The North America Pension Administration Software Market would witness market growth of 11.2% CAGR during the forecast period (2022-2028).
By automating pension activities that used to take a lot of time to complete manually, the pension administration software helps to shorten turnaround times for processes. Additionally, a few of the responsibilities that are handled by software management include posting late fees, writing and distributing letters of default, and computing penalties and costs.
Additionally, this software for managing pensions helps to simplify many aspects of daily work, enabling the team to concentrate their efforts and energy on what is really essential and omit lower-value, time-consuming tasks. Additionally, pension administration software contributes to cost savings by improving the way the process operates.
Through lower procurement prices and generalised improvements in efficiency, such technological advancements contribute to an improvement in the organization's bottom line. Additionally, by using such pension administration software technology, the difficult procedure of managing and investing the pension funds in the employee's retirement savings account (RSA) has been simplified. These are therefore some of the elements that contribute to the market for pension administration software's expansion.
The North America region dominated the global pension administration software market. Due to government measures including automatic enrolment in defined benefit programmes and improved public awareness of pension rights, the area is expected to see substantial growth throughout the projected period. The North American pension administration software market is one of the largest in the world markets as a result of an ageing population. Both the United States' Social Security system and Canada's Pension Plan (CPP) are government-mandated, publicly financed old-age pension plans. Both nations provide survivorship, disability, and retirement benefits. Notably, defined contribution (D.C.) retirement plans serve as the cornerstone of the private sector retirement system in the United States. The second most popular kind of retirement savings account is the regular savings account, which is utilised by many Americans.
The US market dominated the North America Pension Administration Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,298 million by 2028. The Canada market is poised to grow at a CAGR of 13.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13.1% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Type, the market is segmented into Public Pension and Private Pension. Based on End User, the market is segmented into Government Agencies, Pension Plan Administrators, Employers and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Pension Administration Software Market is Predict to reach $8.6 Billion by 2028, at a CAGR of 12%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Equiniti Group plc (Siris Capital Group LLC), Civica (Camelia Investment Limited), Capita plc., Aon plc, Zellis Holdings Limited, Congruent Solutions, Inc., Levi, Ray & Shoup, Inc., PensionSoft Corporation, LLC, Sagitec Solutions, LLC, and TatvaSoft Software Development Company.
Scope of the Study
Market Segments Covered in the Report:
By Component
By Deployment
By Type
- Public Pension
- Private Pension
By End User
- Government Agencies
- Pension Plan Administrators
- Employers
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Equiniti Group plc (Siris Capital Group LLC)
- Civica (Camelia Investment Limited)
- Capita plc.
- Aon plc
- Zellis Holdings Limited
- Congruent Solutions, Inc.
- Levi, Ray & Shoup, Inc.
- PensionSoft Corporation, LLC
- Sagitec Solutions, LLC
- TatvaSoft Software Development Company
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Pension Administration Software Market, by Component
1.4.2 North America Pension Administration Software Market, by Deployment
1.4.3 North America Pension Administration Software Market, by Type
1.4.4 North America Pension Administration Software Market, by End User
1.4.5 North America Pension Administration Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Pension Administration Software Market by Component
3.1 North America Solution Market by Country
3.2 North America Services Market by Country
Chapter 4. North America Pension Administration Software Market by Deployment
4.1 North America Cloud Market by Country
4.2 North America On-premise Market by Country
