Benefits Administration Software Market Size 2024-2028
The benefits administration software market size is forecast to increase by USD 1.57 billion at a CAGR of 10.83% between 2023 and 2028.
- The market is experiencing significant growth, driven by the increasing shift towards cloud-based solutions and the rising demand for user-friendly, mobile-accessible platforms. This trend is particularly prominent in regions with a high adoption rate of digital technologies and advanced IT infrastructure. However, market expansion is not without challenges. Increasing data privacy and security concerns are a major concern for organizations, necessitating robust security features and compliance with stringent regulations. These challenges present opportunities for market participants to differentiate themselves through innovative solutions that address these concerns while delivering an intuitive user experience.
- Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on developing scalable, secure, and user-friendly platforms that cater to the evolving needs of their clients. By staying abreast of emerging trends and addressing the growing demand for advanced features, these companies can position themselves as thought leaders and key players in the market.
What will be the Size of the Benefits Administration Software Market during the forecast period?

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1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Deployment
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
3 Market Landscape
- 3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Market characteristics analysis
4 Market Sizing
- 4.1 Market definition
- Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ million)
- Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)
5 Historic Market Size
- 5.1 Global Benefits Administration Software Market 2018 - 2022
- Historic Market Size - Data Table on Global Benefits Administration Software Market 2018 - 2022 ($ million)
- 5.2 Deployment segment analysis 2018 - 2022
- Historic Market Size - Deployment Segment 2018 - 2022 ($ million)
- 5.3 End-user segment analysis 2018 - 2022
- Historic Market Size - End-user Segment 2018 - 2022 ($ million)
- 5.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ million)
- 5.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ million)
6 Additional Value/Volume Data
- 6.1 benefits administration software market by country 2023 - 2028 ($ million)
- Market Size (value) - Data Table on benefits administration software market by Country 2023 - 2028 ($ million)
7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
- 7.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028
8 Market Segmentation by Deployment
- 8.1 Market segments
- Chart on Deployment - Market share (2023-2028) (%)
- Data Table on Deployment - Market share (2023-2028) (%)
- 8.2 Comparison by Deployment
- Chart on Comparison by Deployment
- Data Table on Comparison by Deployment
- 8.3 Cloud based - Market size and forecast (2023-2028)
- Chart on Cloud based - Market size and forecast (2023-2028) ($ million)
- Data Table on Cloud based - Market size and forecast (2023-2028) ($ million)
- Chart on Cloud based - Year-over-year growth (2023-2028) (%)
- Data Table on Cloud based - Year-over-year growth (2023-2028) (%)
- 8.4 On-premises - Market size and forecast (2023-2028)
- Chart on On-premises - Market size and forecast (2023-2028) ($ million)
- Data Table on On-premises - Market size and forecast (2023-2028) ($ million)
- Chart on On-premises - Year-over-year growth (2023-2028) (%)
- Data Table on On-premises - Year-over-year growth (2023-2028) (%)
- 8.5 Market opportunity by Deployment
- Market opportunity by Deployment ($ million)
- Data Table on Market opportunity by Deployment ($ million)
9 Market Segmentation by End-user
- 9.1 Market segments
- Chart on End-user - Market share (2023-2028) (%)
- Data Table on End-user - Market share (2023-2028) (%)
- 9.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user
- 9.3 Large enterprises - Market size and forecast (2023-2028)
- Chart on Large enterprises - Market size and forecast (2023-2028) ($ million)
- Data Table on Large enterprises - Market size and forecast (2023-2028) ($ million)
- Chart on Large enterprises - Year-over-year growth (2023-2028) (%)
- Data Table on Large enterprises - Year-over-year growth (2023-2028) (%)
- 9.4 Small and medium enterprises - Market size and forecast (2023-2028)
- Chart on Small and medium enterprises - Market size and forecast (2023-2028) ($ million)
- Data Table on Small and medium enterprises - Market size and forecast (2023-2028) ($ million)
- Chart on Small and medium enterprises - Year-over-year growth (2023-2028) (%)
