Global Time and Attendance Software Market to Reach US$ 4.3 Billion by 2028, Bolstered by Technological Developments

March 28, 2022 | Technology & Media

The latest report by IMARC Group, titled “Time and Attendance Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global time and attendance software market size reached a value of US$ 2.7 Billion in 2022. Time and attendance software is a business application designed to track and optimize the hours that employees spend on the job. It also keeps a record of the salaries and wages paid to the employees. The tool aids management personnel in maximizing cash flow and minimizing waste. Time and attendance software is generally used by the human resources (HR) department across businesses of all sizes. It is constructed to generate, maintain and archive important tax and payroll information. It also offers employees a centralized location for viewing schedules making requests, and notifications regarding changes in the existing company policies. Nowadays, the software is gaining popularity in various organizations as it finds utilization in payroll management, scheduling, attendance management, labor budgeting, and task management.

Global Time and Attendance Software Market Trends:

The market is primarily driven by the increasing need to keep track of efficiency and productivity across various organizations. In addition, the rising use of automation tools in human resource management (HRM) systems is also fueling market growth. Besides this, the growing emphasis on workforce optimization has encouraged organizations to become more inclined toward business intelligence or business analytics. This, along with the rising deployment of could-based time and attendance software, is also creating a positive market outlook as it does not involve capital cost and is low on maintenance requirements. Moreover, the recent outbreak of the coronavirus disease (COVID-19) pandemic has resulted in the shift toward the work from home (WFH) option and digitized timesheet approval processes, thus increasing the product adoption rate. Furthermore, technological developments in the time and attendance software have facilitated automated workflows and building custom policies for the company, which is significantly influencing the market growth. Looking forward, the market value is expected to reach US$ 4.3 Billion by 2028, exhibiting a CAGR of 7.82% during the forecast period (2023-2028).

Market Summary:

Based on the component, the market has been segmented into software and services.
On the basis of the deployment mode, the market has been classified into on-premises and cloud-based software.
The market has been categorized based on the organization size into small and medium-sized, and large enterprises.
On the basis of the end user, the market has been segregated into BFSI, IT and telecom, healthcare, retail and e-commerce, manufacturing, government, education, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Component, Deployment Mode, Organization Size, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Time and Attendance Software Market to Reach US$ 4.3 Billion by 2028, Bolstered by Technological Developments

Purchase options Year End sale

Single User License ~~$2499~~ $2249
Five User License ~~$3499~~ $2974
Corporate License ~~$4499~~ $3599

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.