Payroll Outsourcing Services Market
Payroll Outsourcing Services Market Analysis by Small Size Companies, Mid-size Companies, and Large Enterprises from 2023 to 2033
Analysis of Payroll Outsourcing Services Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Payroll Outsourcing Services Market Outlook (2023 to 2033)
The global payroll outsourcing services market was valued at US$ 17000 Million in 2022. During the 2023-2033 period of assessment, demand is expected to rise at a 6.1% value CAGR, likely to surpass a valuation of US$ 32607.5 Million by the end of the said forecast period.
Report Attributes |
Details |
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Anticipated Base Year Value in 2022 |
US$ 17000 Million |
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Expected Market Value (2023) |
US$ 18037 Million |
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Projected Forecast Value (2033) |
US$ 32607.5 Million |
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Global Growth Rate (2023-2033) |
6.1% |
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Market share of North America (2023-2033) |
37% |
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Anticipated share of Asia Pacific Market(2023-2033) |
31% |
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Prominent Players in The Global Market |
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Payroll Outsourcing Services Market Revenue Analysis from 2018-2022 Vs Market Outlook for 2023-2033
Rising penetration of big data technologies, cloud computing, and other advanced technologies have prompted payroll outsourcing providers to transform services to a whole new level. As per market research and competitive intelligence provider Fact.MR, the market for payroll application services witnessed a 4.3% CAGR from 2018 to 2022. As enterprises strive to attain a competitive edge, payroll outsourcing services are a necessity.
Consistent upgradation of payroll applications to provide a seamless user experience is the need of the hour. By incorporating avant-garde breakthroughs, service providers are not only able to reduce operational costs, but also enhance their returns on investment. Furthermore, changing compliance and governance requirements are also widening the scope of payroll outsourcing services.
In the future, as more businesses rely on digital transformation, they are continuously innovating their approaches, ushering in efficiency, enhancing quality, and improving client experience. Whether it is to migrate, transform or build, deploying the right application strategy can work miracles.
Prominent Payroll Outsourcing Services Industry Growth Drivers
The Increasing Need for Payroll Cost Visibility Driving the Growth of Payroll Outsourcing Services Market
The increasing need for payroll cost visibility, escalating demand to reduce payroll-related costs, and increasing demand to standardize processes, technology, and governance are likely to drive market growth. Payroll outsourcing services are gaining traction across different industry verticals such as Services, Manufacturing, BFSI, Healthcare, and Retail.
Due to the time-saving and cost-effectiveness of payroll outsourcing organizations can focus on their core issue to run the business smoothly. North America and Europe are major adopters of payroll outsourcing services due to the presence of a large number of payroll outsourcing services vendors.
The Increased Adoption of Payroll Services to Drive the Market Growth
Rising penetration of big data technologies, cloud computing, and other advanced technologies have prompted payroll outsourcing to transform services to a whole new level.
The increasing adoption of payroll services in various organizations to reduce expenses is likely to drive the market during the forecast period. Finance and Accounting (F&A), Human Capital Management (HCM), and various service centers used payroll outsourcing services either for a single process or outsourcing the entire service. The growing popularity of employee self-service (ESS) and the payroll outsourcing market with human resources are driving the payroll outsourcing services.
The demand for payroll outsourcing services has increased owing to features like possessing security, functionality, scalability, easy access, and low cost. The growing trend of multi-country payroll outsourcing (MCPO), bundling payroll services, and process automation is further contributing to the market growth.
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Which Market Challenges Are Hampering Payroll Outsourcing Services Market Sales?
The High Risk of Data Security May Limit the Market Growth
Although digital transformation has proven to yield major operational benefits, many enterprises are reluctant to implement it due to a variety of reasons.
The lack of awareness about payroll outsourcing services is one of the principal factors limiting the growth of the market. Also, Small enterprises are reluctant to make investments in new technology owing to the small budget and low funding thereby inhibiting the market through the assessment period.
Data breaches and cyber theft concerns are prompting businesses to not extensively adopt digitalization, as companies are very much concerned about confidential information which is limiting payroll outsourcing prospects to a significant extent.
