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Pension Administration Software Market By Component, By Deployment Mode, By Type, By End User, By Pension Fund Size: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 330 Pages
  • April 2024
  • Region: Global
  • Allied Market Research
  • ID: 5751154
Description Jump to:
In 2022, the global pension administration software market reached $4.5 billion. Forecasts indicate that it will reach $13 billion by 2032, with a CAGR of 11.4% from 2023 to 2032. Pension serves as retirement income individuals plan for throughout their lives to secure a source of income. It involves investments that grow through regular contributions. Pension administration software aids in establishing, maintaining, and investing pension funds according to plan terms. It also ensures accurate plan records, appropriate contributions, and benefit payments to plan beneficiaries.

Pension administration software facilitates the reduction of process turnaround time by automating tasks that were previously time-consuming when done manually. Tasks such as posting late fees, generating and delivering default letters, and calculating penalties and fees are now efficiently managed through software. This software also streamlines day-to-day operations, enabling teams to focus on critical tasks while eliminating lower-value, time-consuming duties. Additionally, pension administration software optimizes processes, leading to cost savings and improved efficiency across various functions, thereby enhancing the organization's bottom line. Furthermore, the management and investment of pension funds in employees' retirement savings accounts (RSA) are simplified with the adoption of this technology.

While pension administration software contributes to market growth, its reliance on technology poses challenges, particularly for older individuals. Technology, while beneficial for streamlining processes and managing data, may present difficulties for elderly populations who are less familiar with digital operations. Elderly individuals often prefer traditional pen-and-paper methods for pension-related matters due to their ease of use.

Addressing the technological gap among the elderly population is essential for maximizing the benefits of pension administration software. Despite these challenges, the pension administration software market is poised for growth due to increasing adoption by small firms and ongoing technological advancements in administration and management industries. Factors such as reduced processing time, automated pension fund allocation, decreased paperwork, and innovative technology are expected to drive market expansion further.

The pension administration software market is segmented on the basis of component, deployment mode, type, end users, pension fund size, and region. By component, it is segmented into solution and service. By deployment mode, it is bifurcated into on-premise and cloud. By type, it is segmented into public pension and private pension. By end users, it is segmented into employers, pension plan administrators, government agencies, and others. By pension fund size it is segmented into less than $500 million, $500 million to $1 billion, $1 billion to $5 billion, $5 billion to $10 billion, and $10 billion and above. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the pension administration software market such as Capita plc., Civica, Congruent Solutions, Inc., Equiniti, Levi, Ray & Shoup Inc., PensionSoft Corporation, LLC, Sagitec Solutions, TatvaSoft Software Development Company, WTW, and Zellis. These players have adopted various strategies to increase their market penetration and strengthen their position in the pension administration software industry.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pension administration software market analysis from 2022 to 2032 to identify the prevailing pension administration software market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the pension administration software market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global pension administration software market trends, key players, market segments, application areas, and market growth strategies.

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Key Market Segments

By Component

  • Solution
  • Services

By Deployment Mode

  • On-Premise
  • Cloud

By Type

  • Public Pension
  • Private Pension

By End User

  • Pension Plan Administrators
  • Government Agencies
  • Others
  • Employers

By Pension Fund Size

  • Less Than $500 Million
  • $500 Million To $1 Billion
  • $1 Billion To $5 Billion
  • $5 Billion To $10 Billion
  • $10 Billion and Above

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
Key Market Players
  • WTW
  • Capita plc.
  • Zellis
  • Civica
  • Sagitec Solutions
  • Levi, Ray & Shoup Inc.
  • Congruent Solutions, Inc.
  • PensionSoft Corporation, LLC
  • Equiniti
  • TatvaSoft Software Development Company

