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Global Payroll Outsourcing Market Report 2020: Industry Trends, Share, Size, Growth, Opportunity and Forecasts, 2014-2019 & 2020-2025 - ResearchAndMarkets.com

·4 min read

The "Payroll Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The global payroll outsourcing market grew at a CAGR of around 6% during 2014-2019.

Payroll outsourcing refers to the usage of third-party sources and organizations to manage administrative and compliance operations. It involves maintaining employee records, calculating salaries and wages, computing and adding bonuses, generating payroll-related reports, and complying with taxation laws applicable in different countries.

It also assists organizations in saving costs and time, and reducing the need for in-house trained payroll staff, and purchasing and maintaining appropriate software packages. Besides this, it provides organizations dealing internationally with the advantage of staying updated with foreign tax legislation and avoiding any potential penalties.

Due to the expanding geographical reach of organizations, there is a rise in the demand for time-saving and cost-effective measures, such as payroll outsourcing, that allow the management to focus on core issues and run the business smoothly. Moreover, the incorporation of digitized services, such as business analytics, big data and the cloud, is escalating the demand for payroll outsourcing across the globe.

Furthermore, the rising trend of multi-country payroll outsourcing (MCPO), bundling payroll services and process automation is further contributing to the market growth.

Apart from this, the leading players are providing hybrid payroll solutions that enable companies to decide upon customized payroll sub-services as per the requirement to avoid compromising confidential data. Additionally, on account of the spread of the coronavirus disease (COVID-19) and the consequent shift toward remote work by a number of organizations, market players are offering different ways to manage payroll operations online.

Looking forward, the global payroll outsourcing market to continue its moderate growth during the next five years.

Key Questions Answered in This Report:

  • How has the global payroll outsourcing market performed so far and how will it perform in the coming years?

  • What has been the impact of COVID-19 on the global payroll outsourcing market?

  • What are the key regional markets?

  • What is the breakup of the market based on the type?

  • What is the breakup of the market based on the application?

  • What is the breakup of the market based on the end use industry?

  • What are the various stages in the value chain of the industry?

  • What are the key driving factors and challenges in the industry?

  • What is the structure of the global payroll outsourcing market and who are the key players?

  • What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study

2.2 Stakeholders

2.3 Data Sources

2.4 Market Estimation

2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Payroll Outsourcing Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Type

6.1 Full-Managed Outsourcing

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Co-Managed Outsourcing

7 Market Breakup by Application

7.1 Small Business

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Medium Business

7.3 Large Business

8 Market Breakup by End Use Industry

8.1 BFSI

8.1.1 Market Trends

8.1.2 Market Forecast

8.2 Consumer and Industrial Products

8.3 IT and Telecommunication

8.4 Public Sector

8.5 Healthcare

8.6 Others

9 Market Breakup by Region

10 SWOT Analysis

10.1 Overview

10.2 Strengths

10.3 Weaknesses

10.4 Opportunities

10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

12.1 Overview

12.2 Bargaining Power of Buyers

12.3 Bargaining Power of Suppliers

12.4 Degree of Competition

12.5 Threat of New Entrants

12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

  • Accenture Plc

  • Automatic Data Processing Inc.

  • Deloitte Touche Tohmatsu Limited

  • Hp Inc.

  • Infosys Limited

  • International Business Machines Corporation

  • Intuit Inc.

  • Paychex Inc.

  • Wipro

  • Workday Inc.

  • Xerox Corporation

  • Zalaris

For more information about this report visit https://www.researchandmarkets.com/r/i2kkq9

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005821/en/

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