Also, the payroll outsourcing developer is likely to face challenges in understanding the organizational technical demand and software customization based on enterprise demand. This is likely to impact the demand for payroll outsourcing services during the assessment period.
Comparative View of Payroll Outsourcing Services Markets
Payroll Outsourcing Services Market :
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Attributes |
Payroll Outsourcing Services Market |
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Growth Factor |
Growing awareness regarding hair transplant and the growing prevalence of successful hair transplant surgeries to boost the market growth. |
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Opportunity |
Increased demand for standardized the process, technology, and governance are expected to provide opportunities for the growth of the market |
Cloud-Based Payroll Software Market :
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Attributes |
Cloud-Based Payroll Software Market |
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Growth Factor |
Increasing applications in small and medium enterprises is likely to drive the cloud-based payroll software market. |
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Opportunity |
Integration of AI and Analytics with cloud-based payroll software is expected to emerge as a significant opportunity during the assessment period. |
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Payroll & HR Software Market :
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Attributes |
Payroll & HR Software Market |
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Growth Factor |
The rising need for work efficiency, in the organization is one of the factors improving the growth of the payroll and HR software market. |
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Opportunity |
The rising popularity of software and increasing awareness among organizations regarding the benefits of implementation of HR & payroll software are the factors fuelling the market growth in coming years. |
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Know thy Competitors
Competitive landscape highlights only certain players
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Regional Outlook
What is the Growth Outlook for Payroll Outsourcing Services in North America?
Presence of a Leading Market Player in The Region to Drive the Market Growth
As per the analysis, North America is anticipated to dominate the market during the forecast period, among the U.S. is expected to make the most significant contribution to strengthening the market by exhibiting a CAGR of 5.7% from 2023 to 2033.
The high adoption of digital technology across all major verticals helps the market to grow in North America, particularly in the U.S. and Canada. Also, with the increasing adoption of cloud-based payroll software, vendors in the region are encouraging the transformation of payroll services by leveraging automated sub-processes, business analytics, big data, and the deployment of mobility and cloud delivery models to governments. With the advent of digital technologies, such cloud-based payroll software helps in executing payroll processes quickly, without any interruptions.
For instance, in November 2022, ADP announced enhancements to its award-winning Wisely® by ADP payment platform with advanced capabilities and innovative features like Earned Wage Access (EWA), designed for giving employees more control of their finances, and help employers better attract and retain talent.
What is the demand outlook for Payroll Outsourcing Services in Europe?
Increased application in end-use industries to drive the market growth
The payroll outsourcing services industry in Europe is expected to accumulate a market share of 21% in 2023. All major small and large enterprises in BFSI, Healthcare, Retail, Oil& Energy, Public Sector are moving toward the adoption of payroll outsourcing services in the business.
The key factor driving the payroll outsourcing services market in the Europe region is the presence of leading market players. The enterprises in the region have shown keen interest in implementing the payroll outsourcing solution and are investing in advanced and new technology on the large scale. Such factors will drive the growth of payroll outsourcing services in the coming years.
How do Growth Prospects for Payroll Outsourcing Services Appear in the Asian Market?
Technological Advancement in The Region Drive the Market Growth
The payroll outsourcing services market in the Asia Pacific is expected to account for 31% of the market share in 2023 and is expected to accelerate during the analysis period.
The growth of the market in the region is due to the increasing influence of automated sub-processes, business analytics, big data, and the deployment of cloud delivery models to the government. Most of the organizations in the region are relying on payroll outsourcing as it enables access to data on any device at any time. Organizations are also using these services to eliminate mistakes and increased accuracy and process automation.
In the Asian market, china is expected to expand at an exponential rate. The need for payroll outsourcing services is increasing as the number of global corporations and enterprises grows. In China, the economy is a powerful motivator for outsourcing with cost reduction and cost saving being the primary concerns. Increasing demand from BFSI, Healthcare, and Retail industries is likely to spur the market to considerable development over the forecast period
Category-wise Insights
By End-user Which Is the Most Prominent Segment in the Payroll Outsourcing Market?
Demand for the Services segment is high among other types
Based on the end user, the services segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 23 % during the forecast period. The Services segment is expected to flourish owing to the increased accuracy of payroll outsourcing services when compared to in-house payroll management. Also, payroll outsourcing reduced the cost and risk involved in the business.
