According to the market research report released by Technavio, the global payroll outsourcing services market is expected to accelerate at a CAGR of almost 6% during the forecast period. The growing need for payroll cost visibility is one of the key factors triggering the growth of the market.
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According to the market research report released by Technavio, the global payroll outsourcing services market is expected to accelerate at a CAGR of almost 6% until 2021. (Graphic: Business Wire)
This research report titled ‘Global Payroll Outsourcing Services Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global payroll outsourcing services market into the following products:
- Hybrid
- Fully outsourced
In 2016, the hybrid segment accounted for 12% of the global market and is projected to reach 15% by 2021, exhibiting almost 3% increase in market share.
Global payroll outsourcing services market: Top emerging trend
The rise of multi-country and centralized outsourcing models is an emerging trend in the payroll outsourcing services market space. Organizations are looking for outsourcing partners that have exposure to multiple countries and can handle all the recruitment functions using process improvement, best practices, and benchmarking. Many countries from Eastern Europe are trying to maintain a competitive edge by adopting payroll outsourcing strategies. These factors are expected to boost the adoption of payroll outsourcing solutions among multinational companies.
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Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Payroll Outsourcing Services Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by end-user (mid-market, national, and multi-national)
- Market segmentation by product (hybrid and fully outsourced)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (ADP, Ceridian HCM, NGA Human Resources, and Paychex)
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20181018005624/en/
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