Industry Background:
Financial Wellness Benefits refer to the state of being in which individuals can meet current and future financial obligations, feel secure in the financial future and make choices that let them enjoy life. It helps to reduce preoccupation with money needs and improve your mental and physical well-being. These type of services offers financial security and freedom of choice to maintain financial resources now and in the future including through financial emergencies.This growth is primarily driven by Increasing Financial stress
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Business Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Questis, Inc. (United States), BrightDime (United States), Grokker Inc. (United States), Enrich (United States), Ramsey SmartDollar (United States), Yodlee, Inc. (United States), Acquaint Financial (Canada), Origin Financial (South Africa), LearnLux (United States), FinFit (United States), LifeCents. (United States) and Zimyo Consulting Private Limited (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 26-July- 2021 Zimyo, the unified human capital management platform, which offers robust HR and payroll solutions, has now forayed into the embedded finance space. It has launched its new module, ‘Benefits’, to help organisations lend support to their workforce in their financial wellness. The Company has partnered with various insurance companies, non-banking financial companies and AMCs to unveil an extensive ‘employee benefits’ module offering advance salary, payday loans/personal loans, health and term life insurance, tax-saving investment plans, mutual funds, expense cards/credit cards, retirement plans and much more.The global financial wellness benefits market is fragmented due to the presence of several players at the global and regional levels. Companies provide plans such as financial planning, retirement planning, debt management, etc. for the employees of the companies which help to reduce financial stress. The players are also investing in the launch of new platforms and solutions in the market to enhance their presence.
Influencing Trend:
Rise In Adoption of Financial Wellness Benefits in Companies
Market Growth Drivers:
Increasing Financial stress and Growing Demand for Employee Productivity and Professional Satisfaction
Challenges:
Stiff Competition in Financial Wellness Benefits Market
Restraints:
Lack of Awareness about Financial Wellness Benefits among The Small Business May Restraints The Market Growth
Opportunities:
Increasing Number of Business in The Developing Countries Creating Huge Opportunities for Financial Wellness Benefits Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Financial Wellness Benefits Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Financial Wellness Benefits Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Financial Wellness Benefits players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Financial Wellness Benefits Study Sheds Light on
The Financial Wellness Benefits Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Financial Wellness Benefits industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Financial Wellness Benefits industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.