Global Financial Wellness Program market will reach 2580 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/10/24

Financial Wellness Program is solutions that can help companies provide their employees with financial management education, including planning, budgeting, and alleviating financial stress. And the Financial Wellness Program can be classified to For Employers and For Employees types, and the For Employers type is leading the growing market at present.

Financial Wellness Program is mainly used for two applications: Large Enterprises and SMEs. And Large Enterprises was the most widely used area which took up about 89% of the global total in 2018.

The global Financial Wellness Program average pricing is influenced by the global trend because of competition and downstream cost controlling. The average price will be in decline trend if more vendors go into operation in the future. The Financial Wellness Program sales will reach about 1498 Million USD in 2019 from 978 Million USD in 2014 all around the world.

United States is the largest consumption countries of Financial Wellness Program in the world in the past few years and it will keep increasing in the next few years. United States market took up about 85.7% the global market in 2018, while Europe was about 6%.

Financial Wellness Program is used to designed for large enterprises such as Fortune 100 companies at one-by-one financial services, but these years, with the developing of digital tech, more and more employers and employees put attention on financial wellness program, to improve the enhance job attraction, keep the talents and relieve the financial stress. So there are many types of players entered into this industry, such as large financial services and banks player Morgan Stanley, insurance companies such as Prudential, FinTech companies such as PayActiv and SmartDollar, nonprofit agencies like Prosperity Now and credit unions like Bridge Credit Union. At the same time, these players noticed more on the employees’ type product and some of them focus on the small and middle enterprises, while used in the mobile is another trend of this industry.

There are above 300 providers in Financial Wellness Program industry, among them, Mercer, Fidelity, Prudential, Morgan Stanley, KeyBank, Health Advocate, My Secure Advantage (MSA), Financial Fitness Group, PayActiv etc. are the key players in the global Financial Wellness Program market. Top 5 took up about 47% of the global market in 2018. Mercer, Fidelity, Prudential, Morgan Stanley, which have leading technology and market position, are well-known suppliers around the world.

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