Time and Attendance Software Market Report 2022-2027 | Share, Comprehensive Study Explore Huge Growth in Future

Time and Attendance Software Market Overview:

IMARC Group has recently released a new research study titled, "Time and Attendance Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the global Time and Attendance Software market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.

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What was the size of the global time and attendance software market in 2021?

The global time and attendance software market size reached US$ 2.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.16 Billion by 2027, exhibiting at a CAGR of 8.50% during 2022-2027.

What is Time and Attendance Software?

Time and attendance software is an advanced application used by corporations to track time and monitor the working hours of employees during the job, which helps the HR department record leaves, overtime, and payroll of employees. It delivers a multi-modal approach by collecting data from several geographical locations into a centralized office, which authorizes users to access the attendance, schedule data, make requests, and get notified of changes in company policies. It also provides various benefits such as payroll simplification, averting tax and benefit problems, lawsuits prevention, increment in employee satisfaction, increased equality, and tracking of projects and tasks. As a result, time and attendance software is extensively used in healthcare, retail, government, education, and banking, financial services, and insurance (BFSI) industries.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Time and Attendance Software Market Trends and Drivers:

The market is primarily driven by the escalating demand for time-tracking software across various industries, including telecom, e-commerce, manufacturing, and information technology (IT). In addition, the widespread adoption of time-tracking software to enhance the productivity of employees in corporations, along with the rising utilization of automated tools in human resources management (HRM), is contributing to market growth.

Moreover, several technological developments in the software industries allow enterprises to create automated workflows and build custom policies for the company with a digitized timesheet approval process that works automatically, representing another major growth-inducing factor.

Apart from this, the sudden outbreak of coronavirus disease (COVID-19) and the implementation of work-from-home (WFH) practices in organizations are accelerating the demand for time and attendance software across the globe. Furthermore, the increasing utilization of cloud-based software, wi-fi-enabled time clocks, and advancing scheduling modules is also creating a positive market outlook.

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Global Time and Attendance Software Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Time and Attendance Software Companies:

Automatic Data Processing Inc., Ceridian HCM Inc., International Business Machines Corporation, Kronos Incorporated, Oracle Corporation, Paycom Software Inc., Paycor Inc., Reflexis Systems Inc (Zebra Technologies Corporation), SAP SE, Workday Inc. and WorkForce Software LLC.

The report has segmented the market on the basis of region, component, deployment mode, organization size and end user.

Breakup by Component:

• Software

• Services

Breakup by Deployment Mode:

• On-premises

• Cloud-based

Breakup by Organization Size:

• Small and Medium-sized Enterprises

• Large Enterprises

Breakup by End User:

• BFSI

• IT and Telecom

• Healthcare

• Retail and E-Commerce

• Manufacturing

• Government

• Education

• Others

Breakup by Region:

• North America

o United States

o Canada

• Asia-Pacific

o China

o Japan

o India

o South Korea

o Australia

o Indonesia

o Others

• Europe

o Germany

o France

o United Kingdom

o Italy

o Spain

o Russia

o Others

• Latin America

o Brazil

o Mexico

o Others

• Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

• Market Performance (2016-2021)

• Market Outlook (2022- 2027)

• Porter's Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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