The Latin America, Middle East and Africa Cloud Based Payroll Software Market would witness market growth of 9.4% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Cloud Based Payroll Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $331.2 million by 2031. The Argentina market is showcasing a CAGR of 10% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 8.2% during (2024 - 2031).
The expansion of multi-country payroll solutions directly responds to globalization and the increasing trend of remote hiring. Businesses across multiple countries face challenges handling different tax regulations, labor laws, and currency exchanges, making traditional payroll systems inefficient. Cloud-based payroll platforms simplify this complexity by automating multi-currency salary processing, tax deductions, and compliance tracking, ensuring accurate payments across different regions.
Furthermore, cloud-based multi-country payroll solutions consolidate payroll operations into a centralized system, enabling HR teams to seamlessly manage salaries, tax filings, and compliance requirements across multiple locations. Companies like Google and Microsoft, which employ workers globally, rely on such systems to track payroll expenses and generate unified reports for financial planning.
The LAMEA region is experiencing significant growth in cloud-based payroll software adoption, driven by industry-specific automation needs and government-led digital transformation initiatives. The manufacturing sector in the UAE and the broader Middle East is witnessing a surge in cloud-based payroll adoption, fueled by rapid industrial expansion and workforce digitalization initiatives. According to the International Trade Administration, the Abu Dhabi Department of Economic Development (ADDED) launched a Smart Manufacturing initiative in October 2021 to drive economic diversification and attract foreign investments. This initiative aligns with the UAE’s federal Industry 4.0 strategy, which aims to increase manufacturing output by 30% and contribute $6.8 billion to GDP by 2031. Additionally, the Wages Protection System (WPS), mandated by the UAE Ministry of Human Resources and Emiratisation (MOHRE), requires businesses to process salaries through secure, automated payroll platforms, pushing manufacturers to adopt cloud-based payroll solutions. Hence, with businesses seeking efficient, secure, and legally compliant payroll management, the LAMEA cloud based payroll software market is poised for substantial growth in the coming years.
Free Valuable Insights: The Worldwide Cloud Based Payroll Software Market is Projected to reach USD 14.82 Billion by 2031, at a CAGR of 7.1%
Based on Component, the market is segmented into Software and Services. Based on Organization Size, the market is segmented into Small & Medium Enterprises and Large Enterprises. Based on Industry Vertical, the market is segmented into BFSI, Manufacturing, Telecom & IT, Healthcare, Retail, Hospitality, and Other Industry Vertical. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
- ADP, Inc.
- The Sage Group plc
- Unit4 N.V. (Advent International)
- TELUS International
- SAP SE
- Iris Software Group Limited
- UKG Inc.
- Oracle Corporation
- Paycom Software, Inc.
- Dayforce, Inc.
LAMEA Cloud Based Payroll Software Market Report Segmentation
By Component
By Organization Size
- Small & Medium Enterprises
- Large Enterprises
By Industry Vertical
- BFSI
- Manufacturing
- Telecom & IT
- Healthcare
- Retail
- Hospitality
- Other Industry Vertical
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Cloud Based Payroll Software Market, by Component
1.4.2 LAMEA Cloud Based Payroll Software Market, by Organization Size
1.4.3 LAMEA Cloud Based Payroll Software Market, by Industry Vertical
1.4.4 LAMEA Cloud Based Payroll Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2023
4.2 Strategies Deployed in Cloud Based Payroll Software Market
4.3 Porter Five Forces Analysis
Chapter 5. LAMEA Cloud Based Payroll Software Market by Component
5.1 LAMEA Software Market by Country
5.2 LAMEA Services Market by Country
Chapter 6. LAMEA Cloud Based Payroll Software Market by Organization Size
6.1 LAMEA Small & Medium Enterprises Market by Country
6.2 LAMEA Large Enterprises Market by Country
Chapter 7. LAMEA Cloud Based Payroll Software Market by Industry Vertical
7.1 LAMEA BFSI Market by Country
7.2 LAMEA Manufacturing Market by Country
7.3 LAMEA Telecom & IT Market by Country
7.4 LAMEA Healthcare Market by Country
7.5 LAMEA Retail Market by Country
7.6 LAMEA Hospitality Market by Country
7.7 LAMEA Other Industry Vertical Market by Country
Chapter 8. LAMEA Cloud Based Payroll Software Market by Country
8.1 Brazil Cloud Based Payroll Software Market
8.1.1 Brazil Cloud Based Payroll Software Market by Component
8.1.2 Brazil Cloud Based Payroll Software Market by Organization Size
8.1.3 Brazil Cloud Based Payroll Software Market by Industry Vertical
8.2 Argentina Cloud Based Payroll Software Market
8.2.1 Argentina Cloud Based Payroll Software Market by Component
8.2.2 Argentina Cloud Based Payroll Software Market by Organization Size
8.2.3 Argentina Cloud Based Payroll Software Market by Industry Vertical
8.3 UAE Cloud Based Payroll Software Market
8.3.1 UAE Cloud Based Payroll Software Market by Component
