Market Overview:
The global payroll software for accountants market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based payroll software and the growing trend of automation across various industries. The accounting firms segment is expected to hold the largest share of the global payroll software for accountants market in 2018, owing to the increasing adoption of cloud-based solutions by small and medium-sized businesses (SMBs). However, solo CPA professionals are projected to witness highest growth during the forecast period, owing to their growing preference for cloud-based solutions over on-premises solutions. North America is expected to lead the global payroll software for accountants market in terms of revenue in 2018, followed by Europe and Asia Pacific.
Product Definition:
A payroll software for accountants is a computer program that automates the calculation and payment of employees' wages and salaries. It can also compute taxes, deductions, and employer contributions. The importance of payroll software for accountants is that it greatly reduces the amount of time needed to process paychecks, track hours worked, calculate taxes, etc.
Cloud-based:
Cloud-based solutions are software-as-a-service (SaaS) applications that run on the cloud. The SaaS model is a platform where all the resources are available at low cost on an as needed basis. It helps organizations eliminate hardware and reduce costs by delivering services through Software as a Service (SAAS) model.
On-premises:
On-premises is a term used for software and services that are hosted on the end user's computers or servers. The software can be installed and run from the end users' site without any external involvement. In other words, it is an installation of program files which are done directly at the customer’s site to utilize its full potential.
Application Insights:
The accounting firm segment dominated the global payroll software for accountants market in 2017. This is attributed to factors such as increasing demand for financial advice and growing awareness regarding efficient management of payroll, among others. The solo CPA segment is expected to witness significant growth over the forecast period owing to factors such as an increase in number of small businesses and self-employed individuals, rising complexity of tax laws and regulations, shifting focus from large companies towards smaller firms, etc.
The Solo CPAs are more inclined towards adopting online solutions due to various benefits it offers including time & cost savings along with enhanced efficiency & control over processes related to employee time clocks or Payroll Data Processing (PDP). Furthermore, technological advancements have also enabled Solo CPAs access remote working through video conferencing or webinar services which further enhances their experience with a reliable payroll solution provider.
Regional Analysis:
Asia Pacific region accounted for the highest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing outsourcing activities by various accounting firms in this region. In addition, growing adoption of cloud-based solutions is also expected to drive regional market growth over the forecast period.
China accounted for a major share in terms of both volume and revenue generation within China owing to presence of numerous local players offering payroll software coupled with low pricing strategy adopted by these companies which are attracting many small & medium enterprises towards them resulting into high demand across all verticals including manufacturing, healthcare & life sciences, transportation & logistics among others.
Growth Factors:
- Increasing demand for automation in payroll processes to manage large volumes of data and reduce processing time.
- Growing need to streamline payroll processes and ensure compliance with statutory regulations.
- Rising trend of outsourcing payroll functions to third-party service providers to reduce costs and improve efficiency.
- Proliferation of cloud-based solutions that offer flexibility, scalability, and cost-effectiveness advantages over traditional on-premise software options.
Scope Of The Report
Report Attributes
Report Details
Report Title
Payroll Software for Accountants Market Research Report
By Type
Cloud-based, On-premises
By Application
Accounting firm, Solo CPA
By Companies
Roubler, Ascender, Darwinbox, Cognology, Profit, Gusto, Patriot, Time Tracker, Paycor, BambooHR, Hubstaff, Paychex Flex, Rippling, iCIMS Talent Cloud, UKG Ready, Workday HCM, Zenefits, Timesheets.com, ADP, Branch
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
215
Number of Tables & Figures
151
Customization Available
Yes, the report can be customized as per your need.
Global Payroll Software for Accountants Market Report Segments:
The global Payroll Software for Accountants market is segmented on the basis of:
Types
Cloud-based, On-premises
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
Accounting firm, Solo CPA
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:
- Roubler
- Ascender
- Darwinbox
- Cognology
- Profit
- Gusto
- Patriot
- Time Tracker
- Paycor
- BambooHR
- Hubstaff
- Paychex Flex
- Rippling
- iCIMS Talent Cloud
- UKG Ready
- Workday HCM
- Zenefits
- Timesheets.com
- ADP
- Branch
Highlights of The Payroll Software for Accountants 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
- On-premises
- By Application:
- Accounting firm
- Solo CPA
- 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 Payroll Software for Accountants 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?
Payroll software is a computer application that helps accountants manage employee payroll and tax records. It includes features such as tracking employee hours, calculating paychecks, and filing taxes.
Some of the major companies in the payroll software for accountants market are Roubler, Ascender, Darwinbox, Cognology, Profit, Gusto, Patriot, Time Tracker, Paycor, BambooHR, Hubstaff, Paychex Flex, Rippling, iCIMS Talent Cloud, UKG Ready, Workday HCM, Zenefits, Timesheets.com, ADP, Branch.
The payroll software for accountants market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Payroll Software for Accountants 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 Payroll Software for Accountants Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Payroll Software for Accountants 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 Payroll Software for Accountants 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 Payroll Software for Accountants Market Size & Forecast, 2018-2028
4.5.1 Payroll Software for Accountants Market Size and Y-o-Y Growth
4.5.2 Payroll Software for Accountants Market Absolute $ Opportunity
Chapter 5 Global Payroll Software for Accountants 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 Payroll Software for Accountants Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Payroll Software for Accountants 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 Payroll Software for Accountants Market Size Forecast by Applications
6.2.1 Accounting firm
6.2.2 Solo CPA
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Payroll Software for Accountants 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 Payroll Software for Accountants 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 Payroll Software for Accountants Analysis and Forecast
9.1 Introduction
9.2 North America Payroll Software for Accountants 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 Payroll Software for Accountants Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premises
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 Payroll Software for Accountants Market Size Forecast by Applications
9.10.1 Accounting firm
9.10.2 Solo CPA
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 Payroll Software for Accountants Analysis and Forecast
10.1 Introduction
10.2 Europe Payroll Software for Accountants 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 Payroll Software for Accountants Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premises
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 Payroll Software for Accountants Market Size Forecast by Applications
10.10.1 Accounting firm
10.10.2 Solo CPA
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 Payroll Software for Accountants Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Payroll Software for Accountants 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 Payroll Software for Accountants Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premises
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 Payroll Software for Accountants Market Size Forecast by Applications
11.10.1 Accounting firm
11.10.2 Solo CPA
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 Payroll Software for Accountants Analysis and Forecast
12.1 Introduction
12.2 Latin America Payroll Software for Accountants 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 Payroll Software for Accountants Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premises
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 Payroll Software for Accountants Market Size Forecast by Applications
12.10.1 Accounting firm
12.10.2 Solo CPA
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) Payroll Software for Accountants Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Payroll Software for Accountants 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) Payroll Software for Accountants Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premises
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) Payroll Software for Accountants Market Size Forecast by Applications
13.10.1 Accounting firm
13.10.2 Solo CPA
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 Payroll Software for Accountants Market: Competitive Dashboard
14.2 Global Payroll Software for Accountants Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Roubler
14.3.2 Ascender
14.3.3 Darwinbox
14.3.4 Cognology
14.3.5 Profit
14.3.6 Gusto
14.3.7 Patriot
14.3.8 Time Tracker
14.3.9 Paycor
14.3.10 BambooHR
14.3.11 Hubstaff
14.3.12 Paychex Flex
14.3.13 Rippling
14.3.14 iCIMS Talent Cloud
14.3.15 UKG Ready
14.3.16 Workday HCM
14.3.17 Zenefits
14.3.18 Timesheets.com
14.3.19 ADP
14.3.20 Branch
