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Pension Administration Software Market to reach USD 8.68 Bn by 2029 at a growth rate of 12.1 percent over the forecast period

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Dublin, May 03, 2023 (GLOBE NEWSWIRE) — Maximize Market research, a global Information Technology & Telecommunication market research firm, has published competitive intelligence and market research report on “Pension Administration Software Market“. The Pension Administration Software market size was valued at USD 4.37 Bn in 2022. The total Pension Administration Software Market revenue is expected to grow at a CAGR of 12.1 percent from 2022 to 2029, reaching USD 8.68 Bn during the forecast period.

Market Size in 2022 USD 4.37 Bn
Market Size in 2029 USD 8.68 Bn
CAGR 12.1 percent (2023-2029)
Forecast Period 2023-2029
Base Year 2022
Number of Pages 262
No. of Tables 124
No. of Charts and Figures 130
Segment Covered By Component, Offering, Type, Enterprise size, and End User
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Pension Administration Software Market Scope and Research Methodology

The report is a detailed analysis of the Pension Administration Software Market covering all the major aspects such as segments, country-wise, and region-wise. For a better understanding of Pension Administration Software Industry penetration, competitive structure, pricing analysis, and demand analysis of the market are undertaken at the local, regional and global levels.

Major companies are mentioned by region, along with their revenue, portfolio, developments, mergers & acquisitions, and strategic alliances, for competitive analysis of the Pension Administration Software Market. Growth potential and business forecast for new market entrants are provided in the Pension Administration Software Market report.

Pension Administration Software Market is segmented based on Component, Offering, Type, Enterprise size, and End User to understand the variables and impact on the market growth. Bottom-up approach was used to estimate the Pension Administration Software market size. The primary and secondary methods were used to collect data from the Pension Administration Software market. SWOT analysis was conducted to provide the strengths and weaknesses of the Pension Administration Software market.

Pension Administration Software Market Overview

The software is a robust system, used to handle multi-organization unit pensioners with pension rules and schemes. Pension Administration Software handles pension insurance policies day-to-day. The functions of pension administrator software are to handle, maintain, and invest the pension funds according to terms and conditions.

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Increasing demand for automation to boost the Pension Administration Software Market

Growing numbers of pension plans, need for automation, and efficient management of pension plan is expected to boost the market growth over the forecast period. The software provides automated solutions that streamline the process and ensure accuracy, efficiency, and compliance. It helps companies to stay compliant with all regulations, with reduced risk of penalties and other legal issues. Demography changes as the population ages is expected to fuel the demand for Pension Administration Software.

Concern about Data security and privacy is expected to restrain the Pension Administration Software Market growth. Cost of implementing and maintaining pension administration software is expected to limit market growth.

Challenges in Pension Administration Software Market

  • Growing Structural Complexity
  • Changing Roles for Administrative Staff
  • New Customer Engagement Demands
  • Ineffective Legacy Technology

North America region to boost the Pension Administration Software Market over the forecast period

North America region dominated the market in 2022 and is expected to continue the dominance over the forecast period. Mature and well-established market, with high adoption rate of companies and organizations is expected to boost the regional Pension Administration Software Market growth. United States, Canada, and Mexico are major contributors for the growth of market. Increasing adoption of cloud-based Pension Administration Software solutions with flexibility and scalability is significantly contributing for the market growth over the forecast period. Rising number of retirees and the need for efficient management of pension plan benefits is expected to influence the regional market growth.

Increasing adoption of digital technologies, rising number of retirees, and need for efficient and effective management in Asia Pacific is expected to boost the regional Pension Administration Software Market growth.

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Pension Administration Software Market Segmentation

Based on Component, the Solution segment dominated the Pension Administration Software Market in 2022 and is expected to continue the dominance over the forecast period. The segment helps to improve the productivity and cut costs by automation of numerous manual processes. Software helps government bodies to provide more transparency and accountability and is expected to boost the solution segment growth in the market.

Based on Offering, on-premises segment held the largest market share in terms of revenue in 2022 and dominated the market and is expected to continue the dominance over the forecast period. Segment provides enterprises control over software installation and is expected to boost the market growth.

By Component:

  • Software
  • Solution

By Offering:

  • Cloud-Based
  • On-Premise

By Type:

  • Public Pension
  • Private Pension

By Enterprise size:

  • SMEs
  • Large Enterprises
  • Government

By End User:

  • Employers
  • Pension Plan Administrators
  • Government Agencies
  • Credit Unions
  • Financial Institutes

Pension Administration Software market Key Players include

  • Appian
  • SoftwareReviews
  • Oracle
  • Capita
  • Civica
  • Equiniti
  • Version Systems
  • L&P Systems
  • Vitech Systems
  • Congruent Solutions
  • Sagitec Solutions
  • Levi, Ray & Shoup Inc.
  • TatvaSoft Software Development Company
  • Zellis
  • Heywood Limited
  • Milliman
  • Exaxe
  • SAP
  • Businessolver
  • Alight Solutions
  • Systech
  • Dunstan Thomas
  • Sapiens
  • UniQue Solutions International Limited
  • Ortec Finance
  • Pension Technology Group
  • Pension Management Institute
  • Exelerating platform
  • TELUS Health (formerly LifeWorks)
  • Barnett Waddingham

