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