Payroll & HR Solutions & Services Market [Deployment– Cloud, On-premise, Hybrid; Enterprise Size – Small & Medium Enterprises (SME’s), Large Enterprises; Solution –Software, Services; Industry Vertical – Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, Manufacturing, Retail, Telecom and IT, Transportation and Logistics, and Others]– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026

Payroll & HR Solutions & Services Market [Deployment– Cloud, On-premise, Hybrid; Enterprise Size – Small & Medium Enterprises (SME’s), Large Enterprises; Solution –Software, Services; Industry Vertical – Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, Manufacturing, Retail, Telecom and IT, Transportation and Logistics, and Others]– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026

Published: 10/08/2018

Report Code: BWC1815

Available Format: PDF PDF Icon

Pages: 175

Payroll & HR Solutions & Services Market: Overview

Payroll & HR solutions & services market report provides analysis for the period 2016 – 2026, wherein the period from 2018-2026 is forecast period and 2017 as base year. The report covers all the major trends and technologies playing an influential role in the market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities for the analysis of market growth during the said period. The study provides a complete perspective on the evolution of the global payroll & HR solutions & services market in terms of revenue over USD 43,430 million, expanding with a CAGR over 9.5% during the forecast period.

The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that talks about the current nature and future scenario of the said market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of payroll & HR product.

Payroll & HR Solutions & Services Market: Scope of the Report

On the basis of deployment, the market is segmented into cloud, on premise, and hybrid. Based on enterprise size, the payroll & HR solutions & services market is divided into small & medium enterprises and large enterprises. Based on solution, the market is categorized into software and services. The software segment is further fragmented into suite and standalone. The standalone sub segment is classified into payroll and compensation management, time and attendance management, compliance management, workforce management, claims administration, employee benefits management, hire management and others (tax management, report generation, etc. On the basis of industry vertical, the payroll & HR solutions & services market is divided into banking, financial services, and insurance (BFSI), government, healthcare, manufacturing, retail, telecom and IT, transportation and logistics, and others. The report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa, and South America, along with the qualitative analysis for market estimates supplementing the growth of the payroll & HR solutions & services market during the forecast period.

The report also highlights the competitive landscape of the global payroll & HR solutions & services market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the industry.

This report provides all the essential information required to understand the key developments in the payroll & HR solutions & services market, and growth trends of each segment and region. It includes strategies of companies, financial information, SWOT analysis, and developments under the company profile section. The report also provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the payroll & HR solutions & services market. This report also provides a comprehensive ecosystem analysis for the payroll & HR solutions & services market. It explains the various participants including software & third-party vendors, system integrators, and distribution channels within the value chain operating in the market.

Payroll & HR Solutions & Services Market: Research Methodology

Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the global payroll & HR solutions & services market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.

Payroll & HR Solutions & Services Market: Key Findings

According to BlueWeave, the key findings of the report “Payroll & HR Solutions Market Size, Share, Development, Growth and Demand Forecast to 2026” are:

  • Payroll & HR solutions & services market is valued over USD 21 Million in 2017 and it is expected to reach around USD 43,439 Million at 2026, expanding with a CAGR over 9.5% during the forecast period.
  • The increase in complexities payroll system due to government rules and regulations requires an efficient system for payroll operations. This factor drives the global payroll & HR solutions & services market
  • North America is expected to grow at the CAGR of 8% during the estimated period. The market witnesses a significant growth and holds a dominant share of the market during the forecast period
  • U.S and Canada are anticipated to drive the growth of the payroll & HR solutions & services market in North America owing to the presence of a large number of established key players, such as, Oracle Corporation, International Business Machines Corporation, NetSuite Inc., Workday Inc. etc.
  • Rising popularity of the software and the growing awareness among enterprises regarding the benefits of implementation of HR payroll software is driving the market growth across Europe
  • The payroll & HR solutions & services market is expected to register high market growth in Asia Pacific region during the forecast period. The growth in Asia Pacific region is due to increase in number of enterprises during forecast period.
  • A small and medium size enterprise dominates the global payroll & HR solutions & services market. According to World Bank, small and medium size enterprises accounts for more than 90% in 2017.

Payroll & HR Solutions & Services Market, Revenue Analysis (USD Million) 2018-2026

Managed Print Services Market Graph

Payroll & HR Solutions & Services Market: Competitive Dynamics

The global payroll & HR solutions & services market report provides company market share analysis of the various key participants. Some of the key players are Automatic Data Processing, Inc. (ADP), Paycor, Inc., Paycom Software, Inc., TMF Group Holding B.V., SAP SE, Sage Group plc., Paychex, Inc., Ramco Systems Limited, Kronos Incorporated , Paycom Software, Inc., Paylocity Corporation, Ultimate Software Group, Oracle Corporation, Jobvite, Inc., Intuit Inc., and TriNet Group, Inc. among others.