On the other hand, the manufacturing segment is projected to witness significant demand in the coming time. The growth can be attributed to the Increased business’s access to the latest technology and expertise to perform payroll functions well.
By Customer Which Segment Accounts for Highest Revenue in Payroll Outsourcing Services Market?
Small Size Companies Generating High Revenue
Based on customers the payroll outsourcing services market is segmented into small-size companies, mid-size companies, and large enterprises. Among all these the small-size company remains the top customer category expected to expand with a market share of 41% throughout the forecast period.
On the other hand, a market share of 37% is projected for the mid-size company segment by Fact.MR until 2033.
Start-Ups for Payroll Outsourcing Services Market
The start-ups in the payroll outsourcing services market are indulging in collaboration and continually making innovations in the procedures of payroll outsourcing services to further make it convenient and cost-effective for the population. Some key start-ups in the payroll outsourcing services market include – ePayslips, Hits Solution, payroll business solution, Topsy solution, and Precise Payroll among others.
- Founded in 2013 – ePayslips - Application for generating electronic payslips offers an application that generates electronic payslips for organizations irrespective of their payroll process- in-house or outsourced. The ePayslips portal is independent of payroll software. The standard output of the payroll software is converted into electronic payslips for employees that can be accessed by the employee from any device. It also provides payroll outsourcing services.
- Hits Solution - Offers a cloud-based HRMS & Payroll management solution. Features include employee database, organization structure, recruitment management (sourcing & AS), training management, performance management, time & attendance management, payroll management, compensation management, benefits management, analytics, and reporting. Also offers payroll outsourcing services for businesses.
- Payroll business solution provides payroll management software and services. The features include payroll processing, income tax, payroll disbursement, leave and attendance management, reimbursement management, arrears calculation, employee management, and report generation. Some of their clients are Detica, PFG, Pulse, and The Opera Group.
- Topsys Solutions offers cloud-based HRMS and payroll management software. Features include attendance management, leave management, recruitment management system, employee database, report, ing, and analytics. Also offers outsourced payroll processing services.
- Founded in 2014 - 247HRM is a cloud-based HRMS for SMBs. Features include employee database, tax compliance, leave management, attendance management, payroll management, performance management, schedule, ing, and recruitment management. Also offers payroll outsourcing services for businesses.
- Founded in 2009 - Precise Payroll is a provider of payroll solutions for small to mid-sized businesses. Precise payroll provides payroll outsourcing and software as well. The payroll-related offerings include time tracking, employee wage calculation, and tax management.
Competitive Landscape
Examples of some of the market participants in the global payroll outsourcing services market identified across the value chain include ADP, Gusto, Infosys Limited, International Business Machines Corporation, Intuit Quickbooks, Keka Inc., KPMG, OnPay, Papaya Global, Paychex, Sage Group plc, Square, SurePayroll, Vision H.R, Workday Inc., Zalaris ASA among others.
To achieve a substantial market share in the worldwide payroll outsourcing services market players are strengthening their position, pursuing expansion methods such as current developments, mergers and acquisitions, collaborations, and partnerships, joint ventures. Some of the development is as follows-
- In August 2022 - Sage, launched Sage People Payroll in the US and UK.
- In November 2021 -- ADP announced that it has acquired Integrated Design, Inc. (IDI).
- In October 2022: – KPMG in India & IBSFINtech announced an alliance relationship to offer their clients a holistic suite of corporate treasury automation solutions.
- In September 2022 - Paychex, Inc., announced the company’s SaaS-based HR software solution, a new conversational artificial intelligence (AI) feature called Paychex Voice Assist.