8.3.2 UAE Cloud Based Payroll Software Market by Organization Size
8.3.3 UAE Cloud Based Payroll Software Market by Industry Vertical
8.4 Saudi Arabia Cloud Based Payroll Software Market
8.4.1 Saudi Arabia Cloud Based Payroll Software Market by Component
8.4.2 Saudi Arabia Cloud Based Payroll Software Market by Organization Size
8.4.3 Saudi Arabia Cloud Based Payroll Software Market by Industry Vertical
8.5 South Africa Cloud Based Payroll Software Market
8.5.1 South Africa Cloud Based Payroll Software Market by Component
8.5.2 South Africa Cloud Based Payroll Software Market by Organization Size
8.5.3 South Africa Cloud Based Payroll Software Market by Industry Vertical
8.6 Nigeria Cloud Based Payroll Software Market
8.6.1 Nigeria Cloud Based Payroll Software Market by Component
8.6.2 Nigeria Cloud Based Payroll Software Market by Organization Size
8.6.3 Nigeria Cloud Based Payroll Software Market by Industry Vertical
8.7 Rest of LAMEA Cloud Based Payroll Software Market
8.7.1 Rest of LAMEA Cloud Based Payroll Software Market by Component
8.7.2 Rest of LAMEA Cloud Based Payroll Software Market by Organization Size
8.7.3 Rest of LAMEA Cloud Based Payroll Software Market by Industry Vertical
Chapter 9. Company Profiles
9.1 ADP, Inc.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.1 Research & Development Expense
9.1.2 Recent strategies and developments:
9.1.2.1 Partnerships, Collaborations, and Agreements:
9.1.2.2 Product Launches and Product Expansions:
9.2 The Sage Group plc
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental Analysis
9.2.4 Research & Development Expenses
9.2.5 Recent strategies and developments:
9.2.5.1 Product Launches and Product Expansions:
9.2.6 SWOT Analysis
9.3 Unit4 N.V. (Advent International)
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Acquisition and Mergers:
9.4 TELUS International
9.4.1 Company Overview
9.4.2 Financial Analysis
9.5 SAP SE
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.6 SWOT Analysis
9.6 IRIS Software Group Limited
9.6.1 Company Overview
9.6.2 Recent strategies and developments:
9.6.2.1 Acquisition and Mergers:
9.7 UKG, Inc.
9.7.1 Company Overview
9.7.2 SWOT Analysis
9.8 Oracle Corporation
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expense
9.8.5 SWOT Analysis
9.9 Paycom Software, Inc.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Research & Development Expenses
9.10. Dayforce, Inc.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Regional Analysis
9.10.4 Research & Development Expenses
9.10.5 Recent strategies and developments:
9.10.5.1 Product Launches and Product Expansions:
9.10.5.2 Acquisition and Mergers:
9.10.6 SWOT Analysis
TABLE 1 LAMEA Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 2 LAMEA Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 3 LAMEA Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 4 LAMEA Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 5 LAMEA Software Market by Country, 2020 - 2023, USD Million
TABLE 6 LAMEA Software Market by Country, 2024 - 2031, USD Million
TABLE 7 LAMEA Services Market by Country, 2020 - 2023, USD Million
TABLE 8 LAMEA Services Market by Country, 2024 - 2031, USD Million
TABLE 9 LAMEA Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 10 LAMEA Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 11 LAMEA Small & Medium Enterprises Market by Country, 2020 - 2023, USD Million
TABLE 12 LAMEA Small & Medium Enterprises Market by Country, 2024 - 2031, USD Million
TABLE 13 LAMEA Large Enterprises Market by Country, 2020 - 2023, USD Million
TABLE 14 LAMEA Large Enterprises Market by Country, 2024 - 2031, USD Million
TABLE 15 LAMEA Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 16 LAMEA Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 17 LAMEA BFSI Market by Country, 2020 - 2023, USD Million
TABLE 18 LAMEA BFSI Market by Country, 2024 - 2031, USD Million
TABLE 19 LAMEA Manufacturing Market by Country, 2020 - 2023, USD Million
TABLE 20 LAMEA Manufacturing Market by Country, 2024 - 2031, USD Million
TABLE 21 LAMEA Telecom & IT Market by Country, 2020 - 2023, USD Million
TABLE 22 LAMEA Telecom & IT Market by Country, 2024 - 2031, USD Million
TABLE 23 LAMEA Healthcare Market by Country, 2020 - 2023, USD Million
TABLE 24 LAMEA Healthcare Market by Country, 2024 - 2031, USD Million
TABLE 25 LAMEA Retail Market by Country, 2020 - 2023, USD Million
TABLE 26 LAMEA Retail Market by Country, 2024 - 2031, USD Million
TABLE 27 LAMEA Hospitality Market by Country, 2020 - 2023, USD Million
TABLE 28 LAMEA Hospitality Market by Country, 2024 - 2031, USD Million
TABLE 29 LAMEA Other Industry Vertical Market by Country, 2020 - 2023, USD Million
TABLE 30 LAMEA Other Industry Vertical Market by Country, 2024 - 2031, USD Million
TABLE 31 LAMEA Cloud Based Payroll Software Market by Country, 2020 - 2023, USD Million
TABLE 32 LAMEA Cloud Based Payroll Software Market by Country, 2024 - 2031, USD Million
