Middle East & Africa Cloud Based Payroll Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Component (Software and Services), Organization Size (Small & Medium Enterprises and Large Enterprises), and Industry Vertical (BFSI, Manufacturing, Healthcare, Telecom and IT, Retail, Hospitality, and Others)
The Middle East & Africa cloud based payroll software market is expected to grow from US$ 680.69 million in 2022 to US$ 1,211.72 million by 2028. It is estimated to grow at a CAGR of 10.1% from 2022 to 2028.
Rise in the Adoption of Cloud-based Payroll Software Across SMEs Fuels Middle East & Africa Cloud Based Payroll Software Market
SMEs increasingly focus on expanding their businesses, and HR teams support enterprises to attain their goals by automating the payroll system. The cloud-based payroll system automates complicated payroll scenarios for accurate and efficient payroll processing. Employees can access all payroll information using self-service portals, even on their mobile phones. Therefore, with a cloud-based payroll system, the HR department can provide a timely response to employee requests regarding salary information, benefits, and information updates. Moreover, business is a dynamic process that is constantly changing, and many small businesses have been utilizing the benefits of cloud-based payroll systems. As cloud software handles all HR administrative responsibilities, SMEs are increasingly focused on adding benefits to the company, mainly across tax calculations. In addition, the software alerts about future tax deadlines and protects organizations from costly litigation and fines by calculating tax liability and making timely payments to employees. Therefore, with a growing number of SMEs, the demand for cloud-based payroll software is anticipated to offer lucrative opportunities to the cloud-based payroll software market in the coming years.
Middle East & Africa Cloud Based Payroll Software Market Overview
The cloud-based payroll software market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The market is expected to grow during the forecast period owing to strict government restrictions toward data protection and cyberattacks due to the development of digitalization in payroll systems. Digital and automated payroll software improves HR functions, helps retain employees by providing smooth payroll management process, and manages human resources; these factors are accelerating the demand for cloud-based payroll systems in the Middle East. BFSI, manufacturing, IT & telecom, and healthcare industries are the major users of cloud-based payroll software, as it allows companies to create custom workflows that support efficient decision-making processes and protect data integrity. To manage several aspects of the workforce for better productivity, the adoption of cloud-based payroll software solutions, such as time and attendance management, task management, HR management, and workforce forecast and schedule, has increased across the industries in the Middle East.
Middle East & Africa Cloud Based Payroll Software Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Cloud Based Payroll Software Market Segmentation
The Middle East & Africa cloud based payroll software market is segmented into component, organization size, industry vertical, and country.
Based on component, the Middle East & Africa cloud based payroll software market is segmented into software and services. The software segment held a larger share of the Middle East & Africa cloud based payroll software market in 2022.
Based on organization size, the Middle East & Africa cloud based payroll software market is segmented into small and medium enterprises and large enterprises. The large enterprises segment held a larger share of the Middle East & Africa cloud based payroll software market in 2022.
Based on industry vertical, the Middle East & Africa cloud based payroll software market is segmented into BFSI, manufacturing, healthcare, telecom and it, retail, hospitality, and others. The BFSI segment held the largest share of the Middle East & Africa cloud based payroll software market in 2022.
Based on country, the Middle East & Africa cloud based payroll software market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The UAE dominated the share of the Middle East & Africa cloud based payroll software market in 2022.
Automatic Data Processing Inc; Ceridian HCM Holdings Inc; Sage Group Plc; and Xero Ltd are the leading companies operating in the Middle East & Africa cloud based payroll software market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Middle East & Africa Cloud Based Payroll Software Market – By Component
1.3.2 Middle East & Africa Cloud Based Payroll Software Market – By Organization Size
1.3.3 Middle East & Africa Cloud Based Payroll Software Market – By Industry Vertical
1.3.4 Middle East & Africa Cloud Based Payroll Software Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Cloud Based Payroll Software Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Middle East & Africa Cloud Based Payroll Software Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rapid Expansion of IT and Telecom Industry
5.1.2 Advantages of Cloud-based Payroll Software Over On-premise Solutions
5.1.3 Ease of System Enhancements and Updates
5.2 Market Restraints
5.2.1 Data Security issues
5.3 Market Opportunities
5.3.1 Rise in the Adoption of Cloud-based Payroll Software Across SMEs
5.4 Future Trends
5.4.1 Rising Trends of AI-Powered Payroll Solutions
5.4.2 Growing Gig Economy Adopting Payroll Software
5.5 Impact Analysis of Drivers and Restraints
6. Cloud Based Payroll Software Market – Middle East & Africa Analysis
6.1 Middle East & Africa Cloud Based Payroll Software Market Overview
6.2 Middle East & Africa Cloud Based Payroll Software Market – Revenue and Forecast to 2028 (US$ Million)
7. Middle East & Africa Cloud Based Payroll Software Market Analysis – By Component
7.1 Overview
7.2 Middle East & Africa Cloud Based Payroll Software Market, By Component (2021 and 2028)
7.3 Software
7.3.1 Overview
7.3.2 Software: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
7.4.2.1 Managed Services
7.4.2.1.1 Overview
7.4.2.1.2 Managed Services: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
7.4.2.2 Professional Services
7.4.2.2.1 Overview
7.4.2.2.2 Professional Services: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
8. Middle East & Africa Cloud Based Payroll Software Market Analysis – By Organization Size
8.1 Overview
8.2 Middle East & Africa Cloud Based Payroll Software Market, By Organization Size (2021 and 2028)
8.3 Large Enterprises
8.3.1 Overview
8.3.2 Large Enterprises: Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Small and Medium Enterprises
8.4.1 Overview