1.       Preface

1.1.    Research Scope

1.2.    Market Segmentation

1.3.    Key Research Objectives

2.       Assumptions and Research Methodology

2.1.    Market Taxonomy – Segment Definitions

2.2.    Research Methodology

2.2.1. List of Primary and Secondary Sources

2.3.    Assumptions  & Acronyms Used

3.       Executive Summary : Global  Payroll & HR Solutions & Services  Market

4.       Market Overview

4.1.    Introduction: HR software overview & Major HR software vendors

4.2.    Technology/Product Roadmap

4.3.    Key Industry Developments

4.4.    Advantages of HR & Payroll Solutions

4.5.    Market Dynamics

4.5.1. Drivers

4.5.2. Restraints

4.5.3. Opportunities

4.6.    Key Trend Analysis  

5.       Global  Payroll & HR Solutions & Services  Market Analysis and Forecast, 2016 – 2026

5.1.    Market Revenue Analysis (US$ Mn )

5.2.    Price Trend Analysis

5.3.    Market CAGR Analysis By Region

6.       Global  Payroll & HR Solutions & Services  Market, By Deployment

6.1.    Overview and Definition

6.2.     Key Segment Analysis

6.2.1. On Premise

6.2.2. Cloud

6.3.    Market Size (US$ Mn  ) Forecast, By Deployment, 2016 – 2026

7.       Global  Payroll & HR Solutions & Services  Market, By Enterprise Size

7.1.    Overview and Definition

7.2.    Market Size (US$ Mn  ) Forecast, By Enterprise, 2016 – 2026

8.       Global  Payroll & HR Solutions & Services  Market, By Solution

8.1.    Overview and Definition

8.2.    Market Size (US$ Mn  ) Forecast, By Solution, 2016 – 2026

8.2.1. Market Size (US$ Mn  ) Forecast, By Software, 2016-2026

9.        Global  Payroll & HR Solutions & Services  Market Analysis and Forecast, By Industry Vertical

10.   Global  Payroll & HR Solutions & Services  Market , by Region

10.1.Regional Overview

10.2.Market Size & Forecast, By Region, 2016-2026

10.3.North America

10.3.1.    Market Analysis

10.3.2.    Market Dynamic Impact

10.3.3.    Rules & Regulations (U.S.)

10.3.4.    Canadian Payroll & HR Solutions & Services Market Revenue Analysis (in US$ Mn)

10.3.5.    U.S. Payroll & HR Solutions & Services Market Revenue Analysis (in US$ Mn)

10.3.6.    Market Size & Forecast, By Deployment                , 2016-2026

10.3.7.    Market Size & Forecast, By Enterprise Size, 2016-2026

10.3.8.    Market Size & Forecast, By Solution, 2016-2026

10.3.9.    Market Size & Forecast, By Software, 2016-2026

10.3.10. Market  Size & Forecast, By Industry Vertical, 2016-2026

10.3.11. Market  Size & Forecast, By Country, 2016-2026

10.3.12. North America Payroll & HR Solutions & Services Market Attractiveness Analysis   by Deployment, Enterprise Size, Solution

10.3.13. North America Payroll & HR Solutions & Services Market Attractiveness Analysis by Country, Industry Vertical

10.4.                      Europe

10.4.1.    Market Analysis

10.4.2.    Market Dynamic Impact

10.4.3.    Rules & Regulations

10.4.4.    Europe Payroll & HR Solutions & Services Market Revenue Analysis (in US$ Mn)

10.4.5.    Market Size & Forecast, By Deployment                , 2016-2026

10.4.6.    Market Size & Forecast, By Enterprise Size, 2016-2026

10.4.7.    Market Size & Forecast, By Solution, 2016-2026

10.4.8.    Market Size & Forecast, By Software, 2016-2026

10.4.9.    Market  Size & Forecast, By Industry Vertical, 2016-2026

10.4.10. Market  Size & Forecast, By Country, 2016-2026

10.4.11. Europe  Payroll & HR Solutions & Services Market Attractiveness Analysis   by Deployment, Enterprise Size, Solution

