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Asia Pacific Time Tracking Solution Market Forecast to 2030
Asia Pacific Time Tracking Solution Market Forecast to 2030 – Regional Analysis – by Deployment (On-Premise and Cloud), Organization Size (Small & Medium Enterprises and Large Enterprises), and Application (Tracking and Reporting, Payroll, and Project Management)
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Description
Rise in Adoption of Cloud-Based Time Tracking Solution Boosts Asia Pacific Time Tracking Solution Market
The most effective cloud time-tracking software solutions often include tools for monitoring both time and output. This drills down to assigned tasks and employee activity, such as keyboard presses and mouse motions, sometimes accompanied by screenshots. Additionally, these systems include complementary systems like collaboration and project management tools that easily interact with the company’s operating system. Cloud-based time-tracking solution not only tracks task durations and billable hours but also offers solutions that streamline the entire operations of businesses. Several authorities globally are adopting cloud-based time-tracking solutions to increase productivity. For instance, according to Hindustan Times, in November 2022, Pune Mahanagar Parivahan Mahamandal Limited (PMPML) tied up with Google Cloud for real-time tracking. The PMPML operates in the Pune metropolitan region, and it runs 2,142 buses on 371 routes. This solution enables commuters to easily find the bus in real-time and make the commuter’s journeys easier.
With the continuous adoption of cloud-based time tracking solutions, several players globally are innovating cloud-based time tracking solutions. For instance, in December 2020, SAP SE announced the SAP SucessFactor Time Tracking Solution. The product is a cloud-based solution that provides organizations with innovative tools to record, approve, and monitor the time of their workforce. The solution has an intuitive user interface, which improves the working environment for staff members and ensures that they are paid accurately, promptly, and in accordance with local laws. Replicon company unveiled a cloud-based time-tracking solution. The solution offers integrated compliance and business analytics indicators to assess corporate performance and enable data-based decision-making capabilities more accurately. Thus, the rise in adoption and offering of cloud-based time-tracking solutions is expected to create growth opportunities for the Asia Pacific time-tracking solution market.
Asia Pacific Time Tracking Solution Market Overview
Many businesses rely on time-tracking solutions to manage projects effectively. According to the Project Management Institute of Asia Pacific, there is a need for 2.3 million project managers in APAC every year till 2030 to level the economic growth in the industry. Talent Shortage to fill these manager positions is a big challenge for businesses relying on their management teams to implement strategic initiatives on time and within budget. The requirement of project management professionals is especially important for developing and emerging countries like those in APAC. Construction & manufacturing (73.4%) and insurance & finance (13.2%) sectors are likely to be the largest revenue generators of the project management-oriented employment (PMOE) sector. Hence, the demand for time-tracking software is increasing with the growth of these sectors. The time-tracking software helps project managers monitor progress, allocate resources efficiently, and stay within budget constraints. Real-time data on time spent on tasks enables better decision-making and project planning. The COVID-19 pandemic has led to rapid digitalization in Asia Pacific. According to the FlexOS Global Pte. Ltd. report, in APAC, nearly 43% of people worked in a hybrid arrangement during the pandemic for the first time. Nearly 53% believe increased employee productivity will substantially benefit a remote work model. During the pandemic, 70% said they wanted greater location flexibility, while 71% favored greater time flexibility, which is much higher than the businesses are willing to provide. The time-tracking software supports the management of remote and distributed teams by providing insights into remote employees’ activities and work hours. The demand for time-tracking software is increasing with the increasing remote work. Thus, the Asia Pacific time-tracking solution market in APAC is growing significantly.
Asia Pacific Time Tracking Solution Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Time Tracking Solution Market Segmentation
The Asia Pacific time tracking solution market is segmented based on deployment, organization size, application, and country.
Based on deployment, the Asia Pacific time tracking solution market is bifurcated into on-premise and cloud. The on-premise segment held a larger share in 2022.
In terms of organization size, the Asia Pacific time tracking solution market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held a larger share in 2022.
By application, the Asia Pacific time tracking solution market is segmented into tracking and reporting, payroll, and project management. The tracking and reporting segment held the largest share in 2022.
Based on country, the Asia Pacific time tracking solution market is segmented into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. China dominated the Asia Pacific time tracking solution market in 2022.
Replicon Inc, ConnectWise LLC, UKG Inc, Kantata Inc, SAP SE, Time Doctor LLC, Wrike Inc, Zoho Corporation PVT Ltd, and Planview Inc are some of the leading companies operating in the Asia Pacific time tracking solution market.
