter products as well as medical devices. With around 8,140 specialists, the Healthcare Business Unit generated net sales of CHF 5.6 billion in 2023. www.dksh.com/hec

About Euris

Euris is an IT group specialized in healthcare and pharmaceutical industry operating in over 50 countries. Euris delivers a comprehensive IT value chain through 2 business units: Healthcare SaaS CRM edition & Integration and Health Data Hosting. Euris’ Suite of Commercial and Marketing excellence modules, named SmartReps®, is recognized among the best-in-class solutions in the Gartner Market Guide for CRM in Pharmaceuticals and Biotechnology. www.euris.com

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SOURCE DKSH

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Cisco and LTIMindtree Expand Partnership to Deliver Next-Generation Secure Access Globally

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News Summary:

LTIMindtree will leverage Cisco Secure Access as its new security service edge (SSE) solution to protect its 80,000 hybrid workers with secure internet access, advanced zero trust network access and embedded AI.Extending its networking partnership with Cisco, LTIMindtree now offers next-generation SSE to its global clients via Cisco Secure Access.Clients can work jointly with both companies to adopt a broad set of cloud security functions in a single, easy-to-use dashboard with Cisco Secure Access.

MELBOURNE, Australia, Nov. 12, 2024 /PRNewswire/ — CISCO LIVE — Cisco (NASDAQ: CSCO), the leader in enterprise networking and security, announced that LTIMindtree is now leveraging Cisco Secure Access as its security service edge (SSE) solution to enable secure hybrid work experiences for its employees and customers worldwide.

“With Cisco’s zero trust approach and embedded AI, it was an easy decision to replace our long-standing SSE solution with Cisco Secure Access,” said Nachiket Deshpande, Chief Operating Officer & Whole-time Director, LTIMindtree. “We were able to quickly deploy the solution, and it now protects our hybrid workforce while delivering a better user experience and simplified IT management.”

Cisco and LTIMindtree have also extended their partnership to deliver integrated Secure Access Service Edge (SASE) solutions based on Cisco technology to LTIMindtree’s global client base. LTIMindtree’s expertise in tailoring solutions to the specific vertical requirements is the perfect complement to Cisco’s technology, including Cisco Secure Access and SD-WAN, delivering seamless and secure connected experiences for both remote and in-office workers.

“Great workplaces require great security. With AI-powered threats rising, we are combating sophisticated attackers across a more expansive landscape. Our customers need their security to operate in the background, at machine scale to make the experience seamless and secure for hybrid workers,” said Jeetu Patel, Executive Vice President and Chief Product Officer, Cisco. “LTIMindtree’s rapid deployment of Secure Access is a great testament to Cisco’s platform strategy and differentiation. Together with our partners, we are changing what user protection means for a modern workplace.”

With Cisco Secure Access, decisions about how users connect to applications are handled behind the scenes via a unified agent, so users get to what they want more quickly. With low-latency connections and transparent identity-based authentication, users are more secure with less hassle. For IT organizations, Cisco Secure Access provides an easy pathway to zero trust and zero trust network access (ZTNA), while also simplifying operations with a unified console and AI-guidance. Secure Access is part of the Cisco Security Cloud, its unified, AI-driven, cross-domain security platform.

To learn more, visit cisco.com/go/security.

Additional Resources:

Introducing Cisco Secure Access

About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 84,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.

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SOURCE Cisco Systems, Inc.

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PixArt Imaging Unveils the “Magic Sensor”, PAC9001 Smart Pixel Optical Sensing Device: A Revolution in AI-Driven Sensor Technology

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HSINCHU, Nov. 12, 2024 /PRNewswire/ — As the demand for intelligent automation grows alongside AI and IoT, PixArt Imaging proudly introduces its latest innovation, the “magic sensor,” PAC9001 Smart Pixel Optical Sensing Device. Designed to revolutionize object presence detection across industries, the PAC9001 combines exceptional real-time performance and high efficiency in a compact, privacy-focused sensor.

The PAC9001 uses advanced AI-powered pixel processing to analyze visual information directly at the pixel level, a breakthrough that reduces data transmission needs and minimizes power consumption. This “smart” processing capability enables the PAC9001 to support rapid, high-accuracy applications in sectors such as retail, logistics, manufacturing, smart home, and PC peripherals. With its high sensitivity, the PAC9001 functions seamlessly even when concealed, providing essential insights without capturing identifiable images. This ensures enhanced privacy, making it ideal for settings like crowd control and security.

PixArt’s industry-leading expertise in imaging and sensor technology allows the PAC9001 to achieve low latency and energy efficiency while fitting effortlessly into devices, thanks to its compact module form of just W3.79 x L3.63 x H1.67 mm³. Its ability to detect and respond to object motion makes it invaluable in real-world applications, especially for edge devices requiring timely, precise sensing.

PixArt Imaging’s CEO, Sen Huang, commented, “Our vision is to enable smarter, more adaptive devices that transform the way we interact with technology. The PAC9001 represents our commitment to pioneering the next generation of sensor technology, combining the best of AI and pixel-level processing to deliver powerful, actionable insights. We’re thrilled to introduce this product to a world where privacy, efficiency, and real-time responsiveness have never been more important. Like a ‘magical’ presence working behind the scenes, the PAC9001 not only enables front-facing applications but also powers big data, enabling smart systems to collect valuable insights for user behavior predictions.

The PAC9001 also features PixArt’s proprietary Smart Motion Detection (SMD) and Pixel Difference Mode (PDM), enabling it to adapt to environmental changes and deliver high-precision data in varying lighting conditions, from bright daylight to darkness, at distances up to 5 meters. This advanced sensing capability ensures minimal false alarms compared to traditional PIR systems, making the PAC9001 a versatile and scalable solution for a wide range of industries and applications.

Combining advanced sensing, processing, and energy-saving technologies, the PAC9001 stands out as a game-changer for those seeking efficient, integrated solutions for next-generation smart devices.

For more information, visit PixArt Imaging

About PixArt Imaging Inc.

Founded in July 1998 and headquartered in Hsinchu, Taiwan, operates offices in the USA, Denmark, Malaysia, Japan, Korea, and China, providing services in IC design, R&D, manufacturing and sales. Specializing in sensing and navigation IC design, we focus on CMOS imaging, capacitive touch, MEMS sensing technologies to put into ASIC for human-machine interfaces and machine vision. Leveraging on our expertise in sensing and system design technologies, PixArt is strategically broadening our product lineup across diverse application markets. Our focus is on delivering top-tier image quality, optimizing for ultra-low power usage, compact designs, and seamless system-on-a-chip (SoC) integration; allowing us to drive innovation and meet evolving market demands in a versatile, energy-efficient, and highly integrated structure, positioning us to make impactful strides across varied technology sectors.

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SOURCE PixArt Imaging Inc.

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