Market Overview:
The global small business payroll software market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based and subscription-based software solutions, and the growing trend of automation across small businesses. The global small business payroll software market is segmented on the basis of type into cloud-based and on-premises software solutions. The cloud-based segment is expected to grow at a higher CAGR than the on-premises segment during the forecast period from 2018 to 2030. This can be attributed to the growing preference for cloud computing among small businesses, owing to its advantages such as low cost, scalability, and ease of use. On the basis of application,the global small business payroll software market is divided into perpetual license and subscription license segments.
Product Definition:
Small business payroll software is used to manage employee payrolls for small businesses. It can automate the process of calculating wages, tracking hours worked, and issuing paychecks. It can also help keep track of employee tax information and filing deadlines. Small business payroll software is important because it helps businesses manage their payrolls more efficiently and avoid costly mistakes.
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 businesses to reduce their capital expenditure by eliminating their IT costs and buying only what they need, when they need it.
On-premises:
On-premises software is a type of cloud computing system that involves the installation of an application on the end user's computer. The software is installed and run from the end user's premises. On-premises solutions are often associated with large enterprises, as they have budgets for large IT staffs and infrastructure to support their operations, which include data centers housing high capacity servers for running applications at low costs.
Application Insights:
The perpetual license segment dominated the global small business payroll software market in 2017. With the growing number of SMEs and an increasing need for streamlining payroll processes, this segment is expected to continue its dominance over the forecast period. The subscription-based Small Business Payroll Software (SBPS) market is projected to witness a significant growth rate over the forecast period owing to various benefits offered by these services such as easy-to-use interfaces, customized solutions, 24*7 customer support and value added services.
The Asia Pacific region has been witnessing tremendous growth in recent years due to rising investments from foreign players in key sectors such as IT & telecommunication and retail. This trend is expected to continue over the next few years with regard to small business payroll software applications too; however, some challenges faced while implementing these solutions are high cost of technology adoption coupled with language barrier may prove difficult for some companies operating in China or India respectively.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing number of small & medium enterprises in countries such as China, India, and Japan. In addition, growing penetration of e-commerce in these economies will drive demand for accounting software among retailers and manufacturers.
North America accounted for more than 25% share of global revenue in 2017 owing to presence of a large number of small businesses coupled with high adoption rate cloud based SBS solutions by mid-size companies.
Growth Factors:
- Increasing demand for automation in payroll processes to manage growing complexities and compliance requirements
- Rising need to improve workforce productivity and optimize costs
- Proliferation of cloud-based solutions that offer anytime, anywhere access and scalability
- Growing trend of BYOD (Bring Your Own Device) among employees that is spurring the demand for mobile-friendly payroll software 5. Emergence of new technologies such as big data, predictive analytics, and machine learning that are helping businesses make better decisions about their payroll processes
Scope Of The Report
Report Attributes
Report Details
Report Title
Small Business Payroll Software Market Research Report
By Type
Cloud-based, On-premises
By Application
Perpetual license, Subscription license
By Companies
Gusto, Patriot, Paycor, Hubstaff, Paychex Flex, Rippling, Zenefits, ADP, Square Payroll, Paylocity, Calamari, BrightPay, OnPay, Powerpay, Wagepoint, Justworks, QCommission, Employment Hero, Payroll Mate, Netchex
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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Small Business Payroll Software Market Report Segments:
The global Small Business Payroll Software 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
Perpetual license, Subscription license
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:
- Gusto
- Patriot
- Paycor
- Hubstaff
- Paychex Flex
- Rippling
- Zenefits
- ADP
- Square Payroll
- Paylocity
- Calamari
- BrightPay
- OnPay
- Powerpay
- Wagepoint
- Justworks
- QCommission
- Employment Hero
- Payroll Mate
- Netchex
Highlights of The Small Business 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
- On-premises
- By Application:
- Perpetual license
- Subscription license
- 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 Small Business 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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- Correctly Positioning New Products
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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?
Small business payroll software is a computer program that helps businesses manage their payroll. It includes features such as creating and managing employee files, tracking hours worked, and issuing paychecks.
Some of the key players operating in the small business payroll software market are Gusto, Patriot, Paycor, Hubstaff, Paychex Flex, Rippling, Zenefits, ADP, Square Payroll, Paylocity, Calamari, BrightPay, OnPay, Powerpay, Wagepoint, Justworks, QCommission, Employment Hero, Payroll Mate, Netchex.
The small business payroll software market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Small Business 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 Small Business Payroll Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Small Business 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 Small Business 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 Small Business Payroll Software Market Size & Forecast, 2018-2028
4.5.1 Small Business Payroll Software Market Size and Y-o-Y Growth
4.5.2 Small Business Payroll Software Market Absolute $ Opportunity
Chapter 5 Global Small Business 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 Small Business Payroll Software 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 Small Business 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 Small Business Payroll Software Market Size Forecast by Applications
6.2.1 Perpetual license
6.2.2 Subscription license
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Small Business 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 Small Business 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 Small Business Payroll Software Analysis and Forecast
9.1 Introduction
9.2 North America Small Business 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 Small Business Payroll Software 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 Small Business Payroll Software Market Size Forecast by Applications
9.10.1 Perpetual license
9.10.2 Subscription license
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 Small Business Payroll Software Analysis and Forecast
10.1 Introduction
10.2 Europe Small Business 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 Small Business Payroll Software 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 Small Business Payroll Software Market Size Forecast by Applications
10.10.1 Perpetual license
10.10.2 Subscription license
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 Small Business Payroll Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Small Business 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 Small Business Payroll Software 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 Small Business Payroll Software Market Size Forecast by Applications
11.10.1 Perpetual license
11.10.2 Subscription license
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 Small Business Payroll Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Small Business 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 Small Business Payroll Software 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 Small Business Payroll Software Market Size Forecast by Applications
12.10.1 Perpetual license
12.10.2 Subscription license
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) Small Business Payroll Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Small Business 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) Small Business Payroll Software 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) Small Business Payroll Software Market Size Forecast by Applications
13.10.1 Perpetual license
13.10.2 Subscription license
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 Small Business Payroll Software Market: Competitive Dashboard
14.2 Global Small Business Payroll Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Gusto
14.3.2 Patriot
14.3.3 Paycor
14.3.4 Hubstaff
14.3.5 Paychex Flex
14.3.6 Rippling
14.3.7 Zenefits
14.3.8 ADP
14.3.9 Square Payroll
14.3.10 Paylocity
14.3.11 Calamari
14.3.12 BrightPay
14.3.13 OnPay
14.3.14 Powerpay
14.3.15 Wagepoint
14.3.16 Justworks
14.3.17 QCommission
14.3.18 Employment Hero
14.3.19 Payroll Mate
14.3.20 Netchex