Key Segments Covered in the Payroll Outsourcing Services Industry Report
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By Customer Type :
- Small Size Company
- Mid-size Company
- Large Enterprises
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By End-use Industry :
- Services
- Manufacturing
- BFSI
- Healthcare
- Retail
- Oil& Energy
- Public Sector
- Others
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By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
Table of Content
1. Executive Summary - Global Market 2. Market Overview 2.1. Market Definition and Introduction 2.2. Market Taxonomy/ Research Scope 3. Market Characteristic – Bird Eye View 3.1. Number of Active Enterprises by Key Countries 3.2. Number of People Employed 3.3. Average Operating Margin 3.4. Consistency in Demand 3.5. Key Barriers to Entry 3.6. Key Customer Archetype 3.7. Threshold of Revenue Volatility 4. Market Background and Foundation Data 4.1. Global Market Outlook Statistics, (US$), 2018-2022 4.2. Emerging Technological Trends in Payroll Outsourcing Services 4.3. Importance and Benefits of Multi-Country Payroll Services 4.4. Notable Mergers & Acquisitions in Market 4.5. Market Dynamics 4.5.1. Key Growth Drivers 4.5.2. Industry Challenges 4.5.3. Notable Current and Future Trends 4.6. Opportunity and White Space Assessment 4.6.1. Total Available Market (US$ Billion) 4.6.2. Serviceable Addressable Market (US$ Billion) 4.6.3. Serviceable Obtainable Market (US$ Billion) 4.7. Forecast and Macro-Economic Factors – Relevance and Impact 4.8. Key Success Factors and Winning Imperatives 5. Global Market Analysis and Forecast 5.1. Historical Market Value (US$ Billion) Analysis, 2018-2022 5.2. Current and Future Market Value (US$ Billion), 2023-2033 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Global Market Analysis and Forecast, By Customer Type 6.1. Introduction / Key Findings 6.2. Historical Market Size (US$ Billion) By Customer Type, 2018-2022 6.3. Current and Future Market Size (US$ Billion) Forecast By Customer Type, 2023-2033 6.3.1. Small Size Company 6.3.2. Mid-Size Company 6.3.3. Large Enterprises 6.4. Market Attractiveness Analysis By Customer Type 7. Global Market Analysis and Forecast, By End-use Industry 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ Billion) By End-use Industry, 2018-2022 7.3. Current and Future Market Size (US$ Billion) Forecast By End-use Industry, 2023-2033 7.3.1. Services 7.3.2. Manufacturing 7.3.3. BFSI 7.3.4. Healthcare 7.3.5. Retail 7.3.6. Oil & Energy 7.3.7. Public Sector 7.3.8. Others 7.4. Market Attractiveness Analysis By End-use Industry 8. Global Market Analysis and Forecast, By Region 8.1. Introduction 8.2. Historical Market Size (US$ Billion) By Region, 2018-2022 8.3. Current Market Size (US$ Billion) Analysis Forecast By Region, 2023-2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. East Asia 8.3.5. South Asia and Oceania 8.3.6. Middle East & Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis and Forecast 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 9.3. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 9.3.1. By Country 9.3.1.1. U.S. 9.3.1.2. Canada 9.3.2. By Customer Type 9.3.3. By End-use Industry 9.4. Market Attractiveness Analysis 9.4.1. By Country 9.4.2. By Customer Type 9.4.3. By End-use Industry 10. Latin America Market Analysis and Forecast 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 10.3. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 10.3.1. By Country 10.3.1.1. Brazil 10.3.1.2. Mexico 10.3.1.3. Argentina 10.3.1.4. Peru 10.3.1.5. Rest of Latin America 10.3.2. By Customer Type 10.3.3. By End-use Industry 10.4. Market Attractiveness Analysis 10.4.1. By Country 10.4.2. By Customer Type 10.4.3. By End-use Industry 11. Europe Market Analysis and Forecast 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 11.3. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 11.3.1. By Country 11.3.1.1. Germany 11.3.1.2. Italy 11.3.1.3. France 11.3.1.4. U.K. 11.3.1.5. Spain 11.3.1.6. BENELUX 11.3.1.7. NORDIC 11.3.1.8. Rest of Europe 11.3.2. By Customer Type 11.3.3. By End-use Industry 11.4. Market Attractiveness Analysis 11.4.1. By Country 11.4.2. By Customer Type 11.4.3. By End-use Industry 12. East Asia Market Analysis and Forecast 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 12.3. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 12.3.1. By Country 12.3.1.1. China 12.3.1.2. Japan 12.3.1.3. South Korea 12.3.2. By Customer Type 12.3.3. By End-use Industry 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Customer Type 12.4.3. By End-use Industry 13. South Asia & Oceania Market Analysis and Forecast 13.1. Introduction / Key Findings 13.2. