At 22.4% CAGR, Middle East & Africa Time Tracking Solution Market is Projected to be Worth US$ 1,142.59 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa time tracking solution market was valued at US$ 226.73 million in 2022 and is expected to reach US$ 1,142.59 million by 2030, registering a CAGR of 22.4% from 2022 to 2030. Rise in adoption of cloud-based time tracking solution and introduction of AI-based time tracking solution are among the critical factors attributed to the Middle East & Africa time tracking solution market expansion.

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.

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 Middle East & Africa time-tracking solution market.

On the contrary, lack of training and support hampers the growth of Middle East & Africa time tracking solution market.

Based on deployment, the Middle East & Africa time tracking solution market is bifurcated into on-premise and cloud. The on-premise segment held 63.5% share of the Middle East & Africa time tracking solution market in 2022, amassing US$ 143.90 million. It is projected to garner US$ 754.17 million by 2030 to expand at 23.0% CAGR during 2022–2030.

In terms of organization size, the Middle East & Africa time tracking solution market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 67.4% share of the Middle East & Africa time tracking solution market in 2022, amassing US$ 152.76 million. It is projected to garner US$ 757.56 million by 2030 to expand at 22.2% CAGR during 2022–2030.

By application, the Middle East & Africa time tracking solution market is segmented into tracking and reporting, payroll, and project management. The tracking and reporting segment held 59.5% share of the Middle East & Africa time tracking solution market in 2022, amassing US$ 134.89 million. It is projected to garner US$ 706.35 million by 2030 to expand at 23.0% CAGR during 2022–2030.

Based on country, the Middle East & Africa time tracking solution market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. The UAE held 41.6% share of Middle East & Africa time tracking solution market in 2022, amassing US$ 94.24 million. It is projected to garner US$ 524.47 million by 2030 to expand at 23.9% CAGR during 2022–2030.

Key players operating in the Middle East & Africa time tracking solution market are Replicon Inc, UKG Inc, SAP SE, Time Doctor LLC, Zoho Corporation PVT Ltd, and Planview Inc, among others.

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