Travel and Expense Management Software Market size is expected to reach US$ 23.11Bn. by 2029, at a CAGR of 12.25% during the forecast period. The global Travel and Expense Management Software market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Travel and Expense Management Software report also provides trends by market segments, technology, and investment with a competitive landscape.To know about the Research Methodology :- Request Free Sample Report
Definition of Travel and Expense Management Software:
Organizations are using travel and expense management software to monitor and authorize expenditures incurred by workers on business trips, as well as submit, process, refund, and record employee expenses. Receipt monitoring, itemized report formation, and reimbursement automation are all primary benefits of travel and expense management software.Travel and Expense Management Software Market Dynamics:
The adoption of mobile devices such as smartphones, tablets, laptops, and others has increased the usage of many businesses and employees to book tickets online, change their flights, locate their luggage, and send expense sheets from their mobile devices to the enterprises, which is one of the major factors driving the industry. As a result, many businesses are turning to travel and expense management software for easy access through connected devices over the network, which helps them estimate their travel and expense budget. Furthermore, the rise of software-as-a-service accelerated the advancement of travel and expense management software, thus propelling the industry to new heights. Employers may use travel and expense control software to minimize the use of paper and reduce manual and time-consuming activities, which helps to avoid mistakes. By combining travel and expenditure management tools with Enterprise Resource Planning (ERP), Human Capital Management (HCM), and Customer Relationship Management (CRM), management gains a comprehensive view of all expenses. As a result, the program provides administrators with a centralized view of all costs incurred by staff, assisting them in budgeting and policy enforcement. The lack of skilled labor in the travel and expense management software industry, as well as a lack of control over the software, are significant challenges for the market. The risk of losing a user's identity is a major concern when it comes to using travel and expense management software. Border access to travel portals, as well as the increasing adoption of travel and expense management software by small and mid-sized businesses, have created numerous opportunities in the industry.Market Segmentation:
Based on the deployment type, the travel and expense management software market is segmented into cloud-based and on-premise. In 2019, cloud-based deployment held the largest market share. This high percentage can be attributed to the fact that many small and medium businesses have been integrated the cloud into their operations. However, due to a lack of qualified professionals and technological awareness, the cloud-based implementation type is expected to face difficulties during the installation of the cloud-based platform. Similarly, concerns about data privacy and protection are expected to stymie the segment's growth in the industry. Cloud-based computing allows users to access their applications from many devices at once. However, in comparison to cloud systems, the on-premise segment is projected to retain a large share due to factors such as increased protection and lower total cost of ownership.Travel and Expense Management Software Market Regional Insights:
In 2019, North America led the market in terms of share. This can be attributed to the growth and acceptance of cloud technology by businesses. Over the forecast period, the demand for travel and expense management software in the Asia Pacific is expected to develop rapidly. The presence of a large number of small and medium businesses, as well as their growing interest in travel and expense management software, is credited with the region's growth. Additionally, increased business travel in countries such as China, India, and Japan, among others, is expected to boost demand for this software. Furthermore, the availability of applications on cell phones and the increasing introduction of technological advances are due to the increased demand for software in North America and Europe. Meanwhile, machine learning and predictive analytics are expected to fuel growth in the travel and expense management software market in North America. The objective of the report is to present a comprehensive analysis of the Global Travel and Expense Management Software Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. Porter, svor, pestel analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Travel and Expense Management Software Market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players By Deployment Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Travel and Expense Management Software Market make the report investor’s guide.Travel and Expense Management Software Market Scope:Inquire before buying
Travel and Expense Management Software Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 10.29 Bn. Forecast Period 2023 to 2029 CAGR: 12.25% Market Size in 2029: US $ 23.11 Bn. Segments Covered: by Product Cloud Based On-premise by Type Small and Medium Scale Enterprises (SMES) Large Enterprises by Application BFSI Aerospace & Defense Healthcare Public Sector IT & Telecom Retail Other by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Travel and Expense Management Software Market Key Players
