Time and Attendance Software - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Time and Attendance Software Market is accounted for $1,317.38 million in 2019 and is expected to reach $2,493.09 million by 2027 growing at a CAGR of 8.3% during the forecast period. Customization of the software (cater to the needs of different groups of employees) and growing integration with financial analytics are the major factors propelling the market growth. However, cost of installation of this software is hampering the market growth.
Time and attendance software is a business application developed to optimize and track the number of work hours of an employee, which helps keep record of wages and salaries paid. It provides management personnel with diverse tools to help maximize cash flow and minimize waste.
Based on the type, the biometric segment is going to have a lucrative growth during the forecast period due to its property of serving different individuals and organizations, ardently looking for first-rate security. Furthermore, they are helpful in monitoring the activities of various people entering and leaving the organization, these devices are becoming mandatory security systems.
By geography, North America is going to have a lucrative growth during the forecast period due to the presence of global players in the U.S. Growing organization sizes and increasing application area of time and attendance software is the major factor which is supporting the market for time and attendance software in North American region.
Some of the key players profiled in the Time and Attendance Software Market include ADP, Acumen Data, Cornerstone OnDemand, Inc, Halogen Software Inc, IBM Corporation, Icon Time Systems, InfoTronics, Insperity, Kronos Incorporated, Oracle, Redcort, Replicon, SAP, SumTotal Systems, LLC, Synerion, TSheets, Ultimate Software, and Workday, Inc.
• Interactive Voice Response (IVR)
• Proximity Cards, Badges, and Key Fobs
• Time Cards
• Web-based Login Stations
• Cloud Based
• Direct Sales
Organization Structures Covered:
• Businesses with Hourly Employees
• Businesses that Track Billable Hours
• Human Resources Departments
End Users Covered:
• Banking, Financial services and Insurance (BFSI)
• IT and Telecom
• Office Building
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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