Time and Attendance Software Market Report by Component (Software, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), End User (BFSI, IT and Telecom, Healthcare, Retail and E-Commerce, Manufacturing, Government, Education, and Others), and Region 2024-2032
The global time and attendance software market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 2.9 Billion
Market Forecast in 2032
US$ 5.3 Billion
Market Growth Rate 2024-2032
6.9%
Time and attendance software is an application utilized for time tracking and optimizing employee hours during the job and assists the HR department in keeping a record of payroll and leaves of employees. It also minimizes errors in bookkeeping and breaks down processes and events into tables, graphs, and charts. Besides this, it can generate, maintain, and archive important tax information and help organizations maximize their cash flow. It also offers employees a centralized location for viewing schedules and making requests and being notified of any changes in the company policies. In addition, as it provides transparent, accurate and fully audited data that increases employee trust in the business, the adoption of time and attendance software is increasing worldwide.
Time and Attendance Software Market Trends:
The growing need for time tracking to improve the productivity of employees in organizations of different verticals represents one of the key factors driving the market. Moreover, there is a rise in the usage of automation tools in human resource management (HRM) systems. This, along with the wide-ranging features and benefits of time and attendance software, is propelling the growth of the market. In addition, technological developments in the software allow organizations to create automated workflows and build custom policies for the company. This, in confluence with a digitized timesheet approval process that works automatically, is stimulating the market growth. Besides this, a considerable shift towards the work from home (WFH) culture in organizations across the globe due to coronavirus outbreaks is resulting in the increasing usage of time and attendance software for time tracking. This, coupled with the rising utilization of cloud-based software that allows employees to clock in and clock out via web browser, phone, and tablets, is bolstering the market growth. Some of the factors projected to impel the market growth are Wi-Fi-enabled time clocks, advancing scheduling modules with calendar integration, and improving scheduling flexibility in the time and attendance software.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global time and attendance softwaremarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on 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
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles 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 Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
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$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)
Key Questions Answered in This Report
The global time and attendance software market was valued at US$ 2.9 Billion in 2023.
We expect the global time and attendance software market to exhibit a CAGR of 6.9% during 2024-2032.
The advent of cloud-based time and attendance software, enabling the employees to clock in and clock out via web browser, smartphones, and tablets, is primarily catalyzing the global time and attendance software market.
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of time and attendance
software for remotely keeping track of employees’ productivity during work-from-home scenario across
organizations.
Based on the component, the global time and attendance software market can be segmented into
software and services. Currently, software holds the majority of the total market share.
Based on the deployment mode, the global time and attendance software market has been divided into on-premises and cloud-based, where cloud-based currently exhibits a clear dominance in the market.
Based on the organization size, the global time and attendance software market can be categorized into
small and medium-sized enterprises and large enterprises. Currently, large enterprises account for the
largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global time and attendance software market include 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.
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