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Payroll and HR Solutions and Services Market

Market Insights on Payroll and HR Solutions and Services covering sales outlook, demand forecast & up-to-date key trends

Payroll and HR Solutions and Services Market by Deployment, Enterprise Size, Solution, Industry & Region - Forecast 2022 - 2032

Payroll and HR Solutions and Services Market Outlook (2022-2032)

[299 Pages Report] The global payroll and HR solutions and services market is expected to garner US$ 58.3 Billion while exhibiting a CAGR of 7.7% from 2022 to 2032. The market is likely to be valued at US$ 27.8 Billion in 2022, compared to US$ 25.5 Billion in 2021, registering a Y-o-Y growth of 9%.

Attributes

Details

Payroll and HR Solutions and Services Market CAGR (2022- 2032)

7.7%

Payroll and HR Solutions and Services Market Size (2022)

US$ 27.8 Billion

Payroll and HR Solutions and Services Market Size (2032)

US$ 58.3 Billion

“Rapid digital transformation in the HR Solutions along with growing adoption of cloud-based technologies in various organizations is expected to benefit the market in the forecast period. Also, with the growing need to manage the expanding workforce, there is spiking demand for an efficient HR solution”

Increasing need to manage the growing workforce is expected to play a salient role in driving the demand for efficient HR solutions, thereby, benefitting the market. Also, the growing demand to replace the conventional systems with advanced payroll and HR solutions is another factor expected to strengthen the industry in the coming time.

The rising acceptance of cloud-based technologies in companies is also driving the expansion of global payroll & HR solutions and services. Various benefits offered such as; data-crunching and time-saving features have enhanced its popularity among HR professionals. The ability of the software to offer customized solutions and more accessibility is likely to influence the market positively. Also, with the increased adoption of Work from Home culture across the globe, the pressure has been mounting on the HR function to upgrade policies. Various organizations such as; SAP, 3M, HubSpot, Coinbase, and Twitter, among others, have agreed to offer Work from Home or hybrid work culture to their employees, thereby, providing avenues of opportunities to the payroll and HR solutions market.

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What are the Factors Promoting Global Payroll and HR Solutions Market?

The growing adoption of cloud-based technologies in various organizations is expected to drive the market in the forecast period. With the rapid technological adoption of cloud technologies such as SaaS, the HR solutions market is expected to witness significant growth in the forthcoming time. Benefits offered by technology such as; document control, automatic updates, and ubiquity, among others, are expected to augment the market size in the forecast period.

Payroll and HR Solutions and Services Market Report Brochure

In order to remain competitive, eminent players such as; Oracle, SAP, and ADP are making aggressive investments to enhance their multi-tool HRM software. Furthermore, players are also raising funds, which is likely to benefit the market and offer opportunities for expansion in the coming time. For instance, in May 2022, Claira, an AI-powered analytics engine that assists organizations in understanding their talent and hiring, raised US$ 3.5 Million in Seed funding led by Heartland Ventures. The round also saw participation from Connetic Ventures, Trend Forward Capital, Northern Michigan Angels, and Invest Detroit Ventures.

Machine learning enables workforce analytics resulting in enhanced employee engagement. It also assists in recognizing future and present skill gaps. Mexico’s Ministry of Energy implements analytics and predictive workforce planning to analyze the shortage of expertise in HR professionals in the oil and gas sector. Owing to such factors, the rapid rise in the adoption of predictive and workforce analytics is expected to fuel the market expansion in the forthcoming period.

What is the Prevailing Opportunity in the Global Payroll and HR Solutions Market?

Integration of AI and Analytics with HR solutions services is expected to emerge as a significant opportunity for market expansion in the forecast period. The integration is expected to make the HR service solutions more effective and strengthen the employers in making wise decisions.

Players in the market are receiving investments, which is expected to encourage the integration of AI in HR solutions and offer significant opportunities for expansion For instance, in May 2022, Ciel Group, a workforce solutions company and skilling organization announced that it had received US$ 2.8 Million from Zoho Corp, Idhayam, Sri Kaliswari Fireworks, and few HNIs. Such initiatives are expected to escalate the market growth in the forecast period.

Increasing adoption of AI-powered HR Solutions is likely to strengthen the market growth in the forthcoming period. For instance, in April 2022, Espressive, the pioneer in AI for enterprise service management, announced its integration with renowned HR systems such as; SuccessFactors, Workday, and BAmbooHR, offering employees a platform to go for immediate personalized answers to all of their HR-related issues.

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What are the Factors Limiting the Global Payroll and HR Solutions and Services Market?

Lack of awareness about HR technology advantages is one of the principal factors limiting the growth of the market. Also, SMEs are reluctant to make investments in modern technologies owing to low budget and low funding, thereby, inhibiting the market during the assessment period. Therefore, restricted application of analytics tools in conventional HR practices is likely to inhibit the market expansion in the forthcoming period.

