Global Compensation Software Market 2020-2030

Global compensation software market will reach $1,599.8 billion by 2030, growing by 8.5% annually over 2020-2030.

Shift toward data-driven decision making, increasing need for efficient compensation policies and talent retention models, and growing focus on automating pay-scale management processes are some of the key factors supporting the growth of the compensation software market across the world. Compensation software solutions centralize data from all talent management processes and allow organizations to plan and execute a compensation strategy for its employees. Organizations are increasingly deploying these solutions to view and alter related policies, if required, and efficiently plan rewards, bonuses, and promotions for their employees. 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. Reps are motivated by knowing their future earnings because they may see their potential commissions based on existing deals. Many companies are using spreadsheets to keep track of their commission records. The limited efficiency of excel is leading to problems like data repeating, unclear commission agreements, and overpayments which demotivate sales reps and affect the sales of the enterprises. As a result, many enterprises are considering implementing sale compensation software as they can solve all the limitations of spreadsheets and eliminate errors leading to price erosion, and make enterprises to deliver efficient sales compensation, which will drive the market in the coming years. Due to the presence of a large number of market players, the global compensation software market is highly competitive in nature. In recent years, players in the market have taken several strategic measures, including mergers and acquisitions, partnerships, and product launches, to strengthen their foothold. Based on the kind of deployment, the market has been separated into on-premises and cloud models. Between the two, the cloud category is anticipated to experience faster market expansion during the anticipated timeframe (2020–2030). Increased scalability and speed, as well as 24x7 services and improved management capabilities, are all features of cloud deployment. Additionally, because cloud deployment doesn't need any hardware, it lowers operational costs for businesses. The market has been divided into on-premises and cloud models on the basis of deployment type. Of the two, the cloud category is expected to witness faster growth in the market during the forecast period (2020–2030). Cloud deployment offers higher scalability and speed, in addition to facilitating 24X7 services and enhanced management capabilities. Moreover, as cloud deployment does not require any hardware investment, it helps reduce the operational expenditure of companies. Regulations pertaining to data and hosting, as well as a lack of privacy and data security in cloud-based software, are predicted to impede industry expansion. The majority of cloud-based services involve a third party, who may disclose the user's information to others. This security risk is a problem with cloud-based software that is also impeding the expansion of the market for sales compensation software. Growing focus on automating pay-scale management processes is one of the key factors supporting the growth of the compensation software market worldwide. Compensation planning is an essential element of any successful business. Organizations may boost productivity, workforce engagement, employee retention, and the hiring of new talent by making strategic pay-scale decisions. Employee pay grades are manually calculated and tracked, which takes a lot of time and increases the chance of error. As a result, businesses are rapidly implementing compensation management software to automate and streamline their compensation processes with a low risk of error. The market has been divided into banking, financial services and insurance (BFSI), manufacturing, information technology (IT) & telecom, healthcare, education, energy & utilities, government, retail, and others, which include automotive, hospitality, oil & gas, entertainment, and logistics, in accordance with vertical. In 2019, BFSI had the greatest market share for compensation software of all of them. The demand for compensation management solutions among financial businesses is growing as they place more emphasis on talent scouting and employee engagement for improved performance. This is because incentive plans that are in line with their strategy must be developed. These solutions aid these businesses in retaining staff and boosting output.

Impact of COVID-19 
The pandemic adversely affected the Compensation software market of the world. This phenomena created both positive and negative effects on the market, the positive effect was the rapid surge in digitalisation of different organisational practices like the compensation management in this case led to the growth of the market. this was further fuelled by the ability of the software to monitor the performance of the employees remotely, which turned out to be specifically helpful for the work from home situation. On the other spectrum the market also was obstructed due to the inconsistent economic condition and declining sales of the consumer companies. This factor steered the consumers to cut down on expenses which are not crucial for functioning. Along with this the cost of maintenance factored in created an even obstruction for the Compensation software market. 

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 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. 

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. 

By Offering 
     • Service
          • Managed Services
          • Professional Services (further segmented into Design and Implementation, Consulting, Training and Education, Support and Maintenance)
     • Solution 

By Deployment Mode 
     • Cloud Based Product
     • On Premises Product

By End User
     • Large Enterprises
     • SMEs
     • Educational Organizations
     • Government Institutions

By Industry Vertical
     • Government
     • BFSI
     • Manufacturing Industry
     • IT and Telecom
     • Retail Industry
     • Energy and Utilities
     • Healthcare Industry
     • Education
     • Other Verticals

By Geography
     • 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 2020-2030. 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.)

