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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

The Payroll & Bookkeeping Services market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$81bn
Annual Growth 11-16
7.8%
Annual Growth 16-21
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Profit
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Employment
929,849
Businesses
285,212
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 - Starting a New Business Chapter

Barriers to entry are low for the Payroll and Bookkeeping Services industry. It is relatively easy for small players to enter the industry and set up operations providing payroll, bookkeeping and certain employee benefits administration services. There are few capital requirements needed to begin operations and many small firms exist that service only local markets. Regulatory requirements provide the single largest barrier to entry as firms are required to have extensive understanding of taxation and employee relation laws to operate. Furthermore, industry operators are subject to privacy, data-security and anti-money laundering laws... 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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