Market Snapshot:
Employee wellness software is the new buzzword in the Human Resources arena. With huge budgets required to implement new technologies and services, business organizations are looking for cost-effective solutions for all their HR requirements. The health and safety of the employees are as important as providing quality resources for the organization. One of the ways to get in touch with the right customer is to conduct a health and safety survey and then develop the solution accordingly, or launch an initiative with a third-party survey firm that would help in the development of the solution.
Highlights from Employee Wellness Software Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.8% |
The key Manufacturers profiled in the report are Compsych (United States), Wellness Corporate Solutions (United States), Optum, Inc. (United States), Virgin Pulse (United States), Quest Diagnostics (United States), EXOS (United States), Privia Health (United States), Central Corporate Wellness (Singapore), Sodexo (France), Vitality Group (Spain), Truworth Wellness (India) and Fitlinxx (United States). Additionally, other players that are part of this comprehensive study are Wellness Layers, Corporate Health Partners, MediKeeper and Infinite Wellness Solutions.
Geographic Breakdown and Segment Analysis
The Global Employee Wellness Software market presents a comprehensive analysis of the Employee Wellness Software market by end-user/application (Large companies and small and medium size companies), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Employee Wellness Software industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Employee Wellness Software market
Analyst at AMA have segmented the market study of Global Employee Wellness Software market by Type, Application and Region.
Influencing Trend:
Emphasizing On Integration of Wearable Technology, Gamification Programs, and Mobile Applications in Employee Wellness Software and Emergence of Onsite Employee Wellness Programs
Market Growth Drivers:
Increasing Number of Employees in the Private Sector, Rising Awareness Regarding Employee Health & Well-Being and Increasing Demand for Employee Wellness Software from Medium-Scale Organizations
Challenges:
Low Participation Rate of Employees in Corporate Wellness Program in Emerging Countries
Restraints:
Low Adoption of Wellness Solution Program in Small Corporate Organizations and Integration of corporate wellness programs with various systems
Opportunities:
Rising Demand for Employee Wellness Software from Emerging Economies, Growing Focus on Employee Retention and Increasing Adoption of Wellness Programs in Organizations As It Reduces the Health Risks of Employees
Market Developments Activities:
In November 2018, Virgin Pulse, an employee well-being solution provider acquires Simply Well Inc. (Viverae), a workplace wellness company in the United States. This acquisition will provide clients if Simply Well to expand their wellbeing programs with Virgin Pulse’s full-featured digital behavior change platform.
In January 2024,Health Enhancement Systems (HES), industry-leading wellness challenges company, introduces Colorful Choices. Groundbreaking in its simplicity and effectiveness, this healthy eating program improves vitality and well-being by shifting eating patterns toward colorful, nutrient-dense vegetables and fruits.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Target Audience
Employee Wellness Software Providers, Large Size Organizations, Medium Size Organizations, and Small Size Organizations, Market Research and Consulting Firms, Academic Institutions, Venture Capitalists and Investors and Others