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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

IBISWorld’s Payroll & Bookkeeping Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 - Industry Analysis Chapter

The Payroll and Bookkeeping Services industry offers time-crunched managers and small business operators the opportunity to outsource administrative tasks such as payroll and bookkeeping, in order to better spend time growing their core businesses. As a result, the industry benefits from strong economic conditions, when businesses prefer to spend their time and money focusing on core business growth and prefer to outsource services. Similarly, the industry benefits in times of low unemployment and increased business activity, as new and existing businesses engage industry operators to manage their increasingly sizable workforces.

In the five years to 2016, the industry has performed very strongly, and is projected to grow at an average annual rate of 7.8% to $81.1 billion... 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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