Compensation Software Market 2020-2030 by Offering (Service, Solution), Deployment Mode (Cloud, On Premises), End User, Industry Vertical, and Region: Trend Forecast and Growth Opportunity
- Report ID: 3496
- Date: Sep, 2021
- Pages: 173
- Category: ICT & Media
Global compensation software market will reach $1,599.8 billion by 2030, growing by 8.5% annually over 2020-2030 driven by rising adoption of automated and digital HR technology, increasing popularity of compensation software amongst organizations.
Highlighted with 85 tables and 80 figures, this 173-page report “Global Compensation Software Market 2020-2030 by Offering (Service, Solution), Deployment Mode (Cloud, On Premises), End User, Industry Vertical, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global compensation software market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain.
The report is based on studies on 2015-2019 and provides forecast from 2020 till 2030 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global compensation software market in every aspect of the classification from perspectives of Offering, Deployment Mode, End User, Industry Vertical, and Region.
Based on Offering, the global market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.
Service
• Managed Services
• Professional Services (further segmented into Design and Implementation, Consulting, Training and Education, Support and Maintenance)
Solution
Based on Deployment Mode, the global market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.
• Cloud Based Product
• On Premises Product
Based on End User, the global market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.
• Large Enterprises
• SMEs
• Educational Organizations
• Government Institutions
Based on Industry Vertical, the global market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.
• Government
• BFSI
• Manufacturing Industry
• IT and Telecom
• Retail Industry
• Energy and Utilities
• Healthcare Industry
• Education
• Other Verticals
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• RoW (Israel, UAE, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown of all regional markets by country and split of key national markets by Offering, Deployment Mode, and Industry Vertical over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in global compensation software market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players (this may not be a complete list and extra companies can be added upon request):
ADP
Beqom
Bullseye Engagement LLC
Cornerstone
CuroComp
CWS Software
Decusoft
Greytip Software
Halogen Software
HRToolbench
IBM.
Nitso Technologies
Oracle Corporation
PayScale, Inc.
PeopleTicker
Saba Software Inc.
SAP Success Factors
SecureSheet
The Ultimate Software Group, Inc.
Willis Towers Watson
Workday
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 15
1.2.6 Market Size/Share Estimation 16
1.2.7 Research Limitations 17
1.3 Executive Summary 18
2 Market Overview and Dynamics 21
2.1 Market Size and Forecast 21
2.1.1 Impact of COVID-19 on the Market 23
2.2 Major Growth Drivers 25
2.3 Market Restraints and Challenges 28
2.4 Emerging Opportunities and Market Trends 31
2.5 Porter’s Fiver Forces Analysis 35
3 Segmentation of Global Market by Offering 39
3.1 Market Overview by Offering 39
3.2 Service 41
3.2.1 Managed Services 42
3.2.2 Professional Services 43
3.3 Solution 45
4 Segmentation of Global Market by Deployment Mode 46
4.1 Market Overview by Deployment Mode 46
4.2 Cloud Based Product 48
4.3 On Premises Product 49
5 Segmentation of Global Market by End User 50
5.1 Market Overview by End User 50
5.2 Large Enterprises 52
5.3 SMEs 53
5.4 Educational Organizations 54
5.5 Government Institutions 55
6 Segmentation of Global Market by Industry Vertical 56
6.1 Market Overview by Industry Vertical 56
6.2 Government 58
6.3 BFSI 59
6.4 Manufacturing Industry 60
6.5 IT and Telecom 61
6.6 Retail Industry 62
