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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 | Jul 2015

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
$64bn
Annual Growth 10-15
3.4%
Annual Growth 15-20
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Profit
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Employment
951,958
Businesses
294,118
Industry Analysis & Industry Trends

The recession caused unemployment to rise, reducing client payrolls and causing more businesses to go bankrupt. This movement reduced the pool of clients that once required payroll and bookkeeping services. However, as the economy recovers in the five years to 2020, 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 2015, IBISWorld estimates that the four largest companies in the industry account for 18.7% of total industry revenue. Automatic Data Processing Inc. (ADP) is by far the largest player in the industry, accounting for over 10.0% 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
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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