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Low bargaining power of suppliers
3.3.2. Low threat of new entrants
3.3.3. Low threat of substitutes
3.3.4. Low intensity of rivalry
3.3.5. Low bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Modern customer experience
3.4.1.2. Pension administration software helps to reduce processing time
3.4.1.3. Efficiency and cost effectiveness
3.4.1.4. Increase in demand for pension administration solutions
3.4.2. Restraints
3.4.2.1. Technology limitation on the aged/old age people
3.4.2.2. High implementation costs
3.4.3. Opportunities
3.4.3.1. Technological advancements in the field of administration
3.4.3.2. Integration of mobile technology in pension administration software
CHAPTER 4: PENSION ADMINISTRATION SOFTWARE MARKET, BY COMPONENT
4.1. Overview
4.1.1. Market size and forecast
4.2. Solution
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Services
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: PENSION ADMINISTRATION SOFTWARE MARKET, BY DEPLOYMENT MODE
5.1. Overview
5.1.1. Market size and forecast
5.2. On-Premise
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Cloud
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: PENSION ADMINISTRATION SOFTWARE MARKET, BY TYPE
6.1. Overview
6.1.1. Market size and forecast
6.2. Public Pension
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Private Pension
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
CHAPTER 7: PENSION ADMINISTRATION SOFTWARE MARKET, BY END USER
7.1. Overview
7.1.1. Market size and forecast
7.2. Employers
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis by country
7.3. Pension Plan Administrators
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis by country
7.4. Government Agencies
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market share analysis by country
7.5. Others
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market share analysis by country
CHAPTER 8: PENSION ADMINISTRATION SOFTWARE MARKET, BY PENSION FUND SIZE
8.1. Overview
8.1.1. Market size and forecast
8.2. Less Than $500 Million
8.2.1. Key market trends, growth factors and opportunities
8.2.2. Market size and forecast, by region
8.2.3. Market share analysis by country
8.3. $500 Million To $1 Billion
8.3.1. Key market trends, growth factors and opportunities
8.3.2. Market size and forecast, by region
8.3.3. Market share analysis by country
8.4. $1 Billion To $5 Billion
8.4.1. Key market trends, growth factors and opportunities
8.4.2. Market size and forecast, by region
8.4.3. Market share analysis by country
8.5. $5 Billion To $10 Billion
8.5.1. Key market trends, growth factors and opportunities
8.5.2. Market size and forecast, by region
8.5.3. Market share analysis by country
8.6. $10 Billion and Above
8.6.1. Key market trends, growth factors and opportunities
8.6.2. Market size and forecast, by region
8.6.3. Market share analysis by country
CHAPTER 9: PENSION ADMINISTRATION SOFTWARE MARKET, BY REGION
9.1. Overview
9.1.1. Market size and forecast By Region
9.2. North America
9.2.1. Key market trends, growth factors and opportunities
9.2.2. Market size and forecast, by Component
9.2.3. Market size and forecast, by Deployment Mode
9.2.4. Market size and forecast, by Type
9.2.5. Market size and forecast, by End User
9.2.6. Market size and forecast, by Pension Fund Size
9.2.7. Market size and forecast, by country
9.2.7.1. U.S.
9.2.7.1.1. Market size and forecast, by Component
9.2.7.1.2. Market size and forecast, by Deployment Mode
9.2.7.1.3. Market size and forecast, by Type
9.2.7.1.4. Market size and forecast, by End User
9.2.7.1.5. Market size and forecast, by Pension Fund Size
9.2.7.2. Canada
9.2.7.2.1. Market size and forecast, by Component
9.2.7.2.2. Market size and forecast, by Deployment Mode
9.2.7.2.3. Market size and forecast, by Type
9.2.7.2.4. Market size and forecast, by End User
9.2.7.2.5. Market size and forecast, by Pension Fund Size
9.2.7.3. Mexico
9.2.7.3.1. Market size and forecast, by Component
9.2.7.3.2. Market size and forecast, by Deployment Mode
9.2.7.3.3. Market size and forecast, by Type
9.2.7.3.4. Market size and forecast, by End User
9.2.7.3.5. Market size and forecast, by Pension Fund Size
9.3. Europe
9.3.1. Key market trends, growth factors and opportunities
9.3.2. Market size and forecast, by Component
9.3.3. Market size and forecast, by Deployment Mode
9.3.4. Market size and forecast, by Type
9.3.5. Market size and forecast, by End User
9.3.6. Market size and forecast, by Pension Fund Size
9.3.7. Market size and forecast, by country
9.3.7.1. UK
9.3.7.1.1. Market size and forecast, by Component
9.3.7.1.2. Market size and forecast, by Deployment Mode
9.3.7.1.3. Market size and forecast, by Type
9.3.7.1.4. Market size and forecast, by End User
9.3.7.1.5. Market size and forecast, by Pension Fund Size
