Human Resources Consulting Market Size, Revenue & Forecast by Fact MR

The global human resources consulting market (인적자원 컨설팅 시장) is predicted to reach US$ 49.4 billion in 2022, growing at a CAGR of 5.2% between 2022 and 2032. Surging demand from small businesses and firms transitioning to remote or hybrid work models is projected to drive market expansion in the coming years.

Human resources consulting is an important practice that provides critical components of human resource management as an outside supplier. It is a cost-effective solution that optimises an organization's human resource development. It comprises consultation on essential HR practices like as compensation and benefits, talent management, and HR analytics, among others.

The market has increased significantly post-COVID. In 2021, the global market size of human resources consulting was around 12% of the total management consulting market. This is a modern way to channel the workforce of an organization to obtain higher employee efficiency.

Key Takeaways from Market Study

• The global human resources consulting services market is projected to expand at a steady CAGR of 5.2% and be valued at US$ 82 billion by 2032.
• The market exhibited 3.8% CAGR for the period of 2017-2021.
• Under service segment, compensation & benefits dominate the market with a share of 36%.
• North America led the global market with 41% share in 2021.
• Demand for HR consulting services is expected to increase at CAGRs of 5.1% and 6.2%, respectively, in Europe and East Asia.

List of Key Companies Profiled in The Report

• Accenture
• Aon Hewitt
• Automatic Data Processing, Inc.
• Bain & Company
• Boston Consulting Group
• Capgemini
• Deloitte
• Ernst & Young
• Others

Why is the U.S. a Huge Market for HR Consulting Services?

The United States human resource consulting market is estimated to expand at a CAGR of 5.2% through 2032.

The potential rise in employment rate in the United States and the growing adoption of advanced technologies such as HR analytics are expected to drive the U.S. human resources consulting services market.

• According to the US Bureau of Labor Statistics, the employment rate in the United States was about 59.3% in December 2021, which increased to 60.1% in August 2022.

Market Development
The intensity of competition in the human resources consulting market is high with the presence of various established and new market players in the market. These market players are resorting to various organic & non-organic strategies to stay competitive in the market.

• In March 2020, Willis Towers Watson was acquired by Aon Plc.
  
  

Additionally, market players are taking rigorous action to enhance their consumer base by focusing on various industry verticals. They are are focusing on improving their services with integration of advanced technologies such as cloud computing, artificial intelligence, and machine learning.

Segmentation of Human Resources Consulting Industry Survey

• By Service:
• Human Capital Strategy
• Compensation & Benefits
• Organisational Change
• Talent Management
• Learning & Development
• HR Function
• HR Analytics
• By End-use Industry:
• Consumer Markets
• Energy and Natural Resources
• Government & Public Services
• Life Science & Healthcare
• Media & Telecommunications
• Technology
• Others (not covered elsewhere)
• By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA