The North America Cloud Based Payroll Software Market would witness market growth of 6.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America 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 $3,699.8 million by 2031. The Canada market is experiencing a CAGR of 8.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8% during (2024 - 2031).
The adoption of blockchain in payroll systems transforms salary management by enhancing transparency, security, and efficiency. Traditional payroll systems often involve intermediaries such as banks and financial institutions, leading to delays, high fees, and security risks. Blockchain eliminates these inefficiencies by enabling tamper-proof, direct salary transactions, reducing payroll disputes and fraud.
The implementation of cloud-based payroll systems is not merely a trend but an essential requirement in the contemporary digital economy. The increasing shift towards remote work fuels the market’s expansion, the rising number of small and medium enterprises (SMEs), and the need for compliance automation.
North America is witnessing a rising demand for cloud-based payroll software, driven by technological advancements, digital transformation, and government-led initiatives supporting automation in various industries. In Mexico, the manufacturing industry is a major contributor to the adoption of cloud payroll solutions, largely due to its expanding industrial workforce and evolving labor laws. According to the Government of Mexico, in the second quarter of 2024, the manufacturing sector's gross domestic product (GDP) was $6.58T MX, with significant investments in advanced manufacturing technologies to enhance productivity. As manufacturing companies expand, there is a growing need for cloud-based payroll software to manage workforce compensation efficiently. With large-scale employment in the sector, businesses are increasingly adopting automated payroll solutions to streamline salary processing, tax compliance, and benefits administration, reducing manual errors and improving operational efficiency. Therefore, as North American companies prioritize data security, compliance automation, and workforce expansion, cloud-based payroll software providers are seeing an unprecedented rise in demand, shaping the future of payroll management across the region.
Free Valuable Insights: The Cloud Based Payroll Software Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
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.
North America 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
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Cloud Based Payroll Software Market, by Component
1.4.2 North America Cloud Based Payroll Software Market, by Organization Size
1.4.3 North America Cloud Based Payroll Software Market, by Industry Vertical
1.4.4 North America 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. North America Cloud Based Payroll Software Market by Component
5.1 North America Software Market by Region
5.2 North America Services Market by Region
Chapter 6. North America Cloud Based Payroll Software Market by Organization Size
6.1 North America Small & Medium Enterprises Market by Country
6.2 North America Large Enterprises Market by Country
Chapter 7. North America Cloud Based Payroll Software Market by Industry Vertical
7.1 North America BFSI Market by Country
7.2 North America Manufacturing Market by Country
7.3 North America Telecom & IT Market by Country
7.4 North America Healthcare Market by Country
7.5 North America Retail Market by Country
7.6 North America Hospitality Market by Country
7.7 North America Other Industry Vertical Market by Country
Chapter 8. North America Cloud Based Payroll Software Market by Country
8.1 US Cloud Based Payroll Software Market
8.1.1 US Cloud Based Payroll Software Market by Component
8.1.2 US Cloud Based Payroll Software Market by Organization Size
8.1.3 US Cloud Based Payroll Software Market by Industry Vertical
8.2 Canada Cloud Based Payroll Software Market
8.2.1 Canada Cloud Based Payroll Software Market by Component
8.2.2 Canada Cloud Based Payroll Software Market by Organization Size
8.2.3 Canada Cloud Based Payroll Software Market by Industry Vertical
8.3 Mexico Cloud Based Payroll Software Market
8.3.1 Mexico Cloud Based Payroll Software Market by Component
8.3.2 Mexico Cloud Based Payroll Software Market by Organization Size
8.3.3 Mexico Cloud Based Payroll Software Market by Industry Vertical
8.4 Rest of North America Cloud Based Payroll Software Market
8.4.1 Rest of North America Cloud Based Payroll Software Market by Component
8.4.2 Rest of North America Cloud Based Payroll Software Market by Organization Size
8.4.3 Rest of North America 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 North America Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 2 North America Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 3 North America Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 4 North America Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 5 North America Software Market by Region, 2020 - 2023, USD Million
TABLE 6 North America Software Market by Region, 2024 - 2031, USD Million
TABLE 7 North America Services Market by Region, 2020 - 2023, USD Million
TABLE 8 North America Services Market by Region, 2024 - 2031, USD Million
TABLE 9 North America Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 10 North America Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 11 North America Small & Medium Enterprises Market by Country, 2020 - 2023, USD Million
