Press release
Pension Administration Software Market is expected to reach USD 12.16 Billion by 2030: Cognitive Market Research
Pension Administration Software Market is expected to reach USD 12.16 Billion by 2030: Cognitive Market Research
- The pension administration software is a robust system, which helps handle multi-organization unit pensioners with a variety of pension schemes and rules. This is a browser-based, fully integrated software system with inclusive functionality for managing pension benefits. The pension administration software includes tools for handling plan assets and tracking, calculating benefits, and investments, statements for plan applicants generating reports, and terminations, and handling plan employments. This software helps to decrease process turnaround time in automating pension process and used to take more time to do manually.
Summary:
• The Global Pension Administration Software Market Size Was Valued at USD 5.21 Billion In 2022 And Is Expected to Grow at A CAGR Of 11.87 % During the Forecast Period, Reaching USD 12.16 Billion By 2030.
• North America has the largest revenue share in the pension administration software market.
"To know more about The Pension Administration Software Market statistics click here: https://www.cognitivemarketresearch.com/pension-administration-software-market-report
Market Dynamics
• Pension Administration Software Market Drivers:
Increasing advancement in technology for pension administration software helps to enhance the organization's bottom line, and efficiencies across the board and decrease procurement costs. This is the key factor expected to drive the growth of the pension administration software market. In addition, investing and managing pension funds in retired employees' saving accounts is made easy to adopt pension administration software technology expected to drive the growth of the target market.
• Pension Administration Software Market Opportunities:
Increasing technological advancements such as the automatic process of pension fund allocation, less process time less paperwork, and innovative technology are projected to create growth opportunities for the pension administration software market.
• Pension Administration Software Market Restraints:
Technology limitations for old age people and the technology to streamline the work associated with a pension is a task and making the aging acquainted. This is anticipated to hamper the growth of the pension administration software market.
Segmentation Analysis:
Component:
• Service
• Solution
Based on the component, the solution segment has the largest revenue share in the pension administration software market. This is attributed to pension administration software helping to enhance productivity and costs by decreasing the requirement for paper-based record-keeping and numerous manual processes. This is projected to drive the growth of this segment.
Type:
• Private Pension
• Public Pension
Based on type, the public pension segment has the largest market share in the pension administration software market. This is owing to the increasing demand for Public Pension administration software in local governments, state and federal. In addition, firefighters and police officers having access to pensions likely drive the growth of this segment.
End User:
• Government Agencies
• Employers
• Large Enterprises
• Pension Plan Administrators
• Others
Based on end users, large enterprises have the leading segment in the pension administration software market. This is due to large companies having pension schemes and complying with the regulations of these schemes expected to drive the growth of this segment.
The Major Players in Pension Administration Software Market are:
Aquila, Oracle, SAP, Visma, DATEV, UNIT4, Version Systems, Malam Payroll, SYNEL MLL PayWay, L&P Systems, Sagitec Solutions, Exaxe, Vitech Systems, Capita, Civica, Equiniti
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Regional Analysis:
- North America accounted for the largest share of the pension administration software market
North America has the largest revenue share in the pension administration software market. This is attributed to the presence of key financial solutions provide in the region. In addition, increasing advancement in the administration industry and financial management, owing to modern technologies includes big data, artificial intelligence, machine learning, and blockchain. This is anticipated to drive the growth of the pension administration software market in the region.
Pension Administration Software Market Industry News:
• Milliman has launched Milliman Agile ALM
In November 2022, Milliman officially company has launched Milliman Agile ALM. This software solution enables to access liability/asset management and stochastic assisting, valuation in meeting regulations such as Solvency II and IFRS 17.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Pension Administration Software Market
• 3.1 Global Pension Administration Software Market Size 2018 - 2030, (USD Million)
• 3.2 Global Pension Administration Software Value, Absolute & Opportunity Analysis
• 3.3 Global Pension Administration Software Market Y-o-Y Growth Rate Projection by Region (2023 - 2030)
• 3.4 Global Pension Administration Software Market Statistics 2022: Snapshot
Chapter 4 Global Pension Administration Software Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
• 6.1 Overall Company's Disclosure Score
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Pension Administration Software Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Pension Administration Software Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Pension Administration Software Market by Component Segmentation Analysis (2018-2030)
Chapter 12 Global Pension Administration Software Market Regional Analysis
Chapter 13 North America Pension Administration Software Market Outlook (2018 - 2030)
Chapter 14 Europe Pension Administration Software Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Pension Administration Software Market Outlook (2018 - 2030)
Chapter 16 Latin America Pension Administration Software Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Pension Administration Software Market Outlook (2018 - 2030)
Chapter 18 Research Findings
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To know more Pension Administration Software Market TOC click here: https://www.cognitivemarketresearch.com/pension-administration-software-market-report#table_of_contents
Related Report:
• Employment Screening Services Market - https://www.cognitivemarketresearch.com/employment-screening-service-market-report
• Pension Fund Market - https://www.cognitivemarketresearch.com/pension-fund-market-report
• Pension Insurance Market - https://www.cognitivemarketresearch.com/pension-insurance-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
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Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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