The global compensation software market is expected to reach a substantially large market size in 2027 and register a high CAGR over the forecast period. Industry analysis indicates that rising demand for compensation software in commercial and other applications is driven by changing market trends, which are expected to support industry growth as well as market growth over the forecast period.
Compensation software, also known as human capital management solutions (HCM) software, is a software used for management of employees’ salaries. The software has automated in-built features including administrative incentives, HR policies, open enrollment and life events, attendance and scheduling, tax management, and payroll administration. Compensation software helps an organization deal with the crucial part of talent management and employee retention. Compensation software also provides guidelines for how the salary should be distributed among employees as per their job responsibilities and designation. The compensation software is useful for HR managers of the organization. Demand for compensation software is expected to rise at a considerably high rate in the near future and the existing players are expected to gain a higher market share in the next few years.
Global Compensation Software Market Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2026
Major players in the market include
ADP, Oracle, SAP Success Factors, Ultimate Software, Workday, Bullseye Engagement, Cornerstone, Curo
, CWS Software, Decusoft, Execupay, Grey Tip Software and Harvest HCM
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Some Key Highlights From the Report
In June 2021, Amcor launched dual chamber pouch in Europe for drug and medical device combination packaging. The Dual Chamber Pouch (DCP) of Amcor has already been tested and commercialized in the U.S. The new packaging solution is expected to support healthcare customers in meeting the complex requirements of Compensation Software. It utilizes a high strength foil laminate that protects contents from moisture, light, and oxygen ingress to support drug efficacy and extend shelf life.
Segments Covered in the report:
This report forecasts revenue growth at a global, regional country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data have segmented into the global Compensation Software market on the basis of services, deployment type, organization size, end-user, applications, and region:
By Deployment Type (Revenue, USD Billion; 2017-2027)By Deployment Type (Revenue, USD Billion; 2017-2027)
- Cloud-based Compensation Software
- On-premises Compensation Software
By Application (Revenue, USD Billion; 2017-2027)
By End-use Industry (Revenue, USD Billion; 2017-2027)
- Banking, Financial Services, and Insurance (BFSI)
- Energy Utilities
- Information Technology (IT) Telecom
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