Chapter 5. North America Pension Administration Software Market by Type
5.1 North America Public Pension Market by Country
5.2 North America Private Pension Market by Country
Chapter 6. North America Pension Administration Software Market by End User
6.1 North America Government Agencies Market by Country
6.2 North America Pension Plan Administrators Market by Country
6.3 North America Employers Market by Country
6.4 North America Others Market by Country
Chapter 7. North America Pension Administration Software Market by Country
7.1 US Pension Administration Software Market
7.1.1 US Pension Administration Software Market by Component
7.1.2 US Pension Administration Software Market by Deployment
7.1.3 US Pension Administration Software Market by Type
7.1.4 US Pension Administration Software Market by End User
7.2 Canada Pension Administration Software Market
7.2.1 Canada Pension Administration Software Market by Component
7.2.2 Canada Pension Administration Software Market by Deployment
7.2.3 Canada Pension Administration Software Market by Type
7.2.4 Canada Pension Administration Software Market by End User
7.3 Mexico Pension Administration Software Market
7.3.1 Mexico Pension Administration Software Market by Component
7.3.2 Mexico Pension Administration Software Market by Deployment
7.3.3 Mexico Pension Administration Software Market by Type
7.3.4 Mexico Pension Administration Software Market by End User
7.4 Rest of North America Pension Administration Software Market
7.4.1 Rest of North America Pension Administration Software Market by Component
7.4.2 Rest of North America Pension Administration Software Market by Deployment
7.4.3 Rest of North America Pension Administration Software Market by Type
7.4.4 Rest of North America Pension Administration Software Market by End User
Chapter 8. Company Profiles
8.1 Equiniti Group plc (Siris Capital Group LLC)
8.1.1 Company Overview
8.1.2 Recent strategies and developments:
8.1.2.1 Acquisition and Mergers:
8.2 Civica (Camelia Investment Limited)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Acquisition and Mergers:
8.3 Capita plc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.4 Aon plc
8.4.1 Company Overview
8.4.2 Financial Analysis`
8.4.3 Regional Analysis
8.5 Zellis Holdings Limited
8.5.1 Company Overview
8.5.2 Financial Analysis
8.6 Congruent Solutions, Inc.
8.6.1 Company Overview
8.7 Levi, Ray & Shoup, Inc.
8.7.1 Company Overview
8.8 PensionSoft Corporation, LLC
8.8.1 Company Overview
8.9 Sagitec Solutions, LLC
8.9.1 Company Overview
8.10. TatvaSoft Software Development Company
8.10.1 Company Overview
TABLE 1 North America Pension Administration Software Market, 2018 - 2021, USD Million
TABLE 2 North America Pension Administration Software Market, 2022 - 2028, USD Million
TABLE 3 North America Pension Administration Software Market by Component, 2018 - 2021, USD Million
TABLE 4 North America Pension Administration Software Market by Component, 2022 - 2028, USD Million
TABLE 5 North America Solution Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Solution Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Pension Administration Software Market by Deployment, 2018 - 2021, USD Million
TABLE 10 North America Pension Administration Software Market by Deployment, 2022 - 2028, USD Million
TABLE 11 North America Cloud Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Cloud Market by Country, 2022 - 2028, USD Million
TABLE 13 North America On-premise Market by Country, 2018 - 2021, USD Million
TABLE 14 North America On-premise Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Pension Administration Software Market by Type, 2018 - 2021, USD Million
TABLE 16 North America Pension Administration Software Market by Type, 2022 - 2028, USD Million
TABLE 17 North America Public Pension Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Public Pension Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Private Pension Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Private Pension Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Pension Administration Software Market by End User, 2018 - 2021, USD Million
TABLE 22 North America Pension Administration Software Market by End User, 2022 - 2028, USD Million
TABLE 23 North America Government Agencies Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Government Agencies Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Pension Plan Administrators Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Pension Plan Administrators Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Employers Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Employers Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Pension Administration Software Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Pension Administration Software Market by Country, 2022 - 2028, USD Million
