Payroll is a service which is used to refer the amount of money given to the employee by an enterprise or organisation in the form of salaries, remunerations, bonuses, taxes and incentives and this primarily helps to analyse the funds to the companies. The payroll market is growing with a significant CAGR of XX% during the forecast period 2019-2025. Emerging number of accounting firms for the provision of payroll services and increasing adoption of cloud technologies are the key factors bolstering the payroll market growth. However, increasing customer base and technological advantages are thwarting the market growth. Rising demand for SaaS technology is likely to boost the demand for the payroll solutions in the upcoming decades.

Research Study Objectives:

• Define, estimate, and forecast the payroll market statistics by solution, deployment model, organisation size, end-user, and regions concerning the individual growth drivers, market trends and their contribution toward the payroll market growth
• Provides comprehensive information regarding the key factors influencing the market growth (Drivers, Restraints & Challenges, and Opportunities)
• Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
• Recent competitive developments including M&A (Mergers and Acquisitions), Partnerships, and Product Innovations are provided in the payroll Market Analysis report.
• Analysis and conclusions on the future payroll market outlook.

Top-down and bottom-up approaches are used to validate the payroll market size and are used to estimate the size of other dependent submarkets. Key players in the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the market revenues are estimated and are thoroughly validated through primary and secondary research. Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The payroll Market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the payroll market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.

The scope of the Report

The payroll market segmentation is as follows:

By Solution

• Software
  • Suite
  • Standalone
    • Compliance Management
    • Time and Attendance Management
    • Payroll and Compensation Management
    • Claims Administration
    • Workforce Management
    • Hire Management
    • Employee Benefits Management
    • Others
• Services
  • Telemarketing Services
  • Customer Services
  • Order Management Services
  • Technical Support Service

By Deployment model

• On-Premises
• Cloud
• Hybrid

By Organisation size

• Small & Medium Enterprises
• Large Enterprises

By Application Area

• Healthcare
• Government
• Banking, Finance, Service and Insurance
• Manufacturing
• Telecom and IT
• Transportation and Logistics
• Retail
• Others

Geographical Analysis:

Payroll Market is segmented by geography into North America, South America, Europe, APAC and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. APAC is further categorised by countries into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.

Customization Options:

With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for the payroll Market include:

• Scope Revision
• Geographic Analysis
• Company Profiles
• Historical Data & Forecasting
• Key Contact Persons in companies

Global payroll Market Research Report Includes:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOTanalysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROC in the current market and their impact on altering market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the significant payroll market players, such as
  • Sage Group PLC
  • McKesson Corporation
  • SAP SE
  • Oracle Corporation
  • ADP LLC

Along with these companies, many other companies are considered in the report while analysing the global payroll competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.