Summary Info
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According to the Research Team’ research, the Asia Pacific time tracking solution market was valued at US$ 717.59 million in 2022 and is expected to reach US$ 4,639.35 million by 2030, registering a CAGR of 26.3% from 2022 to 2030. Adoption of GPS tracking solution and rise in adoption of cloud-based time tracking solution are among the critical factors attributed to the Asia Pacific time tracking solution market expansion.
The adoption of GPS tracking solutions guarantees responsibility, security, productivity, efficiency at work, and mileage tracking, among other things. GPS tracking data automates the creation of timecards for each employee. That means employers will not have to deal with incomplete or incorrect timecards. In several sectors, such as construction, real estate, healthcare, and cleaning services, GPS time tracking solutions help employers track the location of assets and work hours by employees, among other things. By understanding the needs of these sectors, several companies are providing GPS time clock apps to track the data of each employee to automate the creation of timecards.
The effectiveness with which construction firms and contractors distribute trucks, tools, and workers depends significantly on each task. Since job sites can be hundreds or even thousands of miles apart, good fleet management is necessary to ensure that proper management of employees at optimal locations for an extended period and reduce costs. Several construction companies globally are adopting GPS time-tracking solutions to increase their business profitability. For instance, according to CW Construction World, in September 2020, K &D Construction Service used GPS time tracking to schedule which jobs need which pieces of equipment to ensure that everyone gets required equipment’s, and the real-time location gets updated every ten seconds on the company’s system. Thus, the adoption of GPS tracking solutions drives the time tracking solution market.
On the contrary, lack of training and support hampers the growth of Asia Pacific time tracking solution market.
Based on deployment, the Asia Pacific time tracking solution market is bifurcated into on-premise and cloud. The on-premise segment held 55.4% share of the Asia Pacific time tracking solution market in 2022, amassing US$ 397.42 million. It is projected to garner US$ 2,712.72 million by 2030 to expand at 27.1% CAGR during 2022-2030.
In terms of organization size, the Asia Pacific time tracking solution market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 65.6% share of the Asia Pacific time tracking solution market in 2022, amassing US$ 470.44 million. It is projected to garner US$ 2,988.63 million by 2030 to expand at 26.0% CAGR during 2022-2030.
By application, the Asia Pacific time tracking solution market is segmented into tracking and reporting, payroll, and project management. The tracking and reporting segment held 57.0% share of the Asia Pacific time tracking solution market in 2022, amassing US$ 408.98 million. It is projected to garner US$ 2,759.52 million by 2030 to expand at 27.0% CAGR during 2022-2030.
Based on country, the Asia Pacific time tracking solution market is segmented into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. China held 27.0% share of Asia Pacific time tracking solution market in 2022, amassing US$ 193.82 million. It is projected to garner US$ 1,428.51 million by 2030 to expand at 28.4% CAGR during 2022-2030.
Key players operating in the Asia Pacific time tracking solution market are Replicon Inc, ConnectWise LLC, UKG Inc, Kantata Inc, SAP SE, Time Doctor LLC, Wrike Inc, Zoho Corporation PVT Ltd, and Planview Inc, among others.
