Welfare Management Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The application of welfare management software across enterprises boost the morale of the employees, which is creating lucrative opportunities for the welfare management software market in the forecast period. Furthermore, the deployment of this software also improve the industrial relations, social benefits, and invites more employees to join the organization is also boosting the requirement of welfare management software by the globally.
MARKET DYNAMICS
The mounting demand of medical insurance, pension plans, individual retirement accounts (IRAs) among the employees in an organization is driving the growth of the welfare management software market. However, limited awareness about the benefits of the software may restrain the growth of the Welfare Management Software market. Furthermore, growing deployment of this software to build a competitive edge is anticipated to create market opportunities for the welfare management software market during the forecast period.
MARKET SCOPE
The "Global Welfare Management Software market Analysis to 2028" is a specialized and in-depth study of the Welfare Management Software market with a special focus on the global market trend analysis. The report aims to provide an overview of Welfare Management Software market with detailed market segmentation by type, enterprise size, and geography. The global Welfare Management Software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Welfare Management Software market players and offers key trends and opportunities in the Welfare Management Software market.
MARKET SEGMENTATION
The global Welfare Management Software market is segmented on the basis of deployment type and enterprise size. Based on deployment type the market is fragmented into on-premises and cloud. Similarly, on the basis of enterprise size the market is fragmented into SMEs and large enterprise.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Welfare Management Software market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Welfare Management Software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Welfare Management Software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Welfare Management Software market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Welfare Management Software market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Welfare Management Software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Welfare Management Software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Welfare Management Software market in these regions.
MARKET PLAYERS
The reports cover key developments in the Welfare Management Software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Welfare Management Software market are anticipated to lucrative growth opportunities in the future with the rising demand for Welfare Management Software market. Below mentioned is the list of few companies engaged in the Welfare Management Software market.
The report also includes the profiles of key Welfare Management Software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
1. ADP, Inc.
2. Benefitfocus
3. Ceridian
4. EmpowerHR by Fusion5
5. Gusto
6. Paycor
7. PlanSource
8. WEX Inc.
9. Workday
10. Zenefits
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Welfare Management Software Market - By Deployment Type
1.3.2 Welfare Management Software Market - By Enterprise Size
1.3.3 Welfare Management Software Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WELFARE MANAGEMENT SOFTWARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. WELFARE MANAGEMENT SOFTWARE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. WELFARE MANAGEMENT SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. WELFARE MANAGEMENT SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. WELFARE MANAGEMENT SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WELFARE MANAGEMENT SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
7.1. OVERVIEW
7.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
7.3. ON-PREMISES
7.3.1. Overview
7.3.2. On-Premises Market Forecast and Analysis
7.4. CLOUD
7.4.1. Overview
7.4.2. Cloud Market Forecast and Analysis
8. WELFARE MANAGEMENT SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
8.1. OVERVIEW
8.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
8.3. SMES
8.3.1. Overview
8.3.2. SMEs Market Forecast and Analysis
8.4. LARGE ENTERPRISE
8.4.1. Overview
8.4.2. Large Enterprise Market Forecast and Analysis
9. WELFARE MANAGEMENT SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Welfare Management Software Market Overview
9.1.2 North America Welfare Management Software Market Forecasts and Analysis
9.1.3 North America Welfare Management Software Market Forecasts and Analysis - By Deployment Type
9.1.4 North America Welfare Management Software Market Forecasts and Analysis - By Enterprise Size
9.1.5 North America Welfare Management Software Market Forecasts and Analysis - By Countries
9.1.5.1 United States Welfare Management Software Market
9.1.5.1.1 United States Welfare Management Software Market by Deployment Type
9.1.5.1.2 United States Welfare Management Software Market by Enterprise Size
9.1.5.2 Canada Welfare Management Software Market
9.1.5.2.1 Canada Welfare Management Software Market by Deployment Type
9.1.5.2.2 Canada Welfare Management Software Market by Enterprise Size
9.1.5.3 Mexico Welfare Management Software Market
9.1.5.3.1 Mexico Welfare Management Software Market by Deployment Type
9.1.5.3.2 Mexico Welfare Management Software Market by Enterprise Size
9.2. EUROPE
9.2.1 Europe Welfare Management Software Market Overview
9.2.2 Europe Welfare Management Software Market Forecasts and Analysis
9.2.3 Europe Welfare Management Software Market Forecasts and Analysis - By Deployment Type
9.2.4 Europe Welfare Management Software Market Forecasts and Analysis - By Enterprise Size
9.2.5 Europe Welfare Management Software Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Welfare Management Software Market
9.2.5.1.1 Germany Welfare Management Software Market by Deployment Type
9.2.5.1.2 Germany Welfare Management Software Market by Enterprise Size