Complexities associated with legacy system integration is another factor inhibiting the market growth during the assessment period. HR software developers are likely to face challenges in understanding organizational technical demands, and software customization based on the enterprises’ demands. This is likely to impact the demand for Payroll and HR solutions and services during the assessment period.

Also, concerns regarding lack of knowledge and expertise in modern technologies while deploying the advanced solutions and offerings are likely to impede the market expansion over the forecast tenure.

Comparative View of Payroll and HR Solutions and Services Market

Global Payroll and HR Solutions and Services Market:

Attributes

Global Payroll and HR Solutions and Services Market

CAGR (2022-2032)

7.7%

Market Value (2032)

US$ 58.3 Billion

Growth Factor

Increasing adoption of cloud-based technologies in HR solutions to make wise decisions is expected to drive the market.

Opportunity

Integration of AI and Analytics with HR solutions services is expected to emerge as a significant opportunity during the forecast period.

HR Analytics Market:

Attributes

HR Analytics Market

CAGR (2022-2032)

13.8%

Market Value (2032)

US$ 11 Billion

Growth Factor

The growing need to reduce operational costs and enhance efficiency in organizations is expected to drive the HR analytics market in the forecast period.

Opportunity

Increasing application of cloud-based HR analytics is expected to offer various opportunities to the market during the assessment timeframe.

AI in HR Market:

Attributes

AI in HR Market

CAGR (2022-2032)

36%

Market Value (2032)

US$ 82.08 Billion

Growth Factor

Increasing demand for predictive and workforce analytics enables tools is expected to drive the market growth in the forecast period.

Opportunity

Integration of AI and other modern algorithms is expected to make the market more opportunistic in the forecast tenure.

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What is the Segmentation Analysis of the Global Payroll and HR Solutions and Services Market?

Cloud-based Payroll and HR Solutions and Services to be most widely deployed

By deployment, the cloud segment is expected to dominate the market in the forecast period. The segment is anticipated to expand at a CAGR of 8.4% from 2022 to 2032. The growth of the segment can be attributed to the benefits offered by cloud-based HR solutions. Cloud-based HR solutions allow management processes to be automated and offer employees and employers’ easy access to employee information anytime, and anywhere. It also reduces errors and time investment in resolving various issues.

Also, with increasing partnerships and acquisitions, the segment is expected to benefit in the coming time. For instance, in March 2022, BuildOps announced a strategic partnership with Sage, a pioneer in accounting, HR, and Payroll technology for SMEs. As per the partnership, BuildOps integrated with Sage Intacct and Sage Intacct Construction, Sage’s cloud financial management solutions are designed to meet the unique needs of various firms. Such initiatives are expected to grow the cloud segment in the forecast period.

SMEs to experience noteworthy uptake of Payroll and HR Solutions and Services, by Enterprise Size

Based on enterprise size, the global payroll and HR solutions and services market is expected to be dominated by SMEs. The segment is anticipated to expand at a CAGR of 8% in the forecast period. Expansion of the segment can be attributed to the presence of developing economies such as; India, China, and Japan. There has been a considerable growth in the number of SMEs operating in these countries, thereby, benefitting the segment.

Rising initiatives of the government in several digital SME campaigns across the globe are expected to further strengthen the industry in the forthcoming period. Moreover, increasing implementation of IT by SMEs and automation of HR processes are likely to boost the segmental growth in the forecast period.

What is the Regional Forecast in the Global Payroll and HR Solutions and Services Market?

North America to experience Significant Upswing in the Market

As per the analysis, North America is anticipated to dominate the market during the forecast period. Among all, the U.S is expected to make the most significant contribution to strengthening the market by garnering US$ 1.3 Billion while exhibiting a CAGR of 5.9% from 2022 to 2032.

This can be attributed to the increasing concentration of various providers of HR solutions. Growing complexities of enterprises of the rising workforce are motivating companies to adopt efficient HR solutions, thereby, benefitting the regional market. Moreover, the presence of established players such as; Oracle Corporation, IBM Corporation, and others, is expected to benefit the market in the forecast period.

Asia Pacific to Present Lucrative Growth Opportunities in the Long-Run

APAC is anticipated to be the fastest-growing region during the forecast period. The presence of developing countries such as China, Japan, and India is expected to play important role in developing the regional market during the forecast period. China is anticipated to garner the largest market of US$ 7.1 Billion from 2022 to 2032. While India is predicted to expand at the largest CAGR of 10.6% during the above-mentioned time frame. The growth of the region can be attributed to the participation of large end-user sectors such as; BFSI, IT and Telecom, Education, and others.

What is the expected Performance of the Market across Europe?

Europe is projected to witness decent growth in the forecast period. As per the analysis, the U.K is likely to make the maximum contribution in the forecast period. The region is expected to secure a market share of US$ 2.7 Billion by 2032, while recording a CAGR of 6.3% from 2022 to 2032. The European Union has adopted a talent management strategy to lessen the workload of staff for professional growth. Such initiatives are expected to drive market growth in the forecast period.

