Global cloud based payroll software market expected to generate around USD 13,374 million by 2026, at a CAGR of around 6.8% between 2019 and 2026. The introduction of cloud solutions in the payroll and HR domain is making revolutionary changes in services, for both the employees and employers.
The report covers a forecast and an analysis of the cloud based payroll software market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on revenue (USD Million). The study includes drivers and restraints of the cloud based payroll software market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cloud based payroll software market on a global level.
In order to give the users of this report a comprehensive view of the cloud based payroll software market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.
The study provides a decisive view of the cloud based payroll software market based on product, organization size, application, and region. By product, the market includes free and open-source software and subscription-based software. By organization size, the market includes small- and medium-sized enterprises and large enterprises. By application, the market includes government, banking, financial services, and insurance, IT, education, defense, and others. The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some key players of the global cloud based payroll software market are Paycor, Inc., Paychex, Inc., Personnel Data Systems, Inc., Criterion, Inc., Sage Group, Lucerna, Accentra Technologies Limited, Workday, Inc., The Ultimate Software Group, Inc., Oracle Corporation, Zenefits Software, SAP Success Factors, Ascentis HR Software, FinancialForce Software, Kronos Software, IRIS Software Group, Ltd. and ADP.
This report segments the global cloud based payroll software market into:
Global Cloud Based Payroll Software Market: Product Type Analysis
Global Cloud Based Payroll Software Market: Organization Size Analysis
Global Cloud Based Payroll Software Market: Application Analysis
Global Cloud Based Payroll Software Market: Regional Analysis
List of Figures
1. Market research process
2. Market research methodology
3. Global Cloud Based Payroll Software Market revenue, 2018–2026 (USD Million)
4. Porter’s Five Forces Analysis
5. Cloud Based Payroll Software Market attractiveness analysis, by product
6. Cloud Based Payroll Software Market attractiveness analysis, by organization size
7. Cloud Based Payroll Software Market attractiveness analysis, by application
8. Cloud Based Payroll Software Market: market attractiveness analysis, by region
9. Company market share analysis, 2018
10. Global Cloud Based Payroll Software Market revenue share by product, 2018 and 2026
11. Global Cloud Based Payroll Software Market revenue share by Free and Open-source Software, 2018 and 2026
12. Global Cloud Based Payroll Software Market revenue share by Subscription-based Software, 2018 and 2026
13. Global Cloud Based Payroll Software Market revenue share by organization size, 2018 and 2026
14. Global Cloud Based Payroll Software Market for Small- and Medium-Sized Enterprises revenue share, 2018 and 2026
15. Global Cloud Based Payroll Software Market for Large Enterprises revenue share, 2018 and 2026
16. Global Cloud Based Payroll Software Market revenue share by application, 2018 and 2026
17. Global Cloud Based Payroll Software Market revenue share by Government, 2018 and 2026
18. Global Cloud Based Payroll Software Market revenue share by Banking, Financial Services, and Insurance, 2018 and 2026
19. Global Cloud Based Payroll Software Market revenue share by IT, 2018 and 2026
20. Global Cloud Based Payroll Software Market revenue share by Education, 2018 and 2026
21. Global Cloud Based Payroll Software Market revenue share by Defense, 2018 and 2026
22. Global Cloud Based Payroll Software Market revenue share by Others, 2018 and 2026
List of Tables
1. Cloud Based Payroll Software Market: Market Snapshot
2. Drivers of global Cloud Based Payroll Software Market: impact analysis
3. Restraints of global Cloud Based Payroll Software Market: impact analysis
4. North America Cloud Based Payroll Software Market revenue, by product type, 2018–2026 (USD Million)
5. North America Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
6. North America Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
7. The U.S. Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
8. The U.S. Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
9. The U.S. Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
10. Rest of North America Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
11. Rest of North America Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
12. Rest of North America Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
13. Europe Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
14. Europe Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
15. Europe Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
16. U.K. Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
17. U.K. Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
18. U.K. Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
19. Germany Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
20. Germany Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
21. Germany Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
22. France Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
23. France Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
24. France Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
25. Italy Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
26. Italy Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
27. Italy Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
28. Spain Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
29. Spain Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
30. Spain Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
31. Rest of Europe Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
32. Rest of Europe Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
33. Rest of Europe Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
34. Asia Pacific Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
35. Asia Pacific Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