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 13.3. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 13.3.1. By Country 13.3.1.1. India 13.3.1.2. Thailand 13.3.1.3. Indonesia 13.3.1.4. Malaysia 13.3.1.5. Australia 13.3.1.6. Rest of South Asia & Oceania 13.3.2. By Customer Type 13.3.3. By End-use Industry 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Customer Type 13.4.3. By End-use Industry 14. Middle East & Africa Market Analysis and Forecast 14.1. Introduction / Key Findings 14.2. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 14.3. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 14.3.1. By Country 14.3.1.1. GCC Countries 14.3.1.2. Turkiye 14.3.1.3. North African Region 14.3.1.4. South Africa 14.3.1.5. Rest of Middle East and Africa 14.3.2. By Customer Type 14.3.3. By End-use Industry 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Customer Type 14.4.3. By End-use Industry 15. Country-level Market Analysis and Forecast 15.1. Introduction / Key Findings 15.1.1. Market Value Proportion Analysis, By Key Countries 15.1.2. Global Vs. Country Growth Comparison 15.2. Us Market Analysis 15.2.1. Value Proportion Analysis By Market Taxonomy 15.2.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.2.2.1. By Customer Type 15.2.2.2. By End-use Industry 15.3. Canada Market Analysis 15.3.1. Value Proportion Analysis By Market Taxonomy 15.3.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.3.2.1. By Customer Type 15.3.2.2. By End-use Industry 15.4. Brazil Market Analysis 15.4.1. Value Proportion Analysis By Market Taxonomy 15.4.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.4.2.1. By Customer Type 15.4.2.2. By End-use Industry 15.5. Mexico Market Analysis 15.5.1. Value Proportion Analysis By Market Taxonomy 15.5.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.5.2.1. By Customer Type 15.5.2.2. By End-use Industry 15.6. Argentina Market Analysis 15.6.1. Value Proportion Analysis By Market Taxonomy 15.6.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.6.2.1. By Customer Type 15.6.2.2. By End-use Industry 15.7. Germany Market Analysis 15.7.1. Value Proportion Analysis By Market Taxonomy 15.7.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.7.2.1. By Customer Type 15.7.2.2. By End-use Industry 15.8. France Market Analysis 15.8.1. Value Proportion Analysis By Market Taxonomy 15.8.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.8.2.1. By Customer Type 15.8.2.2. By End-use Industry 15.9. Italy Market Analysis 15.9.1. Value Proportion Analysis By Market Taxonomy 15.9.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.9.2.1. By Customer Type 15.9.2.2. By End-use Industry 15.10. Spain Market Analysis 15.10.1. Value Proportion Analysis By Market Taxonomy 15.10.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.10.2.1. By Customer Type 15.10.2.2. By End-use Industry 15.11. Peru Market Analysis 15.11.1. Value Proportion Analysis By Market Taxonomy 15.11.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.11.2.1. By Customer Type 15.11.2.2. By End-use Industry 15.12. NORDIC Market Analysis 15.12.1. Value Proportion Analysis By Market Taxonomy 15.12.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.12.2.1. By Customer Type 15.12.2.2. By End-use Industry 15.13. BENELUX Market Analysis 15.13.1. Value Proportion Analysis By Market Taxonomy 15.13.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.13.2.1. By Customer Type 15.13.2.2. By End-use Industry 15.14. U.K. Market Analysis 15.14.1. Value Proportion Analysis By Market Taxonomy 15.14.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.14.2.1. By Customer Type 15.14.2.2. By End-use Industry 15.15. China Market Analysis 15.15.1. Value Proportion Analysis By Market Taxonomy 15.15.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.15.2.1. By Customer Type 15.15.2.2. By End-use Industry 15.16. Japan Market Analysis 15.16.1. Value Proportion Analysis By Market Taxonomy 15.16.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.16.2.1. By Customer Type 15.16.2.2. By End-use Industry 15.17. South Korea Market Analysis 15.17.1. Value Proportion Analysis By Market Taxonomy 15.17.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.17.2.1. By Customer Type 15.17.2.2. By End-use Industry 15.18. India Market Analysis 15.18.1. Value Proportion Analysis By Market Taxonomy 15.18.