Quick Summary:
In an increasingly globalized and intricate business arena, precise and effective payroll management has become an essential factor for operational success. The Global Payroll Outsourcing Services Market is poised for significant growth, underpinned by this crucial business necessity. Expected to reach a substantial value of US$37.3 Billion by 2030, it represents a highly relevant area of interest for executives keen on streamlining and optimizing their business processes.
This comprehensive market research report offers invaluable insights into the industry. It covers key aspects of the payroll outsourcing services market, including segmentation analysis, geographic trends, and presents a thorough discussion on quite a few influential market competitors. As a unique feature, it includes special coverage on important global events and phenomena such as international trade tensions and risk of recession. Invest in this research to facilitate informed decision-making, ensuring your company rides the wave of growth in the payroll outsourcing services market.
Global Payroll Outsourcing Services Market to Reach $37.3 Billion by 2030
The global market for Payroll Outsourcing Services estimated at US$25.3 Billion in the year 2022, is projected to reach a revised size of US$37.3 Billion by 2030, growing at a CAGR of 5% over the analysis period 2022-2030. Fully Outsourced, one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$28.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hybrid segment is readjusted to a revised 6.3% CAGR for the next 8-year period.The U.S. Market is Estimated at $6.8 Billion, While China is Forecast to Grow at 8% CAGR
The Payroll Outsourcing Services market in the U.S. is estimated at US$6.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$8.1 Billion by the year 2030 trailing a CAGR of 8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.Select Competitors (Total 42 Featured) -
- Accenture PLC
- ADP LLC
- Ceridian HCM, Inc.
- CGI Group, Inc.
- Genpact
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Infosys Ltd.
- Intuit, Inc.
- NGA Human Resources
- Paychex, Inc.
- Ramco Systems Ltd.
- SafeGuard World International
- Workday, Inc.
What's New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
What is the estimated value of the Global Market for Payroll Outsourcing Services?
What is the growth rate of the Global Market for Payroll Outsourcing Services?
What is the forecasted size of the Global Market for Payroll Outsourcing Services?
Who are the key companies in the Global Market for Payroll Outsourcing Services?
Report Attribute | Details |
---|---|
No. of Pages | 173 |
Published | September 2023 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 25.3 Billion |
Forecasted Market Value ( USD | $ 37.3 Billion |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Global |
Table of Contents
Companies Mentioned
A selection of companies mentioned in this report includes:
- Accenture PLC
- ADP LLC
- Ceridian HCM, Inc.
- CGI Group, Inc.
- Genpact
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Infosys Ltd.
- Intuit, Inc.
- NGA Human Resources
- Paychex, Inc.
- Ramco Systems Ltd.
- SafeGuard World International
- Workday, Inc.