Cloud-based Payroll Software Market Size with Analysis of Leading Market Players, Industry Forecast (2017-2023)

The global cloud-based payroll software market was valued at $6,738 million in 2016, and is projected to reach at $10,336 million by 2023, growing at a CAGR of 6.5% from 2017 to 2023. In 2016, the large enterprises segment accounted for the highest revenue share of the overall market. Large enterprises are major revenue contributors. Rise in number of employees and usage of employee data in large enterprises drive the global market for cloud-based payroll software. Further, there is an increasing demand for security in large enterprises to protect enterprise data against potential threats related to critical data storage.

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Secured cloud backup of employee data, ease of system enhancements & updates, and benefits over on-premise solutions drive the global cloud-based payroll software market. However, regulatory compliances and synchronizing domestic HR processes with global HR standards restricts the cloud-based payroll software market growth to a certain extent.

North America dominated the global market in 2016, and is expected to remain dominant during the forecast period. Moreover, the North American vendors are expanding in the emerging countries, such as Brazil, Chile, Argentina, and others. However, Asia-Pacific is expected to grow at the highest CAGR, owing to increase in number of SMEs seeking cost-effective solutions for payroll.

The other industries segment led the global market in 2016, and is projected to maintain its dominance during the forecast period. However, the retail industry is expected to witness the highest growth rate of 8.2% in the future. The small & medium enterprises are anticipated to witness the highest growth rate during the forecast period.

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Comprehensive and Competetive Analysis of Dominating Market Players

•ADP Inc.
•Sage Group
•Zenefits Software
•Kronos Incorporated
•Ascentis HR Software
•Oracle Corporation
•Paycom Software Inc.
•Ceridian HCM Inc. (Morneau Sheppell Inc.)
•FinancialForce Software
•IRIS Software Group Ltd.

Table of Content

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVES

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Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. Moderate bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. High rivalry among market players
3.3.5. Moderate bargaining power of buyers

3.4. MARKET SHARE ANALYSIS (%), 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Secured cloud-backup of employee data
3.5.1.2. Advantages over on-premise solutions
3.5.1.3. Ease of system enhancements & updates

3.5.2. Restraints

3.5.2.1. Security issues

3.5.3. Opportunities

3.5.3.1. Integration of modules

3.5.4. Top impacting factors

Chapter: 4 CLOUD-BASED PAYROLL SOFTWARE MARKET, BY ORGANIZATION SIZE

4.1. OVERVIEW
4.2. LARGE ENTERPRISE

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. SMALL & MEDIUM ENTERPRISES

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

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