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Table of Contents

  • 1. Introduction
  • 1.1. Industry Definition and Research Scope
  • 1.1.1. Industry Definition
  • 1.1.2. Research Scope
  • 1.2. Research Methodology
  • 1.2.1. Overview of Market Research Methodology
  • 1.2.2. Market Assumption
  • 1.2.3. Secondary Data
  • 1.2.4. Primary Data
  • 1.2.5. Data Filtration and Model Design
  • 1.2.6. Market Size/Share Estimation
  • 1.2.7. Research Limitations
  • 1.3. Executive Summary
  • 2. Market Overview and Dynamics
  • 2.1. Market Size and Forecast
  • 2.1.1. Impact of COVID-19 on the Market
  • 2.2. Major Growth Drivers
  • 2.3. Market Restraints and Challenges
  • 2.4. Emerging Opportunities and Market Trends
  • 2.5. Porter’s Fiver Forces Analysis
  • 3. Segmentation of Global Market by Offering
  • 3.1. Market Overview by Offering
  • 3.2. Service
  • 3.2.1. Managed Services
  • 3.2.2. Professional Services
  • 3.3. Solution
  • 4. Segmentation of Global Market by Deployment Mode
  • 4.1. Market Overview by Deployment Mode
  • 4.2. Cloud Based Product
  • 4.3. On Premises Product
  • 5. Segmentation of Global Market by End User
  • 5.1. Market Overview by End User
  • 5.2. Large Enterprises
  • 5.3. SMEs
  • 5.4. Educational Organizations
  • 5.5. Government Institutions
  • 6. Segmentation of Global Market by Industry Vertical
  • 6.1. Market Overview by Industry Vertical
  • 6.2. Government
  • 6.3. BFSI
  • 6.4. Manufacturing Industry
  • 6.5. IT and Telecom
  • 6.6. Retail Industry
  • 6.7. Energy and Utilities
  • 6.8. Healthcare Industry
  • 6.9. Education
  • 6.10. Other Verticals
  • 7. Segmentation of Global Market by Region
  • 7.1. Geographic Market Overview 2019-2030
  • 7.2. North America Market 2019-2030 by Country
  • 7.2.1. Overview of North America Market
  • 7.2.2. U.S.
  • 7.2.3. Canada
  • 7.2.4. Mexico
  • 7.3. European Market 2019-2030 by Country
  • 7.3.1. Overview of European Market
  • 7.3.2. Germany
  • 7.3.3. UK
  • 7.3.4. France
  • 7.3.5. Spain
  • 7.3.6. Italy
  • 7.3.7. Russia
  • 7.3.8. Rest of European Market
  • 7.4. Asia-Pacific Market 2019-2030 by Country
  • 7.4.1. Overview of Asia-Pacific Market
  • 7.4.2. Japan
  • 7.4.3. China
  • 7.4.4. Australia
  • 7.4.5. India
  • 7.4.6. South Korea
  • 7.4.7. Rest of APAC Region
  • 7.5. South America Market 2019-2030 by Country
  • 7.5.1. Argentina
  • 7.5.2. Brazil
  • 7.5.3. Chile
  • 7.5.4. Rest of South America Market
  • 7.6. MEA Market 2019-2030 by Country
  • 7.6.1. UAE
  • 7.6.2. Saudi Arabia
  • 7.6.3. South Africa
  • 7.6.4. Other National Markets
  • 8. Competitive Landscape
  • 8.1. Overview of Key Vendors
  • 8.2. New Product Launch, Partnership, Investment, and M&A
  • 8.3. Company Profiles
  • 8.3.1. ADP
  • 8.3.2. Beqom
  • 8.3.3. Bullseye Engagement LLC
  • 8.3.4. Cornerstone
  • 8.3.5. CuroComp
  • 8.3.6. CWS Software
  • 8.3.7. Decusoft
  • 8.3.8. Greytip Software
  • 8.3.9. Halogen Software
  • 8.3.10. HRToolbench
  • 8.3.11. IBM.
  • 8.3.12. Nitso Technologies
  • 8.3.13. Oracle Corporation
  • 8.3.14. PayScale, Inc.
  • 8.3.15. PeopleTicker
  • 8.3.16. Saba Software Inc.
  • 8.3.17. SAP Success Factors
  • 8.3.18. SecureSheet
  • 8.3.19. The Ultimate Software Group, Inc.
  • 8.3.20. Willis Towers Watson
  • 8.3.21. Workday
  • 9 Investing in Global Market: Risk Assessment and Management
  • 9.1 Risk Evaluation of Global Market
  • 9.2 Critical Success Factors (CSFs)
  • Related Reports and Products