6.7 Energy and Utilities 63
6.8 Healthcare Industry 64
6.9 Education 66
6.10 Other Verticals 67
7 Segmentation of Global Market by Region 68
7.1 Geographic Market Overview 2019-2030 68
7.2 North America Market 2019-2030 by Country 72
7.2.1 Overview of North America Market 72
7.2.2 U.S. 76
7.2.3 Canada 80
7.2.4 Mexico 82
7.3 European Market 2019-2030 by Country 84
7.3.1 Overview of European Market 84
7.3.2 Germany 88
7.3.3 UK 90
7.3.4 France 92
7.3.5 Spain 94
7.3.6 Italy 96
7.3.7 Russia 98
7.3.8 Rest of European Market 100
7.4 Asia-Pacific Market 2019-2030 by Country 102
7.4.1 Overview of Asia-Pacific Market 102
7.4.2 Japan 106
7.4.3 China 109
7.4.4 Australia 111
7.4.5 India 113
7.4.6 South Korea 115
7.4.7 Rest of APAC Region 117
7.5 South America Market 2019-2030 by Country 119
7.5.1 Argentina 122
7.5.2 Brazil 124
7.5.3 Chile 126
7.5.4 Rest of South America Market 128
7.6 MEA Market 2019-2030 by Country 129
7.6.1 UAE 132
7.6.2 Saudi Arabia 134
7.6.3 South Africa 136
7.6.4 Other National Markets 138
8 Competitive Landscape 139
8.1 Overview of Key Vendors 139
8.2 New Product Launch, Partnership, Investment, and M&A 144
8.3 Company Profiles 145
ADP 145
Beqom 147
Bullseye Engagement LLC 148
Cornerstone 149
CuroComp 150
CWS Software 151
Decusoft 152
Greytip Software 153
Halogen Software 154
HRToolbench 155
IBM. 156
Nitso Technologies 157
Oracle Corporation 158
PayScale, Inc. 159
PeopleTicker 160
Saba Software Inc. 161
SAP Success Factors 162
SecureSheet 163
The Ultimate Software Group, Inc. 164
Willis Towers Watson 165
Workday 166
9 Investing in Global Market: Risk Assessment and Management 167
9.1 Risk Evaluation of Global Market 167
9.2 Critical Success Factors (CSFs) 170
Related Reports and Products 173
List of Tables
Table 1. Snapshot of Global Compensation Software Market, 2019-2030 19Table 2. Main Product Trends and Market Opportunities in Global Compensation Software Market 31
Table 3. Global Compensation Software Market by Offering, 2019-2030, $ mn 39
Table 4. Global Compensation Software Market: Service by Type, 2019-2030, $ mn 41
Table 5. Global Compensation Software Market: Professional Services by Segment, 2019-2030, $ mn 44
Table 6. Global Compensation Software Market by Deployment Mode, 2019-2030, $ mn 46
Table 7. Global Compensation Software Market by End User, 2019-2030, $ mn 50
Table 8. Global Compensation Software Market by Industry Vertical, 2019-2030, $ mn 56
Table 9. Global Compensation Software Market by Region, 2019-2030, $ mn 69
Table 10. Leading National Compensation Software Market, 2019 and 2030, $ mn 71
Table 11. North America Compensation Software Market by Country, 2019-2030, $ mn 74
Table 12. U.S. Compensation Software Market by Offering, 2019-2030, $ mn 78
Table 13. U.S. Compensation Software Market by Deployment Mode, 2019-2030, $ mn 78
Table 14. U.S. Compensation Software Market by Industry Vertical, 2019-2030, $ mn 78
Table 15. Canada Compensation Software Market by Offering, 2019-2030, $ mn 81
Table 16. Canada Compensation Software Market by Deployment Mode, 2019-2030, $ mn 81
Table 17. Canada Compensation Software Market by Industry Vertical, 2019-2030, $ mn 81
Table 18. Mexico Compensation Software Market by Offering, 2019-2030, $ mn 83
Table 19. Mexico Compensation Software Market by Deployment Mode, 2019-2030, $ mn 83
Table 20. Mexico Compensation Software Market by Industry Vertical, 2019-2030, $ mn 83
Table 21. Europe Compensation Software Market by Country, 2019-2030, $ mn 87
Table 22. Germany Compensation Software Market by Offering, 2019-2030, $ mn 89
Table 23. Germany Compensation Software Market by Deployment Mode, 2019-2030, $ mn 89
Table 24. Germany Compensation Software Market by Industry Vertical, 2019-2030, $ mn 89
Table 25. UK Compensation Software Market by Offering, 2019-2030, $ mn 91
Table 26. UK Compensation Software Market by Deployment Mode, 2019-2030, $ mn 91