- Data Table on Small and medium enterprises - Year-over-year growth (2023-2028) (%)
- 9.5 Market opportunity by End-user
- Market opportunity by End-user ($ million)
- Data Table on Market opportunity by End-user ($ million)
10 Market Segmentation by Solution Type
- 10.1 Market segments
- Chart on Solution Type - Market share (2023-2028) (%)
- Data Table on Solution Type - Market share (2023-2028) (%)
- 10.2 Comparison by Solution Type
- Chart on Comparison by Solution Type
- Data Table on Comparison by Solution Type
- 10.3 Core Administration Solutions - Market size and forecast (2023-2028)
- Chart on Core Administration Solutions - Market size and forecast (2023-2028) ($ million)
- Data Table on Core Administration Solutions - Market size and forecast (2023-2028) ($ million)
- Chart on Core Administration Solutions - Year-over-year growth (2023-2028) (%)
- Data Table on Core Administration Solutions - Year-over-year growth (2023-2028) (%)
- 10.4 Voluntary Benefits Management - Market size and forecast (2023-2028)
- Chart on Voluntary Benefits Management - Market size and forecast (2023-2028) ($ million)
- Data Table on Voluntary Benefits Management - Market size and forecast (2023-2028) ($ million)
- Chart on Voluntary Benefits Management - Year-over-year growth (2023-2028) (%)
- Data Table on Voluntary Benefits Management - Year-over-year growth (2023-2028) (%)
- 10.5 Worksite Benefits Administration - Market size and forecast (2023-2028)
- Chart on Worksite Benefits Administration - Market size and forecast (2023-2028) ($ million)
- Data Table on Worksite Benefits Administration - Market size and forecast (2023-2028) ($ million)
- Chart on Worksite Benefits Administration - Year-over-year growth (2023-2028) (%)
- Data Table on Worksite Benefits Administration - Year-over-year growth (2023-2028) (%)
- 10.6 Others - Market size and forecast (2023-2028)
- Chart on Others - Market size and forecast (2023-2028) ($ million)
- Data Table on Others - Market size and forecast (2023-2028) ($ million)
- Chart on Others - Year-over-year growth (2023-2028) (%)
- Data Table on Others - Year-over-year growth (2023-2028) (%)
- 10.7 Market opportunity by Solution Type
- Market opportunity by Solution Type ($ million)
- Data Table on Market opportunity by Solution Type ($ million)
11 Customer Landscape
- 11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Geographic Landscape
- 12.1 Geographic segmentation
- Chart on Market share by geography 2023-2028 (%)
- Data Table on Market share by geography 2023-2028 (%)
- 12.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 12.3 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ million)
- Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
- 12.4 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 12.5 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 12.6 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 12.7 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ million)
- Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
- 12.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ million)
- Data Table on US - Market size and forecast 2023-2028 ($ million)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
- 12.9 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ million)
- Data Table on China - Market size and forecast 2023-2028 ($ million)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
- 12.10 UK - Market size and forecast 2023-2028
- Chart on UK - Market size and forecast 2023-2028 ($ million)
- Data Table on UK - Market size and forecast 2023-2028 ($ million)
- Chart on UK - Year-over-year growth 2023-2028 (%)
- Data Table on UK - Year-over-year growth 2023-2028 (%)
- 12.11 Canada - Market size and forecast 2023-2028
- Chart on Canada - Market size and forecast 2023-2028 ($ million)
- Data Table on Canada - Market size and forecast 2023-2028 ($ million)
- Chart on Canada - Year-over-year growth 2023-2028 (%)
- Data Table on Canada - Year-over-year growth 2023-2028 (%)
- 12.12 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 12.13 France - Market size and forecast 2023-2028
- Chart on France - Market size and forecast 2023-2028 ($ million)
- Data Table on France - Market size and forecast 2023-2028 ($ million)
- Chart on France - Year-over-year growth 2023-2028 (%)
- Data Table on France - Year-over-year growth 2023-2028 (%)
- 12.14 Market opportunity by geography
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)
- 12.15 India - Market size and forecast (2023-2028)
- Chart on India - Market size and forecast (2023-2028) ($ million)
- Data Table on India - Market size and forecast (2023-2028) ($ million)
- Chart on India - Year-over-year growth (2023-2028) (%)
- Data Table on India - Year-over-year growth (2023-2028) (%)