List of Tables

Table 1. Snapshot of Europe Oral Antibiotics Market, 2020-2030
Table 2. Main Product Trends and Market Opportunities in Europe Oral Antibiotics Market
Table 3. Europe Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 4. Europe Oral Antibiotics Market: Cephalosporin by Molecule, 2020-2030, $ mn
Table 5. Europe Oral Antibiotics Market by Action Mechanism, 2020-2030, $ mn
Table 6. Europe Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 7. Europe Oral Antibiotics Market by Activity Spectrum, 2020-2030, $ mn
Table 8. Europe Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 9. Europe Oral Antibiotics Market: Dental Infections by Type, 2020-2030, $ mn
Table 10. Europe Oral Antibiotics Market: Respiratory Tract Infections (RTIS) by Type, 2020-2030, $ mn
Table 11. Europe Oral Antibiotics Market by Drug Type, 2020-2030, $ bn
Table 12. Europe Oral Antibiotics Market by Country, 2020-2030, $ bn
Table 13. Germany Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 14. Germany Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 15. Germany Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 16. UK Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 17. UK Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 18. UK Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 19. France Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 20. France Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 21. France Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 22. Spain Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 23. Spain Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 24. Spain Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 25. Italy Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 26. Italy Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 27. Italy Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 28. Russia Oral Antibiotics Market by Drug Class, 2020-2030, $ mn
Table 29. Russia Oral Antibiotics Market by Drug Origin, 2020-2030, $ mn
Table 30. Russia Oral Antibiotics Market by Application, 2020-2030, $ mn
Table 31. Oral Antibiotics Market in Rest of Europe by Country, 2020-2030, $ bn
Table 32. Abbott Laboratories: Company Snapshot
Table 33. Abbott Laboratories: Business Segmentation
Table 34. Abbott Laboratories: Product Portfolio
Table 35. Abbott Laboratories: Revenue, 2018-2021, $ mn
Table 36. Abbott Laboratories: Recent Developments
Table 37. Risk Evaluation for Investing in Europe Market, 2020-2030
Table 38. Critical Success Factors and Key Takeaways