10.4.12. Europe Payroll & HR Solutions & Services Market Attractiveness Analysis by Country, Industry Vertical

10.5.                      Asia Pacific

10.5.1.    Market Analysis

10.5.2.    Market Dynamic Impact

10.5.3.    Rules & Regulations

10.5.4.    India Payroll & HR Solutions & Services Market Revenue Analysis (in US$ Mn)

10.5.5.    Market Size & Forecast, By Deployment                , 2016-2026

10.5.6.    Market Size & Forecast, By Enterprise Size, 2016-2026

10.5.7.    Market Size & Forecast, By Solution, 2016-2026

10.5.8.    Market Size & Forecast, By Software, 2016-2026

10.5.9.    Market  Size & Forecast, By Industry Vertical, 2016-2026

10.5.10. Market  Size & Forecast, By Country, 2016-2026

10.5.11. Asia Pacific  Payroll & HR Solutions & Services Market Attractiveness Analysis   by Deployment, Enterprise Size, Solution

10.5.12. Asia Pacific Payroll & HR Solutions & Services Market Attractiveness Analysis by Country, Industry Vertical

10.6.                      Middle East and Africa

10.6.1.    Market Analysis

10.6.2.    Market Dynamic Impact

10.6.3.    Market Size & Forecast, By Deployment                , 2016-2026

10.6.4.    Market Size & Forecast, By Enterprise Size, 2016-2026

10.6.5.    Market Size & Forecast, By Solution, 2016-2026

10.6.6.    Market Size & Forecast, By Software, 2016-2026

10.6.7.    Market  Size & Forecast, By Industry Vertical, 2016-2026

10.6.8.    Market  Size & Forecast, By Country, 2016-2026

10.6.9.    Middle East & Africa  Payroll & HR Solutions & Services Market Attractiveness Analysis   by Deployment, Enterprise Size, Solution

10.6.10. Middle East & Africa Payroll & HR Solutions & Services Market Attractiveness Analysis by Country, Industry Vertical

10.7.                      South America

10.7.1.    Market Analysis

10.7.2.    Market Dynamic Impact

10.7.3.    Market Size & Forecast, By Deployment                , 2016-2026

10.7.4.    Market Size & Forecast, By Enterprise Size, 2016-2026

10.7.5.    Market Size & Forecast, By Solution, 2016-2026

10.7.6.    Market Size & Forecast, By Software, 2016-2026

10.7.7.    Market  Size & Forecast, By Industry Vertical, 2016-2026

10.7.8.    Market  Size & Forecast, By Country, 2016-2026  

10.7.9.    South America  Payroll & HR Solutions & Services Market Attractiveness Analysis   by Deployment, Enterprise Size, Solution

10.7.10. South America Payroll & HR Solutions & Services Market Attractiveness Analysis by Country, Industry Vertical

11.    Competition Landscape

12.   Market Revenue Share Analysis (%), By Company (2017)

13.   Company Profiles

13.1.Automatic Data Processing, Inc. (ADP)

13.1.1.      Business Overview

13.1.2.    Financial

13.1.3.    Strategic Overview

13.2.SAP SE 

13.2.1.    Business Overview

13.2.2.    Financial

13.2.3.    Strategic Overview

13.3.Sage Group plc.

13.3.1.    Business Overview

13.3.2.    Financial

13.3.3.    Strategic Overview

13.4.Paychex, Inc.

13.4.1.    Business Overview

13.4.2.    Financial

13.4.3.    Strategic Overview

13.5.Ramco Systems Limited

13.5.1.    Business Overview

13.5.2.    Financial

13.5.3.    Strategic Overview

13.6.TMF Group Holding B.V.

13.6.1.    Business Overview

13.6.2.    Financial

13.6.3.    Strategic Overview

13.7.Kronos Incorporated

13.7.1.    Business Overview

13.7.2.    Financial

13.7.3.    Strategic Overview

13.8.Paycor, Inc.

13.8.1.    Business Overview

13.8.2.    Financial

13.8.3.    Strategic Overview

13.9.Paycom Software, Inc.

