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Multi-country Payroll (MCP) Solutions Market Size is predicted to develop a 9.2% CAGR during the forecast period for 2024-2031.
Multi-country payroll solutions are unified platforms that help companies with payroll operations in more than one country. By streamlining payroll processing and guaranteeing conformity with various rules, these systems offer a consistent method for disbursing salaries. Several factors contribute to the rising new technological advancement, a robust worldwide economy, globalization, supportive government policies, and growing multinational companies. The market for multi-country payroll (MCP) solutions is expanding due to the automated cloud-based payroll system streamlining and improving the accuracy of payroll processing for even the most complicated payroll circumstances. All payroll information is accessible through self-service portals so that workers can use any mobile device. Because the payroll is stored in the cloud, the HR department can quickly reply to employee inquiries about their salary, benefits, and any changes to their information. Considering the growing number of SMEs, the market for multi-country payroll (MCP) solutions is anticipated to provide exciting opportunities in the coming years.
However, data privacy and security in an MCP system are big concerns, particularly when working with nations with stringent data protection rules. Furthermore, practical and technical hurdles to overcome to ensure smooth integration could cause payroll processing delays and slow down the market growth. Multi-country payroll solutions are in high demand because of the pandemic and their role in post-COVID-19 recovery activities such as headcount planning, cost budgeting, and labor allocation. A growing number of payroll systems are also using automation and machine learning. In addition, technical advancements and strong collaborations with multinational companies will propel the industry's growth during the forecast period.
The multi-country payroll (MCP) solutions market is segmented based on deployment type and end-use industry. Based on deployment type, the market is segmented into on-premise and cloud-based. By end-use industry, the market is segmented into IT & telecom, financial services, retail & E-commerce, healthcare, manufacturing, and others.
The on-premise segment will hold a major share of the global multi-country payroll (MCP) solutions market in 2022. This is because cloud-based payroll solutions are designed to be more efficient and flexible. Installing payroll solutions in numerous countries is a costly and inefficient hassle for global corporations. Investment from global corporations is driven by the allure of cloud-based solutions, which provide greater flexibility, scalability, and reduced operational expenses. As a bonus, cloud-based solutions make payroll data accessible in real-time from any location, driving the segment’s expansion in the global market for multi-country payroll (MCP) solutions.
The financial service segment is projected to grow rapidly in the global multi-country payroll (MCP) solutions market because financial services companies, stock brokerages, and others frequently maintain branch offices all over the globe to serve their wide range of customers better. As a result of multi-country payroll systems' ability to remotely compute payroll deductions like taxes, these solutions are becoming more appealing to financial service providers. Financial service companies can embrace multi-country payroll solutions thanks to advancements in cloud-based technology, which drives the expansion of the worldwide market for multi-country payroll (MCP) solutions.
The North American Multi-country payroll (MCP) solutions market is expected to register the highest market share in revenue in the near future because many of the most well-known multinational corporations in the world have their headquarters here. Furthermore, the region’s technological infrastructure is well-developed and contributes significantly to the manufacturing of MCP solutions. Demand for MCP solutions is skyrocketing, which is driving the market expansion. In addition, the Asia Pacific region’s market is anticipated to experience expansion in the global market for multi-country payroll (MCP) solutions because there has been a significant increase in digitization and payroll solutions made possible by the region’s technology development. Additionally, the region has seen significant expansion in other industries, including healthcare, production, and more, allowing local enterprises to expand internationally. The result is a booming market for multi-country payroll solutions due to the region’s growing need.
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 9.2% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Deployment Type, By End-user and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Atlas Technology Solutions, CloudPay, Mercans, Immedis, Multiplier, Payslip, TMF Group, Humanica, ADP, and Alight Solutions. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Inflight Entertainment and Connectivity Space Market Snapshot
Chapter 4. Global Inflight Entertainment and Connectivity Space Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Component Estimates & Trend Analysis
5.1. by Component & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Component:
5.2.1. Hardware
5.2.2. Connectivity
5.2.3. Content
Chapter 6. Market Segmentation 2: by Offering Type Estimates & Trend Analysis
6.1. by & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Offering Type:
6.2.1. In-Flight Entertainment (IFE)
6.2.2. In-Flight Connectivity (IFC))
Chapter 7. Market Segmentation 3: by Aircraft Type Estimates & Trend Analysis
7.1. by Aircraft Type & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Aircraft Type:
7.2.1. Narrow-Body Aircraft (NBA)
7.2.2. Wide-Body Aircraft (WBA)
Chapter 8. Inflight Entertainment and Connectivity Space Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Component, 2019-2031
8.1.2. North America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Offering Type, 2019-2031
8.1.3. North America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Aircraft Type, 2019-2031
8.1.4. North America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.2. Europe
8.2.1. Europe Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Component, 2019-2031
8.2.2. Europe Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Offering Type, 2019-2031
8.2.3. Europe Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Aircraft Type, 2019-2031
8.2.4. Europe Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Component, 2019-2031
8.3.2. Asia-Pacific Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Offering Type, 2019-2031
8.3.3. Asia Pacific Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Aircraft Type, 2019-2031
8.3.4. Asia Pacific Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.4. Latin America
8.4.1. Latin America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Component, 2019-2031
8.4.2. Latin America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Offering Type, 2019-2031
8.4.3. Latin America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Aircraft Type, 2019-2031
8.4.4. Latin America Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Component, 2019-2031
8.5.2. Middle East & Africa Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Offering Type, 2019-2031
8.5.3. Middle East & Africa Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by Aircraft Type, 2019-2031
8.5.4. Middle East & Africa Inflight Entertainment and Connectivity Space Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. BAE Systems
9.2.2. Cobham plc
9.2.3. Collins Aerospace
9.2.4. Eutelsat Communications
9.2.5. Global Eagle Entertainment Inc.
9.2.6. Gogo LLC
9.2.7. Honeywell International Inc
9.2.8. Inmarsat plc
9.2.9. Iridium Communications Inc
9.2.10. Panasonic Corporation
9.2.11. Anuvu
9.2.12. EchoStar Corporation
9.2.13. Intelsat
9.2.14. Kymeta Corporation
9.2.15. SITA (Onair)
9.2.16. Thales Group
9.2.17. Thinkom Solutions, Inc.
9.2.18. Viasat Inc.
9.2.19. Other Prominent Players
Multi-country Payroll (MCP) Solutions Market- By Deployment Type
Multi-country Payroll (MCP) Solutions Market- By End-Use
Multi-country Payroll (MCP) Solutions Market- By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