9.3.7.2. Germany
9.3.7.2.1. Market size and forecast, by Component
9.3.7.2.2. Market size and forecast, by Deployment Mode
9.3.7.2.3. Market size and forecast, by Type
9.3.7.2.4. Market size and forecast, by End User
9.3.7.2.5. Market size and forecast, by Pension Fund Size
9.3.7.3. France
9.3.7.3.1. Market size and forecast, by Component
9.3.7.3.2. Market size and forecast, by Deployment Mode
9.3.7.3.3. Market size and forecast, by Type
9.3.7.3.4. Market size and forecast, by End User
9.3.7.3.5. Market size and forecast, by Pension Fund Size
9.3.7.4. Italy
9.3.7.4.1. Market size and forecast, by Component
9.3.7.4.2. Market size and forecast, by Deployment Mode
9.3.7.4.3. Market size and forecast, by Type
9.3.7.4.4. Market size and forecast, by End User
9.3.7.4.5. Market size and forecast, by Pension Fund Size
9.3.7.5. Spain
9.3.7.5.1. Market size and forecast, by Component
9.3.7.5.2. Market size and forecast, by Deployment Mode
9.3.7.5.3. Market size and forecast, by Type
9.3.7.5.4. Market size and forecast, by End User
9.3.7.5.5. Market size and forecast, by Pension Fund Size
9.3.7.6. Rest of Europe
9.3.7.6.1. Market size and forecast, by Component
9.3.7.6.2. Market size and forecast, by Deployment Mode
9.3.7.6.3. Market size and forecast, by Type
9.3.7.6.4. Market size and forecast, by End User
9.3.7.6.5. Market size and forecast, by Pension Fund Size
9.4. Asia-Pacific
9.4.1. Key market trends, growth factors and opportunities
9.4.2. Market size and forecast, by Component
9.4.3. Market size and forecast, by Deployment Mode
9.4.4. Market size and forecast, by Type
9.4.5. Market size and forecast, by End User
9.4.6. Market size and forecast, by Pension Fund Size
9.4.7. Market size and forecast, by country
9.4.7.1. China
9.4.7.1.1. Market size and forecast, by Component
9.4.7.1.2. Market size and forecast, by Deployment Mode
9.4.7.1.3. Market size and forecast, by Type
9.4.7.1.4. Market size and forecast, by End User
9.4.7.1.5. Market size and forecast, by Pension Fund Size
9.4.7.2. Japan
9.4.7.2.1. Market size and forecast, by Component
9.4.7.2.2. Market size and forecast, by Deployment Mode
9.4.7.2.3. Market size and forecast, by Type
9.4.7.2.4. Market size and forecast, by End User
9.4.7.2.5. Market size and forecast, by Pension Fund Size
9.4.7.3. India
9.4.7.3.1. Market size and forecast, by Component
9.4.7.3.2. Market size and forecast, by Deployment Mode
9.4.7.3.3. Market size and forecast, by Type
9.4.7.3.4. Market size and forecast, by End User
9.4.7.3.5. Market size and forecast, by Pension Fund Size
9.4.7.4. Australia
9.4.7.4.1. Market size and forecast, by Component
9.4.7.4.2. Market size and forecast, by Deployment Mode
9.4.7.4.3. Market size and forecast, by Type
9.4.7.4.4. Market size and forecast, by End User
9.4.7.4.5. Market size and forecast, by Pension Fund Size
9.4.7.5. South Korea
9.4.7.5.1. Market size and forecast, by Component
9.4.7.5.2. Market size and forecast, by Deployment Mode
9.4.7.5.3. Market size and forecast, by Type
9.4.7.5.4. Market size and forecast, by End User
9.4.7.5.5. Market size and forecast, by Pension Fund Size
9.4.7.6. Rest of Asia-Pacific
9.4.7.6.1. Market size and forecast, by Component
9.4.7.6.2. Market size and forecast, by Deployment Mode
9.4.7.6.3. Market size and forecast, by Type
9.4.7.6.4. Market size and forecast, by End User
9.4.7.6.5. Market size and forecast, by Pension Fund Size
9.5. LAMEA
9.5.1. Key market trends, growth factors and opportunities
9.5.2. Market size and forecast, by Component
9.5.3. Market size and forecast, by Deployment Mode
9.5.4. Market size and forecast, by Type
9.5.5. Market size and forecast, by End User
9.5.6. Market size and forecast, by Pension Fund Size
9.5.7. Market size and forecast, by country
9.5.7.1. Latin America
9.5.7.1.1. Market size and forecast, by Component
9.5.7.1.2. Market size and forecast, by Deployment Mode
9.5.7.1.3. Market size and forecast, by Type
9.5.7.1.4. Market size and forecast, by End User
9.5.7.1.5. Market size and forecast, by Pension Fund Size
9.5.7.2. Middle East
9.5.7.2.1. Market size and forecast, by Component
9.5.7.2.2. Market size and forecast, by Deployment Mode
9.5.7.2.3. Market size and forecast, by Type
9.5.7.2.4. Market size and forecast, by End User
9.5.7.2.5. Market size and forecast, by Pension Fund Size
9.5.7.3. Africa
9.5.7.3.1. Market size and forecast, by Component
9.5.7.3.2. Market size and forecast, by Deployment Mode
9.5.7.3.3. Market size and forecast, by Type
9.5.7.3.4. Market size and forecast, by End User
9.5.7.3.5. Market size and forecast, by Pension Fund Size
CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Introduction
10.2. Top winning strategies
10.3. Product mapping of top 10 player
10.4. Competitive dashboard
10.5. Competitive heatmap
10.6. Top player positioning, 2022
CHAPTER 11: COMPANY PROFILES
11.1. Capita plc.
