{"product_id":"payroll-outsourcing-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","title":"Payroll Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028","description":"\u003cp\u003ePayroll Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028\u003cbr\u003e\nMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eThe global payroll outsourcing market size reached US$ 8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.24% during 2023-2028.\u003c\/p\u003e\n\n\u003cp\u003ePayroll 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.\u003c\/p\u003e\n\n\u003cp\u003eDue 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.\u003c\/p\u003e \n\n\u003cp\u003eKey Market Segmentation:\u003cbr\u003e\nIMARC Group provides an analysis of the key trends in each sub-segment of the global payroll outsourcing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end use industry.\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Type:\u003c\/p\u003e\n\n\u003cp\u003eFull-Managed Outsourcing\u003cbr\u003e\nCo-Managed Outsourcing\u003cbr\u003e\n \u003cbr\u003e\nBreakup by Application:\u003c\/p\u003e\n\n\u003cp\u003eSmall Business\u003cbr\u003e\nMedium Business\u003cbr\u003e\nLarge Business\u003cbr\u003e\n \u003cbr\u003e\nBreakup by End Use Industry:\u003c\/p\u003e\n\n\u003cp\u003eBFSI\u003cbr\u003e\nConsumer and Industrial Products\u003cbr\u003e\nIT and Telecommunication\u003cbr\u003e\nPublic Sector\u003cbr\u003e\nHealthcare\u003cbr\u003e\nOthers\u003cbr\u003e\n \u003cbr\u003e\nBreakup by Region:\u003c\/p\u003e\n\n\u003cp\u003eNorth America\u003cbr\u003e\nUnited States\u003cbr\u003e\nCanada\u003cbr\u003e\nAsia Pacific\u003cbr\u003e\nChina\u003cbr\u003e\nJapan\u003cbr\u003e\nIndia\u003cbr\u003e\nSouth Korea\u003cbr\u003e\nAustralia\u003cbr\u003e\nIndonesia\u003cbr\u003e\nOthers\u003cbr\u003e\nEurope\u003cbr\u003e\nGermany\u003cbr\u003e\nFrance\u003cbr\u003e\nUnited Kingdom\u003cbr\u003e\nItaly\u003cbr\u003e\nSpain\u003cbr\u003e\nRussia\u003cbr\u003e\nOthers\u003cbr\u003e\nLatin America\u003cbr\u003e\nBrazil\u003cbr\u003e\nMexico\u003cbr\u003e\nOthers\u003cbr\u003e\nMiddle East and Africa\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Landscape:\u003cbr\u003e\nThe report has also analysed the competitive landscape of the market with some of the key players being Accenture Plc, ADP Group Companies, Deloitte Touche Tohmatsu Limited, Hewlett Packard Enterprise Company, Infosys Limited, International Business Machines Corporation, Intuit Inc., Paychex Inc., Wipro, Workday Inc., Xerox Corporation and Zalaris.\u003c\/p\u003e\n\n\u003cp\u003eKey Questions Answered in This Report:\u003cbr\u003e\nHow has the global payroll outsourcing market performed so far and how will it perform in the coming years?\u003cbr\u003e\nWhat has been the impact of COVID-19 on the global payroll outsourcing market?\u003cbr\u003e\nWhat are the key regional markets?\u003cbr\u003e\nWhat is the breakup of the market based on the type?\u003cbr\u003e\nWhat is the breakup of the market based on the application?\u003cbr\u003e\nWhat is the breakup of the market based on the end use industry?\u003cbr\u003e\nWhat are the various stages in the value chain of the industry?\u003cbr\u003e\nWhat are the key driving factors and challenges in the industry?\u003cbr\u003e\nWhat is the structure of the global payroll outsourcing market and who are the key players?\u003cbr\u003e\nWhat is the degree of competition in the industry?\u003c\/p\u003e","brand":"Service Industrries","offers":[{"title":"October, 2023 \/ 148 Pages \/ MCW16271164","offer_id":47707424457010,"sku":null,"price":2999.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/payroll-outsourcing-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}