Animal Testing And Non-Animal Alternative Testing Market Definition

Animal testing Animal testing or in-vivo testing is the use of living animals in scientific experiments to assess the safety and effectiveness of new products developed in the biopharma, medical devices, chemicals, food and other industries. Animal testing allows scientists to understand how the human body might react to specific substances. The study on animals is a vital part of the research because the basic cell process and physiology of animals is similar to that of humans. The animal testing market consists of the total expenses incurred by end-use entities that use animals for testing their products. End-use entities include academic research institutions and various industries (such as pharmaceuticals, medical devices, chemicals & pesticides and cosmetics,) that conduct animal testing during product development. Pharmaceutical and medical device companies also use animal testing to understand basic disease mechanisms. End-use entities may also outsource these tests to clinical research organizations (CROs). The animal testing market covered in this report includes sales of animal testing services by CROs to end use industries. Non-Animal Alternative Testing Non-animal alternative testing technologies include those technologies such as in-vitro cell and tissue cultures, organs-on-chips (OOCs), computer simulations, 3D bioprinting of tissues and synthetic skin substitutes. These technologies replace animal testing in end-use industries including pharmaceuticals, medical devices, chemicals and pesticides, food and others. The non-animal alternative testing market is the total expenses incurred by end-use entities that use alternative technologies instead of animals for testing their products. End-use entities include academic research institutions, and various industries (such as pharmaceuticals, medical devices, chemicals and pesticides and cosmetics) performing basic research, toxicology profiling, and others. The non-animal testing market covered in this report includes sales of non-animal testing services by CROs to end use industries. The market is inclusive of the costs of alternate technology tools and other operational costs involved in using these tools for various preclinical testing purposes. The market takes into account the testing performed in alternative technologies in a particular geography i.e., where the testing happens, irrespective of where the products (drug or chemicals) that need to be tested are produced.

Direct Mail Advertising Market Definition

Direct mail advertising is a type of direct marketing in which the mail is delivered physically to a prospect’s mailbox through postal services or other delivery services, as opposed to indirect marketing which uses broader messaging styles and targets a larger customer base. The direct mail advertising market includes revenues earned by entities by providing services such as creating and designing advertisement and promotional activities campaigns for the purpose of distributing advertising materials (e.g., coupons, flyers, samples) or specialties (e.g., keychains, magnets, pens with customized messages imprinted) by mail or other direct distribution.

Engineering Services Market Definition

The engineering services market refers to services an engineering company provides to other companies such as consultation and investigation, drafting and design, construction management and forensic engineering and expert witness testimony. Engineering services provides specialized consulting services to help clients bring products, process and technology to the market. The engineering services market consists of sales revenue earned by entities that provide knowledge of all the relevant codes and standards of engineering to companies in designing, developing and utilizing of machines, materials, instruments, structures, processes and systems. Engineering services include the technical application of engineering in product designing, innovations and others in industries such as building construction, mining, power and energy, transportation, manufacturing and others.

