With the 151st Kentucky Derby just around the corner, it feels like the perfect time to share a fast-paced surprise from our latest research on the EOR Market Map.
When we kicked off our global market mapping for Employer of Record (EOR) firms, we expected to identify hundreds to determine a top 100 EOR list of the top contenders across the globe. With billions invested in the EOR market since COVID; like race day we expected to find an overcrowded field with all the contenders jostling for position.
But surprise!
After combing through our research tools and applying a consistent lens to qualify and rank the contenders, we found just 65 standout EOR market map providers spanning Africa, Asia, Europe, and North America with $5m+ annual revenues.
Even more interesting? Based on our analysis, the estimated average revenue of these 65 firms is around $100 million, totaling roughly $2 billion USD. Their combined estimated funding is greater than $3 billion USD proving that while the EOR field may be smaller than expected, it's well-capitalized and in a race for position.
This unexpected finding gives us a sharper view of the EOR space leaner but packed with powerful players. Like the Kentucky Derby, it’s not about how many are in the race it’s about who’s running it well.
🏁 And just like that our research has hit the first turn. Stay tuned for more finish-line insights ahead!