1. Apptricity Corp. 2. Basware Corp. 3. DATABASICS Inc. 4. Emburse 5. Expensify Inc. 6. IBM Corp. 7. Infor Inc. 8. Oracle Corp. 9. SAP SE (Concur) 10.Zoho Corporation Pvt Ltd. 11.Chrome River Technologies, Inc. 12.Coupa Software Inc. 13.Infor 14.Concur(SAP) 15.Certify 16.Expensify 17.Sodexo 18.Ariett Business Solutions, Inc. 19.Fraedom UK Limited 20.Insperity Payroll Services, LLC 21.Interplx, Inc. 22.KDS Inc. Frequently Asked Questions: 1. Which region has the largest share in Global Travel and Expense Management Software Market? Ans: North America region held the highest share in 2022. 2. What is the growth rate of Global Travel and Expense Management Software Market? Ans: The Global market is growing at a CAGR of 12.25% during forecasting period 2023-2029. 3. What is scope of the Global Travel and Expense Management Software market report? Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Travel and Expense Management Software market? Ans: The important key players in the Global market are – Apptricity Corp., Basware Corp., DATABASICS Inc., Emburse, Expensify Inc., IBM Corp., Infor Inc., Oracle Corp., SAP SE (Concur), Zoho Corporation Pvt Ltd., Chrome River Technologies, Inc., Coupa Software Inc., Infor, Concur(SAP), Certify, Expensify, Sodexo, Ariett Business Solutions, Inc., Fraedom UK Limited, Insperity Payroll Services, LLC, Interplx, Inc., and KDS Inc. 5. What is the study period of this market? Ans: The Global Travel and Expense Management Software Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Travel and Expense Management Software Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Travel and Expense Management Software Market 3.4. Geographical Snapshot of the Travel and Expense Management Software Market, By Manufacturer share 4. Global Travel and Expense Management Software Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Travel and Expense Management Software Market 5. Supply Side and Demand Side Indicators 6. Global Travel and Expense Management Software Market Analysis and Forecast, 2022-2029 6.1. Global Travel and Expense Management Software Market Size & Y-o-Y Growth Analysis. 7. Global Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 7.1.1. Cloud Based 7.1.2. On-premise 7.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 7.2.1. Small and Medium Scale Enterprises (SMES) 7.2.2. Large Enterprises 7.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 7.3.1. BFSI 7.3.2. Aerospace & Defense 7.3.3. Healthcare 7.3.4. Public Sector 7.3.5. IT & Telecom 7.3.6. Retail 7.3.7. Other 8. Global Travel and Expense Management Software Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 9.1.1. Cloud Based 9.1.2. On-premise 9.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 9.2.1. Small and Medium Scale Enterprises (SMES) 9.2.2. Large Enterprises 9.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 9.3.1. BFSI 9.3.2. Aerospace & Defense 9.3.3. Healthcare 9.3.4. Public Sector 9.3.5. IT & Telecom 9.3.6. Retail 9.3.7. Other 10. North America Travel and Expense Management Software Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 12. Canada Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 13. Mexico Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 14. Europe Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 15. Europe Travel and Expense Management Software Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 17. France Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 18. Germany Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 19. Italy Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 20. Spain Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 21. Sweden Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 22. CIS Countries Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 23. Rest of Europe Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 24. Asia Pacific Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 25. Asia Pacific Travel and Expense Management Software Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 27. India Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 28. Japan Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 29. South Korea Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 30. Australia Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 31. ASEAN Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 32. Rest of Asia Pacific Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 33. Middle East Africa Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 34. Middle East Africa Travel and Expense Management Software Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 36. GCC Countries Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 37. Egypt Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 38. Nigeria Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 39. Rest of ME&A Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 40. South America Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 41. South America Travel and Expense Management Software Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 43. Argentina Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 44. Rest of South America Travel and Expense Management Software Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Deployment Type, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Organization Size, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Industry Verticals, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Travel and Expense Management Software Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. IBM Corp. 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Apptricity Corp. 45.3.3. Basware Corp. 45.3.4. DATABASICS Inc. 45.3.5. Emburse 45.3.6. Expensify Inc. 45.3.7. Infor Inc. 45.3.8. Oracle Corp. 45.3.9. SAP SE (Concur) 45.3.10. Zoho Corporation Pvt Ltd. 45.3.11. Chrome River Technologies, Inc. 45.3.12. Coupa Software Inc. 45.3.13. Infor 45.3.14. Concur(SAP) 45.3.15. Certify 45.3.16. Expensify 45.3.17. Sodexo 45.3.18. Ariett Business Solutions, Inc. 45.3.19. Fraedom UK Limited 45.3.20. Insperity Payroll Services, LLC 45.3.21. Interplx, Inc. 45.3.22. KDS Inc. 46. Primary Key Insights