Bookkeeping and financial auditing refers to an accounting term used for recording, classifying and evaluation of finances data. The primary purpose of bookkeeping is mainly concerned with recording of day-to-day transactions, whereas financial auditing ensures that financial statements are accurate and in accordance with generally accepted accounting standards. The other accounting services involve financial statement preparation: reviews and compilations, income tax preparation and compliance, income tax planning and consulting, monthly, quarterly, and annual financial reporting statements, implementation of new accounting software packages, bill paying services and Business management. The main types of bookkeeping, financial auditing and other accounting services are tax preparation services, bookkeeping services and payroll services. Tax preparation services refer to a procedure that involves the professional preparation of tax returns for individuals or corporations. The various service providers are large enterprises, small and medium enterprises in a variety of industries including BFSI, government, manufacturing, healthcare, IT and telecom, and others. The global bookkeeping, financial auditing and other accounting services market is segmented - 1) By Type: Tax Preparation Services, Bookkeeping Services, Payroll Services 2) By Service Provider: Large Enterprise, Small And Medium Enterprise 3) By End User: Banking, Financial Services And Insurance (BFSI), Government, Manufacturing, Healthcare, IT And Telecom, Other End Users The global bookkeeping, financial auditing and other accounting services market size is expected to grow from $520.32 billion in 2022 to $542.17 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global bookkeeping, financial auditing and other accounting services market size is expected to reach $622.67 billion in 2027 at a CAGR of 3.5%. The regulatory reform in the financial sector is expected to propel the growth of the bookkeeping, financial auditing and other accounting services market going forward. Regulatory reform entails the province analyzing its regulations in-depth and completely to ascertain how to raise their standard and can create a more complex financial landscape that requires specialized knowledge and expertise, creating new opportunities for accounting firms to provide services to clients which give increased demand for compliance services, greater scrutiny of financial statements and others. For instance, In March 2023, the government of China implemented significant financial regulatory reform intending to establish a new regulatory entity, the National Financial Regulatory Administration, to replace the China Banking and Insurance Regulatory Commission. The reform focuses on four key areas such as improving the framework for financial stability; improving supervision and protecting consumer and investor interests; improving the functioning of capital markets; and restructuring the central bank's organization. Furthermore, in December 2022, the British government unveiled a comprehensive financial regulation reform package aimed at revamping "EU regulations." The Edinburgh Reforms include 30 measures, including changes to key regulations enacted in the aftermath of the 2008 financial crisis. The new laws are revisions to the "ringfencing" regime, which requires banks to keep their investment banks separate from their consumer's arms. Therefore, the regulatory reforms in the financial sector are driving the growth of the bookkeeping, financial auditing and other accounting services market going forward. Major players in the bookkeeping, financial auditing and other accounting services market are Deloitte Touche Tohmatsu Limited, KPMG International, PricewaterhouseCoopers (PwC), Grant Thornton International Ltd., Ernst & Young Pvt Ltd, RSM International Association, Moore Stephens International Limited (Moore Global), Mazars, BDO global, Nexia International Limited, Bharat LLP, Oracle Corporation, Richards Financial Services Inc, SAP SE, Xero Limited, Intuit Inc, AcuityCFO LLC, Bookkeeper360, and AcctTwo Shared Services. Technological developments are a key trend gaining popularity in the bookkeeping, financial auditing and other accounting services market. Major companies operating in the bookkeeping, financial auditing and other accounting services market are developing advance technologies to sustain their position in the market. For instance, in June 2021, SAP Concur, a US-based SaaS company, unveiled Verify, a new intelligent expense auditing tool. Verify conducts automated evaluations of expense reports to identify potential issues and anomalies based on employer spend regulations. Verify uses data analysis from tens of millions of expenses and receipts within the SAP Concur platform to apply a library of AI and ML detection scenarios to find probable spend concerns. In January 2021, BDO LLP, a Belgian-based network of public accounting, tax, consulting and the business advisory firm acquired MBAF LLC for an undisclosed amount. With this acquisition, BDO LLP will primarily increase its non-public auditing presence to become the largest accounting and consulting firm in Florida. MBAF LLC is a US-based accounting firm specializing in accounting & financial reporting services. North America was the largest region in the bookkeeping, financial auditing and other accounting services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global bookkeeping, financial auditing and other accounting services market report