Compensation Software Market Developments by 2031
MARKET INTRODUCTION
Соmреnѕаtіоn ѕоftwаrе іѕ utilized for handling ѕаlаrу of еmрlоуееѕ of соmраnіеѕ and оrgаnіzаtіоnѕ, and the ѕоlutіоn provides guіdеlіnеѕ regarding fасtоrѕ required tо bе tаkеn іntо соnѕіdеrаtіоn ѕuсh аѕ јоb rеѕроnѕіbіlіtіеѕ, dеѕіgnаtіоn, аttеndаnсе, еtс. Соmреnѕаtіоn ѕоftwаrе hеlрѕ tо іnсrеаѕе wоrk еffісіеnсу, offers а сеntrаlіzеd рlаtfоrm tо mаnаgе tаѕkѕ like rеduсеѕ рареrwоrk аnd tіmе rеquіrеd fоr different рrосеѕѕеѕ, еmрlоуее соmреnѕаtіоn, рrоvіdеѕ bеttеr рlаnnіng аnd tаrgеt іnсеntіvе рrоgrаmѕ, аnd rеduсеѕ роѕѕіbіlіtу оf mаnuаl еrrоr.
MARKET DYNAMICS
Rіѕіng dеmаnd fоr аutоmаtіоn оf соmреnѕаtіоn рlаnnіng рrосеѕѕ is one of the major factors driving the growth of the compensation software market. Moreover, іnсrеаѕіng аdорtіоn оf сlоud-bаѕеd соmреnѕаtіоn ѕоftwаrе ѕоlutіоnѕ is anticipated to boost the growth of the compensation software market.
MARKET SCOPE
The “Global Compensation Software Market Analysis to 2031” is a specialized and in-depth study of the compensation software market with a special focus on the global market trend analysis. The report aims to provide an overview of compensation software market with detailed market segmentation by deployment, organization size. The global compensation software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading compensation software market players and offers key trends and opportunities in the compensation software market.
MARKET SEGMENTATION
The global compensation software market is segmented on the basis of deployment, organization size. On the basis of deployment, the market is segmented as on-premises, cloud based. On the basis of organization size, the market is segmented as large enterprises, small and medium-sized enterprises (SMEs).
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global compensation software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The compensation software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting compensation software market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the compensation software market in these regions.
Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any. 
Have a question?
Speak to Analyst
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global compensation software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The compensation software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting compensation software market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the compensation software market in these regions.
MARKET PLAYERS
The reports cover key developments in the compensation 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 market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from compensation software market are anticipated to lucrative growth opportunities in the future with the rising demand for compensation software market. Below mentioned is the list of few companies engaged in the compensation software market.
The report also includes the profiles of key compensation software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- НRЅоft Іnс.
- Кіnіхѕуѕ, Іnс.
- Willis Towers Watson
- Cornerstone OnDemand, Inc.
- CompensationCloud
- Compport IT Solutions
- PayScale, Inc.
- Salary.com, LLC
- PeopleFluent
- beqom
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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Compensation Software Market - By Deployment Type
1.3.2 Compensation Software Market - By Organization Size
1.3.3 Compensation Software Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. COMPENSATION SOFTWARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. COMPENSATION SOFTWARE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. COMPENSATION SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. COMPENSATION SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. COMPENSATION SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COMPENSATION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 – DEPLOYMENT TYPE
7.1. OVERVIEW
7.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
7.3. ON-PREMISES
7.3.1. Overview
7.3.2. On-Premises Market Forecast and Analysis
7.4. CLOUD BASED
7.4.1. Overview
7.4.2. Cloud Based Market Forecast and Analysis
8. COMPENSATION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 – ORGANIZATION SIZE
8.1. OVERVIEW
8.2. ORGANIZATION SIZE MARKET FORECASTS AND ANALYSIS
8.3. LARGE ENTERPRISES
8.3.1. Overview
8.3.2. Large Enterprises Market Forecast and Analysis
8.4. SMALL AND MEDIUM-SIZED ENTERPRISES (SMES)
8.4.1. Overview
8.4.2. Small and Medium-sized Enterprises (SMEs) Market Forecast and Analysis
9. COMPENSATION SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Compensation Software Market Overview
9.1.2 North America Compensation Software Market Forecasts and Analysis
9.1.3 North America Compensation Software Market Forecasts and Analysis - By Deployment Type
9.1.4 North America Compensation Software Market Forecasts and Analysis - By Organization Size
9.1.5 North America Compensation Software Market Forecasts and Analysis - By Countries
9.1.5.1 United States Compensation Software Market
9.1.5.1.1 United States Compensation Software Market by Deployment Type
9.1.5.1.2 United States Compensation Software Market by Organization Size
9.1.5.2 Canada Compensation Software Market
9.1.5.2.1 Canada Compensation Software Market by Deployment Type
9.1.5.2.2 Canada Compensation Software Market by Organization Size
9.1.5.3 Mexico Compensation Software Market
9.1.5.3.1 Mexico Compensation Software Market by Deployment Type
9.1.5.3.2 Mexico Compensation Software Market by Organization Size
9.2. EUROPE
9.2.1 Europe Compensation Software Market Overview
9.2.2 Europe Compensation Software Market Forecasts and Analysis
9.2.3 Europe Compensation Software Market Forecasts and Analysis - By Deployment Type
9.2.4 Europe Compensation Software Market Forecasts and Analysis - By Organization Size
9.2.5 Europe Compensation Software Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Compensation Software Market
