The Global Mobile Attendance Tracking Software Market was valued at US$ 1,279.2 million in 2020 and is expected to reach US$ 8,230.3 million by 2027, expanding at a CAGR of 30.7% during the forecast period.
Mobile attendance tracking systems feature a self-service function that allows employees to handle many time-tracking tasks on their own, including reviewing the hours they've worked, their current and future schedules, and paid-time-off details. Mobile attendance tracking allows employees to clock in and out electronically via time clocks, internet-connected computers, mobile devices, and telephones. Moreover, it helps in tracking features are a common offering with HRIS software these days and can help organizations to best manage their employees’ hours and productivity. Rising need for employee efficiency and productivity. In addition, the advanced analytical tools offer employers with an enhanced understanding of the behavior of the employees. Such perceptions have impelled organizations to apply content analytics and predictive in improving operational efficiency. Increasing cloud-based solutions is also another key factor that is propelling the growth of the Mobile attendance tracking software market across the globe.
COVID-19 forced many businesses to transition to a remote workforce, within a little time to prepare, tracking absences and leave became more challenging and therefore the need to avail mobile attendance tracking software in the companies around the world, helped it to gain a robust demand in the market. Preventing Biometric attendance has resulted from a positive impact upon the mobile attendance tracking software. Many countries are suspending the usage of a biometric attendance system. For instance, in March 2020, the Delhi government in India announced the suspension of biometric attendance in its offices via letters written to principal secretaries, secretaries, autonomous bodies, and municipal corporations for the suspension of biometric attendance to contain the spread of coronavirus. Moreover, Facial recognition is the new technology that is being adopted by several organizations thereby resulting to rise in investments towards this technology among the suppliers of mobile attendance tracking software.
The rise in cloud adoption is expected to propel the adoption of mobile attendance tracking software
The cloud-based attendance system is nothing but cloud-computing technology-based time attendance management software that stores the attendance data/records of users/employees over a cloud server. The cloud server enables an admin or HR manager to retrieve or access attendance-related data of users/employees at any time, and anywhere remotely from the cloud database. Cloud deployment allows most system-based applications to run on an open and flexible architecture. Using the cloud for workforce management (WFM) helps reduce an IT administrator’s job by ensuring cost-effective and smooth workflow. With the adoption of the cloud, organizations understand that it reduces the overall costs, improves implementation, gives scalability, provides easy access, and reduces complexities. Therefore, time & scheduling and absence management functions are areas that take advantage of cloud and run according to protocols. Moreover, cloud solutions reduce the physical implementation of hardware devices to implement the solution, which is the reason for increasing the number of organizations to shift to cloud-based WFM systems. Due to the aforesaid reasons, the increasing demand for cloud-based WFM solutions is driving the overall demand for the workforce management market. The increased demand for cloud computing services is a major growth driver, which is fueling the growth of the time & attendance software market. Employees can easily request time off or shift changes. They can also schedule leave or communicate with HR members about absences or tardiness.
In terms of market by Deployment, the cloud-based segment accounted for the largest segment in the mobile attendance tracking software market and is expected to continue its dominance during the forecast period.
The cloud deployment segment accounted for around 91.5% of the total market share in the global mobile attendance tracking software industry. As per industry experts, the global public cloud services spending is expected to reach US$ 360 billion by 2022 and has become a socio-economic issue worldwide. The cloud deployment segment size was around US$ 1,172.3 million in 2020 and is projected to grow at a significant CAGR during the forecast period.
North America Mobile Attendance Tracking Software Size accounted for the largest market share in 2020.
North America dominated the market in 2020 and is expected to display a similar trend in the coming years. In the U.S most office workers (83%) want to work from home at least one day a week, and half of the employers (55%) anticipate that most of their workers will do so long after COVID-19 is not a concern. Therefore this has resulted in strong demand for mobile attendance facilities thereby driving the market growth. North America Mobile Attendance Tracking Software Market was valued at US$ 421.8 million in 2020 and is expanding at a significant growth rate during the forecast period.
|1||Increasing Demand to Streamline Business Processes- organizations adopting automated time, attendance, and scheduling solutions have resulted in 8% to 20% reduced replacement cost for hourly workers which is a result of decrease in the administration cost required to manage manual functions.||Positive|
|2||Every organization is looking for analytical tools that provide real-time insight into workforce activity. The time tracking systems offer businesses access to a menu of standard and customizable reports, generally accessed through the dashboard of their online time and attendance system.||Positive|
|3||Rising trend of employee self-service as businesses have recognized the need to stay connected to the workforce, especially with remote employees. The mobile time tracking application provides an employee self-service portal that allows employees and HR staff to share information anytime, from anywhere.||
|Sr. No.||Type of Development||Year||News and Developments in the Mobile Attendance Tracking Software market|
|1||Partnership||Nov-20||Time Doctor, a global leader in time tracking and productivity, announced its partnership with Redington, the largest IT software distributor in India to bring to market its time tracking and productivity solution for mid-market and enterprise business.|
|2||Collaboration||2020||Toggl Track has announced its collaboration with Adobe Creative Cloud Team to bring a lightweight & effortless time tracking plugin which will enable the time entries logged in the app (Adobe Photoshop & Adobe XD) to automatically sync across Toggl Track’s desktop, mobile & web apps.|
|3||Product Launch||2020||The company introduced an update for their DeskTime mobile app which has updated user experience and additional features including a mobile timer for on-the-go time tracking, log offline time, and assignment of time to individual projects.|
|4||Product Launch||2019||DeskTime introduced the Employee Shift Scheduling feature in their app. The feature enables managers to plan shifts of their employees, map the created shifts, avoid over and understaffing and overall mapping of the employee's productivity|
The key players operating in the market are:
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Note*- Similar pointers are applicable to all the listed companies.