Global Pension Fund Management Software Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Pension Fund Management Software is a set of computer application utilized for effective management of retirement fund management. Pension Fund Management Software covers different aspects of pension fund management such as superannuation, gratuity, accounting, and provident funds among others. The increasing adoption of cloud-based applications and growing investment in pension fund schemes as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista - in 2021, the global cloud applications market was valued at USD 133.6 billion, and the market is projected to grow to USD 168.6 billion by 2025. Also, rising demand for real time fund analytics platforms and favorable government initiatives to promote pension fund investment would create lucrative growth prospectus for the market over the forecast period. However, variation in fund Laws and data security concerns impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pension Fund Management Software Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to rising digitization as well as presence of leading market players in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising IT sector as well as increasing investment in pension fund schemes in the region.
Major market players included in this report are:
Vitech Systems Group
Aquila
Sagitec Solutions
Morneau Shepell Inc
Oracle
SAP
Lynchval Systems Worldwide
Inc.
Workday
LRS Retirement Solutions
Visma
Recent Developments in the Market:
In February 2020, LRS Retirement solutions announced extended partnership with Alameda County Employees' Retirement Association (ACERA). Through this partnership LRS would deploy its PensionGold? Version 3 software.
In April 2020, Vitech Systems Group entered in a strategic partnership with Innovation Underwriters (IU). Through this partnership Vitech would provide Software solutions to IU.
Global Pension Fund Management Software Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Deployment Mode, Enterprise Size, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application
Android
iPhone
Web-Based
By Deployment Mode
Cloud
On-Premises
Hybrid
By Enterprise Size
Small And Medium-Sized Enterprises
Large Enterprises
By End User
Banking
Financial Institutions
Credit Unions
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