11.1.1. Company overview
11.1.2. Key executives
11.1.3. Company snapshot
11.1.4. Operating business segments
11.1.5. Product portfolio
11.1.6. Business performance
11.1.7. Key strategic moves and developments
11.2. Civica
11.2.1. Company overview
11.2.2. Key executives
11.2.3. Company snapshot
11.2.4. Operating business segments
11.2.5. Product portfolio
11.2.6. Key strategic moves and developments
11.3. Congruent Solutions, Inc.
11.3.1. Company overview
11.3.2. Key executives
11.3.3. Company snapshot
11.3.4. Operating business segments
11.3.5. Product portfolio
11.3.6. Key strategic moves and developments
11.4. PensionSoft Corporation, LLC
11.4.1. Company overview
11.4.2. Key executives
11.4.3. Company snapshot
11.4.4. Operating business segments
11.4.5. Product portfolio
11.5. Sagitec Solutions
11.5.1. Company overview
11.5.2. Key executives
11.5.3. Company snapshot
11.5.4. Operating business segments
11.5.5. Product portfolio
11.6. WTW
11.6.1. Company overview
11.6.2. Key executives
11.6.3. Company snapshot
11.6.4. Operating business segments
11.6.5. Product portfolio
11.6.6. Business performance
11.6.7. Key strategic moves and developments
11.7. Equiniti
11.7.1. Company overview
11.7.2. Key executives
11.7.3. Company snapshot
11.7.4. Operating business segments
11.7.5. Product portfolio
11.7.6. Key strategic moves and developments
11.8. Levi, Ray & Shoup Inc.
11.8.1. Company overview
11.8.2. Key executives
11.8.3. Company snapshot
11.8.4. Operating business segments
11.8.5. Product portfolio
11.9. TatvaSoft Software Development Company
11.9.1. Company overview
11.9.2. Key executives
11.9.3. Company snapshot
11.9.4. Operating business segments
11.9.5. Product portfolio
11.10. Zellis
11.10.1. Company overview
11.10.2. Key executives
11.10.3. Company snapshot
11.10.4. Operating business segments
11.10.5. Product portfolio
11.10.6. Key strategic moves and developments
List of Tables
Table 01. Global Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 02. Pension Administration Software Market for Solution, by Region, 2022-2032 ($Million)
Table 03. Pension Administration Software Market for Services, by Region, 2022-2032 ($Million)
Table 04. Global Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 05. Pension Administration Software Market for On-Premise, by Region, 2022-2032 ($Million)
Table 06. Pension Administration Software Market for Cloud, by Region, 2022-2032 ($Million)
Table 07. Global Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 08. Pension Administration Software Market for Public Pension, by Region, 2022-2032 ($Million)
Table 09. Pension Administration Software Market for Private Pension, by Region, 2022-2032 ($Million)
Table 10. Global Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 11. Pension Administration Software Market for Employers, by Region, 2022-2032 ($Million)
Table 12. Pension Administration Software Market for Pension Plan Administrators, by Region, 2022-2032 ($Million)
Table 13. Pension Administration Software Market for Government Agencies, by Region, 2022-2032 ($Million)
Table 14. Pension Administration Software Market for Others, by Region, 2022-2032 ($Million)
Table 15. Global Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 16. Pension Administration Software Market for Less Than $500 Million, by Region, 2022-2032 ($Million)
Table 17. Pension Administration Software Market for $500 Million to $1 Billion, by Region, 2022-2032 ($Million)
Table 18. Pension Administration Software Market for $1 Billion to $5 Billion, by Region, 2022-2032 ($Million)
Table 19. Pension Administration Software Market for $5 Billion to $10 Billion, by Region, 2022-2032 ($Million)
Table 20. Pension Administration Software Market for $10 Billion and Above, by Region, 2022-2032 ($Million)
Table 21. Pension Administration Software Market, by Region, 2022-2032 ($Million)
Table 22. North America Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 23. North America Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 24. North America Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 25. North America Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 26. North America Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 27. North America Pension Administration Software Market, by Country, 2022-2032 ($Million)
