Global and Japan Cloud-based Payroll Software Market Size, Status and Forecast 2020-2026

Payroll software automates, organizes, and simplifies complex compensation planning and enables managers to improve budget allocations, increase accuracy, and align compensation decisions with organizational guidelines. Enterprises are implementing payroll software to make better compensation decisions while reducing cycle times with up-to-date, accurate, and auditable processes. Cloud-based payroll software is being installed by companies as it is economical and improves the efficiency of the compensation and review processes. The growing acceptance of cloud-based payroll software can be attributed to its advantages over the traditional payroll process. Cloud-based payroll software enables organizations to access data and services remotely through a web-browser without installing and managing application software. Cloud-based payroll software also provides flexibility in the deployment and has a short implementation time. This reduces implementation cost and improves the return on investment. One of the main benefits of cloud-based payroll software is the ability to access it from anywhere.
According to the 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. In addition, the pricing model of cloud-based payroll software is based on the pay-per-use model, where customers pay according to their use of the services, as opposed to a traditional on-site model that requires a one-time substantial capital investment and ongoing operational costs.

Market Analysis and Insights: Global Cloud-based Payroll Software Market
The global Cloud-based Payroll Software market size is projected to reach US$ 10270 million by 2026, from US$ 7442.9 million in 2020, at a CAGR of 5.5% during 2021-2026.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Cloud-based Payroll Software market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Cloud-based Payroll Software market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Cloud-based Payroll Software market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Cloud-based Payroll Software market.

Global Cloud-based Payroll Software Scope and Market Size
Cloud-based Payroll Software market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Cloud-based Payroll Software market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2015-2026.

Market segment by Type, the product can be split into

Business Software
Cloud ERP Software
Services Automation

Market segment by Application, split into

SMEs
Large Enterprises

Based on regional and country-level analysis, the Cloud-based Payroll Software market has been segmented as follows:
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa

In the competitive analysis section of the report, leading as well as prominent players of the global Cloud-based Payroll Software market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.

The key players covered in this study

ADP
CoreHR
Oracle
Paychex
SAP Success Factors
Ultimate Software
Workday
Aditro
Advanced
Affinity
Ascentis
BenefitMall
beqom
Ceridian HCM
CloudPay
Datacom
Execupay
Gusto
iAdmin
IRIS Software
Paycom
Payroo
Sage (UK)
SmartPayroll Australia