Payroll & Bookkeeping Services Global Market Report 2018
NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Payroll & Bookkeeping Services Global Market Report By Product Type: Payroll Services; Bookkeeping Services; By Region, By Country, With Forecast Until 2021
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The global payroll & bookkeeping services market was valued at $287 billion in 2017. These services collect information on payroll related data such as pay rates and deductions from their clients and generate paychecks and tax filings by using data processing and tabulating techniques. High demand for tax preparation services, payroll and auditing from government and private establishments in countries such as China and India drove this market in the historic period.
Payroll Services comprise establishments that collect information on hours worked, pay rates, deductions and other payroll-related data from their clients to generate paychecks, payroll reports, and tax filings. These establishments may use data processing and tabulating techniques as part of providing their services.
Payroll & Bookkeeping Services industry in this report is segmented into payroll services and bookkeeping services.
North America was the largest geographic region accounting for around 42% of the global market. The USA was the largest country accounting for around $98 billion of the global payroll & bookkeeping services Market.
Payroll and Bookkeeping Services are increasingly moving their business operations to the cloud to reduce their operational expenditures. It eliminates the need for installing and updating programs and reduces investments on hardware and server equipment. It also integrates with banking and accounting software, thereby saving time and costs and also ensuring the safety and security of the data.
Some accountants are outsourcing typical basic accounting tasks such as payroll accounting, accounts payable and accounts receivable to allow their employees to focus on higher value activities such as becoming vertical experts in their customer's markets and analyzing their clients' business data. This extra attention and analysis is transforming the role of a traditional accountant into a business advisor and takes customer service to the next level by developing strong counsel-focused relationships.
Major companies in this market are Intuit, Paychex, ADP, SurePayroll and Paycor.
Segments: Payroll Services; Bookkeeping Services
Regions covered: Asia-Pacific, North America, South America, Western Europe, Eastern Europe, Middle East, Africa
Countries covered: India, China, Japan, Australia, UK, Germany, France, Italy, Spain, Russia, USA, Brazil
Historic period: 2013-2017
Base year: 2017
Forecast period: 2017-2021
Executive Summary
Payroll Services comprise establishments that collect information on hours worked, pay rates, deductions and other payroll-related data from their clients to generate paychecks, payroll reports, and tax filings. These establishments may use data processing and tabulating techniques as part of providing their services.
The global payroll & bookkeeping services market was valued at $287.7 billion in 2017. North America was the largest geographic region accounting for $121.3 billion or 42.2% of the global market. The USA was the largest country accounting for $98.7 billion or 34.3% of the global payroll & bookkeeping services market.
Payroll and Bookkeeping Services are increasingly moving their business operations to the cloud to reduce their operational expenditures. It eliminates the need for installing and updating programs and reduces investments on hardware and server equipment. It also integrates with banking and accounting software, thereby saving time and costs and also ensuring the safety and security of the data.Payroll & Bookkeeping Services Market Global Report 2018 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global payroll & bookkeeping services market.
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Description:
Where is the largest and fastest growing market for the payroll & bookkeeping services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The payroll & bookkeeping services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider professional services market, and compares it with other markets.
? The market characteristics section of the report defines and explains the market.
? The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
? Market segmentations break down market into sub markets.
? The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
? Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
? The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
? The payroll & bookkeeping services market section of the report gives context. It compares the payroll & bookkeeping services market with other segments of the payroll & bookkeeping services market by size and growth, historic and forecast. It analyses Expenditure Per Capita, The Payroll & Bookkeeping Services Market Indicators Comparison.
Scope
Markets Covered: Payroll Services; Bookkeeping Services
Companies Mentioned: Intuit, Paychex, ADP, SurePayroll, Paycor
Countries: Brazil, China, France, Germany, India, Italy, Japan, Spain, Russia, UK, USA and Australia.
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP, Expenditure Per Capita, The Payroll & Bookkeeping Services Market Indicators Comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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