Professional Employer Organizations (PEOs) Market | Rapidly Expanding Cloud-based Infrastructure

The Professional Employer Organizations (PEOs) Market is expected to be valued at US$ 58 billion in market and growing at a CAGR of 10.9% over the forecast period due to rapidly expanding cloud-based infrastructure across the globe. A professional employer organization (PEO) is an organization that, by leasing workers to the employer, enters into a shared employment arrangement with an employer, allowing the PEO to share and handle many obligations and liabilities related to employees. ADP TotalSource, one of the country's largest suppliers of PEO services, is the largest payroll service provider and a perfect choice for larger companies in need of heavy systemic support.

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Regulatory Compliance Accounted for Higher Revenue Share in Global Professional Employer Organizations (PEOs) Market:
Based on application type, global Professional Employer Organizations (PEOs) market is segmented into risk management, regulatory compliance, withholding & taxation, payroll services, human capital management, insurance services, others. Regulatory Compliance is accounted for higher revenue. Regulatory compliance means being in accordance with the regulations set out by regulators. It is being in a state where the regulatory requirements are met to the fullest extent, as required by regulatory agencies. These regulations are made by the regulatory agencies across the world, whose intention of making these regulations is to ensure the quality of products that are made by organizations in their industry.

North America leads the Global Professional Employer Organizations (PEOs) Market:
Based on regional analysis, global Professional Employer Organizations (PEOs) market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America global Professional Employer Organizations (PEOs) market contributed the largest share in 2021. Human resources technology front, with U.S. companies investing $2 billion into HR technologies in 2016. In fact, those investments have churned upward at an annual rate of 15 percent. The cloud is the biggest investment target for HR technology spending, followed by payroll and benefits management applications.

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The global Professional Employer Organizations (PEOs) market is segmented based on product type, deployment mode, application, organization size and region:
By Product Type
• Full Service PEO
• ASO
• Others

By Deployment Mode
• On-Premises
• Cloud Based

By Application
• Risk Management
• Regulatory Compliance
• Withholding & Taxation
• Payroll Services
• Human Capital Management
• Insurance Services
• Others

By Organization Size
• Small Businesses
• Medium Businesses
• Large Businesses

By Geography
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Key player's profiles in the global Professional Employer Organizations (PEOs) market are: Automatic Data Processing (ADP), Insperity, TriNet, Paychex, TEL Staffing & HR, Oasis Outsourcing, Ahead Human Resources, Group Management Services (GMS), Alcott HR, Total HR, Solid Business Solutions, CoAdvantage, FrankCrum,, Premier Employer Services, XcelHR

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