Jan 15, 2021 (AmericaNewsHour) --
The report covers the forecast and analysis of the cloud based payroll software market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the cloud based payroll software market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cloud based payroll software market on a global level.
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In order to give the users of this report a comprehensive view of the cloud based payroll software market, we have included a competitive landscape and an analysis of Porter's Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the cloud based payroll software market by segmenting the market based on the product type, organization size, application, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Cost-effectiveness in deployment and up-gradation with the latest anti-virus protection along with system improvements will steer the market expansion over the forecast timeline. In addition to this, cloud-based payroll software also informs the users about their compliance status as well as changes in the regulations or rules of the firm. It also helps the firms provide the staff the access to their own information on the web portal. Nonetheless, growing concerns over security as well as the confidentiality of the employee data can pose a threat to the growth of the market over the forecast period.
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Based on the product type, the market for cloud based payroll software is divided into Free & Open-source Software and Subscription based Software. In terms of organization size, the industry is classified into Small & Medium-Sized Enterprises and Large Enterprises. Application-wise, the market is divided into Government, IT Sector, Defense, BFSI (Banking, Financial Services, and Insurance), Education, and Others.
Key players involved in the cloud based payroll software industry includes The Ultimate Software Group, Inc., IRIS Software Group, Ltd., Sage Group plc, Lucerna, LLC, Paycor, Inc., Paychex, Inc., Ascentis HR Software, Accentra Technologies Limited, Kronos Software, Personnel Data Systems, Inc., SAP Success Factors, Criterion, Inc., Workday, Inc., Oracle Corporation, Zenefits Software, FinancialForce Software, and ADP, LLC.
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