Global Time Clock Software Market Size, Share & Trends Report, by Type (Installed Based and Cloud-Based), and by Application (Enterprise, Healthcare, Government, and Others) Forecast (2022-2028)

The global time clock software market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The time clock software is a type of program that logs employee clock in and clock out times and creates a record of hours worked. The increased adoption of the remote work culture is one of the factors driving the growth of the market. For instance, The Brecker Friedman Institute of Economics at the University of Chicago conducted a 10,000 employee survey regarding the trends in remote work culture. The survey stated that 30.0% of the respondents were more productive and engaged in working from home. The survey also calculated that the commuting time was reduced by 62.4 million hours per day with aggregate time savings of 9 billion hours from March 2020 to September 2020. Further, according to the report by Owl Labs 2021, 50.0% of respondents stated that they work more hours remotely than at the physical office. As per the same report, 16.0% of the companies are fully remote, and approximately 62.0% of workers aged 22 to 65 years claim to work remotely at least occasionally. Thus, the rise in the remote work culture is anticipated to fuel the demand for the global time clock software market.

 

Looking toward the demand for time clock software, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in October 2019, Ascentis Corp. had launched NT8000, a smart time clock software device. The NT8000 serves as a standalone workforce management solution that enables employees to quickly access their information at the clock in a secure, convenient way and streamlining employee experience and reducing user error. In addition, NT8000 is a multi-language design that supports badge and biometric readers and can integrate with any workplace environment. Similarly, in November 2019, Kronos had launched Kronos InTouch DX, a time clock offering various features such as biometric authentication, Multilanguage support, and integration with workforce dimensions. The launch aimed at providing ease of use and greater personalization for employees. Thus such launches are anticipated to drive the growth of the global time clock software market during the forecast period (2022-2028).

 

 

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Arcoprint (Workwell Technologies Co.), Lathem Time Corp., and TimeClock Plus Llc among others.

 

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

 

Global Time Clock Software Market Report by Segment

By Type

Installed Based

Cloud-Based

By Application

• Enterprise
• Government
• Healthcare
• Others

 

Global Time Clock Software Market Report by Region

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

• Latin America
• Middle East & Africa