MarketResearchNest.com
adds “Global Benefits Administration
Software Market Growth (Status and Outlook) 2019-2024”new report to its
research database.
This report studies the Benefits Administration Software
market, 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.
A good benefits
administration program creates and maintains an enrolment profile for every
employee, keeping track of information such as the date hired, marital status,
number of dependents, total hours worked, and attendance records. The program
offers flexibility, taking into account special employee needs, part-time and
temporary hires, and changes in government regulations. The benefits
administration program can function in tandem with tax preparation software,
ensuring that all allowable deductions are taken and maintaining detailed
records for reference in case of an audit.
Benefits Administration Software can be classified to
cloud-based and on-promise type, and the cloud-based type is leading the
growing market at present with the share of 57.06% in 2017.
Benefits Administration Software is mainly used for three
applications: Small Business, Medium-sized Business and Large Business. And
Large Business was the most widely used area which took up about 48.23% of the
global total in 2017.
United States is the largest consumption countries of
Benefits Administration Software in the world in the past few years and it will
keep increasing in the next few years. United States market took up about
57.82% the global market in 2017, while Europe was about 15.99%.
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According to this study, over the next five years the
Benefits Administration Software market will register a 8.0% CAGR in terms of
revenue, the global market size will reach US$ 1030 million by 2024, from US$
650 million in 2019. In particular, this report presents the global revenue
market share of key companies in Benefits Administration Software business,
shared in Chapter 3.
This report presents a comprehensive overview, market shares
and growth opportunities of Benefits Administration Software market by product
type, application, key companies and key regions.
This study considers
the Benefits Administration Software value generated from the sales of the
following segments:
Segmentation by
product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to
2024 in section 10.7.
·
On-Premise
·
Cloud-Based
Segmentation by
application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to
2024 in section 10.8.
·
Small
Business
·
Medium-sized
Business
·
Large
Business
Splits the market by
region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas, United States, Canada, Mexico, Brazil, APAC,
China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France,
UK, Italy, Russia, Spain, Middle East and Africa, Egypt,South Africa, Israel,
Turkey, GCC Countries
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The report also
presents the market competition landscape and a corresponding detailed analysis
of the major vendor/manufacturers in the market. The key manufacturers covered
in this report: Breakdown data in in Chapter 3.
·
ADP
·
Workday
·
WEX Health
·
Benefitfocus
·
bswift
·
Namely
·
Zenefits
·
Paycom
·
EmpowerHR/Pay
·
Ceridian
·
PlanSource
·
Paycor
·
Gusto
·
BambooHR
·
BreatheHR
·
Zane Benefits
In addition, this
report discusses the key drivers influencing market growth, opportunities, the
challenges and the risks faced by key manufacturers and the market as a whole.
It also analyzes key emerging trends and their impact on present and future
development.
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Research objectives
·
To study and analyze the global Benefits
Administration Software market size by key regions/countries, product type and
application, history data from 2014 to 2018, and forecast to 2024.
·
To understand the structure of Benefits
Administration Software market by identifying its various subsegments.
·
Focuses on the key global Benefits Administration
Software players, to define, describe and analyze the value, market share,
market competition landscape, SWOT analysis and development plans in next few
years.
·
To analyze the Benefits Administration Software
with respect to individual growth trends, future prospects, and their
contribution to the total market.
·
To share detailed information about the key
factors influencing the growth of the market (growth potential, opportunities,
drivers, industry-specific challenges and risks).
·
To project the size of Benefits Administration
Software submarkets, with respect to key regions (along with their respective
key countries).
·
To analyze competitive developments such as
expansions, agreements, new product launches and acquisitions in the market.
·
To strategically profile the key players and
comprehensively analyze their growth strategies.
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