Market Overview:
The global multi-country payroll software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based and web-based payroll software solutions by large enterprises and SMEs across the globe. Additionally, the growing adoption of cloud-based solutions among small businesses is also contributing significantly to the growth of this market. North America is expected to lead the global multi-country payroll software market during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
Multi-Country Payroll Software is a type of software that helps businesses manage payroll processes in multiple countries. This software can help businesses automate tax calculation and reporting, as well as payment processing. Multi-Country Payroll Software can also help businesses ensure compliance with regional labor laws. The importance of Multi-Country Payroll Software depends on the size and complexity of the business' global payroll operations. For smaller businesses with simpler payroll needs, a basic off-the-shelf accounting package may be all that is needed to manage international payments.
Cloud Based:
Cloud-based software is a type of software service that provides solutions to manage data and applications across multiple locations. It allows organizations to store data on remote servers using inexpensive storage devices such as hard drives, flash memory, and optical drives. Cloud-based services offer benefits such as increased efficiency of operations (time & cost), mobility, real-time access to information (SaaS), easy deployment & integration with IT systems, security & compliance framework etc.
Web Based:
The global web-based and it's usage in multi-country payroll software market size was valued at USD 0.00 in 2016. The growth can be attributed to the increasing adoption of internet services, which is leading to a rise in the number of online customers for various commercial websites. In addition, factors such as ease of doing business owing to reduced overhead costs are expected to drive demand over the forecast period.
Application Insights:
The large enterprises segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growth of this segment can be attributed to factors such as increasing number of large enterprises across various countries, growing complexity in their payroll processes and a need for efficient payroll solutions. Furthermore, multinational companies with global operations are adopting modern technologies that enhance customer experience and reduce operational costs. These factors are driving the demand for multi-country payroll software among large organizations.
The Small & Medium-sized Enterprises (SMEs) segment is projected to witness considerable growth over the forecast period owing to increased adoption of cloud based MCP by SMEs across countries such as India, China, Brazil etc., which offer low cost labor compared to developed economies like U.S., Canada etc.
Regional Analysis:
The Asia Pacific region is anticipated to witness the highest CAGR of XX% from 2018 to 2030. The growth can be attributed to the increasing number of small and medium enterprises in countries such as China, India, and Japan. These enterprises are increasingly adopting multi-country payroll solutions for accounting and tax purposes. Moreover, an increase in government regulations pertaining to taxation has led many companies in these countries to adopt multi-country payroll software solutions for compliance reasons.
Countries such as Germany have a high penetration rate owing to factors such as early adoption of technology coupled with a large workforce that requires accurate tracking throughout the year regarding leave management among others.
Growth Factors:
- Increasing demand for multi-country payroll software from small and medium businesses (SMBs) due to the need for global compliance and efficient workforce management.
- The growing trend of outsourcing payroll processing to third-party service providers, who offer specialized software platforms that manage multiple countries’ payroll processes simultaneously.
- The increasing use of cloud-based solutions, which allow companies to access their pay data from any device or location with an internet connection.
- The rising number of multinational corporations (MNCs) expanding their operations into new countries, which creates a greater demand for multi-country payroll software solutions that can manage cross-border payments and compliance requirements efficiently.
Scope Of The Report
Report Attributes
Report Details
Report Title
Multi-Country Payroll Software Market Research Report
By Type
Cloud Based, Web Based
By Application
Large Enterprises, SMEs
By Companies
ADP, Ceridian Dayforce, Workday, Oracle's PeopleSoft, Blue Marble, Unit4, SAP SuccessFactors, Ramco, CloudPlay, activ8
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
214
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Multi-Country Payroll Software Market Report Segments:
The global Multi-Country Payroll Software market is segmented on the basis of:
Types
Cloud Based, Web Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ADP
- Ceridian Dayforce
- Workday
- Oracle's PeopleSoft
- Blue Marble
- Unit4
- SAP SuccessFactors
- Ramco
- CloudPlay
- activ8
Highlights of The Multi-Country Payroll Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Based
- Web Based
- By Application:
- Large Enterprises
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Multi-Country Payroll Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Multi-Country Payroll Software is a software application that helps businesses process payroll for employees working in multiple countries. This type of software can automate the process of tracking employee wages, tax payments, and other benefits across different jurisdictions. It may also provide support for payroll processing and reporting.
Some of the major companies in the multi-country payroll software market are ADP, Ceridian Dayforce, Workday, Oracle's PeopleSoft, Blue Marble, Unit4, SAP SuccessFactors, Ramco, CloudPlay, activ8.
The multi-country payroll software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Multi-Country Payroll Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Multi-Country Payroll Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Multi-Country Payroll Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Multi-Country Payroll Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Multi-Country Payroll Software Market Size & Forecast, 2018-2028
4.5.1 Multi-Country Payroll Software Market Size and Y-o-Y Growth
4.5.2 Multi-Country Payroll Software Market Absolute $ Opportunity
Chapter 5 Global Multi-Country Payroll Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Multi-Country Payroll Software Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 Web Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Multi-Country Payroll Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Multi-Country Payroll Software Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Multi-Country Payroll Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Multi-Country Payroll Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Multi-Country Payroll Software Analysis and Forecast
9.1 Introduction
9.2 North America Multi-Country Payroll Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Multi-Country Payroll Software Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 Web Based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Multi-Country Payroll Software Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Multi-Country Payroll Software Analysis and Forecast
10.1 Introduction
10.2 Europe Multi-Country Payroll Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Multi-Country Payroll Software Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 Web Based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Multi-Country Payroll Software Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Multi-Country Payroll Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Multi-Country Payroll Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Multi-Country Payroll Software Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 Web Based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Multi-Country Payroll Software Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Multi-Country Payroll Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Multi-Country Payroll Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Multi-Country Payroll Software Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 Web Based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Multi-Country Payroll Software Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Multi-Country Payroll Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Multi-Country Payroll Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Multi-Country Payroll Software Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 Web Based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Multi-Country Payroll Software Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Multi-Country Payroll Software Market: Competitive Dashboard
14.2 Global Multi-Country Payroll Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ADP
14.3.2 Ceridian Dayforce
14.3.3 Workday
14.3.4 Oracle's PeopleSoft
14.3.5 Blue Marble
14.3.6 Unit4
14.3.7 SAP SuccessFactors
14.3.8 Ramco
14.3.9 CloudPlay
14.3.10 activ8
