PUBLISHER: IMARC | PRODUCT CODE: 1800956
PUBLISHER: IMARC | PRODUCT CODE: 1800956
Payroll Outsourcing Market Report by Type, Application, End Use Industry, and Region 2025-2033
The global payroll outsourcing market size reached USD 9.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 15.5 Billion by 2033, exhibiting a growth rate (CAGR) of 5.04% during 2025-2033. The elevating need for efficient and budget-friendly measures, owing to the broadening geographical presence of organizations, is stimulating the market.
Payroll Outsourcing Market Trends:
Adoption of Cloud-Based Payroll Solutions
As per the payroll outsourcing market overview, cloud-based payroll platforms are becoming increasingly popular in the payroll outsourcing sector. Cloud-based solutions give businesses more flexibility, real-time access to payroll data, and easier connection with other HR systems. In May 2024, Worky raised US$ 6 Million to drive growth and accelerate the adoption of cloud-based HR and payroll solutions in Mexico.
Integration of AI and Automation
AI and automation are improving payroll procedures by minimizing manual errors and streamlining operations. Payroll providers are incorporating AI-powered solutions to perform regular operations such as data input, tax computations, and compliance checks, freeing up organizations to focus on strategic HR activities. In September 2024, CloudPay and Workday joined forces to introduce the global payroll connect solution. It can leverage both companies' strengths in technology and customer service to enhance payroll outsourcing statistics.
Increasing Demand for Multi-Country Payroll Solutions
As businesses expand globally, the payroll outsourcing market demand for multi-country solutions grows. Companies operating in several locations are looking for vendors who can manage payroll in a variety of regulatory contexts. In September 2024, UKG, a leading provider of HR, payroll outsourcing, workforce management, and culture solutions and the largest U.S.-based private software company in the world announced the establishment of its newest global operations hub in Kilkenny, Ireland.
Global Payroll Outsourcing Industry Segmentation:
Breakup by Type:
- Full-Managed Outsourcing
- Co-Managed Outsourcing
In full-managed outsourcing, every step of the payroll process is outsourced to an outside vendor, who takes care of everything from tax filing and compliance to salary distribution. Through co-managed outsourcing, companies can outsource responsibilities like compliance or reporting while maintaining control over payroll services. When the aspects of both full-managed and co-managed outsourcing are combined, they are called hybrid payroll outsourcing.
Breakup by Application:
- Small Business
- Medium Business
- Large Business
According to the payroll outsourcing market insights, small businesses often depend on payroll outsourcing to save administrative costs and guarantee tax conformity. Medium business often resorts to co-managed outsourcing models from organizations to get experience in compliance and reporting while still retaining some degree of control over their payroll processes due to their larger workforces and multi-state operations. Large business with significant global operations generally prefers full-managed outsourcing from providers seeking a seamless, fully automated payroll system that handles everything.
Breakup by End Use Industry:
- BFSI
- Consumer and Industrial Products
- IT and Telecommunication
- Public Sector
- Healthcare
- Others
As per the payroll outsourcing industry research, BFSI primarily relies on outsourcing payroll to achieve compliance with complicated regulatory frameworks and tax rules. In the consumer and industrial products sector, payroll outsourcing is used to manage significantly diversified workforces and streamline operations, particularly in manufacturing-heavy countries. With their worldwide distributed workforces, the IT and telecommunication industries frequently use outsourced payroll to manage foreign payments and cross-border compliance, with companies offering global payroll solutions. The public sector, which faces stringent labor laws and large employee bases, outsources payroll functions to reduce administrative costs and ensure accurate reporting. Additionally, the healthcare industry, which has a highly specialized workforce and dynamic shift schedules, relies on payroll outsourcing to manage the complexity of pay scales and benefits administration.
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
According to the payroll outsourcing market outlook, North America is influenced by the labor laws' complexity and the desire for cost-effectiveness. Asia Pacific is growing quickly due to the expansion of international organizations and their adoption of cloud-based payroll solutions to improve operations. Moreover, payroll outsourcing is becoming more popular owing to the need for automation and adherence to strict labor standards in Europe. Furthermore, growing adoption is observed in Latin America as companies attempt to understand regional differences in employment legislation and intricate tax arrangements. Additionally, the need for outsourced services is being driven throughout the Middle East and Africa by the growing requirement for efficient payroll operations and compliance with various labor standards.