Table 28. U.S. Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 29. U.S. Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 30. U.S. Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 31. U.S. Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 32. U.S. Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 33. Canada Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 34. Canada Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 35. Canada Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 36. Canada Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 37. Canada Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 38. Mexico Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 39. Mexico Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 40. Mexico Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 41. Mexico Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 42. Mexico Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 43. Europe Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 44. Europe Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 45. Europe Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 46. Europe Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 47. Europe Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 48. Europe Pension Administration Software Market, by Country, 2022-2032 ($Million)
Table 49. UK Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 50. UK Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 51. UK Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 52. UK Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 53. UK Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 54. Germany Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 55. Germany Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 56. Germany Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 57. Germany Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 58. Germany Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 59. France Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 60. France Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 61. France Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 62. France Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 63. France Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 64. Italy Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 65. Italy Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 66. Italy Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 67. Italy Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 68. Italy Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 69. Spain Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 70. Spain Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 71. Spain Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 72. Spain Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 73. Spain Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 74. Rest of Europe Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 75. Rest of Europe Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 76. Rest of Europe Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 77. Rest of Europe Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 78. Rest of Europe Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 79. Asia-Pacific Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 80. Asia-Pacific Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 81. Asia-Pacific Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 82. Asia-Pacific Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 83. Asia-Pacific Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 84. Asia-Pacific Pension Administration Software Market, by Country, 2022-2032 ($Million)
Table 85. China Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 86. China Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 87. China Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 88. China Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 89. China Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 90. Japan Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 91. Japan Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 92. Japan Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 93. Japan Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 94. Japan Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 95. India Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 96. India Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 97. India Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 98. India Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 99. India Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 100. Australia Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 101. Australia Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 102. Australia Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 103. Australia Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 104. Australia Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 105. South Korea Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 106. South Korea Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 107. South Korea Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 108. South Korea Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 109. South Korea Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 110. Rest