HR Payroll Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

HR payroll software is described as specific software that enables companies to pay the salary of their employees when their work gets completed. The HR payroll software industry facilitates salary hikes, bonus payments, recruitment, vacation leaves, benefit deductions, firing the employees, and other facilities, which help in the escalation of the HR payroll software market growth.

MARKET SCOPE

The "Global HR Payroll Software Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the HR payroll software market with detailed market segmentation by application, service, deployment, end user and geography. The report provides key statistics on the market status of the leading HR payroll software market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on application, the global HR payroll software market is segmented into payroll, employees benefits, tax fillings, employee records, performance review, learning management, time and attendance, leave management, others
  
•   On the basis of service, the market is segmented into installation, up-gradation, modification, hr shared services, service activity report
  
•   Based on deployment, the market is bifurcated into on-premises, cloud hosted
  
•   Based on end user, the market is bifurcated into large scale industry, medium scale industry, small scale industry, others
  

MARKET DYNAMICS

Drivers:

•   Rise in Cloud and Mobile Deployment.
  
•   Increase in Automation of HR Processes.
  

Restraints:

•   Reluctance to the Adoption of Core HR Software
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The HR payroll software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the HR payroll software market in these regions.

IMPACT OF COVID-19 ON HR PAYROLL SOFTWARE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the HR payroll software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from HR payroll software market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the HR payroll software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Kronos(U.S)
  
•   PeopleAdmin
  
•   Taleo Corporation
  
•   Halogen Software Inc
  
•   Kenexa Corporation
  
•   SuccessFactors
  
•   SumTotal Systems Inc.
  
•   Sage(U.S)
  
•   Ascentis
  
•   Epicore
  
•   Keka Inc
  
•   Greytip Software Pvt. Ltd
  
•   Zoho Corporation Pvt. Ltd
  
•   Paybooks
  
•   Kredily
  
•   SUMOPAYROLL
  
•   HRMantra Software Pvt. Ltd.
  
•   Ramco Systems.
  
•   Zimyo Consulting Private Limited
  
•   Technology Counter Pvt. Ltd.
  
•   HROne
  
•   Marg ERP Limited
  
•   Razorpay
  
•   MasterSoft
  
•   Pocket HRMS
  
•   Natural HR Limited
  
•   ZingHR
  
•   ADP, Inc.
  
•   Perk Payroll
  
•   Sysfore Technologies Pvt. Ltd
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

HR Payroll Software Report Scope