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:
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:
Market Segmentation Analysis
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.
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