Saudi Arabia Manpower Outsourcing Market Forecast to 2028 - COVID-19 Impact and Analysis by Type (Technical Staff, Sales & Marketing, Office/Admin Support, and Others) and Industries (Manufacturing, Retail, ITES & Telecom, Food & Beverage, Hospitality, BFSI, and Others)

Code: TIPRE00004114 | Pages: 91 | Industry: Technology, Media and Telecommunications | Date: Apr 2019
Covid

The Saudi Arabia manpower outsourcing market size is expected to grow from US$ 2,694.2 million in 2021 to US$ 5,487.3 million by 2028; the Saudi Arabia manpower outsourcing market share is estimated to grow at a CAGR of 10.7% during 2021–2028.

 

Saudi Arabia is progressing at a rapid rate in terms of industrialization and commercialization in the recent years. Despite of economic turmoil in the past caused by the disruptions in oil industry, the country has managed to attract several other industries which have helped the Kingdom to rebuild its economy. Additionally, the establishment of several international companies in the region has facilitated the country to rebound from the turmoil. Various industries functional in the recent times include manufacturing, retail, IT & Telecom, food & beverage, BFSI and hospitality among others. Increasing number of industries demand increased number of employees to operate smoothly and increase the production. In addition, the less willingness among the Saudi youth to work for private organizations at a lower wage has negatively impacted Saudi labour workforce composition. However, this shortage has been overcome by the expatriates or the foreign nationals, and in the present scenario, the expatriates dominate most of the industries in Saudi Arabia. As a result, the Saudi government has implemented Saudization, a part of Saudi Vision 2030, the country’s most ambitious program. The Saudization program aims at offering jobs to skilled Saudi youths and the unemployed in various sectors. This program is anticipated to create many jobs in the forthcoming years. The burgeoning demand from the consumers related to different industry is compelling the companies to invest substantial time and labour to hire professionals of different expertise. However, without the appropriate level of knowledge and expertise on-board, it is harder for any organization to function properly. Attributing to the time and intense amount of deliberation required to hire the suitable candidate, several companies are outsourcing their recruitment procedures, which is catalysing the agencies operating in Saudi Arabia manpower outsourcing market growth.

 

Impact of COVID-19 Pandemic on Saudi Arabia Manpower Outsourcing Market

Saudi Arabia is adopting transformative digital technologies in various verticals in a bid to improve the socio-economic conditions of the country. However, due to the COVID-19 outbreak, the implementation of stringent measures such as lockdowns, business shutdowns, and travel bans aggravated the economic problems of the Saudi Arabia. Hence, the prevailing economic issues with the outbreak of COVID-19 have had impacted the growth of the Saudi Arabia manpower outsourcing market during Q2 of 2020. The sudden onset of the COVID-19 pandemic has affected the demographic and socioeconomic balance in Saudi Arabia, where the labour market is transforming. The government had already introduced numerous steps to support small and medium enterprises. The COVID-19 pandemic has posed distinct challenges for both employers and employees. Many unskilled migrant workers continue to leave for their home countries due to unemployment or skill mismatches. On the other hand, the employers in the country exercised cost cutting activities which led to reduce in manpower. Thus, coupling both the parameters i.e., reduction in employee count and migration of workers to home countries reflected severe implications on the Saudi Arabia manpower outsourcing market players in the country. This had negative impact on the Saudi Arabia manpower outsourcing market during till Q3 of 2020. However, with the upliftment of lockdown measures and reopening of industries, the demand for manpower increased, which reflected positive revenue generation stream among the Saudi Arabia manpower outsourcing market players, which ultimately resulted in marginal positive Saudi Arabia manpower outsourcing market growth in 2020.

 

Saudi Arabia Manpower Outsourcing Market Insights

Expanding Hospitality and IT Industry Fuels Growth of Saudi Arabia Manpower Outsourcing Market

Saudi Arabia is one of the prime economies among the Middle East countries and has a huge labour force which is growing at a decent pace. The country houses a number of industrial sectors ranging from manufacturing, retail, information technology, hospitality, and educational institutions among others. The Kingdom’s hospitality industry is experiencing substantial growth in recent years, and the same is expected to boom in the coming years. This is majorly due to the growing business, religious and leisure tourists and also the diversification of the country’s economy through the Kingdom’s initiative Vision 2030. The Vision 2030 plan and the National Transformation Program have shown that the government is making coordinated efforts to not only diversify from oil dependence but create meaningful changes to the traditional ways of doing business. This has resulted in an increase in investment in the hospitality industry in the country which has given rise to a number of hotels. Riyadh and Jeddah are the country’s major cities to witness up rise in a number of 5-star hotels in recent years. The corporate markets and business tourism remain the most significant sources of demand for hotels in Riyadh. While internationally branded hotels remain the preference of corporate guests, there have been increasing instances of major corporate entities renting units within residential compounds for their employees.

