The global employee wellness software market was valued at USD 581.9 million in 2022 and is expected to surpass USD 1.11 Billion by 2031, expanding at a CAGR of 7.47% during the forecast period, 2023–2031. Employee wellness software is a comprehensive method to motivate employees to pay attention to their health, resulting in more balanced company culture.
Companies can use the software to encourage their staff to live healthier lifestyles. Employee involvement, confidential health exams, incentives and rewards, health education, and progress monitoring are few of the options.
Machine learning, AI, and other technologies are supported by employee wellness software, resulting in tailored exercise regimens for each employee. The programme also includes individualised food charts, step tracking and monitoring, motorised cholesterol, blood pressure monitoring, and personal health coaches.
Market Trends, Drivers, Restraints, and Opportunities:
-
Increasing awareness among employees to regularly screen health by software, encourage preventative care, and save medical expenses is driving the market growth.
-
Employee health software can benefit from the growing usage of smartphones in developed countries. Employee wellness motivates employees to adopt a healthy lifestyle, which helps organisations boost productivity and save expenses.
-
Lack of awareness about such programs in developing countries can hinder the market growth
-
Many organizations and enterprises across a variety of industry verticals have begun to develop health-related programmes for their employees, which is estimated to create lucrative opportunities for the market.
Scope of the report:
The report on the global employee wellness software market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Employee Wellness Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016 & 2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Types (Mobile App and Web-based), Deployment Modes (Cloud and On-premise), Organization Size [Large Enterprises (1000+ Users), Medium-Sized Enterprise (499-1000 Users), and Small Enterprises (1-499 Users)),
|
|
Regional Scope
|
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
|
|
Report Coverage
|
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
|
|
Key Players Covered in the Report
|
Sprout, Achievers, Tracxn Technologies, Virtuagym, CoreHealth Technologies, Elevo, Terryberry, LifeWorks, Corporate Health Partners, Virgin Pulse
|
Employee Wellness Software Market Segment Insights:
Mobile app segment is projected to hold a significant market share
In the terms of types, the market can be bifurcated into mobile apps and web-based. The mobile apps segment held a considerable share of the market in 2020 owing to rising health consciousness, smartphone usage, and the use of fitness applications. Furthermore, a significant increase in fitness app downloads during the COVID-19 epidemic is fueling the segment growth.
According to the World Health Organization (WHO) research, the number of individuals using health and wellness applications was expected to increase by 78% by 2020. Additionally, the working population in emerging nations and demand for employee wellness software are spurring the segment growth.
Cloud segment held a substantial market share in 2020
Based on applications, the market can be fragmented into cloud and on-premise. The cloud segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period. An employee can access the software from almost anywhere due to cloud deployment.
Affordability, high security and quick deployment are some of the major drivers behind the high adoption of cloud software. As cloud segment software has comparatively low maintenance costs than on-premise, it is much preferred by employers’.
Large enterprises segment to grow at a steady rate during the forecast period
Based on end-users, the market can be segregated into large enterprises (1000+ users), medium-sized enterprises (499-1000 users), and small enterprises (1-499 users). The large enterprises segment is expected to hold a significant share of the market during the forecast period.
Services and programs can be integrated into the infrastructure of larger organizations. Small businesses might profit from corporate memberships and services outsourcing. Employee wellness initiatives aid in the detection of a variety of illnesses.
Health screening programs are done regularly to monitor health, promote preventative care, and lower treatment costs. Employee wellness programs that concentrate on these diseases can help to minimize disease burden and the total cost of healthcare premiums paid by the business to any insurance provider.
North America to dominate the global market
In terms of regions, the global employee wellness software market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America constituted a significant share of the market in 2020 due to rising awareness among employees about health.
During the forecast period, the market in Asia Pacific is expected to develop at a rapid pace owing to growing demand for employee wellness programs, rising working population, and increased awareness of employee health management in countries such as India and China.
Segments
By Types
By Deployment Modes
By Organization Size
- Large Enterprises (1000+ Users)
- Medium-Sized Enterprises (499-1000 Users)
- Small Enterprises (1-499 Users)
By Regions
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East & Africa
Key Players
- Sprout
- Achievers
- Tracxn Technologies
- Virtuagym
- CoreHealth Technologies
- Elevo
- Terryberry
- LifeWorks
- Corporate Health Partners
- Virgin Pulse
Competitive Landscape
Key players in the global employee wellness software market are Sprout, Achievers, Tracxn Technologies, Virtuagym, CoreHealth Technologies, Elevo, Terryberry, LifeWorks, Corporate Health Partners, Virgin Pulse. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Request For Customization
Enquiry Before Buying
Speak With Analyst
