- Employee wellness software is a holistic approach to encourage employees to focus on their fitness, which results in maintaining a balanced corporate culture. The software helps companies to motivate their employees to maintain a healthy lifestyle. The solutions include employee participation, confidential health assessments, incentives and rewards, health education, and progress tracking, among others. The rising adoption of fitness solutions in various industrial verticals is the key factor that is expected to drive demand for employee wellness software in the near future.
- Employee wellness software supports machine learning, AI, and other technologies which results in providing personalized fitness programs to every employee. The software also provides personalized diet charts, tracks and monitors footsteps, and provides motorized cholesterol and blood pressure as well as personalized health coaches. All these factors are likely to fuel the growth of the employee wellness software market during the forecast period.
Request for a sample:
Key Drivers of the Employee Wellness Software Market
- Rising awareness among employees is the major factor that drives the demand for employee wellness software. The software enables employees to detect different diseases on their own. Health screening software are performed on a regular basis to monitor health, encourage preventive care, and lower medical costs. Employee wellness software includes plans that focuses on conditions that help to minimize disease risk and the total cost of healthcare premiums charged by the employer to the insurance company.
- Rising adoption of smartphones in developed economies provides growth opportunity to employee wellness software. For instance, according to the Mobile Economy Survey 2018, smartphone penetration will rise to 87% by 2025, up from 57% in 2017. Employees are motivated to live a healthy lifestyle, which helps businesses increase efficiency and cut costs by improving employee wellness. In the coming years, the cumulative cost of lost production due to illness-related absenteeism is estimated to reach USD 300 Bn in 2020. Increased insurance premiums are a result of the increasing number of obese and overweight people.
- However, lack of awareness in developing economies is expected to hamper the growth of the employee wellness software market
PreBook Now:
https://www.transparencymarketresearch.com/checkout.php?rep_id=82079<ype=S
Impact of COVID-19 on the Global Employee Wellness Software Market
The COVID-19 pandemic adversely affects all industries. Businesses have found ways to physically secure and prioritize their employees by offering new leave policies. Priorities of employers have changed to preventive and positive management, which includes assisting employees in adapting to new requirements. For instance, according to a WHO survey in 2020, the number of regular active users of fitness apps in their smartphones increased by 60%. Furthermore, fitness classes, yoga sessions, and gyms shifted their classes to the online mode. Many people are buying exercise equipment for their homes. For example, Peloton, a fitness equipment company headquartered in the United States, is expected to generate US $2 Bn in revenue this year.
North America Accounts for Dominant Share of the Global Employee Wellness Software Market
- North America holds the largest market share in the global employee wellness software market. The rising fitness awareness in employees is the major factor that drives the demand for employee wellness software. For instance, the RAND workplace survey reported that nearly 70% of employers in the U.S. provide health services to their workers. Larger employers offer more nuanced health programs. For instance, in December 2020, Apple, Inc. released a special employee fitness+ app for Apple employees. This app includes yoga training, cycling, rowing, treadmill, and many other options.
- The employee wellness software market in Asia Pacific is driven by key factors such as rising health awareness, increasing smartphone penetration, and an increase in the penetration of fitness apps. Furthermore, during the COVID-19 pandemic, the region saw a large spike in fitness app downloads. According to a study released by WHO, the number of people using health and wellness apps has risen by 78% in 2020. Furthermore, the rising working population in developing economies results in increasing demand for employee wellness software in this region.
Ask for brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=82079
Key Players Operating in the Global Employee Wellness Software Market
- BSDI
- Infinite Wellness Solutions
- Sprout, Burner Fitness
- Ceridian Lifeworks
- Wellness Layers
- Corporate Health Partners
- CoreHealth Technologies
- MediKeeper
- Alyfe Wellbeing Strategies
- Virgin Pulse
- Rival Health
- Protocol Driven Healthcare, Inc.
- Atlas Marketing
Read Our Latest News Release:
