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The global Cloud-based Payroll Software market was valued at US$ 7428.6 million in 2022 and is projected to reach US$ 10640 million by 2029, at a CAGR of 5.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Payroll software automates, organizes, and simplifies complex compensation planning and enables managers to improve budget allocations, increase accuracy, and align compensation decisions with organizational guidelines. Enterprises are implementing payroll software to make better compensation decisions while reducing cycle times with up-to-date, accurate, and auditable processes. Cloud-based payroll software is being installed by companies as it is economical and improves the efficiency of the compensation and review processes. The growing acceptance of cloud-based payroll software can be attributed to its advantages over the traditional payroll process. Cloud-based payroll software enables organizations to access data and services remotely through a web-browser without installing and managing application software. Cloud-based payroll software also provides flexibility in the deployment and has a short implementation time. This reduces implementation cost and improves the return on investment. One of the main benefits of cloud-based payroll software is the ability to access it from anywhere.
This report aims to provide a comprehensive presentation of the global market for Cloud-based Payroll Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cloud-based Payroll Software. This report contains market size and forecasts of Cloud-based Payroll Software in global, including the following market information:

• Global Cloud-based Payroll Software Market Revenue, 2018-2023, 2024-2030, ($ millions)
• Global top five companies in 2022 (%)

According to the report, one of the major drivers for this market is Reduction in TCO. For traditional on-site security software, TCO includes a high upfront software license cost and software implementation cost coupled with a high maintenance cost. In the case of cloud, cloud vendors are responsible for the implementation, maintenance, updates, and backup of software, thereby reducing the need for internal IT administration. In addition, the pricing model of cloud-based payroll software is based on the pay-per-use model, where customers pay according to their use of the services, as opposed to a traditional on-site model that requires a one-time substantial capital investment and ongoing operational costs.
We surveyed the Cloud-based Payroll Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Cloud-based Payroll Software Market, by Type, 2018-2023, 2024-2030 ($ millions)
Global Cloud-based Payroll Software Market Segment Percentages, by Type, 2022 (%)

• Business Software
• Cloud ERP Software
• Services Automation

Global Cloud-based Payroll Software Market, by Application, 2018-2023, 2024-2030 ($ millions)
Global Cloud-based Payroll Software Market Segment Percentages, by Application, 2022 (%)

• SMEs
• Large Enterprises

Global Cloud-based Payroll Software Market, By Region and Country, 2018-2023, 2024-2030 ($ Millions)
Global Cloud-based Payroll Software Market Segment Percentages, By Region and Country, 2022 (%)

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Cloud-based Payroll Software revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Cloud-based Payroll Software revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:

• ADP
• CoreHR
• Oracle
• Paychex
• SAP Success Factors
• Ultimate Software
• Workday
• Aditro
• Advanced
• Affinity
• Ascentis
• BenefitMall
• beqom
• Ceridian HCM
• CloudPay
• Datacom
• Execupay
• Gusto
• iAdmin
• IRIS Software
• Paycom
• Payroo
• Sage (UK)
• SmartPayroll Australia

Outline of Major Chapters:

• Chapter 1: Introduces the definition of Cloud-based Payroll Software, market overview.
• Chapter 2: Global Cloud-based Payroll Software market size in revenue.
• Chapter 3: Detailed analysis of Cloud-based Payroll Software company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
• Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
• Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
• Chapter 6: Sales of Cloud-based Payroll Software in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
• Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
• Chapter 8: The main points and conclusions of the report.