Executive Search Market worth USD 40,847.28 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Executive Search Market by Type (Retainer Firms, Contingency Firms, Others), by Application (Healthcare, Industrial, Food & Beverages, Automotive, Retailing, IT-enabled Services, Others), By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global executive search market size is expected to grow from USD 18,436.14 million in 2022 to USD 40,847.28 million by 2033, at a CAGR of 7.5% from 2023 to 2033.

The executive search market consists of sales of executive search services by entities (organizations, sole traders, and partnerships). The Executive Search (Headhunting) business has a long history of expansion, with more industries evolving and becoming more organized. Geographically, the headhunting business has increased as corporations expanded their influence beyond the developed economies of North America and Europe to the emerging economies of Asia Pacific, the Middle East, and Latin America. The end-use industry's increasing desire for efficient recruiting with shorter timeframes is a prominent driver predicted to fuel market expansion during the projected period. However, one of the primary problems impeding the growth of the executive search industry is a lack of adequate talents and skill shortages within the targeted profiles.

Executive search helps to speed up recruiting processes in a variety of ways. Administrative duties such as keeping track of applicant papers and scheduling interviews can be automated by businesses. Improved candidate analysis and access to a large number of candidates are two more aspects driving digitalization. The aforementioned considerations are encouraging firms throughout the world to digitalize their recruiting processes, ultimately supporting the expansion of the executive search industry.

Global Executive Search Market Segmentation

The overall executive search market has been segmented into type, application, and region.

• By Type (Retainer Firms, Contingency Firms, Others)
• By Application (Healthcare, Industrial, Food & Beverages, Automotive, Retailing, IT-enabled Services, Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Contingency Firms segment is at the highest CAGR during the forecast period

Contingency Firms segment is expected to grow at the highest CAGR during the forthcoming period. Agencies that execute contingent recruitment earn service compensation when a candidate is discovered and hired. Contingency recruiting is a popular alternative among emerging firms since it needs a modest initial expenditure and a limited time commitment on the part of the company.

This contingency firms provides the benefits such as Pay for results only, Zero up-front costs, One-Time Fee, Reduce in-house HR needs, Results-oriented recruiting, No exclusive contracts (aka you can utilise multiple contingency recruiters at one time), Saves time and money going through resumes. Due to these reasons this segment has registries the highest CAGR over the forecasting period.

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The Asia Pacific to account for the highest CAGR during the forecast period

Over the forecast period, the Asia Pacific market is expected to grow rapidly. The number of startups in the country is increasing rapidly, with 10% added each year. India boasts the world's third-largest startup ecosystem, with the number of such enterprises increasing by 10% every year. The number of corporations and funding bodies contributing to this cause has increased significantly.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the executive search market. It also consists of the profiles of leading companies such as Heidrick& Struggles, Korn Ferry, Egon Zehnder, N2Growth, AIMS International, Boyden, KPMG, Randstad N.V., Alumni, Amrop Partnership SC, Morgan Philips UK Limited, Hays plc, Manpower Group, Russell Reynolds Associates, Spencer Stuart and CMRG. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

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