Global Cloud-based Payroll Software Market 2017-2021

  • ID: 4411426
  • Report
  • Region: Global
  • 84 pages
  • TechNavio
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About Cloud-based Payroll Software

Payroll software automates, organizes, and simplifies complex compensation planning and enables managers to improve budget allocations, increase accuracy, and align compensation decisions with organizational guidelines. Enterprises are implementing payroll software to make better compensation decisions while reducing cycle times with up-to-date, accurate, and auditable processes. Cloud-based payroll software is being installed by companies as it is economical and improves the efficiency of the compensation and review processes.

The growing acceptance of cloud-based payroll software can be attributed to its advantages over the traditional payroll process. Cloud-based payroll software enables organizations to access data and services remotely through a web-browser without installing and managing application software. Cloud-based payroll software also provides flexibility in the deployment and has a short implementation time. This reduces implementation cost and improves the return on investment. One of the main benefits of cloud-based payroll software is the ability to access it from anywhere.

The analysts forecast the global cloud-based payroll software market to grow at a CAGR of 12.09% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global cloud-based payroll software market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of cloud-based payroll software subscription, maintenance and support, installation, customization, and training.

The market is divided into the following segments based on geography:
  • Americas
  • APAC
  • EMEA
The report, Global Cloud-based Payroll Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ADP
  • CoreHR
  • Oracle
  • Paychex
  • SAP Success Factors
  • Ultimate Software
  • Workday
Other prominent vendors
  • Aditro
  • Advanced
  • Affinity
  • Ascentis
  • BenefitMall
  • beqom
  • Ceridian HCM
  • CloudPay
  • Datacom Group
  • Execupay
  • Gusto
  • iAdmin
  • IRIS Software Group
  • Paycom
  • Payroo
  • Sage (UK)
  • SmartPayroll Australia Pty
Market drivers
  • Reduction in TCO
  • For a full, detailed list, view the full report
Market challenges
  • Concerns regarding data security
  • For a full, detailed list, view the full report
Market trends
  • Rising demand for integrated HCM solutions
  • For a full, detailed list, view the full report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
You can request one free hour of the analyst’s time when you purchase this market report. Details are provided within the report.
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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: INTRODUCTION
  • Market outline
PART 05: MARKET LANDSCAPE
  • Market overview
  • Market size and forecast
  • Market assumptions
  • Five forces analysis
PART 06: MARKET SEGMENTATION BY END-USER
  • Global cloud-based payroll software market by end-user
  • Global cloud-based payroll software market by large enterprises
  • Global cloud-based payroll software market by SMEs
PART 07: REGIONAL LANDSCAPE
  • Geographical segmentation
  • Regional comparison
  • Americas - market size & forecast
  • EMEA - market size & forecast
  • APAC - market size & forecast
  • Key leading countries
  • Market opportunity
PART 08: DECISION FRAMEWORK

PART 09: DRIVERS AND CHALLENGES
  • Market drivers
  • Market challenges
PART 10: MARKET TRENDS
  • Rising demand for integrated HCM solutions
  • Increasing accessibility to mobile applications
  • Increasing adoption of digital HR technology
PART 11: VENDOR LANDSCAPE
  • Competitive scenario
  • Comparison of vendors based on parameters
  • Other prominent vendors
PART 12: KEY VENDOR PROFILES
  • ADP
  • CoreHR
  • Oracle
  • Paychex
  • SAP Success Factors
  • Ultimate Software
  • Workday
PART 13: MERGERS AND ACQUISITIONS
  • M&A in the market
PART 14: APPENDIX
  • List of abbreviations
List of Exhibits
Exhibit 01: Global cloud-based payroll software market: Overview
Exhibit 02: Global cloud-based payroll software market 2016-2021 ($ billions)
Exhibit 03: Market assumptions
Exhibit 04: Five forces analysis
Exhibit 05: Global cloud-based payroll software market by end-users 2016 (% share of revenue)
Exhibit 06: Global cloud-based payroll software market by end-users 2021 (% share of revenue)
Exhibit 07: Global cloud-based payroll software market by large enterprises 2016-2021 ($ billions)
Exhibit 08: Global cloud-based payroll software market by SMEs 2016-2021 ($ billions)
Exhibit 09: Global cloud-based payroll software market by geography 2016-2021 (% share of revenue)
Exhibit 10: Regional comparison
Exhibit 11: Americas - market size & forecast
Exhibit 12: Americas - Year-over-year growth
Exhibit 13: Top 3 countries in Americas
Exhibit 14: EMEA - market size & forecast
Exhibit 15: EMEA - Year-over-year growth
Exhibit 16: Top 3 countries in EMEA
Exhibit 17: APAC - market size & forecast
Exhibit 18: APAC - Year-over-year growth
Exhibit 19: Top 3 countries in APAC
Exhibit 20: Key leading countries
Exhibit 21: Open-source payroll software
Exhibit 22: Key vendors in the global cloud-based payroll software in 2016
Exhibit 23: Competitive factors among vendors in market
Exhibit 24: Comparison of vendors based on parameters
Exhibit 25: Other prominent vendors
Exhibit 26: M&A in the global cloud-based payroll software market
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FEATURED COMPANIES

