What is Pension Fund Management Software Market?
With most pension funds focusing on diversified, long-term, low-risk investing options, public and private organizations need a sophisticated IT network to help you through all asset groups, connect with investors, keep track of your positions, and mitigate risk. Pension fund providers are under pressure to satisfy regulatory requirements while still providing services to challenging clients. Pension fund providers still have to deal with declining investment revenue and fee burden, to name a few issues. Pension fund providers need modern, functionally rich technological systems that are state-of-the-art that can produce meaningful outcomes in today's fast-changing financial environment. Pension Fund Management Software reduces operating risk by virtually eliminating manual procedures and ensuring accountability in the investment phase by better regulatory enforcement.
The market study is being classified and major geographies with country level break-up.
Oracle Corporation (United States), Visma (Norway), Aquila Software (United States), SAP SE (Germany), Unit4 (Netherlands), Version Systems Pvt. Ltd. (India), Milliman Marc (United States), Morneau Shepell Inc. (Canada) and Exaxe Limited (Ireland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sagitec Solutions (India), Vitech Systems (India), Equiniti (United Kingdom) and Lynchval Systems Worldwide Inc. (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Pension Fund Management Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Pension Fund Management Software market by Type, Application and Region.
On the basis of geography, the market of Pension Fund Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Geriatric Population
- Integration with Machine Learning programs across the AI-based platforms
- Efficiency in Fund Management and Improved Regulatory Compliance
Market Trend
- Adoption of upcoming Technologies such as Block Chain & Artificial Intelligence (AI)
- Digitization in Payment Systems Across the Globe
Restraints
- Concerns Regarding Data Leakage and Cyber Theft
- Lack of Skilled Professionals
- Technical Errors and Glitches
Opportunities
- Growing Implementation Across SMEs
Challenges
- Shift from Traditional Approach to Software based Payment Platform
- Fierce Competitive Pressures
Market Leaders and some development strategies
On 1st November, 2018 - Equiniti Group Announced its Acquisition of AquilaHeywood (UK-based Life and Pensions Technology Provider to Major Insurance Institutions), The agreement is intended to optimize customer services and strengthen Equiniti’s status as a technology and solutions provider through its EQPaymaster Offering. and On 10th June, 2020 - Milliman Completed Its Acquisition Of healthiO (Healthcare Technology Startup) with its Announcement of Milliman healthiO. The Acquisition Combines Milliman’s Analytical expertise with Innovative Health Technology Aimed to Better Serve Changing Consumer Demand.
On 29th December, 2018 – Indian Prime Minister Inaugurated Pension Management Software for Telecom Dept Pensioners under “SAMPANN”, which stands for System for Accounting and Management of Pension, this Platform is Clamed to Timely Disburse Pensions to its Beneficiaries, Thereby Reducing Fund Leakages in the System.
Key Target Audience
Pension Fund Management Software Providers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others