Country

Projected CAGR

U.S

5.9%

U.K

6.3%

China

9.9%

Japan

10.1%

India

10.6%

What is the Role of Key Players in the Global Payroll and HR Solutions and Services Market?

Major players in the global payroll and HR solutions and services include SAP SE, Paychex, Inc., Automatic Data Processing, Inc., TMF Group Holding B.V, and Ramco Systems Limited. Recent key developments in the industry are:

  • In April 2021, Ceridian HCM announced the acquisition of Ascender. Ascender is a Japanese payroll and HR solutions provider. The acquisition aims to offer comprehensive human capital management and payroll solutions in APAC.
  • In April 2022, CoffeeMug.ai, a growing community of over 2,50,000 founders, business leaders, and investors, launched a talent solution platform for higher-level hiring. The platform scans millions of public profiles available on the internet and layers them with analysis from, CoffeeMug’s data pool to drive senior-level hiring for its clientele.

Key Segments Profiled in the Payroll and HR Solutions and Services Market Report

Payroll and HR Solutions and Services by Deployment:

  • Cloud-based Payroll and HR Solutions and Services
  • On-Premise Payroll and HR Solutions and Services
  • Hybrid Payroll and HR Solutions and Services

Payroll and HR Solutions and Services by Enterprise Size:

  • Payroll and HR Solutions and Services for Large Enterprises
  • Payroll and HR Solutions and Services for Small and Medium Enterprises (SMEs)

Payroll and HR Solutions and Services by Solution:

  • Payroll and HR Solutions Software
  • Payroll and HR Solutions Services

Payroll and HR Solutions and Services by Industry:

  • Payroll and HR Solutions and Services for BFSI
  • Payroll and HR Solutions and Services for Government
  • Payroll and HR Solutions and Services for Healthcare
  • Payroll and HR Solutions and Services for Manufacturing
  • Payroll and HR Solutions and Services for Retail
  • Payroll and HR Solutions and Services for Telecom & IT
  • Payroll and HR Solutions and Services for Transportation & Logistics
  • Payroll and HR Solutions and Services for Other Industries

Payroll and HR Solutions and Services by Region:

  • North America Payroll and HR Solutions and Services Market
  • Europe Payroll and HR Solutions and Services Market
  • Asia-Pacific Payroll and HR Solutions and Services Market
  • Middle East & Africa Payroll and HR Solutions and Services Market
  • South America Payroll and HR Solutions and Services Market

Frequently Asked Questions

The global payroll and HR solutions and services market is expected to garner US$ 27.8 Billion in 2022.

The U.S is anticipated to garner US$ 1.3 Billion by 2032.

India is likely to expand at a CAGR of 10.6% during the forecast period.

The SMEs segment is expected to expand at a CAGR of 8% from 2022-to 2032.

The global payroll and HR solutions services market is anticipated to secure US$ 58.3 Billion by 2032.

The cloud segment, based on the aforementioned segment, is expected to exhibit a CAGR of 8.4% during the forecast period.

Table of Content

1. Preface

    1.1. Market Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Methodology

2. Key Assumptions for Data Modelling

3. Executive Summary : Global Payroll & HR Solutions and Services and Services Market

4. Market Background

    4.1. Introduction

    4.2. Value Chain Analysis

    4.3. Drivers

        4.3.1. Supply Side

        4.3.2. Demand Side

            4.3.2.1. Restraints

            4.3.2.2. Opportunities

    4.4. Key Trend Analysis

    4.5. Regulations and Policies

    4.6. Global Payroll & HR Solutions and Services and Services Market Analysis and Forecast, 2016 - 2032

        4.6.1. Market Revenue Analysis (US$ Bn)

            4.6.1.1. Historic growth trends, 2016-2021

            4.6.1.2. Forecast trends, 2016-2032

        4.6.2. Price Trend Analysis – By Region

    4.7. Market Outlook

5. Global Payroll & HR Solutions and Services and Services Market Analysis and Forecast, By Deployment

    5.1. Overview and Definition

    5.2. Key Segment Analysis

        5.2.1. Cloud

        5.2.2. On-Premise

        5.2.3. Hybrid

6. Global Payroll & HR Solutions and Services and Services Market Analysis and Forecast, By Enterprise Size

    6.1. Overview and Definition

    6.2. Key Segment Analysis

    6.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Enterprise Size, 2016 - 2032

        6.3.1. Large Enterprises

        6.3.2. SMEs

7. Global Payroll & HR Solutions and Services and Services Market Analysis and Forecast, By Solution

    7.1. Overview and Definition

    7.2. Key Segment Analysis

    7.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn) Forecast, By Solution, 2016 - 2032

