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Time tracking software Market Demand 2020-2026

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Vinayak Patil

The global Time tracking software market was valued at USD 425.32 billion in 2019 and is expected to reach USD 1785.36 billion by the year 2026, at a CAGR of 22.36%.

Time tracking software is a tool used by companies to record their work hours for billing, payroll, and other operations. The software helps managers to assign tasks on a project, helps in capturing the time spent by each employee on each assigned task.

Many enterprises want to improve their employee’s productivity.  Due to this factor demand for the time tracking software market is growing. Time theft is one of the major concerns in companies. Time theft is expected to affect almost all businesses. The US economy loses 50 million hours in productivity per day because of unrecorded work activities.

Major Key Players Considered in the time tracking software market

  • SAP SE,
  • Kronos Incorporated,
  • Wrike, Inc.,
  • Clarizen,
  • Zoho Corporation,
  • ProActive Software Ltd.,
  • Basecamp,
  • Mavenlink,
  • Click Time,
  • ConnectWise,
  • LLC, Workfront
  • Time Doctor.

 

By Deployment, The Time tracking software market is segmented

  • On-Premises deployment
  • Cloud-Based deployment

By Application type, the market is segmented into

  • Retail Inventory,
  • Perishable Goods,
  • Electronics & IT Assets
  • Others

Regions and Countries Level Analysis:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
  • Asia-Pacific (China, India, Japan, Southeast Asia etc.)
  • South America (Brazil, Argentina etc.)
  • Middle East & Africa (Saudi Arabia, South Africa etc.)

The time tracking software market is growing in the Asia-Pacific region. Asia-Pacific region is accounted for the largest market share across the globe. Due to the high demand from the regions like China, Japan, and India, the Asia-Pacific is expected to grow continuously

 

 

 

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Vinayak Patil
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