- 12.16 South Korea - Market size and forecast (2023-2028)
- Chart on South Korea - Market size and forecast (2023-2028) ($ million)
- Data Table on South Korea - Market size and forecast (2023-2028) ($ million)
- Chart on South Korea - Year-over-year growth (2023-2028) (%)
- Data Table on South Korea - Year-over-year growth (2023-2028) (%)
- 12.17 Japan - Market size and forecast (2023-2028)
- Chart on Japan - Market size and forecast (2023-2028) ($ million)
- Data Table on Japan - Market size and forecast (2023-2028) ($ million)
- Chart on Japan - Year-over-year growth (2023-2028) (%)
- Data Table on Japan - Year-over-year growth (2023-2028) (%)
- 12.18 Italy - Market size and forecast (2023-2028)
- Chart on Italy - Market size and forecast (2023-2028) ($ million)
- Data Table on Italy - Market size and forecast (2023-2028) ($ million)
- Chart on Italy - Year-over-year growth (2023-2028) (%)
- Data Table on Italy - Year-over-year growth (2023-2028) (%)
- 12.19 Brazil - Market size and forecast (2023-2028)
- Chart on Brazil - Market size and forecast (2023-2028) ($ million)
- Data Table on Brazil - Market size and forecast (2023-2028) ($ million)
- Chart on Brazil - Year-over-year growth (2023-2028) (%)
- Data Table on Brazil - Year-over-year growth (2023-2028) (%)
- 12.20 UAE - Market size and forecast (2023-2028)
- Chart on UAE - Market size and forecast (2023-2028) ($ million)
- Data Table on UAE - Market size and forecast (2023-2028) ($ million)
- Chart on UAE - Year-over-year growth (2023-2028) (%)
- Data Table on UAE - Year-over-year growth (2023-2028) (%)
- 12.21 Spain - Market size and forecast (2023-2028)
- Chart on Spain - Market size and forecast (2023-2028) ($ million)
- Data Table on Spain - Market size and forecast (2023-2028) ($ million)
- Chart on Spain - Year-over-year growth (2023-2028) (%)
- Data Table on Spain - Year-over-year growth (2023-2028) (%)
- 12.22 Mexico - Market size and forecast (2023-2028)
- Chart on Mexico - Market size and forecast (2023-2028) ($ million)
- Data Table on Mexico - Market size and forecast (2023-2028) ($ million)
- Chart on Mexico - Year-over-year growth (2023-2028) (%)
- Data Table on Mexico - Year-over-year growth (2023-2028) (%)
- 12.23 Rest of World (ROW) - Market size and forecast (2023-2028)
- Chart on Rest of World (ROW) - Market size and forecast (2023-2028) ($ million)
- Data Table on Rest of World (ROW) - Market size and forecast (2023-2028) ($ million)
- Chart on Rest of World (ROW) - Year-over-year growth (2023-2028) (%)
- Data Table on Rest of World (ROW) - Year-over-year growth (2023-2028) (%)
13 Drivers, Challenges, and Opportunity/Restraints
- 13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
- 13.4 Market opportunities/restraints
14 Competitive Landscape
- 14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 14.3 Landscape disruption
- Overview on factors of disruption
- 14.4 Industry risks
- Impact of key risks on business
15 Competitive Analysis
- 15.2 Market positioning of companies
- Matrix on companies position and classification
- 15.3 ADP, LLC (United States)
- ADP, LLC (United States) - Overview
- ADP, LLC (United States) - Product / Service
- ADP, LLC (United States) - Key offerings
- 15.4 Workday Inc. (United States)
- Workday Inc. (United States) - Overview
- Workday Inc. (United States) - Product / Service
- Workday Inc. (United States) - Key offerings
- 15.5 Paychex Inc. (United States)
- Paychex Inc. (United States) - Overview
- Paychex Inc. (United States) - Product / Service
- Paychex Inc. (United States) - Key offerings
- 15.6 BambooHR LLC (United States)
- BambooHR LLC (United States) - Overview
- BambooHR LLC (United States) - Product / Service
- BambooHR LLC (United States) - Key offerings
- 15.7 Gusto (United States)
- Gusto (United States) - Overview
- Gusto (United States) - Product / Service
- Gusto (United States) - Key offerings
- 15.8 Zenefits (United States)
- Zenefits (United States) - Overview
- Zenefits (United States) - Product / Service
- Zenefits (United States) - Key offerings
- 15.9 SAP SE (Germany)
- SAP SE (Germany) - Overview
- SAP SE (Germany) - Product / Service
- SAP SE (Germany) - Key offerings
- 15.10 Oracle Corporation (United States)
- Oracle Corporation (United States) - Overview
- Oracle Corporation (United States) - Product / Service
- Oracle Corporation (United States) - Key offerings
- 15.11 Ultimate Software (United States)
- Ultimate Software (United States) - Overview
- Ultimate Software (United States) - Product / Service
- Ultimate Software (United States) - Key offerings
- 15.12 Paycom Software Inc. (United States)
- Paycom Software Inc. (United States) - Overview
- Paycom Software Inc. (United States) - Product / Service
