Time and attendance management software market is anticipated to grow at a CAGR of 10.19% during the forecast period (2023-2030). The market’s growth is attributed to remote work flexibility across the globe. Remote work arrangements, that have grown increasingly significant in healthcare owing to telemedicine and remote administrative responsibilities, can be helped by time and attendance software. According to the National Institute of Health (gov.), in June 2022, the U.S. currently spends close to twice as much on health care as other high-income countries, yet falls short of the WHO vision for health care. In 2020, U.S. health expenditures totaled $4.1 trillion, and this number is projected to reach $6 trillion by 2028, taking up 20% of the nation’s gross domestic product. This spending is focused predominantly on treatment for diseases and injuries, rather than on prevention of such illnesses and injuries. The U.S. has a lower life expectancy than its peer countries, a higher rate of death by suicide, a higher chronic disease burden, higher rates of preventable hospitalizations, higher use of unnecessary expensive testing and procedures, and lower use of primary care.
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The global time and attendance management software market is segmented on the component, deployment, organization size, and industry vertical. Based on the component, the market is sub-segmented into software, and service. Based on the deployment mode, the market is sub-segmented into on-premise, cloud, and hybrid. Based on the organization size, the market is sub-segmented into large enterprises, and small and medium-sized enterprises. Furthermore, on the basis of industry vertical, the market is sub-segmented into retail and e-commerce, it and telecom education, bfsi, manufacturing, healthcare, government, and others. The services subcategory is expected to capture a significant portion of the market share within the component segment. This is attributed to the need to maximize performance, remain up to date on changes, and minimize IT expenses drives demand for managed services in the time and attendance software industry.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Time and Attendance Management Software Market by Component
- Software
- Service
Global Time and Attendance Management Software Market by Deployment Mode
- On-premise
- Cloud
- Hybrid
Global Time and Attendance Management Software Market by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
Global Time and Attendance Management Software Market by Industry Vertical
- Retail and E-commerce
- IT and Telecom
- Education
- BFSI
- Manufacturing
- Healthcare
- Government
- Others(Financial Services, and Legal Services)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Bullhorn, Inc.
- Greytrix India Pvt. Ltd.,
- HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO. LTD
- IBM Corp.
- Jibble
- Oracle
- Paychex, Inc.
- Paycom Software, Inc.
- TimeClock Plus, LLC
- UKG Inc.
- Workday
- WorkForce Software
- Zebra Technologies Corp.
- Zoho Corp. Pvt. Ltd.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global time and attendance management software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.
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