May 4, 2022, 3:54 a.m. EDT

Payroll Outsourcing Market Report 2022, Size, Share, Trends and Forecast to 2027

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May 04, 2022 (SUPER MARKET RESEARCH via COMTEX) -- According to IMARC Group's latest report, titled "Payroll Outsourcing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global payroll outsourcing market reached a value of US$ 8.6 Billion in 2021 . Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2027, exhibiting a CAGR of 5.11% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Payroll outsourcing refers to the use of third-party sources and organizations to handle administrative and compliance operations. It includes keeping records of employees, calculating salaries and wages, computing and adding incentives, producing payroll-related reports, and complying with tax laws applicable in various countries. Payroll outsourcing assists companies in saving time and money by reducing the need for in-house qualified payroll staffs and managing appropriate software packages. It also provides multinational organizations with the advantage of staying updated with global tax laws and preventing any potential penalties.

Request Free Sample Report: https://www.imarcgroup.com/payroll-outsourcing-market/requestsample

Market Trends

The growing incorporation of several digitized services, such as business analytics, big data, and cloud, is primarily driving the market for payroll outsourcing. Moreover, the prevalent trend of multi-country payroll outsourcing (MCPO), bundling payroll services, and process automation, is also augmenting the market growth. In addition to this, several leading players are offering hybrid payroll solutions that enable organizations to decide upon customized payroll sub-services. Furthermore, the sudden outbreak of the COVID pandemic, in early 2020, has led to the rising adoption of work-from-home models by several organizations leading to the emergence of efficient ways of online management of payroll operations.

Ask Analyst and Browse Full Report with TOC & List of Figure: https://bit.ly/2RpUJmn

List of Key Companies Covered in this Market Report:

Accenture Plc /zigman2/quotes/201711136/composite ACN -1.16%
Automatic Data Processing Inc. /zigman2/quotes/207661132/composite ADP +0.12%
Deloitte Touche Tohmatsu Limited Hp Inc.
Infosys Limited (nse:INFY)
International Business Machines Corporation Intuit Inc.
Paychex Inc. /zigman2/quotes/202030365/composite PAYX -0.31%
Wipro (nse:WIPRO)
Workday Inc. /zigman2/quotes/201157610/composite WDAY -2.14%
Xerox Corporation /zigman2/quotes/201169674/composite XRX -5.69%
Zalaris

The report has segmented the market on the basis of type, application, end use industry and geography

Breakup by Type:

Full-Managed Outsourcing
Co-Managed Outsourcing

Breakup by Application:

Small Business
Medium Business
Large Business

Breakup by End Use Industry:

BFSI
Consumer and Industrial Products
IT and Telecommunication
Professional Services
Public Sector
Healthcare
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

/zigman2/quotes/201711136/composite
US : U.S.: NYSE
$ 317.06
-3.72 -1.16%
Volume: 502,442
Aug. 17, 2022 11:53a
P/E Ratio
30.91
Dividend Yield
1.22%
Market Cap
$202.91 billion
Rev. per Employee
$95,497
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/zigman2/quotes/207661132/composite
US : U.S.: Nasdaq
$ 260.35
+0.31 +0.12%
Volume: 286,524
Aug. 17, 2022 11:53a
P/E Ratio
37.22
Dividend Yield
1.60%
Market Cap
$108.05 billion
Rev. per Employee
$274,972
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/zigman2/quotes/202030365/composite
US : U.S.: Nasdaq
$ 137.88
-0.43 -0.31%
Volume: 418,037
Aug. 17, 2022 11:53a
P/E Ratio
36.04
Dividend Yield
2.29%
Market Cap
$49.78 billion
Rev. per Employee
$288,231
loading...
/zigman2/quotes/201157610/composite
US : U.S.: Nasdaq
$ 173.98
-3.81 -2.14%
Volume: 737,833
Aug. 17, 2022 11:54a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$45.16 billion
Rev. per Employee
$355,846
loading...
/zigman2/quotes/201169674/composite
US : U.S.: Nasdaq
$ 18.15
-1.10 -5.69%
Volume: 512,415
Aug. 17, 2022 11:53a
P/E Ratio
N/A
Dividend Yield
5.49%
Market Cap
$2.99 billion
Rev. per Employee
$298,498
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