        7.3.1. Software

            7.3.1.1. Standalone

                7.3.1.1.1. Payroll and Compensation Management

                7.3.1.1.2. Time and Attendance Management

                7.3.1.1.3. Compliance Management

                7.3.1.1.4. Workforce Management

                7.3.1.1.5. Claims Administration

                7.3.1.1.6. Employee Benefits Management

                7.3.1.1.7. Hire Management

                7.3.1.1.8. Others (Tax Management, Report Generation, etc.)

        7.3.2. Services

8. Global Payroll & HR Solutions and Services and Services Market Analysis and Forecast, By Industry Vertical

    8.1. Overview & Definition

    8.2. Industry Vertical GDP Share (%) for Top 12 countries (on GDP basis)

    8.3. Key Segment Analysis

    8.4. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Industry Vertical, 2016 - 2032

        8.4.1. BFSI

        8.4.2. Healthcare

        8.4.3. Manufacturing

        8.4.4. Retail

        8.4.5. Telecom and IT

        8.4.6. Transportation and Logistics

        8.4.7. Others (Energy etc.)

    8.5. Market Attractiveness By Industry Vertical

9. Global Payroll & HR Solutions and Services and Services Market Analysis and Forecast, by Region

    9.1. Overview

    9.2. Key Segment Analysis

    9.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, by Region, 2016 - 2032

        9.3.1. North America

        9.3.2. Europe

        9.3.3. Asia Pacific

        9.3.4. South America

    9.4. Market Attractiveness by Region

10. North America Payroll & HR Solutions and Services and Services Market Analysis and Forecast

    10.1. Key Findings

    10.2. Market Dynamics

        10.2.1. Drivers

            10.2.1.1. Supply Side

            10.2.1.2. Demand Side

        10.2.2. Restraints

        10.2.3. Opportunities

    10.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Deployment, 2016 - 2032

        10.3.1. Cloud

        10.3.2. On-Premise

        10.3.3. Hybrid

    10.4. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Enterprise Size, 2016 - 2032

        10.4.1. Small & Medium Enterprises (SME’s)

        10.4.2. Large Enterprises

    10.5. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Solution, 2016 - 2032

        10.5.1. Software

            10.5.1.1. Services Suite

            10.5.1.2. Standalone

                10.5.1.2.1. Payroll and Compensation Management

                10.5.1.2.2. Time and Attendance Management

                10.5.1.2.3. Compliance Management

                10.5.1.2.4. Workforce Management

                10.5.1.2.5. Claims Administration

                10.5.1.2.6. Employee Benefits Management

                10.5.1.2.7. Hire Management

                10.5.1.2.8. Others (Tax Management, Report Generation, etc.)

        10.5.2. Services

    10.6. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Industry Vertical, 2016 - 2032

        10.6.1. BFSI

        10.6.2. Government

        10.6.3. Healthcare

        10.6.4. Manufacturing

        10.6.5. Retail

        10.6.6. Telecom and IT

        10.6.7. Transportation and Logistics

        10.6.8. Others (Energy etc.)

    10.7. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Country, 2016 - 2032

        10.7.1. The U.S.

        10.7.2. Canada

        10.7.3. Rest of North America

    10.8. Market Attractiveness Analysis

        10.8.1. By Deployment

        10.8.2. By Enterprise Size

        10.8.3. By Solution

        10.8.4. By Industry Vertical

        10.8.5. By Country

11. Europe Payroll & HR Solutions and Services and Services Market Analysis and Forecast

    11.1. Key Findings

    11.2. Market Dynamics

        11.2.1. Drivers

            11.2.1.1. Supply Side

            11.2.1.2. Demand Side

        11.2.2. Restraints

        11.2.3. Opportunities

        11.2.4. Impact Analysis of Drivers & Restraints

    11.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Deployment, 2016 - 2032

        11.3.1. Cloud

        11.3.2. On-Premise

        11.3.3. Hybrid

    11.4. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Enterprise Size, 2016 - 2032

        11.4.1. Small & Medium Enterprises (SME’s)

        11.4.2. Large Enterprises

    11.5. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Solution, 2016 - 2032

        11.5.1. Software

            11.5.1.1. Services Suite

            11.5.1.2. Standalone

                11.5.1.2.1. Payroll and Compensation Management

                11.5.1.2.2. Time and Attendance Management

                11.5.1.2.3. Compliance Management

                11.5.1.2.4. Workforce Management

                11.5.1.2.5. Claims Administration

                11.5.1.2.6. Employee Benefits Management

                11.5.1.2.7. Hire Management

                11.5.1.2.8. Others (Tax Management, Report Generation, etc.)

        11.5.2. Services

    11.6. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Industry Vertical, 2016 - 2032

