World Cloud-Based Payroll Software Market to Reach USD 9.9 Bn by 2023, Predicts KBV Research in Its New Report Available at MarketPublishers.com04 Oct 2017 • by Natalie Aster
LONDON – The size of the world cloud-based payroll software market is projected to amount to USD 9.9 billion by 2023, recording a 6% CAGR in the foreseeable future.
The HR department is engaged in keeping track of the number of working hours of an employee. Cloud-based payroll software is utilised to track the data so captured, which is then utilised to determine salary compensation of the employees. The cloud-based payroll software takes precedence over software solutions on-premises, and delivers benefits like cost-effectiveness. The on-premise solution is extremely cost-effective, and the start-up investments are far lower over against on-premises model.
The healthcare, retail, manufacturing, as well as banking, finance, security and insurance, amid others, are amid the main end-use sectors of cloud-based payroll software solutions. The manufacturing sector has seen the greater uptake of cloud-based payroll software as compared to other end-user sectors.
Ascentis HR Software, ADP, Paycom Software, Kronos Incorporated, Zenefits Software, Iris Software Group Limited, Oracle Corporation, and Sage Group, among others, are the leading players in the industry.
New research study “Global Cloud Based Payroll Software Market Analysis (2017-2023)” drawn up by KBV Research gives an all-round, unbiased assessment of the market globally.
The report provides exhaustive market segmentation based on organisation size, vertical, and region-wise. It provides comprehensive historical market size data for 2013-2016, and pertinent forecast figures through to 2023. The research publication throws light on the key market growth drivers and factors hindering the sector’s growth. It includes a competitive analysis of the market covering recent industry strategic developments. The study offers an all-round competition analysis of the leading stake holders of the world cloud-based payroll software market. It includes granular company profiles of the top 10 market players covering the aspects as business overview, financial details, regional analysis, strategies, etc.
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