- Paycom Software Inc. (United States) - Key offerings
- 15.13 Ceridian HCM Holding Inc. (United States)
- Ceridian HCM Holding Inc. (United States) - Overview
- Ceridian HCM Holding Inc. (United States) - Product / Service
- Ceridian HCM Holding Inc. (United States) - Key offerings
- 15.14 Intuit Inc. (United States)
- Intuit Inc. (United States) - Overview
- Intuit Inc. (United States) - Product / Service
- Intuit Inc. (United States) - Key offerings
- 15.15 Sage Group plc (United Kingdom)
- Sage Group plc (United Kingdom) - Overview
- Sage Group plc (United Kingdom) - Product / Service
- Sage Group plc (United Kingdom) - Key offerings
- 15.16 Zoho Corporation Pvt. Ltd. (India)
- Zoho Corporation Pvt. Ltd. (India) - Overview
- Zoho Corporation Pvt. Ltd. (India) - Product / Service
- Zoho Corporation Pvt. Ltd. (India) - Key offerings
- 15.17 Namely Inc. (United States)
- Namely Inc. (United States) - Overview
- Namely Inc. (United States) - Product / Service
- Namely Inc. (United States) - Key offerings
- 15.18 PeopleSoft (United States)
- PeopleSoft (United States) - Overview
- PeopleSoft (United States) - Product / Service
- PeopleSoft (United States) - Key offerings
- 15.19 Kronos Incorporated (United States)
- Kronos Incorporated (United States) - Overview
- Kronos Incorporated (United States) - Product / Service
- Kronos Incorporated (United States) - Key offerings
- 15.20 Rippling (United States)
- Rippling (United States) - Overview
- Rippling (United States) - Product / Service
- Rippling (United States) - Key offerings
- 15.21 TriNet Group Inc. (United States)
- TriNet Group Inc. (United States) - Overview
- TriNet Group Inc. (United States) - Product / Service
- TriNet Group Inc. (United States) - Key offerings
- 15.22 HROne (China)
- HROne (China) - Overview
- HROne (China) - Product / Service
- HROne (China) - Key offerings
- 15.23 Accelalpha Inc.
- Accelalpha Inc. - Overview
- Accelalpha Inc. - Product / Service
- Accelalpha Inc. - Key offerings
- 15.24 Automatic Data Processing Inc.
- Automatic Data Processing Inc. - Overview
- Automatic Data Processing Inc. - Product / Service
- Automatic Data Processing Inc. - Key offerings
- 15.25 Bamboo HR LLC
- Bamboo HR LLC - Overview
- Bamboo HR LLC - Product / Service
- Bamboo HR LLC - Key offerings
- 15.26 Benefitfocus.com Inc.
- Benefitfocus.com Inc. - Overview
- Benefitfocus.com Inc. - Product / Service
- Benefitfocus.com Inc. - Key offerings
- 15.27 Benify AB
- Benify AB - Overview
- Benify AB - Product / Service
- Benify AB - Key offerings
- 15.28 Businessolver
- Businessolver - Overview
- Businessolver - Product / Service
- Businessolver - Key offerings
- 15.29 Dayforce Inc.
- Dayforce Inc. - Overview
- Dayforce Inc. - Product / Service
- Dayforce Inc. - Key offerings
- 15.30 Deel Inc
- Deel Inc - Overview
- Deel Inc - Product / Service
- Deel Inc - Key offerings
- 15.31 ELMO Software Ltd.
- ELMO Software Ltd. - Overview
- ELMO Software Ltd. - Product / Service
- ELMO Software Ltd. - Key offerings
- 15.32 EmPower HR
- EmPower HR - Overview
- EmPower HR - Product / Service
- EmPower HR - Key offerings
- 15.33 Gusto
- Gusto - Overview
- Gusto - Product / Service
- Gusto - Key offerings
- 15.34 Mercer LLC
- Mercer LLC - Overview
- Mercer LLC - Product / Service
- Mercer LLC - Key offerings
- 15.35 Namely Inc.
- Namely Inc. - Overview
- Namely Inc. - Product / Service
- Namely Inc. - Key offerings
- 15.36 Paycom Software Inc.
- Paycom Software Inc. - Overview
- Paycom Software Inc. - Product / Service
- Paycom Software Inc. - Key offerings
- 15.37 Paycor HCM Inc.
- Paycor HCM Inc. - Overview
- Paycor HCM Inc. - Product / Service
- Paycor HCM Inc. - Key offerings
- 15.38 PlanSource
- PlanSource - Overview
- PlanSource - Product / Service
- PlanSource - Key offerings
- 15.39 Rippling People Center Inc.
- Rippling People Center Inc. - Overview
- Rippling People Center Inc. - Product / Service
- Rippling People Center Inc. - Key offerings
- 15.40 TELUS Corp.
- TELUS Corp. - Overview
- TELUS Corp. - Product / Service
- TELUS Corp. - Key offerings
- 15.41 WEX Inc.
- WEX Inc. - Overview
- WEX Inc. - Product / Service
- WEX Inc. - Key offerings
- 15.42 Workday Inc.
- Workday Inc. - Overview
- Workday Inc. - Product / Service
- Workday Inc. - Key offerings
16 Appendix
- 16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 16.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 16.4 Research methodology
- 16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 16.9 360 degree market analysis
- 360 degree market analysis
- 16.10 List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases

DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts

REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape