Global Time and Attendance Software Market (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Time and Attendance Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global time and attendance software market reached a value of US$ 2.45 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 4.16 Billion by 2027, exhibiting a CAGR of 8.50% during 2022-2027.

Companies Mentioned

• 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.
• WorkForce Software LLC

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

Time and attendance software is an application that tracks and optimizes employee hours on 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

The growing need for keeping track of the efficiency and 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 implementation of time and attendance software.

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 Questions Answered in This Report:

• How has the global time and attendance software market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global time and attendance software market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the deployment mode?
• What is the breakup of the market based on the organization size?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global time and attendance software market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and 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

7 Market Breakup by Deployment Mode

8 Market Breakup by Organization Size

9 Market Breakup by End User

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/1f7dpw