  • Aditro
  • Affinity
  • beqom
  • CoreHR
  • Gusto
  • Oracle
  • MORE
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

New Report Released: - Global Cloud-based Payroll Software Market 2017-2021

The author of the report recognizes the following companies as the key players in the global cloud-based payroll software market: ADP, CoreHR, Oracle, Paychex, SAP Success Factors, Ultimate Software, and Workday

Other Prominent Vendors in the market are: Aditro, Advanced, Affinity, Ascentis, BenefitMall, beqom, Ceridian HCM, CloudPay, Datacom Group, Execupay, Gusto, iAdmin, IRIS Software Group, Paycom, Payroo, Sage (UK), and SmartPayroll Australia Pty.

Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is Rising demand for integrated HCM solutions. End-users prefer vendors that provide integrated and converged software suites as opting for different software may lead to integration issues. Integrated products and software suites from the same vendor have better integration ability and support other functions.

As the increased complexity of network infrastructure has made integration an important buying criterion, solutions with better integration are finding higher adoption. Witnessing this demand, all major vendors are providing software suites with features such as talent management, payroll planning, recruitment, performance management and appraisal, and workforce management. Integrated HCM software enables enterprises to manage its workforce in a comprehensive way, which, in turn, enables HR to take a more strategic decision in the company.”

According to the report, one of the major drivers for this market is Reduction in TCO. For traditional on-site security software, TCO includes a high upfront software license cost and software implementation cost coupled with a high maintenance cost. In the case of cloud, cloud vendors are responsible for the implementation, maintenance, updates, and backup of software, thereby reducing the need for internal IT administration. In addition, the pricing model of cloud-based payroll software is based on the pay-per-use model, where customers pay according to their use of the services, as opposed to a traditional on-site model that requires a one-time substantial capital investment and ongoing operational costs.

Further, the report states that one of the major factors hindering the growth of this market is Concerns regarding data security. Vendors in the global cloud-based payroll software market are handling very sensitive information of employees, and enterprises are concerned about their data getting into the wrong hands. Cloud-based payroll software vendors act as third-party vendors and manage enterprise-wide data. This is often a point of concern for managers and decision makers as data security and privacy are the greatest concerns for many organizations.

The leakage of sensitive client data by cloud-based payroll software vendors may negatively affect the growth of the market. Data hosted in the cloud is sometimes perceived to be more vulnerable to hacker attacks than data residing behind the firewall. Hence, it is very important for cloud-based payroll software vendors to provide reliable security solutions for storing and managing confidential end-user data.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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  • ADP
  • CoreHR
  • Oracle
  • Paychex
  • SAP Success Factors
  • Ultimate Software
  • Workday
  • Aditro
  • Advanced
  • Affinity
  • Ascentis
  • BenefitMall
  • beqom
  • Ceridian HCM
  • CloudPay
  • Datacom Group
  • Execupay
  • Gusto
  • iAdmin
  • IRIS Software Group
  • Paycom
  • Payroo
  • Sage (UK)
  • SmartPayroll Australia Pty
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