5 Key Takeaways From The Benefits Navigation Platform Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Benefits Navigation Platform Global Market Report 2023, the benefits navigation platform market is expected to show significant growth in the forecast period.
Key insights from the benefits navigation platform market forecast include:
- Market Size
The global benefits navigation platform market is expected to grow from $9.83 billion in 2022 to $10.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The benefits navigation platform market is expected to reach $14.9 billion in 2027 at a CAGR of 8.3%.
- Major Driver
The rising growth of cloud-based solutions is expected to propel the growth of the benefits navigation platform market going forward. For instance, in June 2023, according to the Australian Bureau of Statistics, an Australia-based government agency for statistics, 85% of firms in Australia are using information and communication technologies (ICTs) in 2022, which is an increase from 69% of enterprises in 2020 Out of which, 59% were using cloud-based solutions. Therefore, the rising growth of cloud-based solutions is driving the growth of the navigation platform market.
View More On The Benefits Navigation Platform Market Report 2023 – https://www.thebusinessresearchcompany.com/report/benefits-navigation-platform-global-market-report
- Key Trend
Technological advancements are a key trend gaining popularity in the benefits navigation platform market. Major companies operating in the benefits navigation platform market are adopting new technologies to sustain their position in the market. For instance, in June 2023, Benefitfocus, a US-based cloud-based benefits administration technology company, launched a new cares navigation service using industry-leading data science to identify physicians with better health outcomes. It is integrated into its benefits administration platform, uses a self-service doctor search engine, and has access to one of the most comprehensive and up-to-date databases on physician performance. The platform uses more than 500 indicators to objectively examine the medical records of over 310 million patients to determine which providers are more likely to have positive patient outcomes.
- Major Players
Major players in the benefits navigation platform market are Optum Inc., Aon, Gallagher, Alight Solutions LLC, LifeWorks Inc., Sharecare Inc., Quantum Health, Accolade Inc., HealthEquity, Discovery Benefits, Empyrean Benefit Solutions, HealthJoy LLC, Benefitfocus Inc., Limeade Inc., ConnectYourCare, PayFlex, Castlight Health Inc., Benefit Resource Inc., Evive Health LLC, Maestro Health, Fidelity Investments, ThrivePass, Rightway Healthcare Inc., HealthWell Solutions LLC, Navigation Benefits LLC, and Health Advocate Inc.
- Top Market Segments
The global benefits navigation platform market is segmented –
1) By Type: For Employers, For Employees
2) By Solution: Software, Services
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Industry Vertical: Retail, Healthcare, Financial Services, Manufacturing, IT And Telecom, Public Sector, Other Industry Verticals
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The Benefits Navigation Platform Global Market Report 2023 provides an in-depth analysis on the benefits navigation platform market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the benefits navigation platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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