This report studies the Benefits Administration Software Market with many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Find the complete Benefits Administration Software Market analysis segmented by companies, region, type and applications in the report.
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%.
Over the next five years, Benefits Administration Software will register a 8.0% CAGR in terms of revenue, reach US$ 1030 million by 2023, from US$ 650 million in 2017.
Company profiles are primarily based on public domain information including company: ADP, Workday, WEX Health, Benefitfocus, bswift, Namely, Zenefits, Paycom, EmpowerHR/Pay, Ceridian, PlanSource, Paycor, Gusto, BambooHR, BreatheHR, Zane Benefits
Benefits Administration Software Market continues to evolve and expand in terms of the number of companies, products, and applications that illustrates the growth perspectives. The report also covers the list of Product range and Applications with SWOT analysis, CAGR value, further adding the essential business analytics. Benefits Administration Software Market research analysis identifies the latest trends and primary factors responsible for market growth enabling the Organizations to flourish with much exposure to the markets.
We can also provide the customized separate regional or country-level reports, for the following regions:
- Americas: United States, Canada, Mexico, Brazil
- APAC: China, Japan, Korea, Southeast Asia, India, Australia
- Europe: Germany, France, UK, Italy, Russia, Spain
- Middle East & Africa: Egypt, South Africa, Israel, Turkey, GCC Countries
- To study and analyze the global Benefits Administration Software market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- 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.
Key Developments in the Benefits Administration Software Market
- To describe Benefits Administration Software Introduction, product type and application, market overview, market analysis by countries, market opportunities, market risk, market driving force;
- To analyze the manufacturers of Benefits Administration Software, with profile, main business, news, sales, price, revenue and market share in 2017 and 2019;
- To display the competitive situation among the top manufacturers in Global, with sales, revenue and market share in 2017 and 2019;
- To show the market by type and application, with sales, price, revenue, market share and growth rate by type and application, from 2014 to 2019;
- To analyze the key countries by manufacturers, Type and Application, covering North America, Europe, Asia Pacific, Middle-East and South America, with sales, revenue and market share by manufacturers, types and applications;
- Benefits Administration Software market forecast, by countries, type and application, with sales, price, revenue and growth rate forecast, from 2019 to 2023;
- To analyze the manufacturing cost, key raw materials and manufacturing process etc.
- To analyze the industrial chain, sourcing strategy and downstream end users (buyers);
- To describe Benefits Administration Software sales channel, distributors, traders, dealers etc.
- To describe Benefits Administration Software Research Findings and Conclusion, Appendix, methodology and data source
The Benefits Administration Software Market research report completely covers the vital statistics of the capacity, production, value, cost/profit, supply/demand import/export, further divided by company and country, and by application/type for best possible updated data representation in the figures, tables, pie chart, and graphs. These data representations provide predictive data regarding the future estimations for convincing market growth. The detailed and comprehensive knowledge about our publishers makes us out of the box in case of market analysis.
In this study, the years considered to estimate the market size of Benefits Administration Software are as follows:
- History Year: 2014-2017
- Base Year: 2017
- Estimated Year: 2019
- Forecast Year 2019 to 2023
This report includes the estimation of market size for value (million USD) and volume (M Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Benefits Administration Software market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
Table of Contents
- Section 1 Report Overview
- Section 2 Global Growth Trends
- Section 3 Market Share by Key Players
- Section 4 Breakdown Data by Type and Application
- Section 5 United States Benefits Administration Software Market Size (2014-2019)
- Section 6 Europe Benefits Administration Software Market Size (2014-2019)
- Section 7 China Benefits Administration Software Market Size (2014-2019)
- Section 8 Japan Benefits Administration Software Market Size (2014-2019)
- Section 9 Southeast Asia Benefits Administration Software Market Size (2014-2019)
- Section 10 India Benefits Administration Software Market Size (2014-2019)
- Section 11 Central & South America Benefits Administration Software Market Size (2014-2019)
- Section 12 International Players Profiles
Key questions answered in this report
- What will the market size be in 2023 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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