TABLE 33 US Pension Administration Software Market, 2018 - 2021, USD Million
TABLE 34 US Pension Administration Software Market, 2022 - 2028, USD Million
TABLE 35 US Pension Administration Software Market by Component, 2018 - 2021, USD Million
TABLE 36 US Pension Administration Software Market by Component, 2022 - 2028, USD Million
TABLE 37 US Pension Administration Software Market by Deployment, 2018 - 2021, USD Million
TABLE 38 US Pension Administration Software Market by Deployment, 2022 - 2028, USD Million
TABLE 39 US Pension Administration Software Market by Type, 2018 - 2021, USD Million
TABLE 40 US Pension Administration Software Market by Type, 2022 - 2028, USD Million
TABLE 41 US Pension Administration Software Market by End User, 2018 - 2021, USD Million
TABLE 42 US Pension Administration Software Market by End User, 2022 - 2028, USD Million
TABLE 43 Canada Pension Administration Software Market, 2018 - 2021, USD Million
TABLE 44 Canada Pension Administration Software Market, 2022 - 2028, USD Million
TABLE 45 Canada Pension Administration Software Market by Component, 2018 - 2021, USD Million
TABLE 46 Canada Pension Administration Software Market by Component, 2022 - 2028, USD Million
TABLE 47 Canada Pension Administration Software Market by Deployment, 2018 - 2021, USD Million
TABLE 48 Canada Pension Administration Software Market by Deployment, 2022 - 2028, USD Million
TABLE 49 Canada Pension Administration Software Market by Type, 2018 - 2021, USD Million
TABLE 50 Canada Pension Administration Software Market by Type, 2022 - 2028, USD Million
TABLE 51 Canada Pension Administration Software Market by End User, 2018 - 2021, USD Million
TABLE 52 Canada Pension Administration Software Market by End User, 2022 - 2028, USD Million
TABLE 53 Mexico Pension Administration Software Market, 2018 - 2021, USD Million
TABLE 54 Mexico Pension Administration Software Market, 2022 - 2028, USD Million
TABLE 55 Mexico Pension Administration Software Market by Component, 2018 - 2021, USD Million
TABLE 56 Mexico Pension Administration Software Market by Component, 2022 - 2028, USD Million
TABLE 57 Mexico Pension Administration Software Market by Deployment, 2018 - 2021, USD Million
TABLE 58 Mexico Pension Administration Software Market by Deployment, 2022 - 2028, USD Million
TABLE 59 Mexico Pension Administration Software Market by Type, 2018 - 2021, USD Million
TABLE 60 Mexico Pension Administration Software Market by Type, 2022 - 2028, USD Million
TABLE 61 Mexico Pension Administration Software Market by End User, 2018 - 2021, USD Million
TABLE 62 Mexico Pension Administration Software Market by End User, 2022 - 2028, USD Million
TABLE 63 Rest of North America Pension Administration Software Market, 2018 - 2021, USD Million
TABLE 64 Rest of North America Pension Administration Software Market, 2022 - 2028, USD Million
TABLE 65 Rest of North America Pension Administration Software Market by Component, 2018 - 2021, USD Million
TABLE 66 Rest of North America Pension Administration Software Market by Component, 2022 - 2028, USD Million
TABLE 67 Rest of North America Pension Administration Software Market by Deployment, 2018 - 2021, USD Million
TABLE 68 Rest of North America Pension Administration Software Market by Deployment, 2022 - 2028, USD Million
TABLE 69 Rest of North America Pension Administration Software Market by Type, 2018 - 2021, USD Million
TABLE 70 Rest of North America Pension Administration Software Market by Type, 2022 - 2028, USD Million
TABLE 71 Rest of North America Pension Administration Software Market by End User, 2018 - 2021, USD Million
TABLE 72 Rest of North America Pension Administration Software Market by End User, 2022 - 2028, USD Million
TABLE 73 Key Information – Equiniti Group plc
TABLE 74 Key Information – Civica
TABLE 75 Key Information – Capita plc.
TABLE 76 Key Information – Aon plc
TABLE 77 Key Information – Zellis Holdings Limited
TABLE 78 Key Information – Congruent Solutions, Inc.
TABLE 79 Key Information – Levi, Ray & Shoup, Inc.
TABLE 80 Key Information – PensionSoft Corporation, LLC
TABLE 81 Key Information – Sagitec Solutions, LLC
TABLE 82 Key Information – TatvaSoft Software Development Company
List of Figures
FIG 1 Methodology for the research