during the forecast period. The regions covered in the global bookkeeping, financial auditing and other accounting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the bookkeeping, financial auditing and other accounting services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The bookkeeping, financial auditing and other accounting services market includes revenues earned by entities by providing employee benefit plan audits, service organization control (soc) audits, financial statement audits, and due diligence services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The bookkeeping, financial auditing and other accounting services market research report is one of a series of new reports from The Business Research Company that provides bookkeeping, financial auditing and other accounting services market statistics, including bookkeeping, financial auditing and other accounting services industry global market size, regional shares, competitors with a bookkeeping, financial auditing and other accounting services market share, detailed bookkeeping, financial auditing and other accounting services market segments, market trends and opportunities, and any further data you may need to thrive in the bookkeeping, financial auditing and other accounting services industry. This bookkeeping, financial auditing and other accounting services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Primary school refers to an institute where children gain the fundamental skills necessary to prepare them for life, employment, and active citizenship. It also comprises the first year of formal school, which may encompass kindergarten in certain nations or the first grade in others. It offers academic courses and related coursework to elementary school students (kindergarten through fifth grade). The main primary school types are public, private, and online. Public refers to the very few institutions that teach secondary-level students for a fee while being financially and administratively separate from the public system. The various deployment modes are cloud, and on premise and the various fee structure are low-income, medium-income, and high-income. The global primary school market is segmented - 1) By Type: Public, Private, Online 2) By Deployment Mode: Cloud, On-Premise 3) By Fee Structure: Low-Income, Medium-Income, High-Income The global primary school market size is expected to grow from $657.72 billion in 2022 to $721.22 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global primary school market size is expected to reach $1,029.23 billion in 2027 at a CAGR of 9.3%. Growing literacy rates are expected to propel the primary school market going forward. The literacy rate refers to the percentage of a community that is literate in both reading and writing. The literacy rate suggests the existence of an effective primary education system, so an increase in literacy will propel market growth. For instance, in September 2022, according to the United Nations Educational, Scientific, and Cultural Organisation, a French-based specialized agency promoting world peace and security, there were 771 million illiterate people around the world in 2020, and the global literacy rate increased to 86.68% in 2020. Therefore, the growing literacy rate is driving the primary school market. Major players in the primary school market are Pearson PLC, Cengage Learning India Pvt Ltd., Stride Inc., Blackboard Inc., Tata Class Edge, D2L Corporation, NextEducation India Pvt Ltd., TAL Education Group, Hailiang Education Group, Bright Horizons, Whitehill Primary School, Briar Hill Primary School, Gascoigne Primary School, Deanshanger Primary School, and William Davies Primary School. Technological advancement is a key trend gaining popularity in the primary school market. Major companies operating in the primary school market are focused on developing new technological solutions to strengthen their position. For instance, in May 2022, Tata Class Edge, an India-based company and the Furtados School of Music, an India-based music company, partnered to provide the best educational experience to schools via the use of technology and music. By combining it with the expertise and resources of TATA Class Edge in the K–12 educational industry, Furtados School of Music has chosen to increase the accessibility of this music teaching technique. In November 2021, McGraw Hill, a US-based educational publishing company, acquired Achieve3000 for an undisclosed amount. The acquisition is subjected to the combination of Achieve3000's supplemental and intervention solutions with McGraw-Hill's broad range of PreK–12 products, which can benefit students of all ages and skill levels. It enables McGraw-Hill to provide a more extensive selection of excellent digital learning tools that aid teachers, engage students, and improve learning results. Achieve3000, is a US-based company that offers mainstream kids in school options for diversified education that is delivered online. Asia-Pacific was the largest region in the primary school market in 2021 and is expected to be the fastest-growing region in the global primary school market report during the forecast period. The regions covered in the global primary school market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the primary school market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The primary school market consists of revenues earned by entities by providing education in junior school, elementary school, or grade school. The market value includes the value