Pune 23/10/2023 : -Global Payroll Outsourcing Market is worth USD 9.4 billion in 2022 and is estimated to grow at a CAGR of 6% in the forecast period. The forecast revenue hints at a growth of around 14.1 billion USD by 2029
Payroll Outsourcing Industry Overview
Maximize Market Research stands out as a prominent research firm, providing an intricate analysis of the Payroll Outsourcing Industry. Their comprehensive report encompasses crucial business insights, demand dynamics, pricing trends, and a thorough examination of the competitive landscape. The projected trajectory indicates significant market expansion, foreseeing a growth from USD in 2022 to USD by 2029, reflecting a noteworthy CAGR over the forecast period spanning from 2022 to 2029.
The report outlines key industry players categorized by region, presenting insights into their revenue, financial health, portfolio, and technical advancements for a comprehensive competitive analysis of the worldwide Payroll Outsourcing Industry. Employing a bottom-up approach for market estimation, the analysis integrates both qualitative and quantitative data from primary and secondary sources. A SWOT analysis delves into the strengths and weaknesses of the Payroll Outsourcing Industry, while PESTLE analysis is applied to discern the potential influence of micro-economic factors on the market.
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Payroll Outsourcing Industry Regional Insights
The Payroll Outsourcing Industry extends its reach across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a thorough exploration of elements such as market dimensions, growth rates, and regional import-export dynamics. The Regional Analysis segment offers an in-depth assessment of the status of the Payroll Outsourcing Industry within the countries specified in the report.
Payroll Outsourcing Industry Segmentation
Hybrid and Fully outsourced are the major types in Payroll Outsourcing Market. Fully outsourced market. Fully outsourced has a higher market share as it ensures complete accountability for the companies and organisations. There is more transparency and efficiency in outsourcing when the organisation is completely surrendering its work. Thus, it nearly captures 75% of market in payroll outsourcing market.
Small, Medium and Large are major business sizes in Payroll Outsourcing Market. Small businesses are more likely to outsource payroll than larger businesses. This is because small businesses often lack the resources and expertise to manage payroll in-house. Payroll outsourcing can help small businesses to save time and money, and it can also help them to comply with government regulations. Thus, Small businesses have slightly more market share than medium and large.
by Business Size
Small
Medium
Large
by Type
Hybrid
Fully outsourced
by Industry Vertical
BFSI
Consumer Goods
IT
Public Sector
Healthcare
by Deployment
On-Premise
Cloud - Based
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Payroll Outsourcing Industry Key Players
1. ADP (Automatic Data Processing) - United States
2. Paychex - United States
3. Ceridian - United States
4. Paycor - United States
5. Paylocity - United States
6. Paycom - United States
7. Safeguard Global - United States
8. Sage Group - United Kingdom
9. NGA Human Resources - United Kingdom
10. TMF Group – Netherlands
11. CloudPay - United Kingdom
12. SD Worx - Belgium
13. Zalaris - Norway
14. AscotHR - Germany
15. Talentnet Corporation - Vietnam
16. PayAsia - Singapore
17. Neeyamo – India
18. Infosys – India
19. Ramco Systems – India
20. Saffron Global Corp - India
Key questions answered in the Payroll Outsourcing Industry are:
What is Payroll Outsourcing?
What was the Payroll Outsourcing Industry size in 2022?
What are the different segments of the Payroll Outsourcing Industry?
What growth strategies are the players considering to increase their presence in Payroll Outsourcing?
What are the upcoming industry applications and trends for the Payroll Outsourcing Industry?
What segments are covered in the Payroll Outsourcing Industry?
Who are the leading companies and what are their portfolios in Payroll Outsourcing Industry?
What segments are covered in the Payroll Outsourcing Industry?
Who are the key players in the Payroll Outsourcing Industry?
Key Offerings:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
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