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According to the latest research, the global Financial Wellness Program market size was valued at USD 2154.37 million in 2022 and is expected to expand at a CAGR of 15.7% during the forecast period, reaching USD 5168.63 million by 2028.
The Financial Wellness Program is a program designed to educate employees about personal financial risks (which may include loss of income due to premature death or illness, unexpected out-of-pocket medical expenses, etc.) and provides tools to manage these risks. There is a lot of financial pressure, which will consume a lot of manpower, which may require job changes. Providing the Financial Wellness Program may greatly help attract and retain employees. Financial Wellness Program is a solution that can help companies provide financial management education for employees, including planning, budgeting and reducing financial pressure.
Increased user stickiness
The impact of COVID-19 on the Financial Wellness Program industry will involve all major links and all entities in the entire industry chain. Downstream demand has decreased, the company's management efficiency has declined, commuting has been severely hindered, marketing has been delayed, sales Have been affected, and company and employee revenue have declined. The services of the Financial Wellness Program can be carried out through the mobile process. During the epidemic, due to isolation and other needs, or to avoid the need to go out, employees can learn through the relevant mobile program Some of your own financial situation, such as credit, whether there is paid sick leave, insurance, and expenditure. From this perspective, COVID-19 is a process of increasing viscosity with users for the Financial Wellness Program market.
SMEs in crisis
The main application area of the Financial Wellness Program market is enterprises, COVID-19 has a huge impact on the operation of the industry, of which the impact on SMEs is more obvious. The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. Some small and medium-sized enterprises are in trouble or even bankrupt.
Strength
increase in demand
The number of suppliers launching the latest Financial Wellness Program has surged, which has promoted the development of the Financial Wellness Program market. In addition, the upsurge of one-to-one and digital assistance will promote market growth. With the coming retirement of baby boomers and the attention of new generation employees (millennials) entering the workplace, the demand of global Financial Wellness Program market is increasing.
Finance will affect the lives of every functional department of the company and every employee. If an employee finances are stretched, it will negatively affect job satisfaction, attitude, and performance. Employees with great financial pressure will miss more job opportunities and pay higher healthcare costs than colleagues. These factors will inevitably damage the company employee engagement and ultimately affect the company profits, especially when financial difficulties affect many employees.
Weakness
Data and technology security issues
The main factor hindering the market is the problems related to data and security, which are caused by the high dependence on technology and data integration. The Financial Wellness Program is connected with the data function and may be the target of various network attacks. Therefore, network security and data protection have become a problem in these Financial Wellness Program.
Newly Sprouted Things
Because Financial Wellness Program is a new thing, it lacks extensive cognition in social existence, and some companies and employees don not know it deeply, so it is not conducive to opening up the market. At present, the Financial Wellness Program is in the early stage of development, lacking mature operation system and relevant standards. It is expected that this will hinder the growth of the market.
Region Overview:
In 2022, the share of the Financial Wellness Program market in North America stood at 50.3%.
Company Overview:
Prudential, Morgan Stanley, Fidelity, Mercer and KeyBank are the five key players in the global Financial Wellness Program market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Financial Wellness Program market in the past 5 years.
Prudential
Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the United States and in over 40 other countries.
Morgan Stanley
Morgan Stanley is a financial services corporation that, through its affiliates and subsidiaries, advises, and originates, trades, manages, and distributes capital for institutions, governments, and individuals. The company operates in three business segments: Institutional Securities, Wealth Management, and Investment Management.
Segmentation Overview:
By type, For Employers segment accounted for the largest share of market in 2022.
Application Overview:
The market's largest segment by application is the segment Large Enterprises, with a market share of 73.78% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Financial Wellness Program industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Financial Wellness Program. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Financial Wellness Program Market Report Include:
Market Size Estimates: Financial Wellness Program market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Financial Wellness Program market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Financial Wellness Program market
Segment Market Analysis: Financial Wellness Program market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Financial Wellness Program market situations and prospects in major and top regions and countries
Financial Wellness Program Market
Financial Wellness Program Industry Chain: Financial Wellness Program market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Financial Wellness Program Industry News, Policies by regions
Financial Wellness Program Industry Porters Five Forces Analysis
Key players in the global Financial Wellness Program market are covered in Chapter 2:
PayActiv
Mercer
Prosperity Now
Fidelity
My Secure Advantage (MSA)
Enrich Financial Wellness
Morgan Stanley
Wellable
KeyBank
Health Advocate
Edukate
SmartDollar
Financial Fitness Group
Prudential
In Chapter 6 and Chapter 9, on the basis of types, the Financial Wellness Program market from 2018 to 2028 is primarily split into:
For Employers
For Employees
In Chapter 7 and Chapter 10, on the basis of applications, the Financial Wellness Program market from 2018 to 2028 covers:
Large Enterprises
SMEs
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Financial Wellness Program market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Financial Wellness Program industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Financial Wellness Program market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Financial Wellness Program industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Financial Wellness Program market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Financial Wellness Program market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Financial Wellness Program market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
The Financial Wellness Program is a program designed to educate employees about personal financial risks (which may include loss of income due to premature death or illness, unexpected out-of-pocket medical expenses, etc.) and provides tools to manage these risks. There is a lot of financial pressure, which will consume a lot of manpower, which may require job changes. Providing the Financial Wellness Program may greatly help attract and retain employees. Financial Wellness Program is a solution that can help companies provide financial management education for employees, including planning, budgeting and reducing financial pressure.