        11.6.1. BFSI

        11.6.2. Government

        11.6.3. Healthcare

        11.6.4. Manufacturing

        11.6.5. Retail

        11.6.6. Telecom and IT

        11.6.7. Transportation and Logistics

        11.6.8. Others (Energy etc.)

    11.7. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Country, 2016 - 2032

        11.7.1. Germany

        11.7.2. France

        11.7.3. UK

        11.7.4. Rest of Europe

    11.8. Market Attractiveness Analysis

        11.8.1. By Deployment

        11.8.2. By Enterprise Size

        11.8.3. By Solution

        11.8.4. By Industry Vertical

        11.8.5. By Country

12. Asia Pacific Payroll & HR Solutions and Services and Services Market Analysis and Forecast

    12.1. Key Findings

    12.2. Market Dynamics

        12.2.1. Drivers

            12.2.1.1. Supply Side

            12.2.1.2. Demand Side

        12.2.2. Restraints

        12.2.3. Opportunities

        12.2.4. Impact Analysis of Drivers & Restraints

    12.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Deployment, 2016 - 2032

        12.3.1. Cloud

        12.3.2. On-Premise

        12.3.3. Hybrid

    12.4. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Enterprise Size, 2016 - 2032

        12.4.1. Small & Medium Enterprises (SME’s)

        12.4.2. Large Enterprises

    12.5. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Solution, 2016 - 2032

        12.5.1. Software

            12.5.1.1. Services Suite

            12.5.1.2. Standalone

                12.5.1.2.1. Payroll and Compensation Management

                12.5.1.2.2. Time and Attendance Management

                12.5.1.2.3. Compliance Management

                12.5.1.2.4. Workforce Management

                12.5.1.2.5. Claims Administration

                12.5.1.2.6. Employee Benefits Management

                12.5.1.2.7. Hire Management

                12.5.1.2.8. Others (Tax Management, Report Generation, etc.)

        12.5.2. Services

    12.6. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Industry Vertical, 2016 - 2032

        12.6.1. BFSI

        12.6.2. Government

        12.6.3. Healthcare

        12.6.4. Manufacturing

        12.6.5. Retail

        12.6.6. Telecom and IT

        12.6.7. Transportation and Logistics

        12.6.8. Others (Energy etc.)

    12.7. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Country, 2016 - 2032

        12.7.1. China

        12.7.2. Japan

        12.7.3. India

        12.7.4. Rest of Asia Pacific

    12.8. Market Attractiveness Analysis

        12.8.1. By Deployment

        12.8.2. By Enterprise Size

        12.8.3. By Solution

        12.8.4. By Industry Vertical

        12.8.5. By Country

13. Middle East & Africa (MEA) Payroll & HR Solutions and Services and Services Market Analysis and Forecast

    13.1. Key Findings

    13.2. Market Dynamics

        13.2.1. Drivers

            13.2.1.1. Supply Side

            13.2.1.2. Demand Side

        13.2.2. Restraints

        13.2.3. Opportunities

        13.2.4. Impact Analysis of Drivers & Restraints

    13.3. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Deployment, 2016 - 2032

        13.3.1. Cloud

        13.3.2. On-Premise

        13.3.3. Hybrid

    13.4. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Enterprise Size, 2016 - 2032

        13.4.1. Small & Medium Enterprises (SME’s)

        13.4.2. Large Enterprises

    13.5. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Solution, 2016 - 2032

        13.5.1. Software

            13.5.1.1. Services Suite

            13.5.1.2. Standalone

                13.5.1.2.1. Payroll and Compensation Management

                13.5.1.2.2. Time and Attendance Management

                13.5.1.2.3. Compliance Management

                13.5.1.2.4. Workforce Management

                13.5.1.2.5. Claims Administration

                13.5.1.2.6. Employee Benefits Management

                13.5.1.2.7. Hire Management

                13.5.1.2.8. Others (Tax Management, Report Generation, etc.)

        13.5.2. Services

    13.6. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Industry Vertical, 2016 - 2032

        13.6.1. BFSI

        13.6.2. Government

        13.6.3. Healthcare

        13.6.4. Manufacturing

        13.6.5. Retail

        13.6.6. Telecom and IT

        13.6.7. Transportation and Logistics

        13.6.8. Others (Energy etc.)

    13.7. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Country, 2016 - 2032

        13.7.1. Saudi Arabia

        13.7.2. UAE

        13.7.3. Turkey

        13.7.4. Rest of MEA

    13.8. Market Attractiveness Analysis

        13.8.1. By Deployment

        13.8.2. By Enterprise Size

        13.8.3. By Solution

        13.8.4. By Industry Vertical

        13.8.5. By Country

14. South America Payroll & HR Solutions and Services and Services Market Analysis and Forecast

    14.1. Key Findings

    14.2. Market Dynamics

        14.2.1. Drivers

            14.2.1.1. Supply Side

            14.2.1.2. Demand Side

        14.2.2. Restraints

        14.2.3. Opportunities

        14.2.4. Impact Analysis of Drivers & Restraints

    14.3. Cloud

        14.3.1. On-Premise

        14.3.2. Hybrid

    14.4. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Enterprise Size, 2016 - 2032

