Over the five years to 2017, the HR and Payroll Software industry has experienced robust growth. The industry has benefited from increased private investment in software and the trend for businesses to bring HR services in-house to cut costs. As with most software industries, the biggest industry trend is the move toward cloud-based software as a service (SaaS) products. This transition to new software product offerings will continue over the next five years, promoting healthy growth for the industry. Over the five years to 2022, revenue for the HR and Payroll Software industry is forecast to continue increasing, albeit at a slightly lower rate than the previous period. The industry will benefit from increasing investment in software and widespread adoption of the SaaS business model. Still, some companies will return to outsourced HR and payroll providers as corporate profit increases.
This industry develops software for the purpose of human resource and payroll management. This service is provided online or through proprietary software.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.