The Global Pension Administration Software Market is Predict to reach $8.6 Billion by 2028, at a CAGR of 12%

Published Date: 28-Feb-2023

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Pension Administration Software Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Pension Administration Software Market size is expected to reach $8.6 billion by 2028, rising at a market growth of 12.0% CAGR during the forecast period.

The Services segment is showcasing a CAGR of 13% during (2022 - 2028). The variety of services offered by pension administration includes maintaining membership records, paying pensions, engaging members, providing online member portal access, and more. This implies that they may also create an administrative package according to the particular demands of consumers. The segment's market is developing as more businesses choose to use outside providers for their services.

The Cloud segment acquired maximum revenue share in the Global Pension Administration Software Market by Deployment in 2021 thereby, achieving a market value of $5.6 billion by 2028. Because of the many advantages that cloud-based solutions may provide, like scalability, agility, and simple data access, many organisations all over the world are choosing them. Companies are creating novel wealth management solutions more quickly because to the cloud platform's affordability and scalability.

The Private Pension segment has shown the growth rate of 13.2% during (2022 - 2028). A private pension is a defined benefit plan that offers a retirement benefit based on an employee's pay and service history. Any private pension's main goal is to provide a predetermined sum in the case of termination or retirement, which may then be utilised at the member's discretion to purchase an annuity or make investments in other financial products.

The Government Agencies segment is generating highest revenue share in the Global Pension Administration Software Market by End User in 2021 thereby, achieving a market value of $3.1 billion by 2028. The governments of various countries are establishing regulations for pension plans. Additionally, the majority of countries are moving their governments towards digital labour and providing pensions and retirement benefits online, which expands the demand for pension administration software.

The North America market dominated the Global Pension Administration Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.1 billion by 2028. The Europe market is exhibiting a CAGR of 11.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 12.8% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Equiniti Group plc (Siris Capital Group LLC), Civica (Camelia Investment Limited), Capita plc., Aon plc, Zellis Holdings Limited, Congruent Solutions, Inc., Levi, Ray & Shoup, Inc., PensionSoft Corporation, LLC, Sagitec Solutions, LLC, and TatvaSoft Software Development Company.

Global Pension Administration Software Market Segmentation

By Component

  • Solution
  • Services

By Deployment

  • Cloud
  • On-premise

By Type

  • Public Pension
  • Private Pension

By End User

  • Government Agencies
  • Pension Plan Administrators
  • Employers
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • Equiniti Group plc (Siris Capital Group LLC)
  • Civica (Camelia Investment Limited)
  • Capita plc.
  • Aon plc
  • Zellis Holdings Limited
  • Congruent Solutions, Inc.
  • Levi, Ray & Shoup, Inc.
  • PensionSoft Corporation, LLC
  • Sagitec Solutions, LLC
  • TatvaSoft Software Development Company

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Related Reports:

North America Pension Administration Software Market Future Scope & Opportunities 2022-2028

Europe Pension Administration Software Market Size & Growth Forecast 2022-2028

Asia Pacific Pension Administration Software Market Size, Share & Industry Outlook to 2028

LAMEA Pension Administration Software Market Growth, Trends & Forecasts 2022-2028

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