Table 27. UK Compensation Software Market by Industry Vertical, 2019-2030, $ mn 91
Table 28. France Compensation Software Market by Offering, 2019-2030, $ mn 93
Table 29. France Compensation Software Market by Deployment Mode, 2019-2030, $ mn 93
Table 30. France Compensation Software Market by Industry Vertical, 2019-2030, $ mn 93
Table 31. Spain Compensation Software Market by Offering, 2019-2030, $ mn 95
Table 32. Spain Compensation Software Market by Deployment Mode, 2019-2030, $ mn 95
Table 33. Spain Compensation Software Market by Industry Vertical, 2019-2030, $ mn 95
Table 34. Italy Compensation Software Market by Offering, 2019-2030, $ mn 97
Table 35. Italy Compensation Software Market by Deployment Mode, 2019-2030, $ mn 97
Table 36. Italy Compensation Software Market by Industry Vertical, 2019-2030, $ mn 97
Table 37. Russia Compensation Software Market by Offering, 2019-2030, $ mn 99
Table 38. Russia Compensation Software Market by Deployment Mode, 2019-2030, $ mn 99
Table 39. Russia Compensation Software Market by Industry Vertical, 2019-2030, $ mn 99
Table 40. Compensation Software Market in Rest of Europe by Country, 2019-2030, $ mn 101
Table 41. APAC Compensation Software Market by Country, 2019-2030, $ mn 104
Table 42. Japan Compensation Software Market by Offering, 2019-2030, $ mn 108
Table 43. Japan Compensation Software Market by Deployment Mode, 2019-2030, $ mn 108
Table 44. Japan Compensation Software Market by Industry Vertical, 2019-2030, $ mn 108
Table 45. China Compensation Software Market by Offering, 2019-2030, $ mn 110
Table 46. China Compensation Software Market by Deployment Mode, 2019-2030, $ mn 110
Table 47. China Compensation Software Market by Industry Vertical, 2019-2030, $ mn 110
Table 48. Australia Compensation Software Market by Offering, 2019-2030, $ mn 112
Table 49. Australia Compensation Software Market by Deployment Mode, 2019-2030, $ mn 112
Table 50. Australia Compensation Software Market by Industry Vertical, 2019-2030, $ mn 112
Table 51. India Compensation Software Market by Offering, 2019-2030, $ mn 114
Table 52. India Compensation Software Market by Deployment Mode, 2019-2030, $ mn 114
Table 53. India Compensation Software Market by Industry Vertical, 2019-2030, $ mn 114
Table 54. South Korea Compensation Software Market by Offering, 2019-2030, $ mn 116
Table 55. South Korea Compensation Software Market by Deployment Mode, 2019-2030, $ mn 116
Table 56. South Korea Compensation Software Market by Industry Vertical, 2019-2030, $ mn 116
Table 57. Compensation Software Market in Rest of APAC by Country, 2019-2030, $ mn 118
Table 58. South America Compensation Software Market by Country, 2019-2030, $ mn 121
Table 59. Argentina Compensation Software Market by Offering, 2019-2030, $ mn 123
Table 60. Argentina Compensation Software Market by Deployment Mode, 2019-2030, $ mn 123
Table 61. Argentina Compensation Software Market by Industry Vertical, 2019-2030, $ mn 123
Table 62. Brazil Compensation Software Market by Offering, 2019-2030, $ mn 125
Table 63. Brazil Compensation Software Market by Deployment Mode, 2019-2030, $ mn 125
Table 64. Brazil Compensation Software Market by Industry Vertical, 2019-2030, $ mn 125
Table 65. Chile Compensation Software Market by Offering, 2019-2030, $ mn 127
Table 66. Chile Compensation Software Market by Deployment Mode, 2019-2030, $ mn 127
Table 67. Chile Compensation Software Market by Industry Vertical, 2019-2030, $ mn 127
Table 68. MEA Compensation Software Market by Country, 2019-2030, $ mn 131
Table 69. UAE Compensation Software Market by Offering, 2019-2030, $ mn 133
Table 70. UAE Compensation Software Market by Deployment Mode, 2019-2030, $ mn 133
Table 71. UAE Compensation Software Market by Industry Vertical, 2019-2030, $ mn 133
Table 72. Saudi Arabia Compensation Software Market by Offering, 2019-2030, $ mn 135
Table 73. Saudi Arabia Compensation Software Market by Deployment Mode, 2019-2030, $ mn 135
