Apr 18, 2022

| Technavio News provided by Share this article Share this article NEW YORK, April 18, 2022 /PRNewswire/ -- The compensation software market size is expected to increase by USD 5.21 bn from 2021 to 2026. However, the growth momentum of the market is expected to decelerate at a CAGR of 10.86% during the forecast period. Attractive Opportunities in Compensation Software Market by Deployment and Geography - Forecast and Analysis 2022-2026 Market Dynamics Vendors' pricing strategies are driving the global compensation software industry growth. Software vendors are adopting customer-centric pricing strategies that are enabled by advances in technology to thrive in a competitive market environment. Customers focus on certain economic and market factors such as ROI, the ability to opt for free models, and the limited IT budgets while implementing the software. Vendors need to accommodate varying customer pricing preferences and budgets. The high price of the software and limited IT budgets have compelled vendors to re-evaluate the software pricing and delivery models. Therefore, vendors are providing SaaS, commercial open-source models, and term licensing to be in sync with the changing demands. The high implementation and maintenance costs are challenging the global compensation software industry growth. The price of the compensation software includes the cost of implementation, training, maintenance, software licensing, system design, and customization. SMEs and start-up enterprises should invest in the proper implementation of the software and training of employees. The software requires continuous upgrading to keep up with the market trends. All these factors lead to a rise in the overall cost of the implementation of compensation software, which adversely affects its adoption among SMEs and start-ups. This, in turn, may affect the market growth in the forecast period. For more information about the drivers and challenges impacting the growth of the market, View our Free Sample Report Now Company Profiles The compensation software market report includes information on the product launches, sustainability, and prospects of leading vendors including Automatic Data Processing Inc., beqom SA, BullseyeEngagement LLC, Cegid Group, Cornerstone, CWS Software, Decusoft Inc., Execupay Inc., Greytip Software Pvt. Ltd., HRSoft, JSM Technologies Pvt. Ltd., Kronos Inc., Learning Technologies Group Inc., Nitso Technologies Pvt. Ltd., Oracle Corp., Paycom Software Inc., Payscale Inc., SAP SE, sumHR Software Pvt. Ltd., Torn Marketing Pty Ltd., UKG Inc., Workday Inc., and CompLogix. Competitive Analysis The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Market Segmentation By deployment, the market is classified into cloud-based compensation software and on-premises compensation software. The cloud-based compensation software segment will contribute the largest share of the market. By geography, the market is classified into North America, Europe, APAC, South America, and the Middle East and Africa. North America will have the largest share of the market. Related Reports Companies profiled Automatic Data Processing Inc., beqom SA, BullseyeEngagement LLC, Cegid Group, Cornerstone, CWS Software, Decusoft Inc., Execupay Inc., Greytip Software Pvt. Ltd., HRSoft, JSM Technologies Pvt. Ltd., Kronos Inc., Learning Technologies Group Inc., Nitso Technologies Pvt. Ltd., Oracle Corp., Paycom Software Inc., Payscale Inc., SAP SE, sumHR Software Pvt. Ltd., Torn Marketing Pty Ltd., UKG Inc., Workday Inc., and CompLogix Market Dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Contents Exhibit 27: Data Table on Comparison by Deployment 5.3 Cloud-based compensation software - Market size and forecast 2021-2026 Exhibit 28: Chart on Cloud-based compensation software - Market size and forecast 2021-2026 ($ million) Exhibit 29: Data Table on Cloud-based compensation software - Market size and forecast 2021-2026 ($ million) Exhibit 30: Chart on Cloud-based compensation software - Year-over-year growth 2021-2026 (%) Exhibit 31: Data Table on Cloud-based compensation software - Year-over-year growth 2021-2026 (%) 5.4 On-premises compensation software - Market size and forecast 2021-2026 Exhibit 32: Chart on On-premises compensation software - Market size and forecast 2021-2026 ($ million) Exhibit 33: Data Table on On-premises compensation software - Market size and forecast 2021-2026 ($ million) Exhibit 34: Chart on On-premises compensation software - Year-over-year growth 2021-2026 (%) Exhibit 35: Data Table on On-premises compensation software - Year-over-year growth 2021-2026 (%) 5.5 Market opportunity by Deployment Exhibit 36: Market opportunity by Deployment ($ million) 6 Customer Landscape Exhibit 41: Data Table on Geographic comparison 7.3 North America - Market size and forecast 2021-2026 Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million) Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million) Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%) Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%) 7.4 Europe - Market size and forecast 2021-2026 Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million) Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million) Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%) Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%) 7.5 APAC - Market size and forecast 2021-2026 Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million) Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million) Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%) Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%) 7.6 South America - Market size and forecast 2021-2026 Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million) Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million) Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%) Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%) 7.7 Middle East and Africa - Market size and forecast 2021-2026 Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million) Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million) Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%) Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%) 7.8 US - Market size and forecast 2021-2026 Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million) Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million) Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%) Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%) 7.9 Germany - Market size and forecast 2021-2026 Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million) Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million) Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%) Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%) 7.10 India - Market size and forecast 2021-2026 Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ million) Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ million) Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%) Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%) 7.11 UK - Market size and forecast 2021-2026 Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million) Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million) Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%) Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%) 7.12 Japan - Market size and forecast 2021-2026 Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million) Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million) Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%) Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%) 7.13 Market opportunity by geography Exhibit 82: Market opportunity by geography ($ million) 8 Drivers, Challenges, and Trends 8.1 Market drivers Exhibit 83: Impact of drivers and challenges in 2021 and 2026 8.4 Market trends 9.3 Landscape disruption 9.4 Industry risks About Us Technavio is a leading global technology research and advisory company. 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