Global Benefits Administration Software Market Report, History and Forecast 2015-2026, Breakdown Data by Companies, Key Regions, Types and Application

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.
The major manufacturers in this industry include ADP, Benefitfocus and Ceridian, whose revenue accounts for 19.91%, 16.9% and 9.34% respectively in 2018. By region, the U.S. has the highest share of regional income, at about 57% in 2019.

Market Analysis and Insights: Global Benefits Administration Software Market
The research report studies the Benefits Administration Software market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
The global Benefits Administration Software market size is projected to reach US$ 1310.4 million by 2026, from US$ 821.6 million in 2020, at a CAGR of 8.1% during 2021-2026.

Global Benefits Administration Software Scope and Segment
The global Benefits Administration Software market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Benefits Administration Software market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2015-2026.

Segment by Type, the Benefits Administration Software market is segmented into
On-Premise
Cloud-Based
By type, cloud-based revenue accounts for the highest share, reaching 59.42% in 2019.

Segment by Application, the Benefits Administration Software market is segmented into
Small Business
Medium-sized Business
Large Business
According to the application, large business have the highest share of revenue, accounting for more than 48 percent in 2018.

Global Benefits Administration Software market: regional analysis, the major regions covered in the report are:
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa

The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition. This will give the reader an edge over others as a well-informed decision can be made looking at the holistic picture of the market.

The major vendors covered:
ADP
Workday
WEX Health
Benefitfocus
bswift
Namely
Zenefits
Paycom
EmpowerHR/Pay
Ceridian
PlanSource
Paycor
Gusto
BambooHR
BreatheHR