Cloud-based Payroll Software Market Outlook - Leading Players are ADP Inc., Sage Group, Zenefits Software, Kronos Incorporated, Ascentis HR Software, Oracle Corporation

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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This report provides a comprehensive analysis of

-Top impacting Growth Factors
-Competitive Analysis of Leading Market Players
-Current and Future Market Trends
-Market Segmentation
-Revenue Estimation by 2023

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 an increase in the 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.

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Questions answered in Cloud-based Payroll Software Market research study:

- What is the market growth rate of Cloud-based Payroll Software Market from 2017-2023?

- What will be the global market size of the market from 2017 to 2023?

- Who are the leading global manufacturing companies in the Cloud-based Payroll Software Market?

- What are the major current trends and predicted trends?

- What are the challenges faced in the Cloud-based Payroll Software Market?

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