Data Protection Law–Impact on Payroll
Supply Trends and Insights
Global Supplier List and Service Capabilities
The global market for payroll outsourcing is estimated to reach $10336 million by 2023 while growing at a constant CAGR of 4.4 percent. The market growth is uniform across all regions, with the maximum growth coming from multi-country payroll contracts. The multi-country payroll market is growing three times the rate of overall market and represents 15 percent of the entire standalone payroll services revenue. North America and Europe are the most dominant payroll markets and account for a major portion of the global deal activity. APAC and LATAM are also emerging payroll outsourcing markets.
Cloud-based systems are expected to introduce new opportunities within the global payroll sphere as that would make it easier to align payroll and HR internationally. The report also provides Brexit's impact on payroll outsourcing, along with a study of different impact areas. It also outlines the major industry trends prevalent in the industry, along with major drivers and constraints. It also provides an industrial market outlook in areas such as North America, Europe, Middle East, Africa, APAC, and LATAM. It also explores the various opportunities and challenges influencing payroll outsourcing, followed by Porter's five forces analysis on emerging and developed markets.
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.
Category Intelligence on Payroll Outsourcing covers the following
The global payroll outsourcing market was worth $16.4 billion in 2015, and it is estimated to be around $17.4 billion in 2016
Payroll outsourcing market maturity is lowest in the Middle East and Africa.
Bundled payroll services have become a market trend due to the increasing market maturity of payroll outsourcing services.
Cost savings (above 20 percent)
Rising demand for MCPO