Market Overview:
The global time and expense tracking software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing adoption of cloud-based time and expense tracking software by small and medium enterprises (SMEs) due to its low cost, easy deployment, and scalability. Additionally, the growing demand for real-time visibility into employee expenses is also propelling the growth of this market.
Product Definition:
Time and expense tracking software is used to track the time spent on a project and the costs associated with it. This information can be used to generate invoices, reports, or simply keep track of where money is being spent. Time and expense tracking software can be important for businesses as it allows them to see where they are spending their money and how efficiently they are using their resources.
Cloud Based:
Cloud-based software is a type of software service that provides functionality to its users through the internet. It helps organizations in storing data on remote servers and using it across multiple devices. Cloud-based time & expense tracking solutions are used by small, medium and large enterprises for various purposes such as invoicing, billing, inventory management among others.
On Premise:
On premise time and expense tracking software is used to track the employee working hours, project or task time, and expenses. The software can be installed on the company’s server or workstation. It can also be accessed over a network from different locations within the organization. This software is widely used by small & medium enterprises as it offers cost control benefits along with improved profitability through better utilization of resources.
Application Insights:
The large enterprises segment accounted for the largest market share in 2017. The growth of this segment can be attributed to the fact that a large number of small and medium-sized businesses prefer to use time and expense tracking software as it is more convenient than writing down notes every day or fortnight. Moreover, with the help of advanced features, such as project management, employees are able to access historical data from different dates easily. This has led to an increased demand among SMEs fortime andexpense tracking softwaresmall business solutions big business solutions.
The SME's segment is expected to grow at a significant rate over the forecast period owingto factors such as increasing penetration of internet cafesand WIFI hot spots across developing countries like India China etc where people work from home or remote offices frequently switching between fixed.
Regional Analysis:
North America dominated the global time and expense tracking software market in 2017. The region is expected to continue its dominance over the forecast period as well. This can be attributed to factors such as increasing government regulations, high cost of employee absence management, and growing need for compliance among employers with government policies regarding timekeeping & billing of expenses incurred by employees while on business trips/ leaves.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to several initiatives taken up by governments across various countries in order to promote digitalization in their economies. In addition, rising number of small & medium enterprises (SMEs) that use accounting software at home or office may also contribute towards regional growth during the same period. Furthermore, rapid technological advancements coupled with presence of key players such as Microsoft Corporation; Intuit Inc.; QuickBooks Online LLC; Xero Ltd.; and Yodlee Inc.
Growth Factors:
- Increasing demand for cloud-based time and expense tracking software due to its ease of use and low cost.
- Growing number of small businesses that are looking for an affordable and easy-to-use solution for time and expense tracking.
- The increasing adoption of mobile devices, which is helping to drive the demand for time and expense tracking software that can be used on smartphones and tablets.
- The growing popularity of freelancing, which is fueling the demand for time tracking software that can help freelancers manage their projects more effectively.
- The increasing focus on compliance with government regulations, which is driving the need for time and expense tracking software in organizations across all industries
Scope Of The Report
Report Attributes
Report Details
Report Title
Time And Expense Tracking Software Market Research Report
By Type
Cloud Based, On Premise
By Application
Large Enterprises, SMEs
By Companies
Replicon TimeBill, TimeLive, BQE Core, BigTime, TimeSolv Legal, Unanet, NetSuite OpenAir, FINSYNC, OfficeTools, CrossConcept Continuum, Clearview InFocus, Sage Intacct, Deskera ERP, Beyond Software, Deltek Vision, Mavenlink, FinancialForce, NetSuite Services Resource Planning (SRP), Nexonia Expense Reports, Journyx
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Time And Expense Tracking Software Market Report Segments:
The global Time And Expense Tracking Software market is segmented on the basis of:
Types
Cloud Based, On Premise
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Replicon TimeBill
- TimeLive
- BQE Core
- BigTime
- TimeSolv Legal
- Unanet
- NetSuite OpenAir
- FINSYNC
- OfficeTools
- CrossConcept Continuum
- Clearview InFocus
- Sage Intacct
- Deskera ERP
- Beyond Software
- Deltek Vision
- Mavenlink
- FinancialForce
- NetSuite Services Resource Planning (SRP)
- Nexonia Expense Reports
- Journyx
Highlights of The Time And Expense Tracking Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Based
- On Premise
- By Application:
- Large Enterprises
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Time And Expense Tracking Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Time and expense tracking software is a computer application that helps users keep track of their time, expenses, and other related data. This software can be used to manage personal finances, track work hours, or monitor project progress.
Some of the major companies in the time and expense tracking software market are Replicon TimeBill, TimeLive, BQE Core, BigTime, TimeSolv Legal, Unanet, NetSuite OpenAir, FINSYNC, OfficeTools, CrossConcept Continuum, Clearview InFocus, Sage Intacct, Deskera ERP, Beyond Software, Deltek Vision, Mavenlink, FinancialForce, NetSuite Services Resource Planning (SRP), Nexonia Expense Reports, Journyx.
The time and expense tracking software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Time And Expense Tracking Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Time And Expense Tracking Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Time And Expense Tracking Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Time And Expense Tracking Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Time And Expense Tracking Software Market Size & Forecast, 2018-2028
4.5.1 Time And Expense Tracking Software Market Size and Y-o-Y Growth
4.5.2 Time And Expense Tracking Software Market Absolute $ Opportunity
Chapter 5 Global Time And Expense Tracking Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Time And Expense Tracking Software Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 On Premise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Time And Expense Tracking Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Time And Expense Tracking Software Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Time And Expense Tracking Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Time And Expense Tracking Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Time And Expense Tracking Software Analysis and Forecast
9.1 Introduction
9.2 North America Time And Expense Tracking Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Time And Expense Tracking Software Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 On Premise
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Time And Expense Tracking Software Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Time And Expense Tracking Software Analysis and Forecast
10.1 Introduction
10.2 Europe Time And Expense Tracking Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Time And Expense Tracking Software Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 On Premise
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Time And Expense Tracking Software Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Time And Expense Tracking Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Time And Expense Tracking Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Time And Expense Tracking Software Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 On Premise
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Time And Expense Tracking Software Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Time And Expense Tracking Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Time And Expense Tracking Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Time And Expense Tracking Software Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 On Premise
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Time And Expense Tracking Software Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Time And Expense Tracking Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Time And Expense Tracking Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Time And Expense Tracking Software Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 On Premise
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Time And Expense Tracking Software Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Time And Expense Tracking Software Market: Competitive Dashboard
14.2 Global Time And Expense Tracking Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Replicon TimeBill
14.3.2 TimeLive
14.3.3 BQE Core
14.3.4 BigTime
14.3.5 TimeSolv Legal
14.3.6 Unanet
14.3.7 NetSuite OpenAir
14.3.8 FINSYNC
14.3.9 OfficeTools
14.3.10 CrossConcept Continuum
14.3.11 Clearview InFocus
14.3.12 Sage Intacct
14.3.13 Deskera ERP
14.3.14 Beyond Software
14.3.15 Deltek Vision
14.3.16 Mavenlink
14.3.17 FinancialForce
14.3.18 NetSuite Services Resource Planning (SRP)
14.3.19 Nexonia Expense Reports
14.3.20 Journyx