        14.4.1. Small & Medium Enterprises (SME’s)

        14.4.2. Large Enterprises

    14.5. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Solution, 2016 - 2032

        14.5.1. Software

            14.5.1.1. Services Suite

            14.5.1.2. Standalone

                14.5.1.2.1. Payroll and Compensation Management

                14.5.1.2.2. Time and Attendance Management

                14.5.1.2.3. Compliance Management

                14.5.1.2.4. Workforce Management

                14.5.1.2.5. Claims Administration

                14.5.1.2.6. Employee Benefits Management

                14.5.1.2.7. Hire Management

                14.5.1.2.8. Others (Tax Management, Report Generation, etc.)

        14.5.2. Services

    14.6. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Industry Vertical, 2016 - 2032

        14.6.1. BFSI

        14.6.2. Government

        14.6.3. Healthcare

        14.6.4. Manufacturing

        14.6.5. Retail

        14.6.6. Telecom and IT

        14.6.7. Transportation and Logistics

        14.6.8. Others (Energy etc.)

    14.7. Payroll & HR Solutions and Services and Services Market Size (US$ Bn ) Forecast, By Country, 2016 - 2032

        14.7.1. Brazil

        14.7.2. Argentina

        14.7.3. Chile

        14.7.4. Rest of South America

    14.8. Market Attractiveness Analysis

        14.8.1. By Deployment

        14.8.2. By Enterprise Size

        14.8.3. By Solution

        14.8.4. By Industry Vertical

        14.8.5. By Country

15. Competition Landscape

    15.1. Market Player – Competition Matrix

    15.2. Market Revenue Share Analysis (%), By Company 2021 & 2032

16. Company Profiles

    16.1. Automatic Data Processing, Inc. (ADP)

        16.1.1. Business Overview

        16.1.2. Financial

        16.1.3. Strategic Overview

    16.2. SAP SE

        16.2.1. Business Overview

        16.2.2. Strategic Overview

    16.3. Sage Group plc.

        16.3.1. Business Overview

        16.3.2. Strategic Overview

    16.4. Paychex, Inc.

        16.4.1. Business Overview

        16.4.2. Financial

        16.4.3. Strategic Overview

    16.5. Ramco Systems Limited

        16.5.1. Business Overview

        16.5.2. Financial

        16.5.3. Strategic Overview

    16.6. TMF Group Holding B.V.

        16.6.1. Business Overview

        16.6.2. Financial

        16.6.3. Strategic Overview

    16.7. Ultimate Kronos Group 

        16.7.1. Business Overview

        16.7.2. Financial

        16.7.3. Strategic Overview

    16.8. Paycor, Inc.

        16.8.1. Business Overview

        16.8.2. Financial

        16.8.3. Strategic Overview

    16.9. Paycom Software, Inc.

        16.9.1. Business Overview

        16.9.2. Financial

        16.9.3. Strategic Overview

    16.10. Paylocity Corporation

        16.10.1. Business Overview

        16.10.2. Financial

        16.10.3. Strategic Overview

    16.11. Oracle Corporation

        16.11.1. Business Overview

        16.11.2. Financial

        16.11.3. Strategic Overview

    16.12. Jobvite, Inc.

        16.12.1. Business Overview

        16.12.2. Financial

        16.12.3. Strategic Overview

    16.13. Intuit Inc.

        16.13.1. Business Overview

        16.13.2. Financial

        16.13.3. Strategic Overview

    16.14. TriNet Group, Inc.

        16.14.1. Business Overview

        16.14.2. Financial

        16.14.3. Strategic Overview

17. Key Takeaways

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List of Tables

Table 1: Software prices for payroll & HR solutions & services (in USD)

Table 2: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Deployment, 2016 – 2032

Table 3: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Enterprise Size, 2016 – 2032

Table 4: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Solution, 2016 – 2032

Table 5: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Software, 2016 – 2032

Table 6: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Standalone Software, 2016 – 2032

Table 7: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Industry Vertical, 2016 – 2032

Table 8: Global Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Region, 2016–2032

Table10: North America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Enterprise Size,2016 – 2032

Table11: North America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Solution, 2016 – 2032

Table12: North America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Software, 2016 – 2032

Table13: North America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Standalone Software, 2016 – 2032

Table14: North America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Industry Vertical, 2016 – 2032

Table15: North America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Country, 2016 – 2032

Table 16: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Deployment, 2016 – 2032

Table17: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Enterprise Size, 2016 – 2032

Table18: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Solution, 2016 – 2032

Table19: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Software, 2016 – 2032

Table20: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Standalone Software, 2016 – 2032

Table21: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Industry Vertical, 2016 – 2032

Table22: Europe Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Country, 2016 – 2032

Table 23: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Deployment, 2016 – 2032

Table24: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Enterprise Size, 2016 – 2032

Table25: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Solution, 2016 – 2032

Table26: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Software,2016-2032

Table27: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Standalone Software, 2016 – 2032

Table28: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Industry Vertical, 2016 – 2032

Table29: Asia Pacific Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Country, 2016 – 2032

Table 30: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Deployment, 2016 – 2032

Table 31: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Enterprise Size, 2016 – 2032

Table32: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Solution,2016 – 2032

Table33: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Software,2016 – 2032

Table34: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Standalone Software, 2016 – 2032

