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The global cloud-based payroll software market is expected to see rapid growth in the next few years, reaching $19.87 billion in 2028 at a CAGR of 11.5%. This growth can be attributed to the increasing adoption of advanced AI, predictive analytics, and big data analytics, as well as the rising use of IoT devices and blockchain technology. Major companies in the market include Oracle, SAP, ADP, Intuit, and Paychex. Other trends driving the market include cloud-based solutions, technological advancements, and the integration of AI and HR/payroll systems.
