The timesheet software uk is projected to grow from USD 2,856.3 million in 2023 to USD 11,452.6 million by 2032, exhibiting a compound annual growth rate (CAGR) of 16.7% during the forecast period (2023-2032).
Time Tracking Software is a tool used by enterprises for recording and tracking work hours of employees. This can be used in providing due payments and increasing productivity. The software provides the first mover advantage to managers for assigning tasks and providing transparency. The global time tracking software market report by Market Research Future (MRFR) contains insights and forecasts for the period of 2023 to 2032 (forecast period) as well as taking into consideration the impact of the COVID-19 pandemic.
Click Here to Get Sample Premium Report @
https://www.marketresearchfuture.com/sample_request/9579
Key Players:
Key Companies in the Time Tracking Software Market include,
- WRIKE, INC
- CLARIZEN
- ZOHO CORPORATION
- PROACTIVE SOFTWARE LTD
- BASECAMP
- MAVENLINK
- CLICKTIME
- CONNECTWISE, LLC
- WORKFRONT, INC
- TIME DOCTOR
- SAP SE
- KRONOS INCORPORATED
Market Scope:
The global time tracking software market is expected to register at a CAGR of 20.69% during the forecast period. The use of the software for assigning tasks to employees and to make full use of time while ensuring productivity can drive market demand. It is being used by large corporations for monitoring employee workloads during the COVID-19 pandemic. Insights on operations overheads and expenses pertaining to production can be gleaned using the software and provide transparency to employers.
Time theft and buddy punching are concerns of employees that use traditional timesheets for tracking. According to a study by AffinityLive, the U.S. economy loses close to 50 million hours annually in productivity due to this behavior. Rise of remote work, cloud time tracking software, and use of mobile phones for conducting businesses are factors expected to drive market growth over the forecast period. The use of applying for leaves and ability to enter attendance through a mobile phone can bode well for the market.
But concerns of open-source time tracking software and data privacy concerns can challenge the market growth.
Market Segmentation:
By deployment, it is segmented into on-premise and cloud-based.
By application, it is segmented into project management, payroll, and tracking & reporting. The tracking & reporting segment is expected to garner revenues for the market owing to the feature being employed by corporations for tracking employee productivity. Rising use of automated software is likely to spur segment growth in the global time tracking software market.
By organization, it is segmented into large enterprise and small & medium enterprises. The small & medium enterprises segment is predicted to garner huge share of the market owing to use of the software for being compliant with federal regulations and captures time off and attendance numbers of employees.
Regional Analysis
The global time tracking software market, by region, has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. North America accounted for the largest market share in 2018 with a market value of USD 610.65 million. It is expected to register a CAGR of 21.03% during the forecast period. The growth in the region is attributed to the increasing workforce, which has resulted in the widespread adoption of time tracking software across all sizes and kinds of businesses.
APAC is expected to register the highest CAGR of 22.21% during the forecast period. The growth can be attributed to the rapidly growing awareness concerning insider threats, and the benefits offered by the software like payroll management, employee monitoring, project management, and others. Emergence of small and medium enterprises owing to encouragement by developing economies to boost their growth rate can drive the demand for the software.
Download Sample PDF Copy of this Report to understand structure of the complete report (Including Full TOC, Table & Figures) @
https://www.marketresearchfuture.com/reports/time-tracking-software-market-9579
Industry/Innovation/Related News:
September 28, 2020 ---- Locus (the UK), leading global logistics planning and optimization software provider, announced a partnership with a global software SaaS company -Vinculum, to enable its customers to develop omnichannel commerce and supply chain. Locus’ B2B SaaS platform automates human decisions in the supply chain, providing efficiency, transparency, and consistency in logistics operations. Brands & Retailers can now have access to best-in-class routing, omnichannel commerce solutions, and supply chain management under one roof
The Locus platform uses deep machine learning and proprietary algorithms, offering smart logistics solutions like route optimization, real-time tracking, insights & analytics, beat optimization, efficient warehouse management, and vehicle allocation & utilization. This helps companies optimize their end-to-end supply chain network with its strategic consulting offering.
Table of Content:
Executive Summary
Market Introduction
- Market Definition
- Market Segmentation
Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
Market Analysis
- By Deployment
- By Application
- By Organization Size
- By Region
Competitive Landscape
- Market Share Analysis
- Company Profiles
Future Outlook
Related Reports:
Low Code Development Platform Market
Marketing Resource Management Market
Privileged Access Management (PAM) Solutions Market
Electrical & Electronic Computer-Aided Design (ECAD) Market
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Also, we are launching "Wantstats" the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com