Global Benefits Administration Software Market Growth (Status and Outlook) 2023-2029
Benefits administration is the process of establishing, maintaining, and managing benefits for the employees of an organization. Employee benefits typically include medical insurance, pension plans, individual retirement accounts (IRAs), vacation time, sick time, and maternity leave. Numerous vendors offer software that can assist benefits administrators.
LPI (LP Information)' newest research report, the “Benefits Administration Software Industry Forecast” looks at past sales and reviews total world Benefits Administration Software sales in 2022, providing a comprehensive analysis by region and market sector of projected Benefits Administration Software sales for 2023 through 2029. With Benefits Administration Software sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Benefits Administration Software industry.
This Insight Report provides a comprehensive analysis of the global Benefits Administration Software landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Benefits Administration Software portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Benefits Administration Software market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Benefits Administration Software and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Benefits Administration Software.
The global Benefits Administration Software market size is projected to grow from US$ 868.4 million in 2022 to US$ 1527.6 million in 2029; it is expected to grow at a CAGR of 8.4% from 2023 to 2029.
The major manufacturers in this industry include ADP, Benefitfocus and Ceridian, whose revenue accounts for 19.91%, 16.9% and 9.34% respectively in 2018. By region, the U.S. has the highest share of regional income, at about 57% in 2019.
This report presents a comprehensive overview, market shares, and growth opportunities of Benefits Administration Software market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
On-Premise
Cloud-Based
Segmentation by application
Small Business
Medium-Sized Business
Large Business
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ADP
Workday
WEX Health
Benefitfocus
bswift
Namely
Zenefits
Paycom
EmpowerHR/Pay
Ceridian
PlanSource
Paycor
Gusto
BambooHR
BreatheHR
Zane Benefits
Please note: The report will take approximately 2 business days to prepare and deliver.
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