Los Angeles, CA -- (SBWIRE) -- 04/29/2019 -- 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.
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.

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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% between 2019 and 2025.

This report studies the Benefits Administration Software market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

This report focuses on the global top players, covered
ADP
Workday
WEX Health
Benefitfocus
bswift
Namely
Zenefits
Paycom
EmpowerHR/Pay
Ceridian
PlanSource
Paycor
Gusto
BambooHR
BreatheHR
Zane Benefits

Market segment by Regions/Countries, this report covers
North America
Europe
China
Rest of Asia Pacific
Central & South America
Middle East & Africa

Market segment by Type, the product can be split into
On-Premise
Cloud-Based

Market segment by Application, the market can be split into
Small Business
Medium-sized Business
Large Business

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The study objectives of this report are:
To study and analyze the global Benefits Administration Software market size (value & volume) by company, key regions/countries, products and application, history data from 2014 to 2018, and forecast to 2025.
To understand the structure of Benefits Administration Software market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Benefits Administration Software manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Benefits Administration Software with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Benefits Administration Software submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

In this study, the years considered to estimate the market size of Benefits Administration Software are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025

This report includes the estimation of market size for value (million USD) and volume (K sqm). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Benefits Administration Software market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

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For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Key Stakeholders
Raw material suppliers
Distributors/traders/wholesalers/suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
End-use industries

Available Customizations
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of Benefits Administration Software market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.

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