Global Corporate Wellness Software Market
Global Corporate Wellness Software Market Size By Type, By Application, By Geographic Scope And Forecast
According to Verified Market Research, The Global Corporate Wellness Software Market was valued at USD 409.50 Million in 2018 and is projected to reach USD 714.31 Million by 2026, growing at a CAGR of 7.37% from 2019 to 2026.
Employee wellness programs have become a staple in many corporations to keep employees happy, decrease employee turnover and attract new talent in the organization. Corporate wellness software enables organizations to administer, organize, and manage various wellness programs. The solution aims to change the work culture towards health by creating a social support system for employees. The wellness programs are designed to encourage and support employee wellbeing in the organization. The corporate wellness program offers various solutions such as healthy habits among employee & improve health outcomes, boosting employee engagement, and increase the productivity of employees in the workplace.
Corporate Wellness of the employees has become one of the primary focus of the companies. As the wellness industry is growing, increasing insight, data and technology are encouraging employees to stay healthy and shape the future of corporate wellness programs. Hence, the increasing adoption of employee wellness programs across organizations is one of the key factors driving the growth of the market during the forecast period. Moreover, the growing prevalence of chronic diseases across the globe is boosting the overall corporate wellness software market growth. Also, in order to reduce expenditure, employers are focusing on designing wellness programs that target chronic diseases and which can be easily addressable.
However, few of the main reasons why employees are pushing against such programs are lack of confidence of employer’s ability to run an effective program, doubt about the programs being helpful, and privacy concerns. these factors are leading to the slow adoption of corporate wellness software, which is expected to hinder the overall growth of the market.
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