of related goods sold by the service provider or included within the service offering. The primary school market also includes sales of tablet and laptop which are used in providing educational services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The primary school market research report is one of a series of new reports from The Business Research Company that provides primary school market statistics, including primary school industry global market size, regional shares, competitors with a primary school market share, detailed primary school market segments, market trends and opportunities, and any further data you may need to thrive in the primary school industry. This primary school market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Operations advisory refers to the process of enhancing the effectiveness of the entire value chain by creating and putting into practice goal operational and service delivery models, carrying out cost-cutting initiatives, and streamlining business procedures. The main operations advisory product types are financial advisory, technology advisory, strategy advisory, HR (human resource) advisory, and manufacturing. Financial advisory refers to a group of knowledgeable experts who offer guidance on effective money and asset management. Financial advisory is used in operations advisory for managing working capital. The various enterprise size are large enterprises, and small and medium enterprises that are segmented into aerospace and defense, BFSI (banking, financial services, and insurance), healthcare, IT (information technology) and telecom, construction and mining, automotive, entertainment and media, chemicals and materials, consumer goods, durables, and retail, semiconductor and electronics manufacturing, and others. The global operations advisory market is segmented - 1) By Product Type: Financial Advisory, Technology Advisory, Strategy Advisory, HR Advisory, Manufacturing 2) By Size: Large Enterprises, Small And Medium Enterprises 3) By Vertical: Aerospace And Defense, BFSI (Banking, Financial Services, And Insurance), Healthcare, IT (Information Technology) And Telecom, Construction And Mining, Automotive, Entertainment And Media, Chemicals And Materials, Consumer Goods, Durables, And Retail, Semiconductor And Electronics Manufacturing: Other Verticals The global operations advisory market size is expected to grow from $270.99 billion in 2022 to $281.92 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global operations advisory market size is expected to reach $316.00 billion in 2027 at a CAGR of 2.9%. The increased number of startups is significantly contributing to the growth of the operations advisory market going forward. Startups refer to an early-stage entrepreneurial initiative that is often developed to address problems in the actual world. Operations advisory is employed by startups to gain assistance in developing a business structure that can cope with the growth of the company and adapt to various market situations. For instance, according to the US Small Business Administration, a US-based agency of the United States government that provides support to entrepreneurs and small businesses, there were 33.2 million startups in the USA in 2022, which increased by 700,000 compared to 2021. Therefore, an increased number of startups will drive the operations advisory market. Major players in the operations advisory market are Accenture Plc., Deloitte Touche Tohmatsu Limited, KPMG International, McKinsey & Company, Boston Consulting Group, Bain & Company Inc., AT Kearney, Ernst & Young Ltd., PricewaterhouseCoopers, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, OCG Consultancy, Riveron Consultancy, Oliver Wyman Inc., Marsh & McLennan Companies Inc., and Willis Towers Watson Public Limited. Technological advancements are the key trend gaining popularity in the operations advisory market. Major companies operating in the operations advisory market are focusing on integrating technology with operations advisory practices to gain a competitive edge in the market. For instance, in March 2023, FTI Consulting, a US-based management consulting company that also provides operations advisory services partnered with NetDocuments, a US-based cloud document, email, and records management service provider to launch a technology platform to provide clients with more flexible and integrated native cloud-based solutions for core legal department functions, such as document and content management. Every stage of the legal operations journey, from assessment and recommendation through implementation and measurement, is covered by the firm's advising, services, and technology capabilities. In October 2020, Accenture, an Ireland-based consulting firm acquired Myrtle Consulting Group for an undisclosed amount. The acquisition helps Accenture to expand its manufacturing and supply chain operations advisory capabilities. Myrtle Consulting Group is a US-based industrial operations advisory firm that helps organizations improve operational performance. North America was the largest region in the strategy advisory market in 2022. Western Europe was the global strategy advisory market report second-largest region in the strategy advisory market. The regions covered in the global strategy advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the operations advisory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The operations advisory market includes revenues earned by entities by providing advisory and assistance such as legal operations advisory and technical advisory for improving the operational performances of various companies. