Employee Benefits Procurement Intelligence expected to grow at a CAGR of 4.5% from 2024 to 2030
Employee Benefits Procurement Intelligence The employee benefits category is expected to grow at a CAGR of 4.5% from 2024 to 2030. North America accounts for the largest share of the category. The increased competition among employers to hire and retain talent along with increasing focus on maintaining work-life balance among employees are driving category growth. Major corporations are employing various strategies, such as mergers and acquisitions, strategic partnerships and contracts, and the development, testing, and release of new products. For instance, in August 2023, TA Associates and Warburg Pincus to expand its role as a pan-European leader in digital employee benefits solutions purchased Epassi Group, a provider of employee benefits. Companies often provide employees with lunch and breakfast coupons so they may easily purchase meal packages. Employee meal cards will be in demand because of this aspect. Additionally, the prevalence of job-hopping is rising, which ...