Employee Benefit Broker Market Is Expected To Reach $ 61.37 Billion By 2030


 San Francisco, 13 March 2024: The Report Employee Benefit Broker Market Size, Share & Trends Analysis Report By Benefit Type, By Application (Healthcare, IT & Telecom), By Region, And Segment Forecasts, 2024 - 2030

The global employee benefit broker market size is anticipated to reach USD 61.37 billion by 2030 and is anticipated to expand at a CAGR of 5.5% during the forecast period, according to a new report by Grand View Research, Inc. The growth of the employee benefits broker market can be attributed to grabbing the top talents in the industry. The perfect employee benefits package can help employers attract and retain their employees. Furthermore, these benefits make an employer stand out from the competition and eventually drive overall business growth.

The market growth is propelled by continuous technological advancements, particularly in the IT industry. Furthermore, the development of employee benefits platforms enabling employees to better communicate with HR professionals is driving the market’s growth. In addition, the remote work culture and increased focus on work-life balance are anticipated to drive the market’s growth.

The global pandemic had a slight positive impact on the growth of the market. As employers navigate the challenges of the pandemic and beyond, the market continues to grow, reflecting the commitment of organizations to support their employees in an ever-changing work landscape. Furthermore, employers, understanding the profound impact of the pandemic on their workforce, have adapted their benefit packages to accommodate the evolving needs of employees.

Access Research Report of Employee Benefit Broker Market @ https://www.grandviewresearch.com/industry-analysis/employee-benefit-broker-market-report

Employee Benefit Broker Market Report Highlights

  • The healthcare insurancesegment dominated the market in 2023. The segment's growth can be attributed to the increasing demand for healthcare insurance post the COVID-19 pandemic globally

  • The IT & telecom segment dominated the market in 2023. IT professionals across the globe are well-paid and expect their employers to provide perks and employee benefits
  • The North American region dominated the market in 2023. The presence of prominent market players and the rising demand for employee benefits by employees across the region is anticipated to fuel regional growth
  • The rising launches of various programs and products related to employee benefits are anticipated to fuel the growth of the market. For instance, in July 2023, City of San Diego's introduced an employee benefit program to help with childcare costs. This program was aimed at supporting the City of San Diego's workforce with a childcare benefit program

Employee Benefit Broker Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 44.53 billion

Revenue forecast in 2030

USD 61.37 billion

Growth rate

CAGR of 5.5% from 2024 to 2030

Base year of estimation

2023

Historical data

2017 - 2022

Forecast period

2024 - 2030

List of Key Players in the Employee Benefit Broker Market

  • AON
  • Marsh & McLennan
  • Willis Towers Watson
  • Arthur J. Gallagher
  • NFP
  • Hub International
  • USI
  • Lockton
  • Brown & Brown
  • OneDigital Health and Benefits

Access Press Release of Employee Benefit Broker Market @ https://www.grandviewresearch.com/press-release/global-employee-benefit-broker-market

 

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