Global HR Payroll Software Market 2022-2026

Global HR Payroll Software Market 2022-2026

Technavio has been monitoring the HR payroll software market and it is poised to grow by $ 2.09 bn during 2022-2026, progressing at a CAGR of 8.57% during the forecast period. Our report on the HR payroll software market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by increased HR software budgets and rise in cloud and mobile deployment. In addition, increased HR software budgets is anticipated to boost the growth of the market as well.

The HR payroll software market analysis includes the deployment segment and geographic landscape.

Technavio's HR payroll software market is segmented as below:

By Deployment

• Cloud
• On-premise

By Geographical Landscape

• North America
• Europe
• APAC
• MEA
• South America

This study identifies the increase in automation of HR processesas one of the prime reasons driving the HR payroll software market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on HR payroll software market covers the following areas:

• HR payroll software market sizing
• HR payroll software market forecast
• HR payroll software market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HR payroll software market vendors that include Automatic Data Processing Inc., Ceridian HCM Holding Inc., Oracle Corp., Paycom Software Inc., Paylocity Holding Corp., SAP SE, SumTotal Systems LLC, The Access Group, UKG Inc., and Workday Inc. Also, the HR payroll software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Companies Mentioned

Automatic Data Processing Inc., Ceridian HCM Holding Inc., Oracle Corp., Paycom Software Inc., Paylocity Holding Corp., SAP SE, SumTotal Systems LLC, The Access Group, UKG Inc., Workday Inc.