8.4.2 Small and Medium Enterprises: Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9. Middle East & Africa Cloud Based Payroll Software Market Analysis – By Industry Vertical
9.1 Overview
9.2 Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Industry Vertical, 2021 & 2028
9.3 BFSI
9.3.1 Overview
9.3.2 BFSI : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Manufacturing
9.4.1 Overview
9.4.2 Manufacturing : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9.5 Telecom and IT
9.5.1 Overview
9.5.2 Telecom and IT : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9.6 Healthcare
9.6.1 Overview
9.6.2 Healthcare : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9.7 Retail
9.7.1 Overview
9.7.2 Retail : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9.8 Hospitality
9.8.1 Overview
9.8.2 Hospitality : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
10. Middle East & Africa Cloud Based Payroll Software Market – Country Analysis
10.1 Overview
10.1.1 Middle East & Africa Cloud Based Payroll Software Market Breakdown, by Country
10.1.1.1 UAE: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028
10.1.1.1.1 UAE: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Component
10.1.1.1.1.1 UAE: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Services
10.1.1.1.2 UAE: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Organization Size
10.1.1.1.3 UAE: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Industry Vertical
10.1.1.2 Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028
10.1.1.2.1 Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Component
10.1.1.2.1.1 Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Services
10.1.1.2.2 Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Organization Size
10.1.1.2.3 Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Industry Vertical
10.1.1.3 South Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028
10.1.1.3.1 South Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Component
10.1.1.3.1.1 South Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Services
10.1.1.3.2 South Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Organization Size
10.1.1.3.3 South Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Industry Vertical
10.1.1.4 Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028
10.1.1.4.1 Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Component
10.1.1.4.1.1 Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Services
10.1.1.4.2 Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Organization Size
10.1.1.4.3 Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Industry Vertical
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Ceridian HCM Holdings Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Sage Group Plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Automatic Data Processing Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Xero Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Middle East & Africa Cloud Based Payroll Software Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast To 2028 – By Country (US$ Million)
Table 3. UAE: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 4. UAE: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Services (US$ Million)
Table 5. UAE: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 6. UAE: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ Million)
Table 7. Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 8. Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Services (US$ Million)
Table 9. Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 10. Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ Million)
Table 11. South Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 12. South Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Services (US$ Million)
Table 13. South Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 14. South Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ Million)
Table 15. Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 16. Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Services (US$ Million)
Table 17. Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 18. Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ Million)
Table 19. List of Abbreviation
LIST OF FIGURES
Figure 1. Middle East & Africa Cloud Based Payroll Software Market Segmentation
Figure 2. Middle East & Africa Cloud Based Payroll Software Market Segmentation – By Country
Figure 3. Middle East & Africa Cloud Based Payroll Software Market Overview
Figure 4. Software Segment held the Largest Share of Middle East & Africa Cloud Based Payroll Software Market
Figure 5. The UEA to Show Great Traction During Forecast Period
Figure 6. MEA: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Middle East & Africa Cloud Based Payroll Software Market Impact Analysis of Drivers and Restraints
Figure 9. Middle East & Africa Cloud Based Payroll Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Component, 2021 & 2028 (%)
Figure 11. Software: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 12. Services: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 13. Managed Services: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 14. Professional Services: Middle East & Africa Cloud Based Payroll Software Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 15. Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Organization Size, 2021 & 2028 (%)
Figure 16. Large Enterprises: Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. Small and Medium Enterprises: Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. Middle East & Africa Cloud Based Payroll Software Market Breakdown, By Industry Vertical, 2021 & 2028 (%)
Figure 19. BFSI : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 20. Manufacturing : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. Telecom and IT : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. Healthcare : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. Retail : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 24. Hospitality : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others : Middle East & Africa Cloud Based Payroll Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 26. Middle East & Africa Cloud Based Payroll Software Market, by Key Country (2021) (US$ Million)
Figure 27. Middle East & Africa Cloud Based Payroll Software Market Breakdown, by Country, 2021 & 2028 (%)
Figure 28. UAE: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 (US$ Million)
Figure 29. Saudi Arabia: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 (US$ Million)
Figure 30. South Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of Middle East & Africa: Middle East & Africa Cloud Based Payroll Software Market, Revenue and Forecast to 2028 (US$ Million)
- Automatic Data Processing Inc
- Ceridian HCM Holdings Inc
- Sage Group Plc
- Xero Ltd
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