(MENAFN- America News Hour) Global Welfare Management Software Market was valued at USD 730 Million in the year 2019. Global Welfare Management Software Market is further expected to grow at a CAGR of 8% from 2019 to reach USD 1166 Million by the year 2025.Welfare management is the process of establishing, maintaining, and managing welfare 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.
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Welfare Management 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 59% in 2018.
Welfare Management 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 47% of the global total in 2018.
Major market players in Welfare Management Software Market are ADP, Workday, WEX Health, Benefitfocus, Bswift, Namely, Zenefits, Paycom, EmpowerHR/Pay, Ceridian, PlanSource, Paycor, Gusto, BambooHR, BreatheHR, Zane Benefits, and brief information of 4 more companies provided in the report.
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
On-Premise
Cloud-Based
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Small Business
Medium-sized Business
Large Business
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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