Compensation Software Market Size to Grow by USD 5.21 billion | Pricing Strategies to Drive Growth | Technavio

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.

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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.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Deployment

• 5.1 Market segments
• Exhibit 24: Chart on Deployment - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Deployment - Market share 2021-2026 (%)

• 5.2 Comparison by Deployment
• Exhibit 26: Chart on Comparison by Deployment
• 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

• 6.1 Customer landscape overview
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 40: Chart on Geographic comparison
• 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

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Automatic Data Processing Inc.
• Exhibit 89: Automatic Data Processing Inc. - Overview
• Exhibit 90: Automatic Data Processing Inc. - Business segments
• Exhibit 91: Automatic Data Processing Inc. - Key news
• Exhibit 92: Automatic Data Processing Inc. - Key offerings
• Exhibit 93: Automatic Data Processing Inc. - Segment focus

• 10.4 beqom SA
• Exhibit 94: beqom SA - Overview
• Exhibit 95: beqom SA - Product / Service
• Exhibit 96: beqom SA - Key news
• Exhibit 97: beqom SA - Key offerings

• 10.5 BullseyeEngagement LLC
• Exhibit 98: BullseyeEngagement LLC - Overview
• Exhibit 99: BullseyeEngagement LLC - Product / Service
• Exhibit 100: BullseyeEngagement LLC - Key news
• Exhibit 101: BullseyeEngagement LLC - Key offerings

• 10.6 Cornerstone
• Exhibit 102: Cornerstone - Overview
• Exhibit 103: Cornerstone - Product / Service
• Exhibit 104: Cornerstone - Key news
• Exhibit 105: Cornerstone - Key offerings

• 10.7 CWS Software
• Exhibit 106: CWS Software - Overview
• Exhibit 107: CWS Software - Product / Service
• Exhibit 108: CWS Software - Key offerings

• 10.8 Greytip Software Pvt. Ltd.
• Exhibit 109: Greytip Software Pvt. Ltd. - Overview
• Exhibit 110: Greytip Software Pvt. Ltd. - Product / Service
• Exhibit 111: Greytip Software Pvt. Ltd. - Key offerings

• 10.9 Oracle Corp.
• Exhibit 112: Oracle Corp. - Overview
• Exhibit 113: Oracle Corp. - Business segments
• Exhibit 114: Oracle Corp. - Key news
• Exhibit 115: Oracle Corp. - Key offerings
• Exhibit 116: Oracle Corp. - Segment focus

• 10.10 SAP SE
• Exhibit 117: SAP SE - Overview
• Exhibit 118: SAP SE - Business segments
• Exhibit 119: SAP SE - Key news
• Exhibit 120: SAP SE - Key offerings
• Exhibit 121: SAP SE - Segment focus

• 10.11 UKG Inc.
• Exhibit 122: UKG Inc. - Overview
• Exhibit 123: UKG Inc. - Product / Service
• Exhibit 124: UKG Inc. - Key offerings

• 10.12 Workday Inc.
• Exhibit 125: Workday Inc. - Overview
• Exhibit 126: Workday Inc. - Product / Service
• Exhibit 127: Workday Inc. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 128: Inclusions checklist
• Exhibit 129: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 130: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 131: Research methodology
• Exhibit 132: Validation techniques employed for market sizing
• Exhibit 133: Information sources

• 11.5 List of abbreviations
• Exhibit 134: List of abbreviations

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