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.18.2.1. By Customer Type 15.18.2.2. By End-use Industry 15.19. ASEAN Countries Market Analysis 15.19.1. Value Proportion Analysis By Market Taxonomy 15.19.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.19.2.1. By Customer Type 15.19.2.2. By End-use Industry 15.20. GCC Countries Market Analysis 15.20.1. Value Proportion Analysis By Market Taxonomy 15.20.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.20.2.1. By Customer Type 15.20.2.2. By End-use Industry 15.21. Turkiye Market Analysis 15.21.1. Value Proportion Analysis By Market Taxonomy 15.21.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.21.2.1. By Customer Type 15.21.2.2. By End-use Industry 15.22. South Africa Market Analysis 15.22.1. Value Proportion Analysis By Market Taxonomy 15.22.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.22.2.1. By Customer Type 15.22.2.2. By End-use Industry 16. Market Structure Analysis 16.1. Market Analysis By Tier of Companies 16.2. Market Concentration of Players 16.3. Market Share Analysis of Top Players 17. Competition Analysis 17.1. Competition Dashboard 17.2. Competition Deep Dive / company Profiles: Market 17.2.1. ADP 17.2.1.1. Overview 17.2.1.2. Service Portfolio 17.2.1.3. Key Financials 17.2.1.4. SWOT Analysis 17.2.1.5. Key Developments 17.2.1.6. Strategy Overview 17.2.2. Gusto 17.2.2.1. Overview 17.2.2.2. Service Portfolio 17.2.2.3. Key Financials 17.2.2.4. SWOT Analysis 17.2.2.5. Key Developments 17.2.2.6. Strategy Overview 17.2.3. Infosys Limited 17.2.3.1. Overview 17.2.3.2. Service Portfolio 17.2.3.3. Key Financials 17.2.3.4. SWOT Analysis 17.2.3.5. Key Developments 17.2.3.6. Strategy Overview 17.2.4. International Business Machines Corporation 17.2.4.1. Overview 17.2.4.2. Service Portfolio 17.2.4.3. Key Financials 17.2.4.4. SWOT Analysis 17.2.4.5. Key Developments 17.2.4.6. Strategy Overview 17.2.5. Intuit Quickbooks 17.2.5.1. Overview 17.2.5.2. Service Portfolio 17.2.5.3. Key Financials 17.2.5.4. SWOT Analysis 17.2.5.5. Key Developments 17.2.5.6. Strategy Overview 17.2.6. Keka Inc. 17.2.6.1. Overview 17.2.6.2. Service Portfolio 17.2.6.3. Key Financials 17.2.6.4. SWOT Analysis 17.2.6.5. Key Developments 17.2.6.6. Strategy Overview 17.2.7. KPMG 17.2.7.1. Overview 17.2.7.2. Service Portfolio 17.2.7.3. Key Financials 17.2.7.4. SWOT Analysis 17.2.7.5. Key Developments 17.2.7.6. Strategy Overview 17.2.8. OnPay 17.2.8.1. Overview 17.2.8.2. Service Portfolio 17.2.8.3. Key Financials 17.2.8.4. SWOT Analysis 17.2.8.5. Key Developments 17.2.8.6. Strategy Overview 17.2.9. Papaya Global 17.2.9.1. Overview 17.2.9.2. Service Portfolio 17.2.9.3. Key Financials 17.2.9.4. SWOT Analysis 17.2.9.5. Key Developments 17.2.9.6. Strategy Overview 17.2.10. Paychex 17.2.10.1. Overview 17.2.10.2. Service Portfolio 17.2.10.3. Key Financials 17.2.10.4. SWOT Analysis 17.2.10.5. Key Developments 17.2.10.6. Strategy Overview 17.2.11. Sage Group plc 17.2.11.1. Overview 17.2.11.2. Service Portfolio 17.2.11.3. Key Financials 17.2.11.4. SWOT Analysis 17.2.11.5. Key Developments 17.2.11.6. Strategy Overview 17.2.12. Square 17.2.12.1. Overview 17.2.12.2. Service Portfolio 17.2.12.3. Key Financials 17.2.12.4. SWOT Analysis 17.2.12.5. Key Developments 17.2.12.6. Strategy Overview 17.2.13. SurePayroll 17.2.13.1. Overview 17.2.13.2. Service Portfolio 17.2.13.3. Key Financials 17.2.13.4. SWOT Analysis 17.2.13.5. Key Developments 17.2.13.6. Strategy Overview 17.2.14. Vision H.R. 17.2.14.1. Overview 17.2.14.2. Service Portfolio 17.2.14.3. Key Financials 17.2.14.4. SWOT Analysis 17.2.14.5. Key Developments 17.2.14.6. Strategy Overview 17.2.15. Workday Inc. 17.2.15.1. Overview 17.2.15.2. Service Portfolio 17.2.15.3. Key Financials 17.2.15.4. SWOT Analysis 17.2.15.5. Key Developments 17.2.15.6. Strategy Overview 17.2.16. Zalaris ASA Gusto 17.2.16.1. Overview 17.2.16.2. Service Portfolio 17.2.16.3. Key Financials 17.2.16.4. SWOT Analysis 17.2.16.5. Key Developments 17.2.16.6. Strategy Overview 17.2.17. Other Key Players 17.2.17.1. Overview 17.2.17.2. Service Portfolio 17.2.17.3. Key Financials 17.2.17.4. SWOT Analysis 17.2.17.5. Key Developments 17.2.17.6. Strategy Overview 18. Assumptions & Acronyms Used 19. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ Billion) and Forecast By Region, 2018-2022
Table 2: Global Market Value (US$ Billion) and Forecast By Region, 2023-2033
Table 3: Global Market Value (US$ Billion) and Forecast By Customer Type, 2018-2022
Table 4: Global Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 5: Global Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 6: Global Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