9.2.5.1.1 Germany Compensation Software Market by Deployment Type
9.2.5.1.2 Germany Compensation Software Market by Organization Size
9.2.5.2 France Compensation Software Market
9.2.5.2.1 France Compensation Software Market by Deployment Type
9.2.5.2.2 France Compensation Software Market by Organization Size
9.2.5.3 Italy Compensation Software Market
9.2.5.3.1 Italy Compensation Software Market by Deployment Type
9.2.5.3.2 Italy Compensation Software Market by Organization Size
9.2.5.4 United Kingdom Compensation Software Market
9.2.5.4.1 United Kingdom Compensation Software Market by Deployment Type
9.2.5.4.2 United Kingdom Compensation Software Market by Organization Size
9.2.5.5 Russia Compensation Software Market
9.2.5.5.1 Russia Compensation Software Market by Deployment Type
9.2.5.5.2 Russia Compensation Software Market by Organization Size
9.2.5.6 Rest of Europe Compensation Software Market
9.2.5.6.1 Rest of Europe Compensation Software Market by Deployment Type
9.2.5.6.2 Rest of Europe Compensation Software Market by Organization Size
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Compensation Software Market Overview
9.3.2 Asia-Pacific Compensation Software Market Forecasts and Analysis
9.3.3 Asia-Pacific Compensation Software Market Forecasts and Analysis - By Deployment Type
9.3.4 Asia-Pacific Compensation Software Market Forecasts and Analysis - By Organization Size
9.3.5 Asia-Pacific Compensation Software Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Compensation Software Market
9.3.5.1.1 Australia Compensation Software Market by Deployment Type
9.3.5.1.2 Australia Compensation Software Market by Organization Size
9.3.5.2 China Compensation Software Market
9.3.5.2.1 China Compensation Software Market by Deployment Type
9.3.5.2.2 China Compensation Software Market by Organization Size
9.3.5.3 India Compensation Software Market
9.3.5.3.1 India Compensation Software Market by Deployment Type
9.3.5.3.2 India Compensation Software Market by Organization Size
9.3.5.4 Japan Compensation Software Market
9.3.5.4.1 Japan Compensation Software Market by Deployment Type
9.3.5.4.2 Japan Compensation Software Market by Organization Size
9.3.5.5 South Korea Compensation Software Market
9.3.5.5.1 South Korea Compensation Software Market by Deployment Type
9.3.5.5.2 South Korea Compensation Software Market by Organization Size
9.3.5.6 Rest of Asia-Pacific Compensation Software Market
9.3.5.6.1 Rest of Asia-Pacific Compensation Software Market by Deployment Type
9.3.5.6.2 Rest of Asia-Pacific Compensation Software Market by Organization Size
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Compensation Software Market Overview
9.4.2 Middle East and Africa Compensation Software Market Forecasts and Analysis
9.4.3 Middle East and Africa Compensation Software Market Forecasts and Analysis - By Deployment Type
9.4.4 Middle East and Africa Compensation Software Market Forecasts and Analysis - By Organization Size
9.4.5 Middle East and Africa Compensation Software Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Compensation Software Market
9.4.5.1.1 South Africa Compensation Software Market by Deployment Type
9.4.5.1.2 South Africa Compensation Software Market by Organization Size
9.4.5.2 Saudi Arabia Compensation Software Market
9.4.5.2.1 Saudi Arabia Compensation Software Market by Deployment Type
9.4.5.2.2 Saudi Arabia Compensation Software Market by Organization Size
9.4.5.3 U.A.E Compensation Software Market
9.4.5.3.1 U.A.E Compensation Software Market by Deployment Type
9.4.5.3.2 U.A.E Compensation Software Market by Organization Size
9.4.5.4 Rest of Middle East and Africa Compensation Software Market
9.4.5.4.1 Rest of Middle East and Africa Compensation Software Market by Deployment Type
9.4.5.4.2 Rest of Middle East and Africa Compensation Software Market by Organization Size
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Compensation Software Market Overview
9.5.2 South and Central America Compensation Software Market Forecasts and Analysis
9.5.3 South and Central America Compensation Software Market Forecasts and Analysis - By Deployment Type
9.5.4 South and Central America Compensation Software Market Forecasts and Analysis - By Organization Size
9.5.5 South and Central America Compensation Software Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Compensation Software Market
9.5.5.1.1 Brazil Compensation Software Market by Deployment Type
9.5.5.1.2 Brazil Compensation Software Market by Organization Size
9.5.5.2 Argentina Compensation Software Market
9.5.5.2.1 Argentina Compensation Software Market by Deployment Type
9.5.5.2.2 Argentina Compensation Software Market by Organization Size
9.5.5.3 Rest of South and Central America Compensation Software Market
9.5.5.3.1 Rest of South and Central America Compensation Software Market by Deployment Type
9.5.5.3.2 Rest of South and Central America Compensation Software Market by Organization Size
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL COMPENSATION SOFTWARE MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Rest of the World
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. COMPENSATION SOFTWARE MARKET, KEY COMPANY PROFILES
12.1. HRSOFT INC.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. KINIXSYS INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. WILLIS TOWERS WATSON
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CORNERSTONE ONDEMAND, INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. COMPENSATIONCLOUD
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. COMPPORT IT SOLUTIONS
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. PAYSCALE, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SALARY.COM, LLC
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. PEOPLEFLUENT
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. BEQOM
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
- HRSoft Inc.
- Kinixsys Inc.
- Willis Towers Watson
- Cornerstone OnDemand, Inc.
- CompensationCloud
- Compport IT Solutions
- PayScale, Inc.
- Salary.com, LLC
- PeopleFluent
- beqom
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For