of Asia-Pacific Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 111. Rest of Asia-Pacific Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 112. Rest of Asia-Pacific Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 113. Rest of Asia-Pacific Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 114. Rest of Asia-Pacific Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 115. LAMEA Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 116. LAMEA Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 117. LAMEA Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 118. LAMEA Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 119. LAMEA Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 120. LAMEA Pension Administration Software Market, by Country, 2022-2032 ($Million)
Table 121. Latin America Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 122. Latin America Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 123. Latin America Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 124. Latin America Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 125. Latin America Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 126. Middle East Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 127. Middle East Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 128. Middle East Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 129. Middle East Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 130. Middle East Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 131. Africa Pension Administration Software Market, by Component, 2022-2032 ($Million)
Table 132. Africa Pension Administration Software Market, by Deployment Mode, 2022-2032 ($Million)
Table 133. Africa Pension Administration Software Market, by Type, 2022-2032 ($Million)
Table 134. Africa Pension Administration Software Market, by End-user, 2022-2032 ($Million)
Table 135. Africa Pension Administration Software Market, by Pension Fund Size, 2022-2032 ($Million)
Table 136. Capita PLC.: Key Executives
Table 137. Capita PLC.: Company Snapshot
Table 138. Capita PLC.: Product Segments
Table 139. Capita PLC.: Service Segments
Table 140. Capita PLC.: Product Portfolio
Table 141. Capita PLC.: Key Strategies
Table 142. Civica Election Services (Ces): Key Executives
Table 143. Civica Election Services (Ces): Company Snapshot
Table 144. Civica Election Services (Ces): Service Segments
Table 145. Civica Election Services (Ces): Product Portfolio
Table 146. Civica Election Services (Ces): Key Strategies
Table 147. Congruent Solutions, Inc.: Key Executives
Table 148. Congruent Solutions, Inc.: Company Snapshot
Table 149. Congruent Solutions, Inc.: Service Segments
Table 150. Congruent Solutions, Inc.: Product Portfolio
Table 151. Congruent Solutions, Inc.: Key Strategies
Table 152. Pensionsoft Corporation, LLC: Key Executives
Table 153. Pensionsoft Corporation, LLC: Company Snapshot
Table 154. Pensionsoft Corporation, LLC: Service Segments
Table 155. Pensionsoft Corporation, LLC: Product Portfolio
Table 156. Sagitec Solutions, LLC: Key Executives
Table 157. Sagitec Solutions, LLC: Company Snapshot
Table 158. Sagitec Solutions, LLC: Service Segments
Table 159. Sagitec Solutions, LLC: Product Portfolio
Table 160. Willis Towers Watson PLC: Key Executives
Table 161. Willis Towers Watson PLC: Company Snapshot
Table 162. Willis Towers Watson PLC: Service Segments
Table 163. Willis Towers Watson PLC: Product Portfolio
Table 164. Willis Towers Watson PLC: Key Strategies
Table 165. Equiniti Limited: Key Executives
Table 166. Equiniti Limited: Company Snapshot
Table 167. Equiniti Limited: Service Segments
Table 168. Equiniti Limited: Product Portfolio
Table 169. Equiniti Limited: Key Strategies
Table 170. Levi, Ray & Shoup Inc.: Key Executives
Table 171. Levi, Ray & Shoup Inc.: Company Snapshot
Table 172. Levi, Ray & Shoup Inc.: Service Segments
Table 173. Levi, Ray & Shoup Inc.: Product Portfolio
Table 174. Tatvasoft Software Development Company: Key Executives
Table 175. Tatvasoft Software Development Company: Company Snapshot
Table 176. Tatvasoft Software Development Company: Service Segments
Table 177. Tatvasoft Software Development Company: Product Portfolio
Table 178. Zellis UK Limited: Key Executives
Table 179. Zellis UK Limited: Company Snapshot
Table 180. Zellis UK Limited: Service Segments
Table 181. Zellis UK Limited: Product Portfolio
Table 182. Zellis UK Limited: Key Strategies
List of Figures
Figure 01. Pension Administration Software Market, 2022-2032
Figure 02. Segmentation of Pension Administration Software Market,2022-2032
Figure 03. Top Impacting Factors in Pension Administration Software Market (2022 to 2032)
Figure 04. Top Investment Pockets in Pension Administration Software Market (2023-2032)
Figure 05. Low Bargaining Power of Suppliers
Figure 06. Low Threat of New Entrants