List of Figures

Figure 1. Research Method Flow Chart
Figure 2. Breakdown of Primary Research
Figure 3. Bottom-up Approach and Top-down Approach for Market Estimation
Figure 4. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2030
Figure 5. Global Compensation Software Market, 2020-2030, $ mn
Figure 6. Impact of COVID-19 on Business
Figure 7. Primary Drivers and Impact Factors of Global Compensation Software Market
Figure 8. Primary Restraints and Impact Factors of Global Compensation Software Market
Figure 9. Investment Opportunity Analysis
Figure 10. Porter’s Fiver Forces Analysis of Global Compensation Software Market
Figure 11. Breakdown of Global Compensation Software Market by Offering, 2020-2030, % of Revenue
Figure 12. Global Addressable Market Cap in 2020-2030 by Offering, Value ($ mn) and Share (%)
Figure 13. Global Compensation Software Market: Service, 2020-2030, $ mn
Figure 14. Global Compensation Software Market: Managed Services, 2020-2030, $ mn
Figure 15. Global Compensation Software Market: Professional Services, 2020-2030, $ mn
Figure 16. Global Compensation Software Market: Solution, 2020-2030, $ mn
Figure 17. Breakdown of Global Compensation Software Market by Deployment Mode, 2020-2030, % of Sales Revenue
Figure 18. Global Addressable Market Cap in 2020-2030 by Deployment Mode, Value ($ mn) and Share (%)
Figure 19. Global Compensation Software Market: Cloud Based Product, 2020-2030, $ mn
Figure 20. Global Compensation Software Market: On Premises Product, 2020-2030, $ mn
Figure 21. Breakdown of Global Compensation Software Market by End User, 2020-2030, % of Sales Revenue
Figure 22. Global Addressable Market Cap in 2020-2030 by End User, Value ($ mn) and Share (%)
Figure 23. Global Compensation Software Market: Large Enterprises, 2020-2030, $ mn
Figure 24. Global Compensation Software Market: SMEs, 2020-2030, $ mn
Figure 25. Global Compensation Software Market: Educational Organizations, 2020-2030, $ mn
Figure 26. Global Compensation Software Market: Government Institutions, 2020-2030, $ mn
Figure 27. Breakdown of Global Compensation Software Market by Industry Vertical, 2020-2030, % of Revenue
Figure 28. Global Addressable Market Cap in 2020-2030 by Industry Vertical, Value ($ mn) and Share (%)
Figure 29. Global Compensation Software Market: Government, 2020-2030, $ mn
Figure 30. Global Compensation Software Market: BFSI, 2020-2030, $ mn
Figure 31. Global Compensation Software Market: Manufacturing Industry, 2020-2030, $ mn
Figure 32. Global Compensation Software Market: IT and Telecom, 2020-2030, $ mn
Figure 33. Global Compensation Software Market: Retail Industry, 2020-2030, $ mn
Figure 34. Global Compensation Software Market: Energy and Utilities, 2020-2030, $ mn
Figure 35. Global Compensation Software Market: Healthcare Industry, 2020-2030, $ mn
Figure 36. Global Compensation Software Market: Education, 2020-2030, $ mn
Figure 37. Global Compensation Software Market: Other Verticals, 2020-2030, $ mn
Figure 38. Global Market Snapshot by Region
Figure 39. Geographic Spread of Worldwide Compensation Software Market, 2020-2030, % of Sales Revenue
Figure 40. Global Addressable Market Cap in 2020-2030 by Region, Value ($ mn) and Share (%)
Figure 41. North American Compensation Software Market, 2020-2030, $ mn
Figure 42. Breakdown of North America Compensation Software Market by Country, 2020 and 2030, % of Revenue
Figure 43. Contribution to North America 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 44. U.S. Compensation Software Market, 2020-2030, $ mn
Figure 45. Canada Compensation Software Market, 2020-2030, $ mn
Figure 46. Compensation Software Market in Mexico, 2015-2030, $ mn
Figure 47. European Compensation Software Market, 2020-2030, $ mn
Figure 48. Breakdown of European Compensation Software Market by Country, 2020 and 2030, % of Revenue
Figure 49. Contribution to Europe 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 50. Compensation Software Market in Germany, 2020-2030, $ mn
Figure 51. Compensation Software Market in UK, 2020-2030, $ mn
Figure 52. Compensation Software Market in France, 2020-2030, $ mn
Figure 53. Compensation Software Market in Spain, 2020-2030, $ mn
Figure 54. Compensation Software Market in Italy, 2020-2030, $ mn
Figure 55. Compensation Software Market in Russia, 2020-2030, $ mn
Figure 56. Compensation Software Market in Rest of Europe, 2020-2030, $ mn
Figure 57. Asia-Pacific Compensation Software Market, 2020-2030, $ mn
Figure 58. Breakdown of APAC Compensation Software Market by Country, 2020 and 2030, % of Revenue
Figure 59. Contribution to APAC 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 60. Compensation Software Market in Japan, 2020-2030, $ mn
Figure 61. Compensation Software Market in China, 2020-2030, $ mn
Figure 62. Compensation Software Market in Australia, 2020-2030, $ mn
Figure 63. Compensation Software Market in India, 2020-2030, $ mn
Figure 64. Compensation Software Market in South Korea, 2020-2030, $ mn
Figure 65. Compensation Software Market in Rest of APAC, 2020-2030, $ mn
Figure 66. South America Compensation Software Market, 2020-2030, $ mn
Figure 67. Breakdown of South America Compensation Software Market by Country, 2020 and 2030, % of Revenue
Figure 68. Contribution to South America 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 69. Compensation Software Market in Argentina, 2020-2030, $ mn
Figure 70. Compensation Software Market in Brazil, 2020-2030, $ mn
Figure 71. Compensation Software Market in Chile, 2020-2030, $ mn
Figure 72. Compensation Software Market in Rest of South America, 2020-2030, $ mn
Figure 73. Compensation Software Market in Middle East and Africa (MEA), 2020-2030, $ mn
Figure 74. Breakdown of MEA Compensation Software Market by Country, 2020 and 2030, % of Revenue
Figure 75. Contribution to MEA 2020-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 76. Compensation Software Market in UAE, 2020-2030, $ mn
Figure 77. Compensation Software Market in Saudi Arabia, 2020-2030, $ mn
Figure 78. Compensation Software Market in South Africa, 2020-2030, $ mn
Figure 79. Growth Stage of Global Compensation Software Industry over the Forecast Period
Figure 80. Features of Popular Compensation Software Products

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Global Compensation Software Market 2020-2030

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