13.9.1.    Business Overview

13.9.2.    Financial

13.9.3.    Strategic Overview

13.10.                  Paylocity Corporation

13.10.1. Business Overview

13.10.2. Financial

13.10.3. Strategic Overview

13.11.                  Ultimate Software Group

13.11.1. Business Overview

13.11.2. Financial

13.11.3. Strategic Overview

13.12.                  Oracle Corporation

13.12.1. Business Overview

13.12.2. Financial

13.12.3. Strategic Overview

13.13.                  Jobvite, Inc.

13.13.1. Business Overview

13.13.2. Financial

13.13.3. Strategic Overview

13.14.                  Intuit Inc.

13.14.1. Business Overview

13.14.2. Financial

13.14.3. Strategic Overview

13.15.                  TriNet Group, Inc.

13.15.1. Business Overview

13.15.2. Financial

13.15.3. Strategic Overview

14.   Key Takeaways

List of Figure

Figure.1   Global Payroll & HR Solutions & Services Market Revenue Analysis in US$ Mn
Figure.2  Global Payroll & HR Solutions & Services Market Share Analysis by Region, 2018
Figure.3  Global Payroll & HR Solutions & Services Market Revenue Analysis (in US$ Mn)
Figure.4  Global Payroll & HR Solutions & Services Market CAGR Analysis
Figure.5  Canadian Payroll & HR Solutions & Services Market Revenue Analysis in US$ Mn, 2016H-2026F
Figure.6  Number of Enterprises in Canada, 2015-2018 in Million
Figure.7  U.S. Payroll & HR Solutions & Services Market Revenue Analysis in US$ Mn, 2016H-2026F
Figure.8  Number of Employees in U.S. , 2009-2018 in Million
Figure.9  North America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Deployment
Figure.10  North America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Enterprise Size
Figure.11  North America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Solution
Figure.12  North America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Country
Figure.13  North America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Industry Vertical
Figure.14  European Payroll & HR Solutions & Services Market Revenue Analysis in US$ Mn, 2016H-2026F
Figure.15  Number of  Enterprises in Europe, 2015-2017 in Million
Figure.16  Europe Payroll & HR Solutions & Services Market Attractiveness Analysis, By Deployment
Figure.17  Europe Payroll & HR Solutions & Services Market Attractiveness Analysis, By Enterprise Size
Figure.18  Europe Payroll & HR Solutions & Services Market Attractiveness Analysis, By Solution
Figure.19  Europe Payroll & HR Solutions & Services Market Attractiveness Analysis, By Country
Figure.20  Europe Payroll & HR Solutions & Services Market Attractiveness Analysis, By Industry Vertical
Figure.21  Asia Pacific Payroll & HR Solutions & Services Market Attractiveness Analysis, By Deployment
Figure.22  Asia Pacific Payroll & HR Solutions & Services Market Attractiveness Analysis, By Enterprise Size
Figure.23  Asia Pacific Payroll & HR Solutions & Services Market Attractiveness Analysis, By Solution
Figure.24  Asia Pacific Payroll & HR Solutions & Services Market Attractiveness Analysis, By Country
Figure.25  Asia Pacific Payroll & HR Solutions & Services Market Attractiveness Analysis, By Industry Vertical
Figure.26  Middle East & Africa Payroll & HR Solutions & Services Market Attractiveness Analysis, By Deployment
Figure.27  Middle East & Africa Payroll & HR Solutions & Services Market Attractiveness Analysis, By Enterprise Size
Figure.28  Middle East & Africa Payroll & HR Solutions & Services Market Attractiveness Analysis, By Solution
Figure.29  Middle East & Africa Payroll & HR Solutions & Services Market Attractiveness Analysis, By Country
Figure.30 Middle East & Africa Payroll & HR Solutions & Services Market Attractiveness Analysis, By Industry Vertical
Figure.31  South America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Deployment
Figure.32  South America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Enterprise Size
Figure.33  South America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Solution
Figure.34  South America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Country
Figure.35  South America Payroll & HR Solutions & Services Market Attractiveness Analysis, By Industry Vertical

List of Table

Table.1             Global Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Deployment 2016(H)-2026(F)

Table.2            Global Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Enterprise Size 2016(H)-2026(F)

Table.3            Global Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Solution 2016(H)-2026(F)

Table.4           Global Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Software, 2016(H)-2026(F

Table.5            Global Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Industry vertical, 2016(H)-2026(F)

Table.6           Global Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Region 2016(H)-2026(F)

Table.7           North  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Deployment 2016(H)-2026(F

Table.8          North  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Enterprise Size 2016(H)-2026(F)

Table.9          North  America Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Solution 2016(H)-2026(F)

Table.10        North  America Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Software, 2016(H)-2026(F)

Table.11         North  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Industry vertical, 2016(H)-2026(F)

Table.12         North  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Country 2016(H)-2026(F)

Table.13         Europe Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Deployment 2016(H)-2026(F)

Table.14         Europe Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Enterprise Size 2016(H)-2026(F)

