Press release
At a CAGR of 5.56% Payroll Outsourcing Services Market 2021 : Standardize Processes, Ttechnology, and Governance
About Payroll Outsourcing Services
Payroll outsourcing is the fastest-growing segment of the global human resource outsourcing (HRO) market. Organizations are rapidly adopting payroll services to achieve cost reduction. They either outsource a single process or the entire set of services to enhance the existing function. Most of the payroll outsourcing functions are related to finance and accounting (F&A), human capital management (HCM), and shared service centers. Organizations maintaining an in-house team for tasks such as payroll, time and attendance, workforce administration, and benefits administration spend 20% more than organizations that outsource the same functions.
Technavios analysts forecast the global payroll outsourcing services market to grow at a CAGR of 5.56% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global payroll outsourcing services market for 2017-2021. To calculate the market size, the report considers the revenue generated from payroll services outsourced to third-party service providers.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Payroll Outsourcing Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
ADP
Ceridian HCM
NGA Human Resources
Paychex
Other prominent vendors
Accenture
Caliber Point Business Solutions (Hexaware Technologies)
CGI Group
Genpact
Hewlett Packard Enterprise Development
IBM
Infosys
Intuit
Ramco Systems
SafeGuard World International
Workday
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Market driver
Increasing demand to standardize processes, technology, and governance.
For a full, detailed list, view our report
Market challenge
Issues related to geographical transition.
For a full, detailed list, view our report
Market trend
Rise of multi-country and centralized outsourcing models.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Market size and forecast
PART 06: Five forces analysis
Five forces analysis
PART 07: Market segmentation by product
Hybrid
Fully outsourced
PART 08: Market segmentation by end-user
Mid-market
National
Multinational
PART 09: Geographical segmentation
Americas
EMEA
APAC
PART 10: Decision framework
PART 11: Drivers and challenges
Market drivers
Impact of drivers on key customer segments
Market challenges
Impact of challenges on key customer segments
PART 12: Market trends
Rise of multi-country and centralized outsourcing models
Evolution of BPaaS
Expansion of MNCs in South America
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