ADP, Trinet, Insperity, and CoAdvantage are among  the Market Leaders in the PEO market

Introduction

The professional employer organization (PEO) market was valued at USD 48.69 billion in 2019 and is expected to reach USD 140.29 billion by 2029, with a CAGR of 11.4% during the forecast period, 2020–2029. Increasing demand for HR outsourcing services, coupled with the rapid growth of SMEs and surging demand for cloud-based automated HR solutions to streamline business functions, drives market growth. On the contrary, data breaches, security concerns, and dependence on third party service providers hamper market growth

Key Highlights

• By Region, North America accounted for the largest market share of 41%, followed by Europe, Asia-Pacific, and South America, and the Middle East and Africa  
• The solution segment accounted for the lion’s share in 2019 and is expected to dominate the market throughout the forecast period
• The cloud segment accounted for more than half of the value share of about 55% in 2019  
• The SMEs segment accounted for the largest share of the pie in 2019
• The professional services segment accounted for the largest share of the pie in 2019

Competitive Players

Key Players

• Automatic Data Processing (ADP)
• Insperity
• TriNet Group, Inc
• Paychex Inc
• Total Leasing Company, Inc.
• CoAdvantage
• Ahead Inc
• GMS
• Alcott HR
• Total HR Solutions
• FrankCrum
• Premier Employer Services
• XcelHR
• Abel HR
• OneSource Business Solutions
• Pinnacle PEO
• Synergy HR
• Acadia HR
• Emplicity
• Fortune Industries, Inc
• Resource Management Inc
• Justworks

Recent Developments

Segmentation