Figure 07. Low Threat of Substitutes
Figure 08. Low Intensity of Rivalry
Figure 09. Low Bargaining Power of Buyers
Figure 10. Global Pension Administration Software Market: Drivers, Restraints and Opportunities
Figure 11. Pension Administration Software Market, by Component, 2022 and 2032(%)
Figure 12. Comparative Share Analysis of Pension Administration Software Market for Solution, by Country 2022 and 2032(%)
Figure 13. Comparative Share Analysis of Pension Administration Software Market for Services, by Country 2022 and 2032(%)
Figure 14. Pension Administration Software Market, by Deployment Mode, 2022 and 2032(%)
Figure 15. Comparative Share Analysis of Pension Administration Software Market for On-Premise, by Country 2022 and 2032(%)
Figure 16. Comparative Share Analysis of Pension Administration Software Market for Cloud, by Country 2022 and 2032(%)
Figure 17. Pension Administration Software Market, by Type, 2022 and 2032(%)
Figure 18. Comparative Share Analysis of Pension Administration Software Market for Public Pension, by Country 2022 and 2032(%)
Figure 19. Comparative Share Analysis of Pension Administration Software Market for Private Pension, by Country 2022 and 2032(%)
Figure 20. Pension Administration Software Market, by End-user, 2022 and 2032(%)
Figure 21. Comparative Share Analysis of Pension Administration Software Market for Employers, by Country 2022 and 2032(%)
Figure 22. Comparative Share Analysis of Pension Administration Software Market for Pension Plan Administrators, by Country 2022 and 2032(%)
Figure 23. Comparative Share Analysis of Pension Administration Software Market for Government Agencies, by Country 2022 and 2032(%)
Figure 24. Comparative Share Analysis of Pension Administration Software Market for Others, by Country 2022 and 2032(%)
Figure 25. Pension Administration Software Market, by Pension Fund Size, 2022 and 2032(%)
Figure 26. Comparative Share Analysis of Pension Administration Software Market for Less Than $500 Million, by Country 2022 and 2032(%)
Figure 27. Comparative Share Analysis of Pension Administration Software Market for $500 Million to $1 Billion, by Country 2022 and 2032(%)
Figure 28. Comparative Share Analysis of Pension Administration Software Market for $1 Billion to $5 Billion, by Country 2022 and 2032(%)
Figure 29. Comparative Share Analysis of Pension Administration Software Market for $5 Billion to $10 Billion, by Country 2022 and 2032(%)
Figure 30. Comparative Share Analysis of Pension Administration Software Market for $10 Billion and Above, by Country 2022 and 2032(%)
Figure 31. Pension Administration Software Market by Region, 2022 and 2032(%)
Figure 32. U.S. Pension Administration Software Market, 2022-2032 ($Million)
Figure 33. Canada Pension Administration Software Market, 2022-2032 ($Million)
Figure 34. Mexico Pension Administration Software Market, 2022-2032 ($Million)
Figure 35. UK Pension Administration Software Market, 2022-2032 ($Million)
Figure 36. Germany Pension Administration Software Market, 2022-2032 ($Million)
Figure 37. France Pension Administration Software Market, 2022-2032 ($Million)
Figure 38. Italy Pension Administration Software Market, 2022-2032 ($Million)
Figure 39. Spain Pension Administration Software Market, 2022-2032 ($Million)
Figure 40. Rest of Europe Pension Administration Software Market, 2022-2032 ($Million)
Figure 41. China Pension Administration Software Market, 2022-2032 ($Million)
Figure 42. Japan Pension Administration Software Market, 2022-2032 ($Million)
Figure 43. India Pension Administration Software Market, 2022-2032 ($Million)
Figure 44. Australia Pension Administration Software Market, 2022-2032 ($Million)
Figure 45. South Korea Pension Administration Software Market, 2022-2032 ($Million)
Figure 46. Rest of Asia-Pacific Pension Administration Software Market, 2022-2032 ($Million)
Figure 47. Latin America Pension Administration Software Market, 2022-2032 ($Million)
Figure 48. Middle East Pension Administration Software Market, 2022-2032 ($Million)
Figure 49. Africa Pension Administration Software Market, 2022-2032 ($Million)
Figure 50. Top Winning Strategies, by Year (2022-2023)
Figure 51. Top Winning Strategies, by Development (2022-2023)
Figure 52. Top Winning Strategies, by Company (2022-2023)
Figure 53. Product Mapping of Top 10 Players
Figure 54. Competitive Dashboard
Figure 55. Competitive Heatmap: Pension Administration Software Market
Figure 56. Top Player Positioning, 2022
Figure 57. Capita PLC.: Net Sales, 2020-2022 ($Million)
Figure 58. Capita PLC.: Revenue Share by Region, 2022 (%)
Figure 59. Capita PLC.: Revenue Share by Segment, 2022 (%)
Figure 60. Willis Towers Watson PLC: Net Revenue, 2021-2023 ($Million)
Figure 61. Willis Towers Watson PLC: Revenue Share by Segment, 2023 (%)
Figure 62. Willis Towers Watson PLC: Revenue Share by Region, 2023 (%)