TABLE 33 Brazil Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 34 Brazil Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 35 Brazil Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 36 Brazil Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 37 Brazil Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 38 Brazil Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 39 Brazil Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 40 Brazil Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 41 Argentina Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 42 Argentina Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 43 Argentina Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 44 Argentina Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 45 Argentina Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 46 Argentina Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 47 Argentina Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 48 Argentina Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 49 UAE Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 50 UAE Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 51 UAE Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 52 UAE Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 53 UAE Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 54 UAE Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 55 UAE Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 56 UAE Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 57 Saudi Arabia Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 58 Saudi Arabia Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 59 Saudi Arabia Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 60 Saudi Arabia Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 61 Saudi Arabia Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 62 Saudi Arabia Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 63 Saudi Arabia Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 64 Saudi Arabia Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 65 South Africa Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 66 South Africa Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 67 South Africa Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 68 South Africa Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 69 South Africa Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 70 South Africa Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 71 South Africa Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 72 South Africa Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 73 Nigeria Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 74 Nigeria Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 75 Nigeria Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 76 Nigeria Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 77 Nigeria Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 78 Nigeria Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 79 Nigeria Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 80 Nigeria Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 81 Rest of LAMEA Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 82 Rest of LAMEA Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 83 Rest of LAMEA Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 84 Rest of LAMEA Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 85 Rest of LAMEA Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 86 Rest of LAMEA Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 87 Rest of LAMEA Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 88 Rest of LAMEA Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 89 Key Information – ADP, Inc.
TABLE 90 Key Information – The Sage Group plc
TABLE 91 Key information – Unit4 N.V.
TABLE 92 Key Information – TELUS International
TABLE 93 Key Information – SAP SE
TABLE 94 Key Information – IRIS Software Group Limited
TABLE 95 Key Information – UKG, Inc.
TABLE 96 Key Information – Oracle Corporation
TABLE 97 Key Information – Paycom Software, Inc.
TABLE 98 Key Information – Dayforce, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Cloud Based Payroll Software Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Cloud Based Payroll Software Market
FIG 4 Market Share Analysis, 2023
FIG 5 Porter’s Five Forces Analysis – Cloud Based Payroll Software Market
FIG 6 LAMEA Cloud Based Payroll Software Market share by Component, 2023
FIG 7 LAMEA Cloud Based Payroll Software Market share by Component, 2031
FIG 8 LAMEA Cloud Based Payroll Software Market by Component, 2020 - 2031, USD Million
FIG 9 LAMEA Cloud Based Payroll Software Market share by Organization Size, 2023
FIG 10 LAMEA Cloud Based Payroll Software Market share by Organization Size, 2031
FIG 11 LAMEA Cloud Based Payroll Software Market by Organization Size, 2020 - 2031, USD Million
FIG 12 LAMEA Cloud Based Payroll Software Market share by Industry Vertical, 2023
FIG 13 LAMEA Cloud Based Payroll Software Market share by Industry Vertical, 2031
FIG 14 LAMEA Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2031, USD Million
FIG 15 LAMEA Cloud Based Payroll Software Market share by Country, 2023
FIG 16 LAMEA Cloud Based Payroll Software Market share by Country, 2031
FIG 17 LAMEA Cloud Based Payroll Software Market by Country, 2020 - 2031, USD Million
FIG 18 Recent strategies and developments: ADP, Inc.
FIG 19 SWOT Analysis: The Sage Group PLC
FIG 20 SWOT Analysis: SAP SE
FIG 21 Swot Analysis: UKG, Inc.
FIG 22 SWOT Analysis: Oracle Corporation
FIG 23 Recent strategies and developments: Dayforce, Inc.
FIG 24 SWOT Analysis: Ceridian HCM Holding, Inc.
