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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 | Aug 2014

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

IBISWorld’s Payroll & Bookkeeping Services market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$41bn
Annual Growth 09-14
3.2%
Annual Growth 14-19
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Profit
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Employment
539,044
Businesses
242,152
Industry Analysis & Industry Trends

The recession caused unemployment to rise, reducing client payrolls and causing more businesses to go bankrupt. In turn, this movement reduced the pool of clients that once required payroll and bookkeeping services. However, as the economy recovers in the five years to 2019, many businesses that brought payroll and bookkeeping in house will begin to outsource once again and focus on core competencies. The improving labor market will also boost demand for industry services... 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. In 2014, IBISWorld estimates that the four largest companies in the industry account for 28.0% of total industry revenue. Automatic Data Processing Inc. (ADP) is by far the largest player in the industry, accounting for 18.0% of industry revenue alone. ADP has enjoyed considerable success over the past five years because of its large market position, which has been consolidated over the past five years through a number of acquisitions... 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
Bookkeeping servicesCollecting payroll information and processingEmployer contributions and regulatory reportsPreparing special payroll reports
 
Industry Activities
Payroll servicesEmployee benefits administrationBookkeeping services


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