Press release
Global Benefits Administration Software Market to 2025| Zenefits, Paycom, EmpowerHR/Pay, Ceridian, PlanSource, Paycor, Gusto, BambooHR, BreatheHR
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.
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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%.
In 2018, the global Benefits Administration Software market size was 650 million US$ and it is expected to reach 1210 million US$ by the end of 2025, with a CAGR of 8.0% during 2019-2025.
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This report focuses on the global Benefits Administration Software status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Benefits Administration Software development in United States, Europe and China.
The key players covered in this study
ADP
Workday
WEX Health
Benefitfocus
bswift
Namely
Zenefits
Paycom
EmpowerHR/Pay
Ceridian
PlanSource
Paycor
Gusto
BambooHR
BreatheHR
Zane Benefits
Market segment by Type, the product can be split into
On-Premise
Cloud-Based
Market segment by Application, split into
Small Business
Medium-sized Business
Large Business
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
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The study objectives of this report are:
To analyze global Benefits Administration Software status, future forecast, growth opportunity, key market and key players.
To present the Benefits Administration Software development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
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