GITNUX MARKETDATA REPORT 2024

Global Payroll Industry Statistics

The global payroll industry is projected to experience steady growth as organizations increasingly adopt automated payroll solutions for efficiency and compliance purposes.

Statistic 1

"As of 2019, the global payroll services market size was at $21.8 billion"

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Statistic 2

"The global payroll outsourcing market is projected to reach $32.8 billion by 2027."

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Statistic 3

"Asia-Pacific is expected to register the highest CAGR of 10.4% from 2020 to 2027 in the global payroll & HR services market."

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Statistic 4

"North America holds the largest share in the global payroll & HR services market."

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Statistic 5

"47% of businesses say that they feel less in control when their payroll is outsourced."

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Statistic 6

"8 of 10 payroll professionals consider updating their payroll system a priority."

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Statistic 7

"The market share of payroll services in the global cloud-based payroll software market is 43.4%."

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Statistic 8

"40% of small business owners say payroll and payroll taxes are the most worrisome part of owning a business."

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Statistic 9

"Large enterprises accounted for more than 35% of the overall market revenue of payroll services in 2019."

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Statistic 10

"The outsourcing of payroll functions is expected to grow by 5.3% annually from 2020 to 2027."

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Statistic 11

"North America's payroll outsourcing market is projected to reach $3.2 billion by 2027."

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Statistic 12

"Global Payroll practice within shared services has grown from 42% to 72% in the last five years."

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Statistic 13

"The use of mobile devices for payroll practices is currently at 17% globally."

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Statistic 14

"There is a 20% growth in the use of Advanced Analytics in Global payroll."

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