The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in the usage of automation tools in human resource management (HRM) systems are expected to drive innovation in time and attendance software manufacturing, thus driving the market during the forecast period.

The global time and attendance software market is expected to grow from $2.80 billion in 2022 to $3.11 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The time and attendance software market size is expected to grow to $4.68 billion in 2027 at a CAGR of 10.7%.

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Global Time And Attendance Software Market Segments Include:

• By Component: Software, Services
• By Type: Time Cards, Proximity Cards Badges And Key Fobs, Biometric, Web-Based Login Stations, Interactive Voice Response (IVR)
• By Deployment Mode: On-Premise, Cloud, Hybrid
• By Organisation Size: Large Enterprises, Small and Medium Enterprises (SMEs)
• By Industry Verticals: Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare, Government, Retail and E-Commerce, IT and Telecom, Education, Other Industry Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global time and attendance software market in 2021.

Major Market Players in the time and attendance software market include Automatic Data Processing (ADP) Inc., Ultimate Kronos Group (UKG) Inc., Ceridian HCM Inc., Paycor Inc., SAP SE, Replicon.

Strategic partnerships and collaborations have emerged as the key trends gaining popularity in the time and attendance software market. Key players operating in the time and attendance software market are focused on partnerships and collaborations to reinforce their position. For instance, in May 2022, Greenshades, Inc., a US-based creator of a platform for processing payroll taxes and human capital management (HCM) data, partnered with Lathem Time, a US-based designer and manufacturer of timekeeping products. This collaboration is intended to integrate each other’s systems to create new, cutting-edge, end-to-end labor management solutions. Moreover, in September 2021, Timerack, a US-based human resources management program developer, intended to serve as a front-end payroll system partnered with Coats Staffing Software to provide necessary software solutions to time and attendance, payroll, employee monitoring, and recruitment problems in the staffing industry. Coats Staffing Software is a US-based recruitment company that provides fully comprehensive accounting integrated CRM and payroll services.

The Time And Attendance Software Global Market Report 2023  provides a time and attendance software market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The time and attendance software market forecast analyzes time and attendance software market size, time and attendance software market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time and attendance software is a business tool used to monitor and optimise employee work hours as well as keep track of earnings and salaries paid. A primary purpose of time and attendance system is used to monitor employee attendance at a specific location or activity.

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