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The operations advisory market research report is one of a series of new reports from The Business Research Company that provides operations advisory market statistics, including operations advisory industry global market size, regional shares, competitors with an operations advisory market share, detailed operations advisory market segments, market trends and opportunities, and any further data you may need to thrive in the operations advisory industry. The operations advisory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Financial advisory refers to providing financial advice or assistance to a client in exchange for payment. Financial advisors provide a wide range of financial advisory services, including estate planning, tax preparation, and investment management. Its main purpose to aid people or organization in creating long-term strategies for building wealth and managing risk. The main types of financial advisory services are corporate finance, accounting advisory, tax advisory, transaction services, risk management, and others, which are provided to large enterprises as well as small and medium-sized enterprises. Corporate finance advisory refers to expert direction, support, counsel, and solutions with regard to significant financial activities. These services are used by several industry verticals, such as BFSI, IT and telecom, manufacturing, retail and e-commerce, the public sector, healthcare, and others. The global financial advisory market is segmented - 1) By Type: Corporate Finance, Accounting Advisory, Tax Advisory, Transaction Services, Risk Management, Other Types 2) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises 3) By Industry Vertical: Banking, Financial Services and Insurance (BFSI), IT And Telecom, Manufacturing, Retail And E-Commerce, Public Sector, Healthcare, Other Industry Verticals The global financial advisory market size is expected to grow from $198.09 billion in 2022 to $207.14 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global financial advisory market size is expected to reach $239.55 billion in 2027 at a CAGR of 3.7%. The rise in high-net-worth individuals (HNWI) is expected to propel the growth of the financial advisory market going forward. A person with liquid assets of at least USD 1 million is considered a high-net-worth individual (HNWI). The people with high HNWI frequently use the help of financial advisors to manage their high net worth for additional advantages and opportunities. For instance, in December 2022, according to the World Wealth Report 2022 shared by Capgemini, a France-based information technology company, in 2021, the number of HNWIs worldwide increased by 7.8% to $22459 billion in 2021 from $20838 billion 2020. Additionally, in 2021, North America will maintain its commanding lead in HNWI population growth (13.2%) and wealth (13.8%). Therefore, the rise in high-net-worth individuals (HNWI) is driving the growth of the financial advisory market. Major players in the financial advisory market are Boston Consulting Group, Deloitte Touche Tohmatsu Ltd., KPMG International Cooperative, McKinsey & Company, PricewaterhouseCoopers International Limited (PwCIL), Bank of America Corporation, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, Accenture PLC, Booz Allen Hamilton, Ernst & Young Global Limited, Oliver Wyman, Wells Fargo & Co, Protiviti Consulting Pvt. Ltd., Alvarez & Marsal, and Mercer. Technological innovations are a key trend gaining popularity in the financial advisory market. Major companies operating in the financial advisory market are adopting new technologies to sustain their position in the market. For instance, in March 2022, SRG Financial Advisors, a US-based holistic financial planning firm, launched the 'Mile Marker Digital Vault Technology' through its partnership with FutureVault, a Canada-based provider of secure document exchange and digital vault solutions. The SRG team is implementing a number of next-generation process and technology changes for their clients, with Marker Vault being the first. This technology aims to enhance clients' asset management and financial planning experiences while streamlining operations so they can concentrate on what matters most to them. FuturVault provides SRG Financial Advisors and its clients with a secure, shared platform to more efficiently manage information and documents, which will significantly streamline interactions between the two parties. In April 2022, Goldman Sachs, a US-based investment banking company, acquired NN Investment Partners for approximately $1.9 billion. The goal of this acquisition is to strengthen Goldman's capacity for sustainable investment and broaden its asset management presence in Europe. NN Investment Partners is a Netherlands-based asset management company that provides financial advisory services. Asia-Pacific was the largest region in the financial advisory market in 2022. The regions covered in the global financial advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the financial advisory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The financial advisory market includes revenues earned by entities by providing financial operations services including accounts outsourcing, payroll services, and fund management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The financial advisory market research report is one of a