Executive Summary

According to the report titled, 'Pension Administration Software Market,' the pension administration software market was valued at $4 billion in 2021 and is estimated to reach $12.2 billion by 2031, growing at a CAGR of 12.3% from 2022 to 2031, owing to increasing market demand from the finance sector.

Pension administration software is a type of computer program that is used to manage and administer pension plans. It is typically used by pension plan administrators and trustees to track and manage plan participant information, calculate and pay benefits, and manage plan assets. The software can also be used to comply with legal and regulatory requirements related to pension plan administration. It can be used for both defined benefit and defined contribution pension plans. Moreover, pension administration software refers to the process of managing and overseeing a pension plan, including tasks such as enrolling new participants, tracking contributions, calculating and paying benefits, managing plan assets, and complying with legal and regulatory requirements. This process is typically carried out by pension plan administrators or trustees and may involve a team of professionals with expertise in areas such as actuarial science, accounting, and legal compliance. The goal of pension administration software is to ensure that the pension plan is properly managed and that participants' benefits are paid out as intended. In addition, vendors are focusing on user experience and ease of use to attract customers and ensure customer satisfaction. The requirement for pension administration software to comply with regulations and industry standards is a key factor driving the market.

Key factors driving the growth of the pension administration software market include factors, such as it helps to reduce process turnaround time by automating pension processes which use to take a long time to do manually. Moreover, posting late fees, creating and delivering letters of default, and calculating penalties and fees are just a few of the tasks which are done through software management. Also, this pension administration software helps to streamline many elements of day-to-day work, allowing the team to focus their efforts and energy on what is extremely crucial and simply eliminate lower-value, time-consuming duties. Moreover, the pension administration software is web-based, giving administrators, employers, members, and retirees access to the information they need in a few easily navigated screens. In addition, it offers integrated mobile and self-service portals which provide members secure access to their personal benefits information, calculation functions, and communications. Furthermore, pension administration software helps in modeling, planning, and calculation tools allowing members to be more proactive as they plan their futures, thus providing a modern customer experience. Contrary on the other hand, technology or utilizing the digital space in different sectors eases the task of streamlining and processing the collected data, but this can be a hindrance when technology is being used while dealing with the elderly population. The foremost reason is the elder generations are not acquainted with the basic operations of a cellphone. Thus, using technology to streamline the work associated with pensions is a difficult task and the other is making the elderly acquainted with the same.

The market also offers growth opportunities to the key players in the market since there is a significant opportunity for expansion into emerging markets. Furthermore, less process time, automatic process of pension fund allocation, less paperwork and better innovative technology will boost the pension administration software market. However, by delivering advanced services, such as quick and convenient pension plans with reduced paperwork, the use of technology is aimed to promote client loyalty and expand the company's market position. Thus, these factors are expected to offer lucrative growth opportunities for the pension administration software market in the upcoming years.

The pension administration software market is segmented on the basis of component, deployment mode, type, end users and region. By component, it is segmented into solution and service. By deployment mode, it is bifurcated into, on-premise and cloud. By type, it is segmented into public pension and private pension. By end users, it is segmented into employers, pension plan administrators, government agencies, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the pension administration software market such as Capita plc., Civica, Congruent Solutions, Inc., Equiniti, Levi, Ray & Shoup Inc., PensionSoft Corporation, LLC, Sagitec Solutions, TatvaSoft Software Development Company, WTW, and Zellis. These players have adopted various Strategies to increase their market penetration and strengthen their position in the pension administration software industry.

Key Market Insights

  • By component, the solution segment led the pension administration software market in terms of revenue in 2021.
  • By deployment mode, the on-premise segment accounted for the highest pension administration software market share in 2021.
  • By type, the public pension segment accounted for the highest pension administration software market share in 2021.
  • By end user, the employers segment accounted for the highest pension administration software market share in 2021.
  • By region, North America generated the highest revenue in 2021.

Companies Mentioned

Key Market Players in the Pension Administration Software Market include:
  • WTW
  • Capita plc.
  • Zellis
  • Civica
  • Sagitec Solutions
  • Levi
  • Ray & Shoup Inc.
  • Congruent Solutions Inc.
  • PensionSoft Corporation LLC
  • Equiniti
  • TatvaSoft Software Development Company

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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