Market Overview:
The global benefits support software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based and web-based benefits support software by small and medium enterprises (SMEs) across the globe. North America is expected to hold the largest share of the global benefits support software market in 2018, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Benefits support software is a type of software that is used to help manage and track employee benefits. This type of software can be very helpful in tracking and managing employee benefits, as well as providing information to employees about their benefits. Additionally, this type of software can also help employers keep track of benefit costs.
Cloud-based:
Cloud-based software is a type of software service model that provides solutions to customers through the internet. It offers benefits such as on-demand availability of resources, easy accessibility from any device, and low maintenance. The cloud services model includes four types of services: Platform as a Service (PaaS), Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Delivery as a Service (DaaS).
Web-based:
Benefits Support Software is used to provide support for all the benefits-related operations. It helps in managing and providing information related to employee benefits, insurance claims, and other services. The software is web-based and hence it can be accessed from any location via a computer or mobile phone with an internet connection.
Application Insights:
The large enterprise segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The large enterprises are adopting BSS as they offer various benefits such as time & cost savings, improved service quality, and enhanced operational efficiency. The adoption of BSS among large enterprises has been growing steadily over the past few years owing to their preference for off-the-shelf software that offers pre-integrated solutions with a high degree of functionality at a lower price point than custom developed applications.
The small and medium enterprise (SME) segment is expected to register significant growth during the forecast period owing to increasing penetration of internet technologies such as eProcurement, eBenefits, etc., which facilitate easy access to information regarding suppliers¢â‚¬â„¢ performance across different departments within an organization thereby enabling efficient decision making processes leading towards increased penetration.
Regional Analysis:
North America is expected to be the largest market for benefits support software over the forecast period. The growth can be attributed to various factors such as increasing adoption of cloud-based BSS, rising demand for integrated human resource and benefits management solutions, and growing need for streamlining of HR processes. Moreover, presence of a large number of vendors in this region is anticipated to fuel market growth over the next eight years.
Asia Pacific is estimated to witness significant growth during the forecast period owing to increasing government initiatives in developing countries such as India and China aimed at implementation of modern BSSS with focus on reducing costs associated with administration workflows. In addition, favorable regulatory frameworks are also expected drive regional market development during the same period.
Growth Factors:
- Increasing demand for cloud-based benefits support software due to its scalability and flexibility.
- Proliferation of mobile devices and BYOD policies, which is driving the need for benefits support software that can be accessed from anywhere at any time.
- The increasing complexity of employee benefit plans is fueling the need for sophisticated benefits support software solutions that can help employers manage their plans more effectively.
- Rising healthcare costs are prompting employers to seek out better ways to manage their employee health benefits, and many are turning to benefits support software as a solution.
- Growing awareness of the value that good Benefits Support Software can bring to an organization is encouraging more businesses to invest in these solutions, resulting in market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Benefits Support Software Market Research Report
By Type
Cloud-based, Web-based, Benefits Support Softwar
By Application
Large Enterprise, Small And Medium Enterprise
By Companies
bswift, Empyrean Benefit Solutions, Jellyvision, Businessolver, Castlight, Hodges-Mace, Zest Health, Alight, Clearview Logix, Evive, Flimp Communications, IBM, My Benefit Express, Picwell, Tango Health, Benefits Support Softwar
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Benefits Support Software Market Report Segments:
The global Benefits Support Software market is segmented on the basis of:
Types
Cloud-based, Web-based, Benefits Support Softwar
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprise, Small And Medium Enterprise
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- bswift
- Empyrean Benefit Solutions
- Jellyvision
- Businessolver
- Castlight
- Hodges-Mace
- Zest Health
- Alight
- Clearview Logix
- Evive
- Flimp Communications
- IBM
- My Benefit Express
- Picwell
- Tango Health
- Benefits Support Softwar
Highlights of The Benefits Support Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud-based
- Web-based
- Benefits Support Softwar
- By Application:
- Large Enterprise
- Small And Medium Enterprise
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Benefits Support Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Benefits Support Software is a software application that helps employers manage employee benefits. Benefits support software can include features such as creating and managing benefit plans, tracking employee contributions, and issuing payments to employees.
