Global Time and Attendance Software Market Overview:
The global time and attendance software market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The rising demand for automation in corporate enterprises and the increasing adoption of cloud-based attendance solutions are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Growth Drivers
- High Demand for Automation in Corporate Enterprises
- The Rising Adoption of Cloud-based Attendance Solutions
Roadblocks
Opportunities
- Opportunities in the Asia Pacific Region
Challenges
- Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
- Availability of Open Source Platforms
Competitive Landscape:
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.
Some of the key players profiled in the report are ADP, LLC (United States), Austin Lane Technologies, Inc. (United States), Bitrix (United States), Celayix (Canada), Cornerstone OnDemand, Inc. (United States), Halogen Software (Canada), IBM (United States), Kronos Incorporated (United States), Oracle (United States), SAP (Germany), SumTotal Systems, LLC (United States), Ultimate Software (United States), Workday, Inc. (United States) and Zoho Corporation (India). Analyst at AMA Research see United States Players to retain maximum share of Global Time and Attendance Software market by 2027. Considering Market by Enterprise SIze, the sub-segment i.e. SMEs will boost the Time and Attendance Software market. Considering Market by Platform, the sub-segment i.e. Windows will boost the Time and Attendance Software market.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Time & Attendance Solutions
What Can be Explored with the Time and Attendance Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Time and Attendance Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Time and Attendance Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Time and Attendance Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Time and Attendance Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.