HR & Payroll Software in the US - Industry Market Research Report

Pay raise: A rise in administrative work resulting from a volatile labor market will likely increase industry demand

The HR and Payroll Software industry provides human resources, payroll and recruitment software for businesses. The industry generates revenue by publishing new software, software license updates and collecting subscription fees for online applications. Businesses use industry software to streamline administration processes and collate data, while reducing the risk of litigation and other compliance issues. Users also use the software to control labor costs, minimize risk and manage personnel. In the past five years, industry revenue grew at a CAGR of 5.1% to $15.4 billion, including 4.1% in 2023 alone, when profit margins will grow to 14.9%.

This industry develops software for human resource (HR) and payroll management. This service is provided online or through proprietary software.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.