LONDON--(BUSINESS WIRE)--Technavio has been monitoring the payroll outsourcing services market and it is poised to grow by USD 5.01 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by application, which is the leading segment in the market?
- The mid-market segment is expected to be the leading segment based on application in the global market during the forecast period.
- What are the major trends in the market?
- Rise of multi-country and centralized outsourcing models is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 5%, the incremental growth of the market is anticipated to be USD 5.01 billion.
- Who are the top players in the market?
- Accenture Plc, Automatic Data Processing Inc., Deloitte Touche Tohmatsu Ltd., HP Inc., International Business Machines Corp., Infosys Ltd., Sage Group Plc, Wipro Ltd., Workday Inc., and Xerox Corp. are some of the major market participants.
- What are the key market drivers and challenges?
- Implementation of automation is one of the major factors driving the market. However, the issues related to geographical transition restraints the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Automatic Data Processing Inc., Deloitte Touche Tohmatsu Ltd., HP Inc., International Business Machines Corp., Infosys Ltd., Sage Group Plc, Wipro Ltd., Workday Inc., and Xerox Corp. are some of the major market participants. The implementation of automation will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Payroll Outsourcing Services Market 2020-2024: Segmentation
Payroll Outsourcing Services Market is segmented as below:
-
Application
- Mid-market
- National
- International
-
Geography
- North America
- Europe
- APAC
- South America
- MEA
-
Product
- Hybrid
- Fully Outsourced
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Payroll Outsourcing Services Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The payroll outsourcing services market report covers the following areas:
- Payroll Outsourcing Services Market Size
- Payroll Outsourcing Services Market Trends
- Payroll Outsourcing Services Market Analysis
This study identifies rise of multi-country and centralized outsourcing models as one of the prime reasons driving the payroll outsourcing services market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Payroll Outsourcing Services Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist payroll outsourcing services market growth during the next five years
- Estimation of the payroll outsourcing services market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the payroll outsourcing services market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of payroll outsourcing services market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Hybrid - Market size and forecast 2019-2024
- Fully outsourced - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application
- Mid-market - Market size and forecast 2019-2024
- National - Market size and forecast 2019-2024
- Multinational - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Marker drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Automatic Data Processing Inc.
- Deloitte Touche Tohmatsu Ltd.
- HP Inc.
- International Business Machines Corp.
- Infosys Ltd.
- Sage Group Plc
- Wipro Ltd.
- Workday Inc.
- Xerox Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
-
List of abbreviations
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