Payroll & Bookkeeping Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Payroll & Bookkeeping Services Market Research Report | NAICS 54121b | Mar 2016

Base value: The improving labor market will boost demand for industry services

IBISWorld’s Payroll & Bookkeeping Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Annual Growth 11-16
Annual Growth 16-21
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Industry Analysis & Industry Trends

Over the past five years, the industry has performed strongly as a large reduction in unemployment boosted industry revenue, as well as strong business conditions. In addition, the industry has benefited from the advancement of online and computer payroll and bookkeeping services, with new cloud-based offerings providing a new revenue stream for operators, and attracting new customers. Moving forward, increasing product penetration and an expanding customer base is expected to drive industry growth... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Payroll and Bookkeeping industry is characterized by a low level of market share concentration. There are a large number of small companies in the industry that provide payroll and bookkeeping services for small firms. This includes a large number of nonemploying businesses that operate as sole proprietors or partnerships, estimated at close to 85.0% of enterprises. Yet these sole operators only account for less than 10.0% of industry revenue.

In 2016, IBISWorld estimates that the four largest companies in the industry account for close to 15.0% of total industry revenue. Automatic Data Processing Inc. (ADP) is by far the largest player in the industry, accounting for close to 10.0% of industry revenue alone... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Payroll & Bookkeeping Services Industry?

Operators in this industry provide outsourced payroll services for clients' employees and basic bookkeeping services are also included. However, this industry does not include tax preparation companies or certified public accountants.

Industry Products
Full-service payroll servicesPayroll services sold separatelyBilling servicesBookkeeping and compilation servicesGeneral accounting servicesTax planning and consulting servicesTax preparation and representation servicesOther services
Industry Activities
Payroll servicesBilling servicesBookkeeping servicesGeneral accounting servicesTax services

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