Table 7: North America Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 8: North America Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 9: North America Market Value (US$ Billion) and Forecast By Customer Type, 2018-2022
Table 10: North America Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 11: North America Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 12: North America Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
Table 13: Latin America Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 14: Latin America Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 15: Latin America Market Value (US$ Billion) and Forecast By Customer Type, 2018-2022
Table 16: Latin America Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 17: Latin America Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 18: Latin America Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
Table 19: Europe Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 20: Europe Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 21: Europe Market Value (US$ Billion) and Forecast By Customer Type, 2018-2022
Table 22: Europe Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 23: Europe Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 24: Europe Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
Table 25: East Asia Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 26: East Asia Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 27: East Asia Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 28: East Asia Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 29: East Asia Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
Table 30: South Asia & Oceania Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 31: South Asia & Oceania Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 32: South Asia & Oceania Market Value (US$ Billion) and Forecast By Customer Type, 2018-2022
Table 33: South Asia & Oceania Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 34: South Asia & Oceania Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 35: South Asia & Oceania Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
Table 36: MEA Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 37: MEA Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 38: MEA Market Value (US$ Billion) and Forecast By Customer Type, 2018-2022
Table 39: MEA Market Value (US$ Billion) and Forecast By Customer Type, 2023-2033
Table 40: MEA Market Value (US$ Billion) and Forecast By End-use Industry, 2018-2022
Table 41: MEA Market Value (US$ Billion) and Forecast By End-use Industry, 2023-2033
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List Of Figures
Figure 1: Global Market Value (US$ Billion) Forecast, 2023-2033
Figure 2: Global Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 3: Global Market Value (US$ Billion) By Region, 2023 & 2033
Figure 4: Global Market Y-o-Y Growth Rate By Region, 2023-2033
Figure 5: Global Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 6: Global Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 7: Global Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 8: Global Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 9: North America Market Value (US$ Billion) Forecast, 2023-2033
Figure 10: North America Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 11: North America Market Value (US$ Billion) By Country, 2023 & 2033
Figure 12: North America Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 13: North America Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 14: North America Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 15: North America Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 17: North America Market Attractiveness Analysis By Country, 2023-2033
Figure 18: North America Market Attractiveness Analysis By Customer Type, 2023-2033
Figure 19: North America Market Attractiveness Analysis By End-use Industry, 2023-2033
Figure 20: Latin America Market Value (US$ Billion) Forecast, 2023-2033
Figure 21: Latin America Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 22: Latin America Market Value (US$ Billion) By Country, 2023 & 2033
Figure 23: Latin America Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 24: Latin America Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 25: Latin America Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 26: Latin America Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 27: Latin America Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 28: Latin America Market Attractiveness Analysis By Country, 2023-2033
