Global Benefits Management Services Market Growth (Status and Outlook) 2024-2030

Global Benefits Management Services Market Growth (Status and Outlook) 2024-2030

In order to attract and retain talents, many companies will provide additional benefits to employees to meet their work and life needs.

The global Benefits Management Services market size is projected to grow from US$ 1637.6 million in 2023 to US$ 2998.4 million in 2030; it is expected to grow at a CAGR of 9.0% from 2024 to 2030.

LPI (LP Information)' newest research report, the “Benefits Management Services Industry Forecast” looks at past sales and reviews total world Benefits Management Services sales in 2023, providing a comprehensive analysis by region and market sector of projected Benefits Management Services sales for 2024 through 2030. With Benefits Management Services sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Benefits Management Services industry.

This Insight Report provides a comprehensive analysis of the global Benefits Management Services 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 Management Services portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Benefits Management Services market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Benefits Management Services 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 Management Services.

The future market trends of BMS are influenced by several external factors and internal challenges, such as the COVID-19 pandemic, the growing focus on diversity, equity, and inclusion, the tight labor market, and the increased remote working. These factors are driving the demand for more flexible, personalised, and integrated benefit solutions that can improve the employee experience, engagement, and loyalty Some of the key trends in BMS are:

The adoption of cloud-based and AI-enabled platforms that can streamline the benefit administration, provide data-driven insights, and offer tailored recommendations.

The expansion of benefit offerings to include health and wellness, mental health, employee assistance programs, income protection, and discounts and perks.

The integration of BMS with other HR systems and mobile apps to enhance the accessibility, convenience, and communication of benefits.

The outsourcing of BMS to third-party providers that can offer expertise, innovation, and compliance in benefit design and delivery.

This report presents a comprehensive overview, market shares, and growth opportunities of Benefits Management Services market by product type, application, key players and key regions and countries.

Segmentation by type
Cloud-based
On-premises

Segmentation by application
Large Enterpries
SMEs

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.
Paychex Flex
Zenefits
Dayforce HCM
QuickBooks Payroll
UKG Pro
isolved
Justworks
UZIO
TriNet
PeopleStrategy
Asure HR Management
PlatinumHR
WageWorks
Sequoia
Tandem HR
XcelHR
Engage PEO
Optimum
Insperity Recruiting
LandrumHR

Please note: The report will take approximately 2 business days to prepare and deliver.