2021 Cloud-based Payroll Software Market has been prepared based on an in-depth market analysis with inputs from industry experts.
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The cloud-based payroll software market report considers the revenue generated from the sales of cloud-based payroll software subscription, maintenance and support, installation, customization, and training.
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The analysts forecast global cloud-based payroll software market to grow at a CAGR of 12.09% during the period 2017-2021.The latest trend gaining momentum in the cloud-based payroll software 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.
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According to the cloud-based payroll software market 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.
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Global cloud-based payroll software market players are 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.
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?
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