TABLE 12 North America Small & Medium Enterprises Market by Country, 2024 - 2031, USD Million
TABLE 13 North America Large Enterprises Market by Country, 2020 - 2023, USD Million
TABLE 14 North America Large Enterprises Market by Country, 2024 - 2031, USD Million
TABLE 15 North America Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 16 North America Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 17 North America BFSI Market by Country, 2020 - 2023, USD Million
TABLE 18 North America BFSI Market by Country, 2024 - 2031, USD Million
TABLE 19 North America Manufacturing Market by Country, 2020 - 2023, USD Million
TABLE 20 North America Manufacturing Market by Country, 2024 - 2031, USD Million
TABLE 21 North America Telecom & IT Market by Country, 2020 - 2023, USD Million
TABLE 22 North America Telecom & IT Market by Country, 2024 - 2031, USD Million
TABLE 23 North America Healthcare Market by Country, 2020 - 2023, USD Million
TABLE 24 North America Healthcare Market by Country, 2024 - 2031, USD Million
TABLE 25 North America Retail Market by Country, 2020 - 2023, USD Million
TABLE 26 North America Retail Market by Country, 2024 - 2031, USD Million
TABLE 27 North America Hospitality Market by Country, 2020 - 2023, USD Million
TABLE 28 North America Hospitality Market by Country, 2024 - 2031, USD Million
TABLE 29 North America Other Industry Vertical Market by Country, 2020 - 2023, USD Million
TABLE 30 North America Other Industry Vertical Market by Country, 2024 - 2031, USD Million
TABLE 31 North America Cloud Based Payroll Software Market by Country, 2020 - 2023, USD Million
TABLE 32 North America Cloud Based Payroll Software Market by Country, 2024 - 2031, USD Million
TABLE 33 US Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 34 US Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 35 US Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 36 US Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 37 US Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 38 US Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 39 US Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 40 US Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 41 Canada Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 42 Canada Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 43 Canada Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 44 Canada Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 45 Canada Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 46 Canada Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 47 Canada Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 48 Canada Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 49 Mexico Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 50 Mexico Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 51 Mexico Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 52 Mexico Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 53 Mexico Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 54 Mexico Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 55 Mexico Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 56 Mexico Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 57 Rest of North America Cloud Based Payroll Software Market, 2020 - 2023, USD Million
TABLE 58 Rest of North America Cloud Based Payroll Software Market, 2024 - 2031, USD Million
TABLE 59 Rest of North America Cloud Based Payroll Software Market by Component, 2020 - 2023, USD Million
TABLE 60 Rest of North America Cloud Based Payroll Software Market by Component, 2024 - 2031, USD Million
TABLE 61 Rest of North America Cloud Based Payroll Software Market by Organization Size, 2020 - 2023, USD Million
TABLE 62 Rest of North America Cloud Based Payroll Software Market by Organization Size, 2024 - 2031, USD Million
TABLE 63 Rest of North America Cloud Based Payroll Software Market by Industry Vertical, 2020 - 2023, USD Million
TABLE 64 Rest of North America Cloud Based Payroll Software Market by Industry Vertical, 2024 - 2031, USD Million
TABLE 65 Key Information – ADP, Inc.
TABLE 66 Key Information – The Sage Group plc
TABLE 67 Key information – Unit4 N.V.
TABLE 68 Key Information – TELUS International
TABLE 69 Key Information – SAP SE
TABLE 70 Key Information – IRIS Software Group Limited
TABLE 71 Key Information – UKG, Inc.
TABLE 72 Key Information – Oracle Corporation
TABLE 73 Key Information – Paycom Software, Inc.
TABLE 74 Key Information – Dayforce, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Cloud Based Payroll Software Market share by Component, 2023
FIG 7 North America Cloud Based Payroll Software Market share by Component, 2031
FIG 8 North America Cloud Based Payroll Software Market by Component, 2020 - 2031, USD Million
FIG 9 North America Cloud Based Payroll Software Market share by Organization Size, 2023
FIG 10 North America Cloud Based Payroll Software Market share by Organization Size, 2031
FIG 11 North America Cloud Based Payroll Software Market by Organization Size, 2020 - 2031, USD Million
FIG 12 North America Cloud Based Payroll Software Market share by Industry Vertical, 2023
FIG 13 North America Cloud Based Payroll Software Market share by Industry Vertical, 2031
FIG 14 North America Cloud Based Payroll Software Market by Component, 2020 - 2031, USD Million
FIG 15 North America Cloud Based Payroll Software Market share by Country, 2023
FIG 16 North America Cloud Based Payroll Software Market share by Country, 2031
FIG 17 North America 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.