Competitive Landscape:
The research report has provided a comprehensive payroll outsourcing market analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include:
- 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
- Zalaris
Key Questions Answered in This Report:
- How has the global payroll outsourcing market performed so far, and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global payroll outsourcing market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global payroll outsourcing market, and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Payroll Outsourcing Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Full-Managed Outsourcing
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Co-Managed Outsourcing
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Application
- 7.1 Small Business
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Medium Business
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Large Business
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by End Use Industry
- 8.1 BFSI
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Consumer and Industrial Products
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 IT and Telecommunication
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Public Sector
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Healthcare
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Accenture Plc
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 ADP Group Companies
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Deloitte Touche Tohmatsu Limited
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 SWOT Analysis
- 14.3.4 Hewlett Packard Enterprise Company
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Infosys Limited
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 International Business Machines Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Intuit Inc.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Paychex Inc.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Wipro
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Workday Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Xerox Corporation
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 Zalaris
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.1 Accenture Plc
List of Figures
- Figure 1: Global: Payroll Outsourcing Market: Major Drivers and Challenges
- Figure 2: Global: Payroll Outsourcing Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Payroll Outsourcing Market: Breakup by Type (in %), 2024
- Figure 4: Global: Payroll Outsourcing Market: Breakup by Application (in %), 2024
- Figure 5: Global: Payroll Outsourcing Market: Breakup by End Use Industry (in %), 2024
- Figure 6: Global: Payroll Outsourcing Market: Breakup by Region (in %), 2024
- Figure 7: Global: Payroll Outsourcing Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 8: Global: Payroll Outsourcing (Full-Managed Outsourcing) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Payroll Outsourcing (Full-Managed Outsourcing) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Payroll Outsourcing (Co-Managed Outsourcing) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Payroll Outsourcing (Co-Managed Outsourcing) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Payroll Outsourcing (Small Business) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Payroll Outsourcing (Small Business) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Payroll Outsourcing (Medium Business) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Payroll Outsourcing (Medium Business) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Payroll Outsourcing (Large Business) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Payroll Outsourcing (Large Business) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Payroll Outsourcing (BFSI) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Payroll Outsourcing (BFSI) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Payroll Outsourcing (Consumer and Industrial Products) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Payroll Outsourcing (Consumer and Industrial Products) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Payroll Outsourcing (IT and Telecommunication) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Payroll Outsourcing (IT and Telecommunication) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Payroll Outsourcing (Public Sector) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Payroll Outsourcing (Public Sector) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Payroll Outsourcing (Healthcare) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Payroll Outsourcing (Healthcare) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Payroll Outsourcing (Other End Use Industries) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Payroll Outsourcing (Other End Use Industries) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: North America: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: North America: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: United States: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: United States: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Canada: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Canada: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Asia Pacific: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Asia Pacific: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: China: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: China: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: Japan: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: Japan: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: India: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: India: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: South Korea: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: South Korea: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Australia: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Australia: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Indonesia: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Indonesia: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Others: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Others: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Europe: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Europe: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Germany: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Germany: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: France: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: France: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: United Kingdom: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: United Kingdom: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Italy: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Italy: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Spain: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Spain: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Russia: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Russia: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Others: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Others: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Latin America: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Latin America: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Brazil: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Brazil: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Mexico: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Mexico: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Others: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Others: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Middle East and Africa: Payroll Outsourcing Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Middle East and Africa: Payroll Outsourcing Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 78: Global: Payroll Outsourcing Industry: SWOT Analysis
- Figure 79: Global: Payroll Outsourcing Industry: Value Chain Analysis
- Figure 80: Global: Payroll Outsourcing Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Payroll Outsourcing Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Payroll Outsourcing Market Forecast: Breakup by Type (in Million USD), 2025-2033
- Table 3: Global: Payroll Outsourcing Market Forecast: Breakup by Application (in Million USD), 2025-2033
- Table 4: Global: Payroll Outsourcing Market Forecast: Breakup by End Use Industry (in Million USD), 2025-2033
- Table 5: Global: Payroll Outsourcing Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Payroll Outsourcing Market Structure
- Table 7: Global: Payroll Outsourcing Market: Key Players
