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Press Release:

Global Time and Attendance Software Market to Reach US$ 4.16 Billion by 2027, Bolstered by Technological Developments

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Time and Attendance Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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 software market, along with forecasts at the global, regional and country level from 2022-2027. 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 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
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)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Time and Attendance Software Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Software
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Services
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Deployment Mode
    7.1    On-premises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cloud-based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Organization Size
    8.1    Small and Medium-sized Enterprises
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Large Enterprises
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by End User
    9.1    BFSI
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    IT and Telecom
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Healthcare
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Retail and E-Commerce
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Manufacturing
        9.5.1 Market Trends
        9.5.2 Market Forecast
    9.6    Government
        9.6.1 Market Trends
        9.6.2 Market Forecast
    9.7    Education
        9.7.1 Market Trends
        9.7.2 Market Forecast
    9.8    Others
        9.8.1 Market Trends
        9.8.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Automatic Data Processing Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Ceridian HCM Inc.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
        15.3.3    International Business Machines Corporation
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    Kronos Incorporated
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    Oracle Corporation
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    Paycom Software Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
        15.3.7    Paycor Inc.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
        15.3.8    Reflexis Systems Inc (Zebra Technologies Corporation)
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
        15.3.9    SAP SE
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    Workday Inc.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    WorkForce Software LLC
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio

List of Figures

Figure 1: Global: Time and Attendance Software Market: Major Drivers and Challenges
Figure 2: Global: Time and Attendance Software Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Time and Attendance Software Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Time and Attendance Software Market: Breakup by Component (in %), 2021
Figure 5: Global: Time and Attendance Software Market: Breakup by Deployment Mode (in %), 2021
Figure 6: Global: Time and Attendance Software Market: Breakup by Organization Size (in %), 2021
Figure 7: Global: Time and Attendance Software Market: Breakup by End User (in %), 2021
Figure 8: Global: Time and Attendance Software Market: Breakup by Region (in %), 2021
Figure 9: Global: Time and Attendance Software (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Time and Attendance Software (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Time and Attendance Software (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Time and Attendance Software (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Time and Attendance Software (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Time and Attendance Software (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Time and Attendance Software (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Time and Attendance Software (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Time and Attendance Software (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Time and Attendance Software (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Time and Attendance Software (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Time and Attendance Software (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Time and Attendance Software (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Time and Attendance Software (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Time and Attendance Software (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Time and Attendance Software (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Time and Attendance Software (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Time and Attendance Software (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Time and Attendance Software (Retail and E-Commerce) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Time and Attendance Software (Retail and E-Commerce) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Time and Attendance Software (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Time and Attendance Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Time and Attendance Software (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Time and Attendance Software (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Time and Attendance Software (Education) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Time and Attendance Software (Education) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Time and Attendance Software (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Time and Attendance Software (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: North America: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: North America: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: United States: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: United States: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Canada: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Canada: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Asia-Pacific: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Asia-Pacific: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: China: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: China: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Japan: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Japan: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: India: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: India: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: South Korea: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: South Korea: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Australia: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Australia: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Indonesia: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Indonesia: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Europe: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Europe: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Germany: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Germany: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: France: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: France: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: United Kingdom: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: United Kingdom: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Italy: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Italy: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Spain: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Spain: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Russia: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Russia: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Latin America: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Latin America: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Brazil: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Brazil: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Mexico: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Mexico: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Others: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Others: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Middle East and Africa: Time and Attendance Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Middle East and Africa: Time and Attendance Software Market: Breakup by Country (in %), 2021
Figure 85: Middle East and Africa: Time and Attendance Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Global: Time and Attendance Software Industry: SWOT Analysis
Figure 87: Global: Time and Attendance Software Industry: Value Chain Analysis
Figure 88: Global: Time and Attendance Software Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Time and Attendance Software Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Time and Attendance Software Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Time and Attendance Software Market Forecast: Breakup by Deployment Mode (in Million US$), 2022-2027
Table 4: Global: Time and Attendance Software Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 5: Global: Time and Attendance Software Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Time and Attendance Software Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Time and Attendance Software Market: Competitive Structure
Table 8: Global: Time and Attendance Software Market: Key Players

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Key Questions Answered in This Report

The global time and attendance software market was valued at US$ 2.45 Billion in 2021.

We expect the global time and attendance software market to exhibit a CAGR of 8.50% during 2022-2027.

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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