Some of the key players operating in the benefits support software market are bswift, Empyrean Benefit Solutions, Jellyvision, Businessolver, Castlight, Hodges-Mace, Zest Health, Alight, Clearview Logix, Evive, Flimp Communications, IBM, My Benefit Express, Picwell, Tango Health, Benefits Support Softwar.
The benefits support software market is expected to grow at a compound annual growth rate of 10.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Benefits Support Software Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Benefits Support Software Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Benefits Support Software Market - Supply Chain
4.5. Global Benefits Support Software Market Forecast
4.5.1. Benefits Support Software Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Benefits Support Software Market Size (000 Units) and Y-o-Y Growth
4.5.3. Benefits Support Software Market Absolute $ Opportunity
5. Global Benefits Support Software Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Benefits Support Software Market Size and Volume Forecast by Type
5.3.1. Cloud-based
5.3.2. Web-based
5.3.3. Benefits Support Softwar
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Benefits Support Software Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Benefits Support Software Market Size and Volume Forecast by Application
6.3.1. Large Enterprise
6.3.2. Small And Medium Enterprise
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Benefits Support Software Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Benefits Support Software Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Benefits Support Software Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Benefits Support Software Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Benefits Support Software Demand Share Forecast, 2019-2026
9. North America Benefits Support Software Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Benefits Support Software Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Benefits Support Software Market Size and Volume Forecast by Application
9.4.1. Large Enterprise
9.4.2. Small And Medium Enterprise
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Benefits Support Software Market Size and Volume Forecast by Type
9.7.1. Cloud-based
9.7.2. Web-based
9.7.3. Benefits Support Softwar
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Benefits Support Software Demand Share Forecast, 2019-2026
10. Latin America Benefits Support Software Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Benefits Support Software Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Benefits Support Software Market Size and Volume Forecast by Application
10.4.1. Large Enterprise
10.4.2. Small And Medium Enterprise
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Benefits Support Software Market Size and Volume Forecast by Type
10.7.1. Cloud-based
10.7.2. Web-based
10.7.3. Benefits Support Softwar
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Benefits Support Software Demand Share Forecast, 2019-2026
11. Europe Benefits Support Software Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Benefits Support Software Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Benefits Support Software Market Size and Volume Forecast by Application
11.4.1. Large Enterprise
11.4.2. Small And Medium Enterprise
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Benefits Support Software Market Size and Volume Forecast by Type
11.7.1. Cloud-based
11.7.2. Web-based
11.7.3. Benefits Support Softwar
11.8. Basis Point Share (BPS) Analysis by Tye
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Benefits Support Software Demand Share, 2019-2026
12. Asia Pacific Benefits Support Software Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Benefits Support Software Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Benefits Support Software Market Size and Volume Forecast by Application
12.4.1. Large Enterprise
12.4.2. Small And Medium Enterprise
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Benefits Support Software Market Size and Volume Forecast by Type
12.7.1. Cloud-based
12.7.2. Web-based
12.7.3. Benefits Support Softwar
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Benefits Support Software Demand Share, 2019-2026
13. Middle East & Africa Benefits Support Software Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Benefits Support Software Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Benefits Support Software Market Size and Volume Forecast by Application
13.4.1. Large Enterprise
13.4.2. Small And Medium Enterprise
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Benefits Support Software Market Size and Volume Forecast by Type
13.7.1. Cloud-based
13.7.2. Web-based
13.7.3. Benefits Support Softwar
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Benefits Support Software Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Benefits Support Software Market: Market Share Analysis
14.2. Benefits Support Software Distributors and Customers
14.3. Benefits Support Software Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. bswift
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Empyrean Benefit Solutions
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Jellyvision
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Businessolver
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Castlight
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hodges-Mace
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Zest Health
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Alight
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Clearview Logix
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Evive
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Flimp Communications
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. IBM
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. My Benefit Express
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Picwell
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Tango Health
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Benefits Support Softwar
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
