Organizations may collaborate with an external firm to handle all their payroll functions to save valuable time and money – this is known as payroll outsourcing.
Overall, the Payroll Outsourcing products performance is positive with the current environment status. There are many different types of Payroll Outsourcing. The market can be segmented into: Full-Managed Outsourcing and Co-Managed Outsourcing. Full-Managed Outsourcing is the most commonly used and efficient types and took 61.58% market share in 2018. By application, Small Business is the largest consumer group, with consumption market share of 40.92% in 2018.
In 2018, the global Payroll Outsourcing market size was 8297 million US$ and it is expected to reach 12380 million US$ by the end of 2025, with a CAGR of 6.0% during 2019-2025.
This report focuses on the global Payroll Outsourcing status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Payroll Outsourcing development in North America, Europe, South Korea, Australia, Southeast Asia, India and Central & South America.
The key players covered in this study
ADP
Sage
Xerox
Paychex
Gusto
Intuit
Zalaris
Infosys
KPMG
Vision H.R.
Deloitte
Aurion
Activpayroll
Immedis
Ascender
NGA HR
Neeyamo
BDO
CloudPay
Excelity
i-Admin
TriNet
Market segment by Type, the product can be split into
Full-Managed Outsourcing
Co-Managed Outsourcing
Full-managed outsourcing occupies over 60% market share in 2018.
Co-managed outsourcing takes no more than 40% market share in 2018.
Market segment by Application, split into
Small Business
Midsized Business
Large Business
Small business is the largest segment of payroll outsoucing, with a market share of 40% in 2018.
Midsized business takes over 32% market share in 2018 but it may reduce a bit by 2025.
Large business' market share is only 26% in 2018,and it will be almost 30% by 2025.
Market segment by Regions/Countries, this report covers
North America
Europe
South Korea
Australia
Southeast Asia
India
Central & South America
The study objectives of this report are:
To analyze global Payroll Outsourcing status, future forecast, growth opportunity, key market and key players.
To present the Payroll Outsourcing development in North America, Europe, South Korea, Australia, Southeast Asia, India and Central & South America.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Payroll Outsourcing are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Summary:
Get latest Market Research Reports on Payroll Outsourcing . Industry analysis & Market Report on Payroll Outsourcing is a syndicated market report, published as Global Payroll Outsourcing Market Size, Status and Forecast 2019-2025. It is complete Research Study and Industry Analysis of Payroll Outsourcing market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.