Dublin, April 25, 2019 (GLOBE NEWSWIRE) -- The "Cloud Based Payroll Software Market to 2027 - Global Analysis and Forecasts by Organizational Size and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
The global cloud based payroll software market was valued at US$ 7.34 Bn in 2018 and is expected to grow at a CAGR of 10.3% during the forecast period 2019 - 2027, to account to US$ 17.39 Bn by 2027.
Factors such as advancements in cloud technology, and high adoption among by SMEs is driving the cloud based payroll software market growth.
The market has of large number well-recognized as well as medium and smaller companies across the globe which are involved in development of robust software and offer services to their clients. Also the advancements in cloud technology has accelerated the procurement of cloud based payroll software among numerous companies across industries.
Also, owing to low entry barrier to the cloud based payroll software market, the emerging companies are also experiencing significant growth in terms of clientele and revenue, which is smoothening the growth path of cloud based payroll software market in the emerging countries. In addition, the cost competitiveness among the cloud based payroll market players, is increasing the quest to adopt the advanced technology, thereby projecting a significant future for cloud based payroll software market.
The most prominent region in global cloud based payroll software market in 2018 accounted for North America, followed by Europe and Asia Pacific. Middle East and Africa, and South America held the fourth and fifth position in terms of market shares in cloud based payroll software market. The dominance of North America is majorly accountable for significantly large number of cloud based payroll software market players in the US.
Also, the trend of adoption of newer technologies is consistently higher in the US, and pertaining to the industry scenario, the country is densely populated with numerous organizations from different industries. Asia Pacific, is estimated to be the fastest growing geography during the forecast period from 2019 - 2027. The countries in Asia Pacific are constantly witnessing the establishments of different multi-national companies as well as emergence of national or local companies.
The major companies operating in the cloud based payroll software market globally includes ADP LLC, Ceridian HCM, Inc., Intuit Inc., PAYCOM, Paychex Inc., Oracle Corporation, Sage Group Plc., SAP SE, XERO Limited, and ZENEFITS among others.
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Cloud-Based Payroll Software Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 Pest Analysis
5. Cloud-Based Payroll Software Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Advantages of Cloud-Based Payroll Software Over On-Premise Solutions
5.1.2 Single, Scalable, and Real-Time Data
5.2 Key Market Restraints
5.2.1 Incompatibility With Other Systems and Access To Sensitive Data To Third-Party
5.3 Key Market Opportunities
5.3.1 Growing Adoptions of Cloud-Based Payroll Software by the Smes
5.4 Future Trends
5.4.1 Amalgamation of Artificial Intelligence (Ai) In Cloud-Based Payroll Software
5.5 Impact Analysis of Drivers and Restraints
6. Cloud-Based Payroll - Global Market Analysis
6.1 Global Cloud-Based Payroll Software Market Overview
6.2 Global Cloud-Based Payroll Software Market Forecast and Analysis
6.3 Market Positioning/ Market Share
7. Cloud-Based Payroll Software Market Revenue and Forecasts To 2027 -Organizational Size
7.1 Overview
7.2 Organizational Size Market Forecasts and Analysis
7.3 Small & Medium Enterprises (Smes)
7.3.1 Overview
7.3.1.1 Smes Market Forecasts and Analysis
7.3.1.2 Employee Size < 50 Market Forecasts and Analysis
7.3.1.3 Employee Size 50-99 Market Forecasts and Analysis
7.3.1.4 Employee Size 100-250 Market Forecasts and Analysis
7.4 Large Enterprises (Employee Size >250)
7.4.1 Overview
7.4.2 Large Enterprises Market Forecasts and Analysis
8. Cloud-Based Payroll Software Market Revenue and Forecasts To 2027 - by Industry Vertical
8.1 Overview
8.2 Industry Vertical Market Forecasts and Analysis
8.3 Healthcare
8.4 Manufacturing
8.5 Telecom & IT
8.6 BFSI
8.7 Retail
8.8 Hospitality
8.9 Public Sector
8.10 Others
9. Cloud-Based Payroll Software Market - Geographical Analysis
10. Industry Landscape
10.1 Market Initiative
10.2 Merger and Acquisition
10.3 New Development
11. Company Profiles
- Automatic Data Processing, Inc.
- Ceridian HCM, Inc
- Intuit, Inc
- Oracle Corporation
- Paychex, Inc.
- Paycom Software, Inc.
- The Sage Group plc
- SAP SE
- Xero Ltd.
- Zenefits
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