Table35: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Industry Vertical, 2016 – 2032

Table36: Middle East & Africa Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Country, 2016 – 2032

Table 37: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Deployment, 2016 – 2032

Table38: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Enterprise Size,2016 – 2032

Table39: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Solution, 2016 – 2032

Table40: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Software, 2016 – 2032

Table41: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Standalone Software, 2016 – 2032

Table42: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Industry Vertical, 2016 – 2032

Table43: South America Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast, by Country, 2016 – 2032

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List of Charts

Figure 1: Payroll & HR Solutions and Services Market Share Analysis by Region in 2021 & 2032

Figure 2: Payroll & HR Solutions and Services Market Size (US$ Bn) Forecast and Y-o-Y Growth (%),2016 –2032

Figure 3: Global Payroll & HR Solutions and Services Market Y-o-Y Growth (%) Forecast, 2016 – 2032

Figure 5: Payroll & HR Solutions & Services Market Value Share, by Enterprise Size 2021 & 2032

Figure 7: Payroll & HR Solutions & Services Market Value Share, by Industry Verticals 2021 & 2032

Figure 4: Payroll & HR Solutions & Services Market Value Share, by Deployment 2021 & 2032

Figure 6: Payroll & HR Solutions & Services Market Value Share, by Solution 2021 & 2032

Figure 8: Global Payroll & HR Solutions and Services Market Share Analysis, By Deployment 2021 & 2032

Figure 9: Global Payroll & HR Solutions and Services Market Share Analysis, By Deployment (2021)

Figure 10: Global Payroll & HR Solutions and Services Market Attractiveness Analysis, By Deployment, 2018

Figure 11: Global Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size 2021 & 2032

Figure 12: Global Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size (2021)

Figure 13: Global Payroll & HR Solutions and Services Market Attractiveness Analysis, By Enterprise Size, 2018

Figure 14: Global Payroll & HR Solutions and Services Market Share Analysis, By Solution 2021 & 2032

Figure 15: Global Payroll & HR Solutions and Services Market Share Analysis, By Solution (2021)

Figure 16: Global Payroll & HR Solutions and Services Market Attractiveness Analysis, By Solution

Figure 17: Global Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical 2021 & 2032

Figure 18: Global Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical (2021)

Figure 19: Global Payroll & HR Solutions and Services Market Attractiveness Analysis, By Industry Vertical

Figure 20: Global Payroll & HR Solutions and Services Market Share Analysis, By Region 2021 & 2032

Figure 21: Global Payroll & HR Solutions and Services Market Share Analysis, By Region (2021)

Figure 22: Global Payroll & HR Solutions and Services Market Attractiveness Analysis, by Region, 2018

Figure 23: North America Payroll & HR Solutions and Services Market Revenue (US$ Bn) and Y-o-Y,2016–2032

Figure 24: North America Payroll & HR Solutions and Services Opportunity Growth Analysis (US$ Bn) Forecast,2016 – 2032

Figure 25: North America Payroll & HR Solutions and Services Market Share Analysis, By Deployment 2021 & 2032

Figure 26: North America Payroll & HR Solutions and Services Market Share Analysis, By Deployment (2021)

Figure 27: North America Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size 2021 & 2032

Figure 28: North America Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size (2021)

Figure 29: North America Payroll & HR Solutions and Services Market Share Analysis, By Solution 2021 & 2032

Figure 30: North America Payroll & HR Solutions and Services Market Share Analysis, By Solution (2021)

Figure 31: North America Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical 2021 & 2032

Figure 32: North America Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical (2021)

Figure 33: North America Payroll & HR Solutions and Services Market Share Analysis, By Country 2021 & 2032

Figure 34: North America Payroll & HR Solutions and Services Market Share Analysis, By Country (2021)

Figure 35: North America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Deployment

Figure 36: North America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Enterprise Size

Figure 37: North America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Solution

Figure 38: North America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Industry Vertical

Figure 39: North America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Country

Figure 40: Europe Payroll & HR Solutions and Services Market Revenue (US$ Bn) and Y-o-Y, 2016– 2032

Figure 41: Europe Payroll & HR Solutions and Services Opportunity Growth Analysis (US$ Bn) Forecast, 2016 – 2032

Figure 4: Europe Payroll & HR Solutions and Services Market Share Analysis, By Deployment

Figure 42: Europe Payroll & HR Solutions and Services Market Share Analysis, By Deployment 2021 & 2032

Figure 43: Europe Payroll & HR Solutions and Services Market Share Analysis, By Deployment (2021)

Figure 44: Europe Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size 2021 & 2032

Figure 45: Europe Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size (2021)

Figure 46: Europe Payroll & HR Solutions and Services Market Share Analysis, By Solution 2021 & 2032

Figure 47: Europe Payroll & HR Solutions and Services Market Share Analysis, By Solution (2021)

Figure 48: Europe Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical 2021 & 2032

Figure 49: Europe Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical (2021)

Figure 50: Europe Payroll & HR Solutions and Services Market Share Analysis, By Country 2021 & 2032