Increased user stickiness
The impact of COVID-19 on the Financial Wellness Program industry will involve all major links and all entities in the entire industry chain. Downstream demand has decreased, the company's management efficiency has declined, commuting has been severely hindered, marketing has been delayed, sales Have been affected, and company and employee revenue have declined. The services of the Financial Wellness Program can be carried out through the mobile process. During the epidemic, due to isolation and other needs, or to avoid the need to go out, employees can learn through the relevant mobile program Some of your own financial situation, such as credit, whether there is paid sick leave, insurance, and expenditure. From this perspective, COVID-19 is a process of increasing viscosity with users for the Financial Wellness Program market.
SMEs in crisis
The main application area of the Financial Wellness Program market is enterprises, COVID-19 has a huge impact on the operation of the industry, of which the impact on SMEs is more obvious. The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. Some small and medium-sized enterprises are in trouble or even bankrupt.
Strength
increase in demand
The number of suppliers launching the latest Financial Wellness Program has surged, which has promoted the development of the Financial Wellness Program market. In addition, the upsurge of one-to-one and digital assistance will promote market growth. With the coming retirement of baby boomers and the attention of new generation employees (millennials) entering the workplace, the demand of global Financial Wellness Program market is increasing.
Finance will affect the lives of every functional department of the company and every employee. If an employee finances are stretched, it will negatively affect job satisfaction, attitude, and performance. Employees with great financial pressure will miss more job opportunities and pay higher healthcare costs than colleagues. These factors will inevitably damage the company employee engagement and ultimately affect the company profits, especially when financial difficulties affect many employees.
Weakness
Data and technology security issues
The main factor hindering the market is the problems related to data and security, which are caused by the high dependence on technology and data integration. The Financial Wellness Program is connected with the data function and may be the target of various network attacks. Therefore, network security and data protection have become a problem in these Financial Wellness Program.
Newly Sprouted Things
Because Financial Wellness Program is a new thing, it lacks extensive cognition in social existence, and some companies and employees don not know it deeply, so it is not conducive to opening up the market. At present, the Financial Wellness Program is in the early stage of development, lacking mature operation system and relevant standards. It is expected that this will hinder the growth of the market.
Region Overview:
In 2022, the share of the Financial Wellness Program market in North America stood at 50.3%.
Company Overview:
Prudential, Morgan Stanley, Fidelity, Mercer and KeyBank are the five key players in the global Financial Wellness Program market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Financial Wellness Program market in the past 5 years.
Prudential
Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the United States and in over 40 other countries.
Morgan Stanley
Morgan Stanley is a financial services corporation that, through its affiliates and subsidiaries, advises, and originates, trades, manages, and distributes capital for institutions, governments, and individuals. The company operates in three business segments: Institutional Securities, Wealth Management, and Investment Management.
Segmentation Overview:
By type, For Employers segment accounted for the largest share of market in 2022.
Application Overview:
The market's largest segment by application is the segment Large Enterprises, with a market share of 73.78% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Financial Wellness Program industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Financial Wellness Program. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Financial Wellness Program Market Report Include:
Market Size Estimates: Financial Wellness Program market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Financial Wellness Program market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Financial Wellness Program market
Segment Market Analysis: Financial Wellness Program market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Financial Wellness Program market situations and prospects in major and top regions and countries
Financial Wellness Program Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Financial Wellness Program Industry Chain: Financial Wellness Program market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Financial Wellness Program Industry News, Policies by regions
Financial Wellness Program Industry Porters Five Forces Analysis
Key players in the global Financial Wellness Program market are covered in Chapter 2:
PayActiv
Mercer
Prosperity Now
Fidelity
My Secure Advantage (MSA)
Enrich Financial Wellness
Morgan Stanley
Wellable
KeyBank
Health Advocate
Edukate
SmartDollar
Financial Fitness Group
Prudential
In Chapter 6 and Chapter 9, on the basis of types, the Financial Wellness Program market from 2018 to 2028 is primarily split into:
For Employers
For Employees
In Chapter 7 and Chapter 10, on the basis of applications, the Financial Wellness Program market from 2018 to 2028 covers:
Large Enterprises
SMEs
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Financial Wellness Program market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Financial Wellness Program industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Financial Wellness Program market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Financial Wellness Program industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Financial Wellness Program market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Financial Wellness Program market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Financial Wellness Program market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects...
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects including drivers, restraints...
