Canada Time and Attendance Systems Market Size By Product Type(Proximity Cards, Biometrics), By Application(Retail, BFSI, Manufacturing, Hospital, Construction Sector, Commercial Office), By Geographic Scope And Forecast
Canada Time and Attendance Systems Market Size By Product Type(Proximity Cards, Biometrics), By Application(Retail, BFSI, Manufacturing, Hospital, Construction Sector, Commercial Office), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Canada Time and Attendance Systems Market Size And Forecast
Canada Time and Attendance Systems Market size was valued at USD 206.98 Million in 2021 and is projected to reach USD 401.00 Million by 2030, growing at a CAGR of 6.86% from 2023 to 2030.
Rapid adoption of automation in the human resource management (HRM) system, which is also contributing to the growth of the market. This, along with the wide-ranging benefits and features of the time and attendance system, is propelling the growth of the market. The Canada Time and Attendance Systems Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What are Time and Attendance Systems?
Time and attendance systems make clocking in and out a snap for your team! They can use timeclocks, their internet-connected PCs, phones – you name it, even their own mobile devices. And get this, some systems are so versatile they let people use text messages, Twitter, or messaging apps like Slack. The moment someone clocks in or out, the info instantly shoots over to the software, making payroll a piece of cake. But it's not just about tracking arrival and departure times. These systems also manage paid time off (PTO), help you build employee calendars, whip up detailed labor reports, and give you a live look at who's on the job, who's out, who's running behind, and who's nearing overtime – even if they're working remotely!
The automatic time tracking of employees’ working hours, the generation of digital timesheets to track payroll processes, and the provision of real-time attendance data to management are just a few of the tasks that time and attendance management systems perform. As a result, it is frequently used to prevent buddy punching and keep track of overtime in a variety of end-use industries, including BFSI, healthcare, construction & management, and retail.
Canada Time and Attendance Systems Market Overview
The market growth can be attributed to the growing need for time and attendance tracking to improve the productivity of employees in organizations of different verticals in Canada. In addition to this, there is a rapid adoption of automation in the human resource management (HRM) system, which is also contributing to the growth of the market. This, along with the wide-ranging benefits and features of the time and attendance system, is propelling the growth of the market.
So, time clocking-in and out systems – or time and attendance systems – are super useful for everyone in tracking work hours. They're smart cookies, figuring out everything from your actual hours to vacation time and overtime, which means you get paid accurately and on time, hopefully! There's a whole range of these systems to choose from, depending on what you need. Take proximity card systems, for instance, which use readers to scan your card, key fob, or badge. These not only record your clocking in and out times, but can even keep track of employee movement around the office. And then you have biometric systems – these are seriously advanced, using facial recognition, eye scans, or fingerprints to make absolutely sure it's really you clocking in.
Canada Time and Attendance Systems MarketSegmentation Analysis
The Canada Time and Attendance Systems Market is segmented on the basis of Product Type, Application, and geography.
Canada Time and Attendance Systems Market by Product Type
Proximity Cards
Biometrics
Others
To Get Summarized Market Report By Product Type-
Based on the Product Type, the market is segmented into Proximity Cards, Biometrics, and Others. Proximity Cards accounted for the largest market share of 55.1% in 2021, with a market value of USD 114.1 Million and is anticipated to grow at a CAGR of 6.6% during the forecast period.
Canada Time and Attendance Systems Market by Application
Retail
BFSI
Manufacturing
Hospital
Construction Sector
Commercial Office
Government Office
Others
To Get Summarized Market Report By Application-
On the basis of Application, the Canada Time and Attendance Systems Market is segmented into Retail, BFSI, Manufacturing, Hospital, Construction Sector, Commercial Office, Government Office, and Others. Retail accounted for the largest market share of 19.9% in 2021, with a market value of USD 41.3 Million, and is projected to grow at a CAGR of 7.27% during the forecast period.
Canada Time and Attendance Systems Market by Geography
Ontario
Quebec
British Columbia
Alberta
Rest of Canada
To Get Summarized Market Report By Geography-
On the basis of regional analysis, the Canada Time and Attendance Systems Market is segmented into Ontario, Quebec, British Columbia, Alberta, and the Rest of Canada. Ontario accounted for the largest market share of 38.8% in 2021, with a market value of USD 80.4 Million and is projected to grow at the highest CAGR of 7.27% during the forecast period.
Key Players
The major players in the market are ADP, Kronos, Synerion, Mitrefinch, AMGtime, UAttend, Enterprise Time Recording Solutions Inc, and Apex Time Solutions.
The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value(USD(Million))
KEY COMPANIES PROFILED
ADP, Kronos, Synerion, Mitrefinch, AMGtime, UAttend, Enterprise Time Recording Solutions Inc, and Apex Time Solutions.
SEGMENTS COVERED
By Product Type, By Application & By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
Canada Time and Attendance Systems Market Infographic
Research Methodology of Market Research
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Reasons to Purchase this Report
We don't just scratch the surface – we really dive into the market, looking at hard numbers and softer stuff like how people actually behave to figure out the different market segments. And we're not just talking generalitiesyou'll get real market value data (in USD Billion!) for each segment and even smaller sub-segments. We'll tell you which region and segment are about to take off and which ones are already leading the pack. Our geographical analysis explains what's driving the market in each area by looking at how products and services are used. We've also mapped out who's who in the competitive landscape, ranking the major players and keeping tabs on new product releases, partnerships, expansions, and acquisitions from the past five years. You'll get detailed company profiles that include overviews, insights, product comparisons, and SWOT analyses. We'll give you the inside scoop on the current situation and where things are headed, pointing out growth opportunities, what's fueling the market, and the challenges ahead, in both new and established markets. Plus, we break things down using Porter's five forces and give you a peek at the Value Chain to see how it all fits together. Finally, we'll explore what's moving the market and where the future growth is. Oh, and we're throwing in 6 months of analyst support after you buy!
Customization of the Report
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For a single, multi and corporate client license, the report will be available in PDF format.
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Sample Report for Canada Time and Attendance Systems Market Size By Product Type(Proximity Cards, Biometrics), By Application(Retail, BFSI, Manufacturing, Hospital, Construction Sector, Commercial Office), By Geographic Scope And Forecast
