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 global Benefits Administration Software market size is projected to reach US$ 1416.5 million by 2027, from US$ 821.6 million in 2020, at a CAGR of 8.1% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Benefits Administration Software market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Benefits Administration Software market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Benefits Administration Software market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Benefits Administration Software market.

Global Benefits Administration Software Scope and Market Size
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 Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
On-Premise
Cloud-Based
By type, cloud-based revenue accounts for the highest share, reaching 59.42% in 2019.

Segment by Application
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.

By Region
North America
U.S.
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
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
ADP
Workday
WEX Health
Benefitfocus
bswift
Namely
Zenefits
Paycom
EmpowerHR/Pay
Ceridian
PlanSource
Paycor
Gusto
BambooHR
BreatheHR
Zane Benefits