Table 74. Saudi Arabia Compensation Software Market by Industry Vertical, 2019-2030, $ mn 135
Table 75. South Africa Compensation Software Market by Offering, 2019-2030, $ mn 137
Table 76. South Africa Compensation Software Market by Deployment Mode, 2019-2030, $ mn 137
Table 77. South Africa Compensation Software Market by Industry Vertical, 2019-2030, $ mn 137
Table 78. Breakdown of Global Market by Key Vendor, 2019, % 141
Table 79. ADP: Company Snapshot 145
Table 80. ADP: Business Segmentation 145
Table 81. ADP: Product Portfolio 146
Table 82. ADP: Revenue, 2016-2018, $ mn 146
Table 83. ADP: Recent Developments 146
Table 84. Risk Evaluation for Investing in Global Market, 2019-2030 168
Table 85. Critical Success Factors and Key Takeaways 171
List of Figures
Figure 1. Research Method Flow Chart 12Figure 2. Breakdown of Primary Research 14
Figure 3. Bottom-up Approach and Top-down Approach for Market Estimation 16
Figure 4. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2019-2030 18
Figure 5. Global Compensation Software Market, 2019-2030, $ mn 21
Figure 6. Impact of COVID-19 on Business 23
Figure 7. Primary Drivers and Impact Factors of Global Compensation Software Market 25
Figure 8. Primary Restraints and Impact Factors of Global Compensation Software Market 28
Figure 9. Investment Opportunity Analysis 32
Figure 10. Porter’s Fiver Forces Analysis of Global Compensation Software Market 35
Figure 11. Breakdown of Global Compensation Software Market by Offering, 2019-2030, % of Revenue 39
Figure 12. Global Addressable Market Cap in 2020-2030 by Offering, Value ($ mn) and Share (%) 40
Figure 13. Global Compensation Software Market: Service, 2019-2030, $ mn 41
Figure 14. Global Compensation Software Market: Managed Services, 2019-2030, $ mn 42
Figure 15. Global Compensation Software Market: Professional Services, 2019-2030, $ mn 43
Figure 16. Global Compensation Software Market: Solution, 2019-2030, $ mn 45
Figure 17. Breakdown of Global Compensation Software Market by Deployment Mode, 2019-2030, % of Sales Revenue 46
Figure 18. Global Addressable Market Cap in 2020-2030 by Deployment Mode, Value ($ mn) and Share (%) 47
Figure 19. Global Compensation Software Market: Cloud Based Product, 2019-2030, $ mn 48
Figure 20. Global Compensation Software Market: On Premises Product, 2019-2030, $ mn 49
Figure 21. Breakdown of Global Compensation Software Market by End User, 2019-2030, % of Sales Revenue 50
Figure 22. Global Addressable Market Cap in 2020-2030 by End User, Value ($ mn) and Share (%) 51
Figure 23. Global Compensation Software Market: Large Enterprises, 2019-2030, $ mn 52
Figure 24. Global Compensation Software Market: SMEs, 2019-2030, $ mn 53
Figure 25. Global Compensation Software Market: Educational Organizations, 2019-2030, $ mn 54
Figure 26. Global Compensation Software Market: Government Institutions, 2019-2030, $ mn 55
Figure 27. Breakdown of Global Compensation Software Market by Industry Vertical, 2019-2030, % of Revenue 57
Figure 28. Global Addressable Market Cap in 2020-2030 by Industry Vertical, Value ($ mn) and Share (%) 57
Figure 29. Global Compensation Software Market: Government, 2019-2030, $ mn 58
Figure 30. Global Compensation Software Market: BFSI, 2019-2030, $ mn 59
Figure 31. Global Compensation Software Market: Manufacturing Industry, 2019-2030, $ mn 60
Figure 32. Global Compensation Software Market: IT and Telecom, 2019-2030, $ mn 61
Figure 33. Global Compensation Software Market: Retail Industry, 2019-2030, $ mn 62
Figure 34. Global Compensation Software Market: Energy and Utilities, 2019-2030, $ mn 63
Figure 35. Global Compensation Software Market: Healthcare Industry, 2019-2030, $ mn 64
Figure 36. Global Compensation Software Market: Education, 2019-2030, $ mn 66
Figure 37. Global Compensation Software Market: Other Verticals, 2019-2030, $ mn 67
Figure 38. Global Market Snapshot by Region 68
Figure 39. Geographic Spread of Worldwide Compensation Software Market, 2019-2030, % of Sales Revenue 69
Figure 40. Global Addressable Market Cap in 2020-2030 by Region, Value ($ mn) and Share (%) 70
Figure 41. North American Compensation Software Market, 2019-2030, $ mn 73
Figure 42. Breakdown of North America Compensation Software Market by Country, 2019 and 2030, % of Revenue 74
Figure 43. Contribution to North America 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 75
Figure 44. U.S. Compensation Software Market, 2019-2030, $ mn 77
Figure 45. Canada Compensation Software Market, 2019-2030, $ mn 80
Figure 46. Compensation Software Market in Mexico, 2015-2030, $ mn 82
Figure 47. European Compensation Software Market, 2019-2030, $ mn 85
Figure 48. Breakdown of European Compensation Software Market by Country, 2019 and 2030, % of Revenue 86
Figure 49. Contribution to Europe 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 87
Figure 50. Compensation Software Market in Germany, 2019-2030, $ mn 88
Figure 51. Compensation Software Market in UK, 2019-2030, $ mn 90
Figure 52. Compensation Software Market in France, 2019-2030, $ mn 92
Figure 53. Compensation Software Market in Spain, 2019-2030, $ mn 94
Figure 54. Compensation Software Market in Italy, 2019-2030, $ mn 96
Figure 55. Compensation Software Market in Russia, 2019-2030, $ mn 98
Figure 56. Compensation Software Market in Rest of Europe, 2019-2030, $ mn 100
Figure 57. Asia-Pacific Compensation Software Market, 2019-2030, $ mn 103
Figure 58. Breakdown of APAC Compensation Software Market by Country, 2019 and 2030, % of Revenue 103
Figure 59. Contribution to APAC 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 105
Figure 60. Compensation Software Market in Japan, 2019-2030, $ mn 107
Figure 61. Compensation Software Market in China, 2019-2030, $ mn 109
Figure 62. Compensation Software Market in Australia, 2019-2030, $ mn 111
Figure 63. Compensation Software Market in India, 2019-2030, $ mn 113
Figure 64. Compensation Software Market in South Korea, 2019-2030, $ mn 115
Figure 65. Compensation Software Market in Rest of APAC, 2019-2030, $ mn 117
Figure 66. South America Compensation Software Market, 2019-2030, $ mn 120
Figure 67. Breakdown of South America Compensation Software Market by Country, 2019 and 2030, % of Revenue 120
Figure 68. Contribution to South America 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 121
Figure 69. Compensation Software Market in Argentina, 2019-2030, $ mn 122
Figure 70. Compensation Software Market in Brazil, 2019-2030, $ mn 124
Figure 71. Compensation Software Market in Chile, 2019-2030, $ mn 126
Figure 72. Compensation Software Market in Rest of South America, 2019-2030, $ mn 128
Figure 73. Compensation Software Market in Middle East and Africa (MEA), 2019-2030, $ mn 130
Figure 74. Breakdown of MEA Compensation Software Market by Country, 2019 and 2030, % of Revenue 130
Figure 75. Contribution to MEA 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%) 131
Figure 76. Compensation Software Market in UAE, 2019-2030, $ mn 132
Figure 77. Compensation Software Market in Saudi Arabia, 2019-2030, $ mn 134
Figure 78. Compensation Software Market in South Africa, 2019-2030, $ mn 136
Figure 79. Growth Stage of Global Compensation Software Industry over the Forecast Period 139
Figure 80. Features of Popular Compensation Software Products 142
Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.
In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.
This research methodology has been segmented into following types:
Primary Research:
It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.
Secondary Research:
The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.
Qualitative Research:
It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.
Quantitative Research:
It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.
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