Get the Sample PDF of Report: https://www.maximizemarketresearch.com/request-sample/186952

Key questions answered in the Pension Administration Software Market are:

  • What are Pension Administration Software Market?
  • What was the Pension Administration Software market size in 2022?
  • What is the expected Pension Administration Software market size by 2029?
  • What is the growth rate of the Pension Administration Software Market?
  • Which are the factors expected to drive the Pension Administration Software market growth?
  • Which segment dominated the Pension Administration Software market growth?
  • What is the demand pattern for the Pension Administration Software market?
  • Which region held the largest share in the Pension Administration Software market?
  • Who are the key players in the Pension Administration Software market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Component, Offering, Type, Enterprise size, End User and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:

Healthcare Human Resources (HR) Software Market: The total market size is expected to reach USD 2.37 Bn by 2029, at a CAGR of 4 percent throughout the forecast period. The increase in the automation of HR processes is expected to boost the market growth.

Software Quality Assurance Market: The total market size was value to reach USD 20.21 Bn by 2029 and it is expected to grow at the CAGR of 9.6 percent over the forecast period. Focus on improving the process of development of software is expected to boost the market growth.

Print Management Software Market: The total market size is expected to reach USD 8.80 Bn by 2029 and Print Management Software Market is estimated to grow at a CAGR of 19.2 percent over the forecast period. The increased price of papers, printing, laser, and ink for businesses all over the world is expected to boost the market growth.

Yacht Management Software Market: The total market size was valued at USD 750 Mn in 2022 and is expected to reach USD 1947 Mn by 2029, at a CAGR of 14.6 percent. Advancements in technology, such as the use of artificial intelligence, machine learning, and predictive analytics is expected to boost the market growth.

Database Monitoring Software Market: The total market size was valued at USD 3.4 Bn in 2022 and is expected to reach USD 6 Bn by 2029, at a CAGR of 14.9 percent over the forecast period (2023-2029). Deployment of cloud computing technologies in the industries is expected to boost the market growth.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

TRON Forum collaborates with four major microcontroller manufacturers to hold TRON Programming Contest Using World-Standard Real-Time OS with 5 million JP YEN cash prize

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TOKYO, March 29, 2024 /PRNewswire/ — TRON Forum (Chair: Ken Sakamura, Professor Emeritus of the University of Tokyo) is pleased to announce that four microcontroller manufacturers, Infineon Technologies Japan K.K. (President & CEO: Ikuya Kawasaki), STMicroelectronics K.K. (Country Manager for Japan: Koichiro Takakuwa), NXP Japan K.K. (President & CEO: Masayuki Wajima), and Renesas Electronics Corporation (President & CEO: Hidetoshi Shibata) have collaborated with the Forum to hold TRON Programming Contest from Monday, December 11, 2023 jointly. The initial registration is being accepted now.

This contest is for engineers and students in Japan and overseas to compete in various  fields such as microcontroller applications, middleware, development environments, and tools using a member of TRON real-time OS (RTOS) family, “μT-Kernel 3.0” (*), which is a global standard of small-scale embedded computer systems.
(*) μT-Kernel 3.0 is an RTOS that fully complies with the real-time OS standard “IEEE 2050-2018” (IEEE Standard for a Real-Time Operating System (RTOS) for Small-Scale Embedded Systems) and runs on microcontrollers from various manufacturers.
Using the latest microcomputer boards provided by the manufacturers, contestants will compete in technologies that bring out the characteristics of RTOSs such as real-time performance, power saving, and small memory footprint, as well as development environments and tools that utilize new technologies.
The details of the contest with the total amount of cash prize, five million Japanese yen are at the following URL: https://www.tron.org/programming_contest/
About TRON Forum
TRON Forum was established in 2002 to promote TRON Project. We have been actively conducting activities centered on the T-Engine project, which prepares the development environment for embedded systems, and the operation of Ubiquitous ID Centers such as ucode.
In May 2015, Chair Sakamura received the ITU 150th Anniversary Award together with Bill Gates and others for his advocacy of open architecture TRON, which is the origin of ubiquitous networking and the IoT.
One member of the TRON RTOS family has been adopted as an international standard for real-time operating systems (RTOS) for small-scale embedded systems as 2050-2018 by Institute of Electrical and Electronics Engineers (IEEE), the world’s largest association of its kind and an international standardization organization. In 2023, the project leader, Chair Sakamura, received the IEEE Masaru Ibuka Consumer Technology Award from the IEEE in honor of the late Mr. Ibuka. In addition, the TRON RTOS family received the IEEE Milestone recognition in 2023.
URL: https://www.tron.org 
 
 

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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