Table.15         Europe Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Solution 2016(H)-2026(F)

Table.16         Europe Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Software, 2016(H)-2026(F)

Table.17         Europe Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Industry vertical, 2016(H)-2026(F)

Table.18        Europe Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Country 2016(H)-2026(F)

Table.19         Asia Pacific Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Deployment 2016(H)-2026(F)

Table.20        Asia Pacific Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Enterprise Size 2016(H)-2026(F)

Table.21         Asia Pacific Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Solution 2016(H)-2026(F)

Table.22         Asia Pacific Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Software, 2016(H)-2026(F)

Table.23         Asia Pacific Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Industry vertical, 2016(H)-2026(F)

Table.24         Asia Pacific Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Country 2016(H)-2026(F)

Table.25         Middle East & Africa Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Deployment 2016(H)-2026(F)

Table.26         Middle East & Africa Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Enterprise Size 2016(H)-2026(F)

Table.27          Middle East & Africa Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Solution 2016(H)-2026(F)

Table.28          Middle East & Africa Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Software, 2016(H)-2026(F)

Table.29          Middle East & Africa Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Industry Vertical, 2016(H)-2026(F)

Table.30          Middle East & Africa Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Country 2016(H)-2026(F)

Table.31           South  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Deployment 2016(H)-2026(F)

Table.32           South  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Enterprise Size 2016(H)-2026(F)

Table.33            South  America Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Solution 2016(H)-2026(F)

Table.34            South  America Payroll & HR Solutions & Services Market Size (US$ Mn) Forecast, by Software, 2016(H)-2026(F)

Table.35            South  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Industry vertical, 2016(H)-2026(F)

Table.36             South  America Payroll & HR Solutions & Services Market Size (US$ Mn)  Forecast, by Country 2016(H)-2026(F)

1.      Research Methodology

Payroll & HR Solutions & Services Market Research Methodology
Source: BlueWeave Consulting Analysis

2.      Regional Split of Primary & Secondary Research

Payroll & HR Solutions & Services Market Research Methodology
Source: BlueWeave Consulting Analysis

3.      Secondary Research

The research process began with obtaining historical market sizes of the entire Payroll & HR Solution & Services market and the share of each type of segmentation, through exhaustive secondary research to understand the potential of the market under the prevailing market environment during the past years. The growth rate of the market and its segments was studied with a comparative approach to understand the impact of factors that shaped the market during the recent past.

The next step involved the study of present market environment that is influencing the entire Payroll & HR Solution & Services market and its expected long-term impact. Weightage was given to several forces that are expected to affect the home security market, during the forecast period. Based on the interim analysis, the market numbers were formulated for each of the forecast years for every segment.

4.      Primary Research

Various industry experts including CEOs, presidents, vice presidents, directors, sales managers, products managers, organization executives and other key people of the global entire Payroll & HR Solution & Services market were interviewed. The third step involved validation of hypothesis through segmented primary research with the key opinion leaders in the industry, including the company representatives, experts from distributer agencies, service providers and other industry experts. The primary research helped in assessing the gathered and assumed data with the real-time experience of industry representatives. This also led to modification in certain assumptions that were taken during the process of preliminary research. The analysts arrived at solid data points after the completion of primary research process.

In the fourth step, the market engineering was conducted, where the data points collected through secondary and primary sources were compiled to compute the final market sizes

4.1    Breakdown of Primary Research Respondents, By Region

Payroll & HR Solutions & Services Market Research Methodology
Source: BlueWeave Consulting Analysis

            4.2  Breakdown of Primary Research Respondents, By Industry Participants

Payroll & HR Solutions & Services Market Research Methodology
Source: BlueWeave Consulting Analysis

5.     Market Size Estimation

Top-down approach has been followed to obtain the market size by region, and by country. Bottom-Up approach has been followed to obtain market size by deployment, enterprise size and by application.

An amalgamation of bottom-up and top-down approach has been performed to determine the revenue.

6.       Assumptions for the Study

  • The macro-economic factors would remain same during the forecast period.
  • The market players would exhibit consistent performance during the forecast period without having any adverse ripple effects on the industry.

7.     Market Breakdown & Data Triangulation

Payroll & HR Solutions & Services Market Research Methodology
Source: BlueWeave Consulting Analysis

Related Posts

Comments (1)

[…] to a new market report published by BlueWeave Consulting (www.blueweaveconsulting.com), the global payroll & HR solutions & services market was valued at USD 18.3 Billion in 2017 and is expected to expand at a CAGR of 9.5% from 2018 to […]

Comments are closed.