36. Asia Pacific Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
37. China Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
38. China Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
39. China Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
40. Japan Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
41. Japan Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
42. Japan Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
43. India Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
44. India Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
45. India Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
46. Southeast Asia Cloud Based Payroll Software Market revenue, by product type, 2018–2026 (USD Million)
47. Southeast Asia Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
48. Southeast Asia Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
49. Rest of Asia Pacific Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
50. Rest of Asia Pacific Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
51. Rest of Asia Pacific Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
52. Latin America Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
53. Latin America Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
54. Latin America Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
55. Brazil Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
56. Brazil Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
57. Brazil Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
58. Rest of Latin America Cloud Based Payroll Software Market revenue, by product type, 2018–2026 (USD Million)
59. Rest of Latin America Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
60. Rest of Latin America Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
61. The Middle East and Africa Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
62. The Middle East and Africa Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
63. The Middle East and Africa Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
64. GCC Countries Cloud Based Payroll Software Market revenue, by product type, 2018–2026 (USD Million)
65. GCC Countries Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
66. GCC Countries Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
67. South Africa Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
68. South Africa Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
69. South Africa Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
70. Rest of the Middle East and Africa Cloud Based Payroll Software Market revenue, by product, 2018–2026 (USD Million)
71. Rest of the Middle East and Africa Cloud Based Payroll Software Market revenue, by organization size, 2018–2026 (USD Million)
72. Rest of the Middle East and Africa Cloud Based Payroll Software Market revenue, by application, 2018–2026 (USD Million)
Cloud based payroll software helps in automation, organization, and simplification of complex payment design and allows improving budget distributions, with upsurge accuracy and aligns payment decisions based on administrative guidelines. The introduction of cloud solutions in the payroll and HR domain is making revolutionary changes in services, for both the employees and employers. These new services are boosting the productivity and efficacy of organizations and giving employees better control of information.
Enterprises are executing payroll software to obtain better understanding and compensation judgments while decreasing rotation times with precise, up-to-date, and auditable procedures. As the cloud-based payroll software offers improved and economic efficiency related to compensation and review processes, the cloud based payroll software market is expected to grow significantly over the forecast time period. Cloud-based solutions provide updates regarding the changes in law and inform users about the status of their compliances. These updates likewise enable businesses to make sound decisions. Moreover, manual and legacy payroll systems are known to limit information access to work and payroll-related data for managers and relevant users. However, all of this has changed as cloud-based payroll software allows companies to provide their employees access to required information.
The global cloud based payroll software market is segmented based on product, organization size, and application. By product, the market includes free and open-source software and subscription-based software. The free and open-source software segment is anticipated to show the highest CAGR in the future. By organization size, the cloud based payroll software market includes small- and medium-sized enterprises and large enterprises. By application, the market includes government, banking, financial services, and insurance, IT, education, defense, and others.
By region, North America held a dominant share of the global cloud based payroll software market in 2018 and is anticipated to continue its dominance over the forthcoming years as well. Available treatment options, high awareness regarding the cloud-based payroll software, and increasing adoption of advanced digital methods to smoothen the workflow will drive the North American market over the forecast time period. Europe is estimated to hold the second largest share of the global cloud based payroll software market in the future. The Asia Pacific region cloud based payroll software market is expected to show the highest CAGR in the future, owing to rising investments and focus in healthcare data management, increasing awareness about cloud-based payroll software, escalating research and development expenditure, and growing penetration of medium- and small-scale industrial base across the region.
Some key players of the global cloud based payroll software market are Paycor, Inc., Paychex, Inc., Personnel Data Systems, Inc., Criterion, Inc., Sage Group, Lucerna, Accentra Technologies Limited, Workday, Inc., The Ultimate Software Group, Inc., Oracle Corporation, Zenefits Software, SAP Success Factors, Ascentis HR Software, FinancialForce Software, Kronos Software, IRIS Software Group, Ltd. and ADP.
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