Farmington, May 12, 2023 (GLOBE NEWSWIRE) -- The Global Corporate Wellness Software Market Was Valued At USD 409.50 Million In 2022 And Is Expected To Expand USD 714.31 Million By 2030 at a CAGR Of 7.47% From 2023 To 2030.One of the primary concerns of the organization at this point is the health and happiness of its workforce as a whole. The growth of the wellness business has led to an increase in the amount of insight, data, and technology available, all of which encourage employees to maintain a healthy lifestyle and help define the future of wellness programs offered by companies. As a result, the growing acceptance of employee wellness programs across enterprises is one of the primary reasons expected to drive the growth of the market during the projected period. In addition to this, the growing incidence of chronic diseases all over the world is contributing to the expansion of the enterprise health software industry overall. In addition, in order to cut costs, businesses are concentrating their efforts on developing wellness programs that target and treat chronic diseases.
Request sample copy of report Corporate Wellness Software Market Size, Share & Trends Estimation Reports By Type Outlook (On-premise, Cloud-based), By Application Outlook (SMEs, Large Enterprises), By Service Outlook (Fitness, Health Risk Assessment, Nutrition & Weight Management, Stress Management, Health Screening, Smoking Cessation), By Region and Forecasts, 2023 - 2030. published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
The market is segmented by Type into Cloud-based and On-premises segments. Over the forecast period, the Cloud-based segment of the global market for corporate wellness software is anticipated to be the largest and fastest-growing. The widespread use of cloud-based corporate wellness software is attributable to its ability to regulate employee participation through personalized wellness programs. Among its main features are a member directory, payroll processing, leave monitoring, content scheduling, messaging, and scheduled reporting.
Service Outlook:
On the basis of Service, the Corporate Wellness Market is divided into Fitness, Health Risk Assessment, Nutrition & Weight Management, Stress Management, Health Screening, Smoking Cessation, and Others. The Health Risk Assessment dominates the corporate wellness market. Screenings to identify health hazards and the implementation of strategies to promote a healthy lifestyle among employees are the primary components of corporate wellness programs. Nearly 80% of employers who offer employee wellness services choose health risk assessment solutions for their employees. Due to rising employee work tension, it is anticipated that the tension Management segment will experience the maximum growth rate over the forecast period. Programs for stress management help employees balance their professional and personal lives.
Application Outlook:
The market is segmented by Application into small and large businesses. Large Enterprises is anticipated to be the largest and fastest-growing segment of the global corporate wellness software market during the forecast period. Large organizations use business wellness software to maintain satisfaction among staff members, decrease employee turnover, and recruit new talent. The initiatives provided by these software solutions encourage employees to adopt and maintain a healthy lifestyle.
Regional Analysis:
According to the report, The North American market for corporate wellness software claims the largest share of the global market. The market for employee wellness software is driven by rising employee fitness awareness. The rising prevalence of chronic illness, mental health issues, and substance abuse, particularly in conjunction with the region's opioid crisis, may also be contributing to the rising demand for corporate wellness software for employees.
In Asia-Pacific, the enterprise health software industry is driven by factors such as increasing health awareness, increasing smartphone usage, and increasing fitness app penetration. During the COVID-19 pandemic, the region also observed a significant increase in fitness app downloads.
By 2020, the WHO predicts that the number of individuals using fitness and wellness applications will increase by 78%. Moreover, as the workforce expands in emerging economies, so does the demand for corporate wellness software in these regions.
It is essential to take into account the specific local factors when analysing the Corporate Wellness Software Marketin each region, as market conditions and trends can vary significantly from region to region and even from country to country.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/3135
Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.47% from 2023 to 2030. |
| Revenue Forecast by 2030 | $ 714.31 Million |
| By Type |
|
| By Application |
|
| By Service |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
There are a number of challenges that could slow the expansion of the global Corporate Wellness Software Market. Among the most important constraints are:
The expansion of the corporate wellness market is anticipated to be hindered by the high cost for market participants to implement occupational health policies and the high return on investment for wellness services. The advent of a wholly novel era of personalized education and solutions for the individual well-being of each employee, enabled by AI, will transform the global corporate wellness industry.
Budgetary restraints imposed by their organizations Numerous health and wellness programs incur substantial expenses due to the occupational health policies. Companies may establish gyms that require regular equipment maintenance and high costs to employ professionals and trainers, thereby increasing their operational costs. Costs associated with such initiatives must be borne by the organization, which can restrict corporate wellness initiatives, especially in small and medium-sized businesses. Many organizations lack the financial resources necessary to implement such initiatives.
Opportunity Analysis:
A number of promising new avenues for development and expansion exist in the international Corporate Wellness Software Market. Consider a few of the most promising prospects:
Increasing adoption of smartphones, the increasing prevalence of devices in developed nations presents an expansion opportunity for employee wellness software. Improving employee wellness encourages employees to live a healthy lifestyle, which enables businesses to increase productivity and reduce costs. By 2020, the cumulative cost of decreased production due to illness-related absenteeism is expected to reach $300 billion. Insurance premiums have increased as a result of the increasing number of obese and overweight people.
Increasing workplace wellness awareness and implementing initiatives Recently, corporate wellness has improved. Today's business executives recognize that employee well-being extends far beyond physical health. As a result, health programs have shifted from an HR advantage to an essential component of a company's business strategy. Wellness habitats, paramedical services, meditation classes, wellness experiences, a workshop on stress management and resiliency, and psychological intelligence leadership training are being established by organizations. The introduction of such initiatives is meant to facilitate and encourage a comprehensive approach to represent prosperity by developing a hierarchical model of well-being that is advantageous to the growth of the corporate wellness industry. Moreover, service providers provide both in-house and outsourced healthcare services, which presents an expansion opportunity for the corporate wellness industry.
Key Segments Covered:
Top Market Players:
- Medi Keeper
- Wellness Layers
- Alyfe Wellbeing Strategies
- BSDI
- Ceridian Lifeworks
- Corporate Health Partners
- Infinite Wellness Solutions
- Sprout
- Burner Fitness
- Virgin Pulse
- Rival Health
- Protocol Driven Healthcare Inc (PDHI)
- Privia Health Group Inc
- Wellsource Inc.
- Truworth Wellness
By Type
- On-premise
- Cloud-based
By Service
- Fitness
- Health Risk Assessment
- Nutrition & Weight Management
- Stress Management
- Health Screening
- Smoking Cessation
By Application
- SMEs
- Large Enterprises
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Care Management Market- The Global Care Management Market Was Valued at US$ 11.5 Billion in 2022, and is Projected to Reach US$ 33.3 Billion by 2030, growing at a CAGR of 14.41% from 2023 to 2030.
- Lactic Acid Market- The Global Lactic Acid Market Size Was Valued USD 1.28 billion in 2022 and is Projected to grow USD 2.43 billion in 2030 at a CAGR of 9.6% during the 2021-2030 period.
- Chemical Injection Skids Market- The Global Chemical Injection Skids Market size was valued at USD 1.87 Billion in 2022 and is projected to reach USD 2.46 Billion by 2030, growing at a CAGR of 3.40% from 2023 to 2030.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
