North America Time Tracking Solution Market Forecast to 2030

North America Time Tracking Solution Market Forecast to 2030

North America 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

The North America time tracking solution market was valued at US$ 1,019.28 million in 2022 and is expected to reach US$ 5,944.05 million by 2030; it is estimated to record a CAGR of 24.7% from 2022 to 2030.

Rise in Concerns of Time Theft by Employees Fuel North America Time Tracking Solution Market

There is a growing concern about time theft by employees. Due to the pandemic, many employees switched to entirely remote or hybrid working arrangements. The challenge of managing a workforce without direct supervision increasingly lies with employers. In such circumstances, time theft is a significant form of wrongdoing in which employees are compensated for the time they did not work. To eliminate such misconduct by the employees, implementing time tracking is necessary to avoid the loss of productivity. According to a 2020 Connecteam survey, time theft affects more than 75% of US firms. It can consume up to 7% of total annual gross payroll. When employees round up their hours at work or receive payment for tasks they did not perform, it is called time theft. Buddy punching is the practice of having a coworker clock in using employees’ cards while employees are away. Several companies that still use paper timesheets and traditional clock-in systems frequently deal with time theft and buddy punching. Thus, several businesses nowadays reduce time theft using cutting-edge staff attendance and time tracking software. Thus, the increasing concern of time theft by employees is driving the time tracking solution market.

North America Time Tracking Solution Market Overview

In North America, the North America time-tracking solution market is well-established. It continues to grow due to various factors, such as the adoption of remote work, compliance requirements, and a focus on productivity and efficiency. Many cloud-based time-tracking solutions have gained popularity among businesses of all sizes in this region, with companies such as Kronos, ADP, and Paychex offering comprehensive time-tracking and workforce management solutions. According to the American Payroll Association, almost US$7.4 billion in time is lost daily due to unrecorded work. Time theft costs ~USD 11 billion annually, so tracking employee productivity hours is important in any business in North America. Time tracking offers necessary insights into the business, which helps improve employee performance.

North America Time Tracking Solution Market Revenue and Forecast to 2030 (US$ Million)

North America Time Tracking Solution Market Segmentation

The North America time tracking solution market is segmented based on deployment, organization size, application, and country.

Based on deployment, the North America 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 North America 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 North America 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 North America time tracking solution market is segmented into the US, Canada, and Mexico. The US dominated the North America time tracking solution market in 2022.

Replicon Inc, Clicktime.com 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 North America time tracking solution market.

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At 24.7% CAGR, North America Time Tracking Solution Market is Speculated to be Worth US$ 5,944.05 Million by 2030, Says the Research Team

According to the Research Team’ research, the North America time tracking solution market was valued at US$ 1,019.28 million in 2022 and is expected to reach US$ 5,944.05 million by 2030, registering a CAGR of 24.7% from 2022 to 2030. Adoption of GPS tracking solution and rise in concerns of time theft by employees are among the critical factors attributed to the North America 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.

On the contrary, lack of training and support hampers the growth of North America time tracking solution market.

Based on deployment, the North America time tracking solution market is bifurcated into on-premise and cloud. The on-premise segment held 52.9% share of the North America time tracking solution market in 2022, amassing US$ 539.17 million. It is projected to garner US$ 3,339.00 million by 2030 to expand at 25.6% CAGR during 2022-2030.

In terms of organization size, the North America time tracking solution market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 61.6% share of the North America time tracking solution market in 2022, amassing US$ 627.75 million. It is projected to garner US$ 3,586.47 million by 2030 to expand at 24.3% CAGR during 2022-2030.

By application, the North America time tracking solution market is segmented into tracking and reporting, payroll, and project management. The tracking and reporting segment held 55.2% share of the North America time tracking solution market in 2022, amassing US$ 562.23 million. It is projected to garner US$ 3,437.70 million by 2030 to expand at 25.4% CAGR during 2022-2030.

Based on country, the North America time tracking solution market is segmented into the US, Canada, and Mexico. The US held 81.3% share of North America time tracking solution market in 2022, amassing US$ 828.88 million. It is projected to garner US$ 4,967.11 million by 2030 to expand at 25.1% CAGR during 2022-2030.

Key players operating in the North America time tracking solution market are Replicon Inc, Clicktime.com Inc, ConnectWise LLC, UKG Inc, Kantata Inc, SAP SE, Time Doctor LLC, Wrike Inc, Zoho Corporation PVT Ltd, and Planview Inc, among others.

2023: UKG completed the acquisition of Immedis. The combination of UKG and Immedis creates a synergy that will deliver an innovative one-stop shop for employee timekeeping and payroll solutions.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America time tracking solutions market.
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 North America 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 North America 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. North America Time Tracking Solution Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain
5. North America Time Tracking Solution Market – Key Industry Dynamics
5.1 North America 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 – North America Market Analysis
6.1 North America Time Tracking Solution Market Revenue (US$ Million), 2022 – 2030
6.2 North America Time Tracking Solution Market Forecast and Analysis
7. North America 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. North America 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. North America 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. North America Time Tracking Solution Market – Country Analysis
10.1 Overview
10.1.1 North America Time Tracking Solution Market Breakdown by Key Country, 2022 and 2030 (%)
10.1.1.1 North America Time Tracking Solution Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 US Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 US Time Tracking Solution Market Breakdown by Deployment
10.1.1.2.2 US Time Tracking Solution Market Breakdown by Organization Size
10.1.1.2.3 US Time Tracking Solution Market Breakdown by Application
10.1.1.3 Canada Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Canada Time Tracking Solution Market Breakdown by Deployment
10.1.1.3.2 Canada Time Tracking Solution Market Breakdown by Organization Size
10.1.1.3.3 Canada Time Tracking Solution Market Breakdown by Application
10.1.1.4 Mexico Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Mexico Time Tracking Solution Market Breakdown by Deployment
10.1.1.4.2 Mexico Time Tracking Solution Market Breakdown by Organization Size
10.1.1.4.3 Mexico 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 clicktime.com Inc
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 ConnectWise LLC
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 UKG 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 Kantata Inc
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 SAP SE
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 TIME DOCTOR LLC
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 Wrike Inc
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 Zoho Corporation Pvt Ltd
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
13.10 Planview Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index

LIST OF TABLES

Table 1. North America Time Tracking Solution Market Segmentation
Table 2. North America Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. North America Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. North America Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million) -Organization Size
Table 5. North America Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. North America Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. US Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 8. US Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 9. US Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 10. Canada Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 11. Canada Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 12. Canada Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 13. Mexico Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment
Table 14. Mexico Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Organization Size
Table 15. Mexico Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 16. Heat Map Analysis by Key Players
Table 17. List of Abbreviation
 

LIST OF FIGURES

Figure 1. North America Time Tracking Solution Market Segmentation, By Country
Figure 2. Ecosystem: North America Time Tracking Solution Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America Time Tracking Solution Market Revenue (US$ Million), 2022 – 2030
Figure 5. North America 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. North America 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. North America 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. North America Time Tracking Solution Market by Key Country – Revenue (2022) (US$ Mn)
Figure 16. North America Time Tracking Solution Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 17. US Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 18. Canada Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 19. Mexico Time Tracking Solution Market Revenue and Forecasts to 2030 (US$ Mn)

The List of Companies – North America Time Tracking Solution Market

1. Replicon Inc
2. Clicktime.com Inc
3. ConnectWise LLC
4. UKG Inc
5. Kantata Inc
6. SAP SE
7. Time Doctor LLC
8. Wrike Inc
9. Zoho Corporation PVT Ltd
10. Planview Inc

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