Employee Benefit Broker Trends and Forecast
The future of the global employee benefit broker market looks promising with opportunities in the healthcare, IT & telecom, manufacturing, and retail markets. The global employee benefit broker market is expected to reach an estimated $57.5 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are technological developments in digitization across industries and fast internet, as well as, insurance companiesÄX%$%X and employersÄX%$%X need to manage the intricacies of the constantly changing legislation pertaining to employee benefits.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Employee Benefit Broker by Segment
The study includes a forecast for the global employee benefit broker by benefit type, application, and region.
Employee Benefit Broker Market by Benefit Type [Shipment Analysis by Value from 2018 to 2030]:
• Healthcare Insurance
• Retirement Savings Plan
• International Benefits
• Others
Employee Benefit Broker Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Others
Employee Benefit Broker Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Employee Benefit Broker Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies employee benefit broker companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the employee benefit broker companies profiled in this report include-
• AON
• Marsh & McLennan
• Willis Towers Watson
• Arthur J. Gallagher
• NFP
• Hub International
• USI
• Lockton
• Brown & Brown
• OneDigital Health and Benefits
Employee Benefit Broker Market Insights
Lucintel forecasts that healthcare insurance will remain the largest segment over the forecast period due to the rising demand for healthcare insurance from both employers and workers as a core benefit type in their benefit packages.
Within this market, IT & telecom will remain the largest segment due to increasing demand for tech talent has pushed businesses to provide enticing rewards to attract and retain smart people.
North America will remain the largest region over the forecast period due to extremely competitive labor market, particularly in fields like technology and finance, organizations compete for top-tier talent by offering enticing benefit programs.
Features of the Global Employee Benefit Broker Market
Market Size Estimates: Employee benefit broker market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Employee benefit broker market size by benefit type, application, and region in terms of value ($B).
Regional Analysis: Employee benefit broker market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different benefit type, application, and regions for the employee benefit broker market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the employee benefit broker market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the employee benefit broker market size?
Answer: The global employee benefit broker market is expected to reach an estimated $57.5 billion by 2030.
Q2. What is the growth forecast for employee benefit broker market?
Answer: The global employee benefit broker market is expected to grow with a CAGR of 5.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the employee benefit broker market?
Answer: The major drivers for this market are technological developments in digitization across industries and fast internet, as well as, insurance companiesÄX%$%X and employersÄX%$%X need to manage the intricacies of the constantly changing legislation pertaining to employee benefits.
Q4. What are the major segments for employee benefit broker market?
Answer: The future of the global employee benefit broker market looks promising with opportunities in the healthcare, IT & telecom, manufacturing, and retail markets.
Q5. Who are the key employee benefit broker market companies?
Answer: Some of the key employee benefit broker companies are as follows:
• AON
• Marsh & McLennan
• Willis Towers Watson
• Arthur J. Gallagher
• NFP
• Hub International
• USI
• Lockton
• Brown & Brown
• OneDigital Health and Benefits
Q6. Which employee benefit broker market segment will be the largest in future?
Answer: Lucintel forecasts that healthcare insurance will remain the largest segment over the forecast period due to the rising demand for healthcare insurance from both employers and workers as a core benefit type in their benefit packages.
Q7. In employee benefit broker market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to extremely competitive labor market, particularly in fields like technology and finance, organizations compete for top-tier talent by offering enticing benefit programs.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the employee benefit broker market by benefit type (healthcare insurance, retirement savings plan, international benefits, and others), application (healthcare, IT & telecom, manufacturing, retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Employee Benefit Broker Market, Employee Benefit Broker Market Size, Employee Benefit Broker Market Growth, Employee Benefit Broker Market Analysis, Employee Benefit Broker Market Report, Employee Benefit Broker Market Share, Employee Benefit Broker Market Trends, Employee Benefit Broker Market Forecast, Employee Benefit Broker Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.