DUBLIN--(BUSINESS WIRE)--The "Payroll & HR Solutions & Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Payroll & HR Solutions and Services Market to Reach $38.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Payroll & HR Solutions and Services estimated at US$21.9 Billion in the year 2020, is projected to reach a revised size of US$38.4 Billion by 2027, growing at a CAGR of 8.3% over the analysis period 2020-2027.
Cloud, one of the segments analyzed in the report, is projected to record a 9% CAGR and reach US$18.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the On-Premise segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
The U. S. Market is Estimated at $5.9 Billion, While China is Forecast to Grow at 12.6% CAGR
The Payroll & HR Solutions and Services market in the U. S. is estimated at US$5.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.8 Billion by the year 2027 trailing a CAGR of 12.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 7.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.
Hybrid Segment to Record 7% CAGR
In the global Hybrid segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.3 Billion in the year 2020 will reach a projected size of US$5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.3 Billion by the year 2027, while Latin America will expand at a 8.3% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Automatic Data Processing, Inc. (ADP)
- Intuit, Inc.
- Jobvite, Inc.
- Kronos, Inc.
- Oracle Corporation
- Paychex, Inc.
- Paycom
- Paycor, Inc.
- Paylocity
- Ramco Systems Ltd.
- Sage Group plc
- SAP SE
- TMF Group B. V.
- TriNet Group, Inc.
- Ultimate Software Group, Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Competitor Market Shares
- Payroll & HR Solutions & Services Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
- Payroll & HR Solutions and Services Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
- Payroll & HR Solutions and Services Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019
- Payroll & HR Solutions and Services Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
- Cloud (Deployment) World Market by Region/Country in US$ Million: 2020 to 2027
- Cloud (Deployment) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019
- Cloud (Deployment) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
- On-Premise (Deployment) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027
- On-Premise (Deployment) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019
- On-Premise (Deployment) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
- Hybrid (Deployment) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027
- Hybrid (Deployment) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019
- Hybrid (Deployment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
- Small & Medium Enterprises (SMEs) (Enterprise Size) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027
- Small & Medium Enterprises (SMEs) (Enterprise Size) Market Historic Review by Region/Country in US$ Million: 2012 to 2019
- Small & Medium Enterprises (SMEs) (Enterprise Size) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027
- Large Enterprises (Enterprise Size) World Market by Region/Country in US$ Million: 2020 to 2027
- Large Enterprises (Enterprise Size) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019
- Large Enterprises (Enterprise Size) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
- Market Facts & Figures
- Payroll & HR Solutions & Services Market Share (in %) by Company: 2019 & 2025
- Market Analytics
- Payroll & HR Solutions and Services Market in US$ Million by Deployment: 2020-2027
- Payroll & HR Solutions and Services Market Retrospective Analysis in US$ Million by Deployment: 2012-2019
- Payroll & HR Solutions and Services Market Share Breakdown by Deployment: 2012 VS 2020 VS 2027
- Payroll & HR Solutions and Services Market Estimates and Projections in US$ Million by Enterprise Size: 2020 to 2027
- Payroll & HR Solutions and Services Market by Enterprise Size: A Historic Review in US$ Million for 2012-2019
- Payroll & HR Solutions and Services Market Share Breakdown by Enterprise Size: 2012 VS 2020 VS 2027
IV. COMPETITION
- Total Companies Profiled: 46
For more information about this report visit https://www.researchandmarkets.com/r/2tj4h5