2020: SAP launched a cloud-based time-tracking solution to simplify HR processes to enhance employee experience. The launched SAP SuccessFactors Time Tracking solution helps ensure people are paid accurately, on time and in accordance with local regulations.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific time tracking solutions market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the time tracking solutions market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Time Tracking Solution Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain
5. Asia Pacific Time Tracking Solution Market – Key Industry Dynamics
5.1 Asia Pacific Time Tracking Solution Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing in Remote Working and BYOD
5.2.2 Rise in Concerns of Time Theft by Employees
5.2.3 Adoption of GPS Tracking Solution
5.3 Market Restraints
5.3.1 Privacy and Data Security Issues from Employee Side
5.3.2 Lack of Training and Support
5.4 Market Opportunities
5.4.1 Rise in Adoption of Cloud-Based Time Tracking Solution
5.4.2 Strategic Initiatives by Market Players
5.5 Future Trends
5.5.1 Introduction of AI-Based Time Tracking Solution
5.6 Impact of Drivers and Restraints:
6. Time Tracking Solution Market – Asia Pacific Market Analysis
6.1 Asia Pacific Time Tracking Solution Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific Time Tracking Solution Market Forecast and Analysis
7. Asia Pacific Time Tracking Solution Market Analysis – Deployment
7.1 On-Premise
7.1.1 Overview
7.1.2 On-Premise Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Cloud
7.2.1 Overview
7.2.2 Cloud Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Time Tracking Solution Market Analysis – Organization Size
8.1 Large Enterprises
8.1.1 Overview
8.1.2 Large Enterprises Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Small and Medium Enterprises
8.2.1 Overview
8.2.2 Small and Medium Enterprises Market, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Time Tracking Solution Market Analysis – Application
9.1 Tracking and Reporting
9.1.1 Overview
9.1.2 Tracking and Reporting Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Project Management
9.2.1 Overview
9.2.2 Project Management Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Payroll
9.3.1 Overview
9.3.2 Payroll Market Revenue, and Forecast to 2030 (US$ Million)
10. Asia Pacific Time Tracking Solution Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific Time Tracking Solution Market, Breakdown by Key Country, 2022 and 2030 (%)
10.1.1.1 Asia Pacific Time Tracking Solution Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 China Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 China Time Tracking Solution Market Breakdown by Deployment
10.1.1.2.2 China Time Tracking Solution Market Breakdown by Organization Size
10.1.1.2.3 China Time Tracking Solution Market Breakdown by Application
10.1.1.3 Japan Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Japan Time Tracking Solution Market Breakdown by Deployment
10.1.1.3.2 Japan Time Tracking Solution Market Breakdown by Organization Size
10.1.1.3.3 Japan Time Tracking Solution Market Breakdown by Application
10.1.1.4 South Korea Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 South Korea Time Tracking Solution Market Breakdown by Deployment
10.1.1.4.2 South Korea Time Tracking Solution Market Breakdown by Organization Size
10.1.1.4.3 South Korea Time Tracking Solution Market Breakdown by Application
10.1.1.5 India Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.5.1 India Time Tracking Solution Market Breakdown by Deployment
10.1.1.5.2 India Time Tracking Solution Market Breakdown by Organization Size
10.1.1.5.3 India Time Tracking Solution Market Breakdown by Application
10.1.1.6 Australia Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.6.1 Australia Time Tracking Solution Market Breakdown by Deployment
10.1.1.6.2 Australia Time Tracking Solution Market Breakdown by Organization Size
10.1.1.6.3 Australia Time Tracking Solution Market Breakdown by Application
10.1.1.7 Rest of Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.7.1 Rest of Asia Pacific Time Tracking Solution Market Breakdown by Deployment
10.1.1.7.2 Rest of Asia Pacific Time Tracking Solution Market Breakdown by Organization Size
10.1.1.7.3 Rest of Asia Pacific Time Tracking Solution Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Replicon Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 ConnectWise LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 UKG Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Kantata Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 SAP SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 TIME DOCTOR LLC
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Wrike Inc
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Zoho Corporation Pvt Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Planview Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Time Tracking Solution Market Segmentation
Table 2. Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million) -Organization Size
Table 5. Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. China Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 8. China Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 9. China Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 10. Japan Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 11. Japan Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 12. Japan Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 13. South Korea Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 14. South Korea Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 15. South Korea Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 16. India Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 17. India Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 18. India Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 19. Australia Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 20. Australia Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 21. Australia Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 22. Rest of Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 23. Rest of Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 24. Rest of Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 25. Heat Map Analysis by Key Players
Table 26. List of Abbreviation
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LIST OF FIGURES
Figure 1. Asia Pacific Time Tracking Solution Market Segmentation, By Country
Figure 2. Ecosystem: Asia Pacific Time Tracking Solution Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific Time Tracking Solution Market Revenue (US$ Million), 2022 – 2030
Figure 5. Asia Pacific Time Tracking Solution Market Share (%) – Deployment, 2022 and 2030
Figure 6. On-Premise Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Cloud Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Asia Pacific Time Tracking Solution Market Share (%) – Organization Size, 2022 and 2030
Figure 9. Large Enterprises Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Small and Medium Enterprises Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Asia Pacific Time Tracking Solution Market Share (%) – Application, 2022 and 2030
Figure 12. Tracking and Reporting Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Project Management Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Payroll Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Asia Pacific Time Tracking Solution Market, by Key Country – Revenue (2022) (US$ Mn)
Figure 16. Asia Pacific Time Tracking Solution Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 17. China Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 18. Japan Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 19. South Korea Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 20. India Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21. Australia Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. Rest of Asia Pacific Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – Asia Pacific Time Tracking Solution Market
1. Replicon Inc
2. ConnectWise LLC
3. UKG Inc
4. Kantata Inc
5. SAP SE
6. Time Doctor LLC
7. Wrike Inc
8. Zoho Corporation PVT Ltd
9. Planview Inc
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