Figure 51: Europe Payroll & HR Solutions and Services Market Share Analysis, By Country (2021)

Figure 52: Europe Payroll & HR Solutions and Services Market Attractiveness Analysis, By Deployment

Figure 53: Europe Payroll & HR Solutions and Services Market Attractiveness Analysis, By Enterprise Size

Figure 54: Europe Payroll & HR Solutions and Services Market Attractiveness Analysis, By Solution

Figure 55: Europe Payroll & HR Solutions and Services Market Attractiveness Analysis, By Industry Vertical

Figure 56: Europe Payroll & HR Solutions and Services Market Attractiveness Analysis, By Country

Figure 57: Asia Pacific Payroll & HR Solutions and Services Market Revenue (US$ Bn) and Y-o-Y, 2016– 2032

Figure 58: Asia Pacific Payroll & HR Solutions and Services Opportunity Growth Analysis (US$ Bn) Forecast, 2016 – 2032

Figure 59: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Deployment 2021 & 2032

Figure 60: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Deployment (2021)

Figure 61: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size 2021 & 2032

Figure 62: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size (2021)

Figure 63: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Solution 2021 & 2032

Figure 64: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Solution (2021)

Figure 65: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical 2021 & 2032

Figure 66: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical (2021)

Figure 67: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Country 2021 & 2032

Figure 68: Asia Pacific Payroll & HR Solutions and Services Market Share Analysis, By Country (2021)

Figure 69: Asia Pacific Payroll & HR Solutions and Services Market Attractiveness Analysis, By Deployment

Figure 70: Asia Pacific Payroll & HR Solutions and Services Market Attractiveness Analysis, By Enterprise Size

Figure 71: Asia Pacific Payroll & HR Solutions and Services Market Attractiveness Analysis, By Solution

Figure 72: Asia Pacific Payroll & HR Solutions and Services Market Attractiveness Analysis, By Industry Vertical

Figure 73: Asia Pacific Payroll & HR Solutions and Services Market Attractiveness Analysis, By Country

Figure 74: Middle East & Africa Payroll & HR Solutions and Services Market Revenue (US$ Bn) and Y-o-Y, 2016– 2032

Figure 75: Middle East & Africa Payroll & HR Solutions and Services Opportunity Growth Analysis (US$ Bn) Forecast, 2016 – 2032

Figure 76: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Deployment 2021 & 2032

Figure 77: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Deployment (2021)

Figure 78: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size 2021 & 2032

Figure 79: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size (2021)

Figure 80: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Solution 2021 &2032

Figure 81: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Solution (2021)

Figure 82: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical 2021 & 2032

Figure 83: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical (2021)

Figure 84: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Country 2021 &2032

Figure 85: Middle East & Africa Payroll & HR Solutions and Services Market Share Analysis, By Country (2021)

Figure 86: Middle East & Africa Payroll & HR Solutions and Services Market Attractiveness Analysis, By Deployment

Figure 87: Middle East & Africa Payroll & HR Solutions and Services Market Attractiveness Analysis, By Enterprise Size

Figure 88: Middle East & Africa Payroll & HR Solutions and Services Market Attractiveness Analysis, By Solution

Figure 89: Middle East & Africa Payroll & HR Solutions and Services Market Attractiveness Analysis, By Industry Vertical

Figure 90: Middle East & Africa Payroll & HR Solutions and Services Market Attractiveness Analysis, By Country

Figure 91: South America Payroll & HR Solutions and Services Market Revenue (US$ Bn) and Y-o-Y, 2016– 2032

Figure 92: South America Payroll & HR Solutions and Services Opportunity Growth Analysis (US$ Bn) Forecast,2016 – 2032

Figure 93: South America Payroll & HR Solutions and Services Market Share Analysis, By Deployment 2021 & 2032

Figure 94: South America Payroll & HR Solutions and Services Market Share Analysis, By Deployment (2021)

Figure 95: South America Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size 2021 & 2032

Figure 96: South America Payroll & HR Solutions and Services Market Share Analysis, By Enterprise Size (2021)

Figure 97: South America Payroll & HR Solutions and Services Market Share Analysis, By Solution 2021 & 2032

Figure 98: South America Payroll & HR Solutions and Services Market Share Analysis, By Solution (2021)

Figure 99: South America Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical 2021 & 2032

Figure 100: South America Payroll & HR Solutions and Services Market Share Analysis, By Industry Vertical (2021)

Figure 101: South America Payroll & HR Solutions and Services Market Share Analysis, By Country 2021 & 2032

Figure 102: South America Payroll & HR Solutions and Services Market Share Analysis, By Country (2021)

Figure 103: South America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Deployment

Figure 104: South America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Enterprise Size

Figure 105: South America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Solution

Figure 106: South America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Industry Vertical

Figure 107: South America Payroll & HR Solutions and Services Market Attractiveness Analysis, By Country

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Payroll and HR Solutions and Services Market