 

Type-Based Saudi Arabia Manpower Outsourcing Market Insights

Saudi Arabia manpower outsourcing market is categorized on the basis of type as technical staff, sales & marketing, office / admin staffs, and others. The others segment includes teachers and training development individuals, and nurses and medical staffs. Technical staffs are the most demanding segment in the Saudi Arabia manpower outsourcing market as the manufacturing sector, hospitality sector, retail sector and hypermarket and supermarkets are constantly increasing in the region. Attributing to the fact that, the private sectors and the Saudi government are extensively emphasizing on advanced technologies, the demand for technical staffs has been utmost important.

 

Industry-Based Saudi Arabia Manpower Outsourcing Market Insights

The Saudi Arabia manpower outsourcing market analysis on the basis of industry is divided as manufacturing, retail, ITES & Telecom, food & beverages, BFSI, hospitality and others. The manufacturing industry has flourished immensely over the years in Saudi Arabia. A wide range of manufacturing industries have set up their production plants as well as offices in the country. Industrialization in Saudi Arabia has experienced steady development and large number of distinguished achievements over the decades. The support from the Saudi government has helped the manufacturing companies to achieve mutual growth in terms of economic and strategic goals.

 

Company Profiles

  • Ajeets Management & Hr Consultancy
  • Adam Recruitment
  • PROVEN SA
  • Talents Hunters
  • TASC Outsourcing
  • Advanced Electronics Company
  • MASSADR
  • Knowledge Group
  • Alliance Recruitment Agency
  • NES Fircroft

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Scope of the Study

3.2         Research Methodology

3.2.1        Data Collection:

3.2.2        Primary Interviews:

3.2.3        Macro-Economic Factor Analysis:

3.2.4        Data Triangulation:

3.2.5        Country-level data:

4.           Saudi Arabia manpower outsourcing Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           Saudi Arabia manpower outsourcing Market – Key Industry Dynamics

5.1         Market Drivers

5.1.1        Saudization is Creating Substantial Market Space for manpower outsourcing Companies in the Country

5.1.2        Expanding Hospitality and IT Industry is Driving the manpower outsourcing Market

5.2         Market Restraints

5.2.1        Stringent Governmental Rules to Restrict Foreign Manpower Flow to the Country

5.3         Market Opportunities

5.3.1        E-commerce Sector and Entertainment Sector to Accentuate manpower outsourcing Industry in Saudi Arabia

5.4         Future Trends

5.4.1        Governmental Initiatives to Furnish the Country’s Industrialization

5.5         Impact Analysis of Drivers and Restraints

6.           Saudi Arabia manpower outsourcing Market Overview

6.1         Market Overview

6.2         Saudi Arabia manpower outsourcing Market Forecast and Analysis

6.3         Market Positioning – Global Key Players

7.           Saudi Arabia manpower outsourcing Market Analysis – By Type

7.1         Overview

7.2         Saudi Arabia manpower outsourcing Market, by Type (2020 and 2028)

7.3         Technical Staff

7.3.1        Overview

7.3.2        Technical Staff: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

7.4         Sales & Marketing

7.4.1        Overview

7.4.2        Sales & Marketing: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

7.5         Office/Admin Support

7.5.1        Overview

7.5.2        Office/Admin Support: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

7.6         Others

7.6.1        Overview

7.6.2        Others: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.           Saudi Arabia manpower outsourcing Market Analysis – By Industry