9.2.5.2 France Welfare Management Software Market
9.2.5.2.1 France Welfare Management Software Market by Deployment Type
9.2.5.2.2 France Welfare Management Software Market by Enterprise Size
9.2.5.3 Italy Welfare Management Software Market
9.2.5.3.1 Italy Welfare Management Software Market by Deployment Type
9.2.5.3.2 Italy Welfare Management Software Market by Enterprise Size
9.2.5.4 United Kingdom Welfare Management Software Market
9.2.5.4.1 United Kingdom Welfare Management Software Market by Deployment Type
9.2.5.4.2 United Kingdom Welfare Management Software Market by Enterprise Size
9.2.5.5 Russia Welfare Management Software Market
9.2.5.5.1 Russia Welfare Management Software Market by Deployment Type
9.2.5.5.2 Russia Welfare Management Software Market by Enterprise Size
9.2.5.6 Rest of Europe Welfare Management Software Market
9.2.5.6.1 Rest of Europe Welfare Management Software Market by Deployment Type
9.2.5.6.2 Rest of Europe Welfare Management Software Market by Enterprise Size
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Welfare Management Software Market Overview
9.3.2 Asia-Pacific Welfare Management Software Market Forecasts and Analysis
9.3.3 Asia-Pacific Welfare Management Software Market Forecasts and Analysis - By Deployment Type
9.3.4 Asia-Pacific Welfare Management Software Market Forecasts and Analysis - By Enterprise Size
9.3.5 Asia-Pacific Welfare Management Software Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Welfare Management Software Market
9.3.5.1.1 Australia Welfare Management Software Market by Deployment Type
9.3.5.1.2 Australia Welfare Management Software Market by Enterprise Size
9.3.5.2 China Welfare Management Software Market
9.3.5.2.1 China Welfare Management Software Market by Deployment Type
9.3.5.2.2 China Welfare Management Software Market by Enterprise Size
9.3.5.3 India Welfare Management Software Market
9.3.5.3.1 India Welfare Management Software Market by Deployment Type
9.3.5.3.2 India Welfare Management Software Market by Enterprise Size
9.3.5.4 Japan Welfare Management Software Market
9.3.5.4.1 Japan Welfare Management Software Market by Deployment Type
9.3.5.4.2 Japan Welfare Management Software Market by Enterprise Size
9.3.5.5 South Korea Welfare Management Software Market
9.3.5.5.1 South Korea Welfare Management Software Market by Deployment Type
9.3.5.5.2 South Korea Welfare Management Software Market by Enterprise Size
9.3.5.6 Rest of Asia-Pacific Welfare Management Software Market
9.3.5.6.1 Rest of Asia-Pacific Welfare Management Software Market by Deployment Type
9.3.5.6.2 Rest of Asia-Pacific Welfare Management Software Market by Enterprise Size
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Welfare Management Software Market Overview
9.4.2 Middle East and Africa Welfare Management Software Market Forecasts and Analysis
9.4.3 Middle East and Africa Welfare Management Software Market Forecasts and Analysis - By Deployment Type
9.4.4 Middle East and Africa Welfare Management Software Market Forecasts and Analysis - By Enterprise Size
9.4.5 Middle East and Africa Welfare Management Software Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Welfare Management Software Market
9.4.5.1.1 South Africa Welfare Management Software Market by Deployment Type
9.4.5.1.2 South Africa Welfare Management Software Market by Enterprise Size
9.4.5.2 Saudi Arabia Welfare Management Software Market
9.4.5.2.1 Saudi Arabia Welfare Management Software Market by Deployment Type
9.4.5.2.2 Saudi Arabia Welfare Management Software Market by Enterprise Size
9.4.5.3 U.A.E Welfare Management Software Market
9.4.5.3.1 U.A.E Welfare Management Software Market by Deployment Type
9.4.5.3.2 U.A.E Welfare Management Software Market by Enterprise Size
9.4.5.4 Rest of Middle East and Africa Welfare Management Software Market
9.4.5.4.1 Rest of Middle East and Africa Welfare Management Software Market by Deployment Type
9.4.5.4.2 Rest of Middle East and Africa Welfare Management Software Market by Enterprise Size
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Welfare Management Software Market Overview
9.5.2 South and Central America Welfare Management Software Market Forecasts and Analysis
9.5.3 South and Central America Welfare Management Software Market Forecasts and Analysis - By Deployment Type
9.5.4 South and Central America Welfare Management Software Market Forecasts and Analysis - By Enterprise Size
9.5.5 South and Central America Welfare Management Software Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Welfare Management Software Market
9.5.5.1.1 Brazil Welfare Management Software Market by Deployment Type
9.5.5.1.2 Brazil Welfare Management Software Market by Enterprise Size
9.5.5.2 Argentina Welfare Management Software Market
9.5.5.2.1 Argentina Welfare Management Software Market by Deployment Type
9.5.5.2.2 Argentina Welfare Management Software Market by Enterprise Size
9.5.5.3 Rest of South and Central America Welfare Management Software Market
9.5.5.3.1 Rest of South and Central America Welfare Management Software Market by Deployment Type
9.5.5.3.2 Rest of South and Central America Welfare Management Software Market by Enterprise Size
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. WELFARE MANAGEMENT SOFTWARE MARKET, KEY COMPANY PROFILES
11.1. ADP, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BENEFITFOCUS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CERIDIAN
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EMPOWERHR BY FUSION5
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GUSTO
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PAYCOR
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. PLANSOURCE
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. WEX INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. WORKDAY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZENEFITS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ADP, Inc.
2. Benefitfocus
3. Ceridian
4. EmpowerHR by Fusion5
5. Gusto
6. Paycor
7. PlanSource
8. WEX Inc.
9. Workday
10. Zenefits
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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