Figure 29: Latin America Market Attractiveness Analysis By Customer Type, 2023-2033
Figure 30: Latin America Market Attractiveness Analysis By End-use Industry, 2023-2033
Figure 31: Europe Market Value (US$ Billion) Forecast, 2023-2033
Figure 32: Europe Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 33: Europe Market Value (US$ Billion) By Country, 2023 & 2033
Figure 34: Europe Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 35: Europe Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 36: Europe Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 37: Europe Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 38: Europe Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 39: Europe Market Attractiveness Analysis By Country, 2023-2033
Figure 40: Europe Market Attractiveness Analysis By Customer Type, 2023-2033
Figure 41: Europe Market Attractiveness Analysis By End-use Industry, 2023-2033
Figure 42: East Asia Market Value (US$ Billion) Forecast, 2023-2033
Figure 43: East Asia Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 44: East Asia Market Value (US$ Billion) By Country, 2023 & 2033
Figure 45: East Asia Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 46: East Asia Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 47: East Asia Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 48: East Asia Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 49: East Asia Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 50: East Asia Market Attractiveness Analysis By Country, 2023-2033
Figure 51: East Asia Market Attractiveness Analysis By Customer Type, 2023-2033
Figure 52: East Asia Market Attractiveness Analysis By End-use Industry, 2023-2033
Figure 53: South Asia & Oceania Market Value (US$ Billion) Forecast, 2023-2033
Figure 54: South Asia & Oceania Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 55: South Asia & Oceania Market Value (US$ Billion) By Country, 2023 & 2033
Figure 56: South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 57: South Asia & Oceania Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 58: South Asia & Oceania Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 59: South Asia & Oceania Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 60: South Asia & Oceania Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 61: South Asia & Oceania Market Attractiveness Analysis By Country, 2023-2033
Figure 62: South Asia & Oceania Market Attractiveness Analysis By Customer Type, 2023-2033
Figure 63: South Asia & Oceania Market Attractiveness Analysis By End-use Industry, 2023-2033
Figure 64: MEA Market Value (US$ Billion) Forecast, 2023-2033
Figure 65: MEA Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 66: MEA Market Value (US$ Billion) By Country, 2023 & 2033
Figure 67: MEA Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 68: MEA Market Value (US$ Billion) By Customer Type, 2023 & 2033
Figure 69: MEA Market Y-o-Y Growth Rate By Customer Type, 2023-2033
Figure 70: MEA Market Value (US$ Billion) By End-use Industry, 2023 & 2033
Figure 71: MEA Market Y-o-Y Growth Rate By End-use Industry, 2023-2033
Figure 72: MEA Market Attractiveness Analysis By Country, 2023-2033
Figure 73: MEA Market Attractiveness Analysis By Customer Type, 2023-2033
Figure 74: MEA Market Attractiveness Analysis By End-use Industry, 2023-2033
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- FAQs -
What is the expected worth of the payroll outsourcing services industry in 2023?
By 2023, Fact.MR expected demand for payroll outsourcing services to reach a valuation of US$ 18037 Million
What is the expected forecast CAGR for payroll outsourcing services from 2023-2033?
From 2023-2033, payroll outsourcing services demand is likely to surge at a 6.1% CAGR
At what value will the market for payroll outsourcing services close in 2033?
By 2033, the market for payroll outsourcing services is likely to be valued at US$ 32607.5 Million
By end-used, which category is likely to remain prominent until 2033?
The services segment will remain the most prominent user, accounting for a market share of 23%
What was the market worth for payroll outsourcing services in 2022?
As of 2022, Fact.MR estimated the payroll outsourcing services market to have reached US$ 17000 Million
At what CAGR did the payroll outsourcing services market flourish from 2018-2022?
From 2018-2022, the payroll outsourcing services market grew at a 4.3% value CAGR
Payroll Outsourcing Services Market