8.1         Overview

8.2         Saudi Arabia manpower outsourcing Market, by Industry (2020 and 2028)

8.3         Manufacturing

8.3.1        Overview

8.3.2        Manufacturing: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Retail

8.4.1        Overview

8.4.2        Retail: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.5         ITES & Telecom

8.5.1        Overview

8.5.2        ITES & Telecom: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.6         Food & Beverages

8.6.1        Overview

8.6.2        Food & Beverages: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.7         Hospitality

8.7.1        Overview

8.7.2        Hospitality: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.8         BFSI

8.8.1        Overview

8.8.2        BFSI: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

8.9         Others

8.9.1        Overview

8.9.2        Others: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

9.           Impact of COVID-19 Pandemic on manpower outsourcing Market

9.1         Saudi Arabia

10.        Company Profiles

10.1      Adam Recruitment

10.1.1     Key Facts

10.1.2     Business Description

10.1.3     Services

10.1.4     Financial Overview

10.1.5     SWOT Analysis

10.1.6     Key Developments

10.2      AJEETS MANAGEMENT & HR CONSULTANCY

10.2.1     Key Facts

10.2.2     Business Description

10.2.3     Services

10.2.4     Financial Overview

10.2.5     SWOT Analysis

10.2.6     Key Developments

10.3      Talents Hunters

10.3.1     Key Facts

10.3.2     Business Description

10.3.3     Services

10.3.4     Financial Overview

10.3.5     SWOT Analysis

10.3.6     Key Developments

10.4      Proven SA

10.4.1     Key Facts

10.4.2     Business Description

10.4.3     Services

10.4.4     Financial Overview

10.4.5     SWOT Analysis

10.4.6     Key Developments

10.5      NES Fircroft

10.5.1     Key Facts

10.5.2     Business Description

10.5.3     Services

10.5.4     Financial Overview

10.5.5     SWOT Analysis

10.5.6     Key Developments

10.6      Knowledge Group

10.6.1     Key Facts

10.6.2     Business Description

10.6.3     Services

10.6.4     Financial Overview

10.6.5     SWOT Analysis

10.6.6     Key Developments

10.7      Alliance Recruitment Agency

10.7.1     Key Facts

10.7.2     Business Description

10.7.3     Services

10.7.4     Financial Overview

10.7.5     SWOT Analysis

10.7.6     Key Developments

10.8      TASC Outsourcing

10.8.1     Key Facts

10.8.2     Business Description

10.8.3     Services

10.8.4     Financial Overview

10.8.5     SWOT Analysis

10.8.6     Key Developments

10.9      Massadr

10.9.1     Key Facts

10.9.2     Business Description

10.9.3     Services

10.9.4     Financial Overview

10.9.5     SWOT Analysis

10.9.6     Key Developments

10.10   Advanced Electronics Company

10.10.1  Key Facts

10.10.2  Business Description

10.10.3  Services

10.10.4  Financial Overview

10.10.5  SWOT Analysis

10.10.6  Key Developments

11.        Appendix

11.1      About The Insight Partners

11.2      Glossary of Terms

 

 

LIST OF TABLES

Table 1.             Saudi Arabia manpower outsourcing Market Revenue and Forecasts to 2028 (US$ Mn)

Table 2.             Glossary of Term: manpower outsourcing Market

 

 

LIST OF FIGURES

Figure 1.           manpower outsourcing Market Segmentation

Figure 2.           Saudi Arabia manpower outsourcing Market Overview

Figure 3.           Saudi Arabia manpower outsourcing Market, by Type

Figure 4.           Saudi Arabia manpower outsourcing Market, by Industry

Figure 5.           Saudi Arabia: PEST Analysis

Figure 6.           manpower outsourcing Market Ecosystem Analysis

Figure 7.           Expert Opinion

Figure 8.           Saudi Arabia manpower outsourcing Market: Impact Analysis of Drivers and Restraints

Figure 9.           Saudi Arabia manpower outsourcing Market Forecast and Analysis, (US$ Mn)

Figure 10.        Saudi Arabia manpower outsourcing Market Revenue Share, by Type (2020 and 2028)

Figure 11.        Technical Staff: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12.        Sales & Marketing: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Office/Admin Support: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Others: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Saudi Arabia manpower outsourcing Market Revenue Share, by Industry (2020 and 2028)

Figure 16.        Manufacturing: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Retail: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        ITES & Telecom: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Food & Beverages: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Hospitality: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        BFSI: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.        Others: Saudi Arabia manpower outsourcing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Impact of COVID-19 Pandemic in Saudi Arabia Country Markets

  1. Ajeets Management & Hr Consultancy
  2. Adam Recruitment
  3. PROVEN SA
  4. Talents Hunters
  5. TASC Outsourcing
  6. Advanced Electronics Company
  7. MASSADR
  8. Knowledge Group
  9. Alliance Recruitment Agency
  10. NES Fircroft
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