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DATE
OCT 2022
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HIGHLIGHTS & REPORT INDEX
What`s New for 2023?
» Special coverage on Russia-Ukraine war; global inflation; easing of "zero-Covid" policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
» Global competitiveness and key competitor percentage market shares
» Market presence across multiple geographies - Strong/Active/Niche/Trivial
» Online interactive peer-to-peer collaborative bespoke updates
» Access to our digital archives and MarketGlass Research Platform
» Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Cloud-Based Payroll Software Market to Reach $19.1 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Cloud-Based Payroll Software estimated at US$10.5 Billion in the year 2020, is projected to reach a revised size of US$19.1 Billion by 2027, growing at aCAGR of 8.9% over the period 2020-2027. Large Enterprises, one of the segments analyzed in the report, is projected to record 7.8% CAGR and reach US$11.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the SMEs segment is readjusted to a revised 10.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 8.3% CAGR
The Cloud-Based Payroll Software market in the U.S. is estimated at US$3.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2027 trailing a CAGR of 8.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 7.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.
SELECT PLAYERS
ADP LLC; IRIS Software Group Ltd.; Kronos, Inc.; Morneau Shepell Ltd.; Oracle Corporation; Paycom; Sage Group plc; Zenefits
SEGMENTS
» Organization Size (Large Enterprises, SMEs) » End-Use (Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare, Other End-Uses)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
I. METHODOLOGY |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Influencer Market Insights |
World Market Trajectories |
Impact of Covid-19 and a Looming Global Recession |
Cloud-based Payroll Software – Global Key Competitors Percentage Market Share in 2020 (E) |
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2020 (E) |
2. FOCUS ON SELECT PLAYERS |
3. MARKET TRENDS & DRIVERS |
4. GLOBAL MARKET PERSPECTIVE |
World Recent Past, Current & Future Analysis for Large Enterprises by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Large Enterprises by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for SMEs by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for SMEs by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Cloud-Based Payroll Software Market Analysis of Annual Sales in US$ Million for Years 2012 through 2027 |
World Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Cloud-Based Payroll Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for Public Sector by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Public Sector by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Manufacturing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for IT & Telecom by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for IT & Telecom by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for BFSI by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for BFSI by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for Retail by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Retail by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
World 9-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2019 & 2027 |
III. MARKET ANALYSIS |
UNITED STATES |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2020 (E) |
USA Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
USA 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
USA Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
USA 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
CANADA |
Canada Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Canada 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Canada Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Canada 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
JAPAN |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2020 (E) |
Japan Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Japan 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Japan Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Japan 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
CHINA |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2020 (E) |
China Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
China 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
China Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
China 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
EUROPE |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2020 (E) |
Europe Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Europe 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Europe Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2018 through 2027 and % CAGR |
Europe 9-Year Perspective for Cloud-Based Payroll Software by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2019 & 2027 |
Europe Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Europe 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
FRANCE |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2020 (E) |
France Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
France 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
France Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
France 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
GERMANY |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2020 (E) |
Germany Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Germany 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Germany Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Germany 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
ITALY |
Italy Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Italy 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Italy Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Italy 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
UNITED KINGDOM |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2020 (E) |
UK Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
UK 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
UK Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
UK 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
REST OF EUROPE |
Rest of Europe Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Rest of Europe 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Rest of Europe Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Rest of Europe 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
ASIA-PACIFIC |
Cloud-Based Payroll Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2020 (E) |
Asia-Pacific Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Asia-Pacific 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Asia-Pacific Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Asia-Pacific 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
REST OF WORLD |
Rest of World Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by End-Use - Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Rest of World 9-Year Perspective for Cloud-Based Payroll Software by End-Use - Percentage Breakdown of Value Sales for Large Enterprises, SMEs, Public Sector, Manufacturing, IT & Telecom, BFSI, Retail, Healthcare and Other End-Uses for the Years 2019 & 2027 |
Rest of World Recent Past, Current & Future Analysis for Cloud-Based Payroll Software by Organization Size - - Independent Analysis of Annual Sales in US$ Million for the Years 2018 through 2027 and % CAGR |
Rest of World 9-Year Perspective for Cloud-Based Payroll Software by Organization Size - Percentage Breakdown of Value Sales for for the Years 2019 & 2027 |
IV. COMPETITION |
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