series of new reports from The Business Research Company that provides financial advisory market statistics, including financial advisory industry global market size, regional shares, competitors with a financial advisory market share, detailed financial advisory market segments, market trends and opportunities, and any further data you may need to thrive in the financial advisory industry. This financial advisory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Payroll Services are third-party companies that assist businesses with payroll and HR functions using software and automated solutions. It makes operations related to correct and schedule payment easier, employee time and attendance, workers' compensation, payroll taxes, and direct deposit information. The main types of payroll services are payroll and bookkeeping services, tax preparation services, and other accounting services, which are used in small businesses, medium-sized businesses, and large businesses. Payroll and bookkeeping services refer to the processes for paying and managing award rates to staff and the day-to-day management of the company's finances. These are used in several industry verticals, including BFSI, consumer and industrial products, IT and telecommunications, the public sector, healthcare, and others. The global payroll services market is segmented - 1) By Type: Payroll And Bookkeeping Services, Tax Preparation Services, Other Accounting Services 2) By Business Size: Small Business, Medium Business, Large Business 3) By Industry Vertical: Banking, Financial Services and Insurance (BFSI), Consumer and Industrial Products, IT and Telecommunication, Public Sector, Healthcare, Other Industry Verticals The global payroll services market size is expected to grow from $72.14 billion in 2022 to $74.29 billion in 2023 at a compound annual growth rate (CAGR) of 3.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global payroll services market size is expected to reach $80.66 billion in 2027 at a CAGR of 2.1%. The increasing proliferation of mobile devices and the internet is expected to propel the growth of the payroll services market going forward. A mobile device refers to a compact, hand-held gadget that can make calls and contains a touch-screen display and other features. The majority of companies are introducing payroll apps to provide ease of use, unrivaled convenience, and the ability to increase employee engagement and business productivity. Thus, increasing penetration of mobile and internet will allow the users to access the payroll from anywhere. For instance, according to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). Furthermore, in November 2022, according to International Telecommunication Union, a US-based specialized agency, individuals using the Internet worldwide reached to 5.3 billion in 2022 from 4.9 billion in 2021. Therefore, the increasing proliferation of mobile devices and the internet are driving the payroll services market. Major players in the payroll services market are PricewaterhouseCoopers (PwC), Ernst and Young Global Limited, Deloitte Touche Tohmatsu, KPMG International Limited, BDO International Inc., Grant Thornton LLP, Sage Group Plc, OnPay Inc., Workday Inc., Alight Solutions Inc., Infosys BPM, Automatic Data Processing Inc., Gusto Inc., Paycom Software Inc., Paychex Inc., and Namely. Technological advancements are a key trend gaining popularity in the payroll services market. Companies operating in the payroll services market are adopting new technologies to sustain their position in the market. For instance, in December 2021, HiBob, a Germany-based modern HR technology company, launched Payroll Hub, a central dashboard on the Bob platform that automatically changes the payroll information for businesses. The Payroll Hub allows managers to ensure that all data is accurate for upcoming pay cycles, saving time and lowering the risk of error. It integrates seamlessly with top payroll providers, including ADP Workforce Today, CloudPay, TriNet, Paylocity, and more. Payroll Hub supports both single-cycle and multi-cycle schedules to meet the unique demands of midsized businesses. In November 2022, Deel, a US-based privately held payroll and compliance provider, acquired PayGroup Limited for approximately $80 million. This transaction extends Deel's clientele in the Asia-Pacific region, strengthens its position as a leader in the worldwide payroll industry, and scales its payroll and HCM capabilities. PayGroup is an Australia-based provider of payroll and human capital management (HCM) solutions. Asia-Pacific was the largest region in the payroll services market in 2022. The regions covered in the global payroll services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the payroll services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The payroll services market includes revenues earned by providing time tracking integration, expense management, payroll reports, tax filing, and more. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The payroll services market research report is one of a series of new reports from The Business Research Company that provides payroll services market statistics, including payroll services industry global market size, regional shares, competitors with a payroll services market share, detailed payroll services market segments, market trends and opportunities, and any further data you may need to thrive in the payroll services industry. This payroll services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.