Corporate Wellness Platforms Market Scope
A corporate wellness platforms is a web-based technology that can host many programs used to evaluate, engage, inform, motivate, and incentivize employees based on the wellness strategy. The platform should be API-compatible with the ability to mix with third-party vendors. The platforms give the capability to add programs beyond the vendor-established program offering design of a wellness portal. It offers a flexible design that enables users to configure it to meet the needs of populations, benefits strategy, organization, and wellness.
The Corporate Wellness Platforms market study is segmented and major geographies with country level break-up.
The Corporate Wellness Platforms Market is fragmented by various players. The players are investing in new platform launches to improve users' experience in wellness platforms. Also, they focus on merger and acquisition activities to enhance reward options.
Wellable (United States), Sprout (Canada), Virgin Pulse (United States), Sonic Boom Wellness (United States), Everyone Wellness Pte Ltd. (Australia), Tictrac (United Kingdom), Wellspace (United Kingdom), PAM Life (United Kingdom) and Welbot (United Kingdom) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Corporate Wellness Platforms market by Type, Application and Region.
On the basis of geography, the market of Corporate Wellness Platforms has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2020, Wellable has announced the partnership with ThrivePass, an innovator of the Thrive Account, formerly known as the Wellness Savings Account (WSA). The partnership will provide Wellable access to improved reward options and provide ThrivePass with a wellness technology platform to track healthy behaviors.
In 2020, Sprout has introduced its new corporate wellness platform named 3.0. With the new launch, Sproutís provides users with an improved user experience designed to meet the rising demand for online workplace wellbeing solutions.
According to the Internal Revenue Service (IRS), all wellness programs are not non-taxable to employees. If a reward is a valid medical expense for the diagnosis, cure, mitigation, treatment, or prevention of disease, or to affect any structure or function of the body, an employee may not have to pay tax on the value of the reward.
- Need for the Wellness Platform in for the Employees Health
- Increasing Application of Corporate Wellness Platforms Reduce Health Care Costs, Augment Productivity and Increase Employee Retention
- Rising Implementation of Corporate Wellness Platforms in Corporate Sector can create Opportunities for the Market Growth
- High Cost Associated with the Corporate Wellness Platforms
- Government Compliances on the Wellness Programs
Key Target Audience
Corporate Wellness Platforms Developers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
Frequently Asked Questions (FAQ):1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.2. How big is the Corporate Wellness Platforms Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.