Global Travel Expense Management Software
Market Report
2024
Global Travel Expense Management Software market was valued at USD 2.89 billion in 2022 and will reach USD 8.07 billion by 2030, registering a CAGR of 13.7% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Travel Expense Management Software market was valued at USD 2.89 billion in 2022 and will reach USD 8.07 billion by 2030, registering a CAGR of 13.7% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Travel Expense Management Software Market Sales Revenue 2022 | $ 2.89 Billion |
Global Travel Expense Management Software Market Sales Revenue 2030 | $ 8.07 Billion |
Global Travel Expense Management Software Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 13.7% |
Market Split by Deployment Type |
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Market Split by Enterprise Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Travel Expense Management Software Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Travel and expense management software is an all-in-one T&E management system that allows tracking travel and expenses under one single platform. With the use of travel and expense management software, businesses may submit, process, reimburse, and report employee expenditures and track and approve the costs incurred by staff members while on business trips. Employees can use a website or a mobile application to submit expenses for approval using the software. Travel and expense management software streamlines and automates the entry of travel expenses for businesses automates review processes, gets rid of paper trails, and lowers administrative burdens.
The surge in the number of smartphones worldwide owing to their huge demand as well as reasonable rate, has led to the growing sum of multi-platform software. This software is developed to work throughout several devices, coordinated with similar data for the users. In this travel and expense management software market, numerous businesses offer smartphone applications with details of tickets, history, users as well as offers. The same businesses offer online services or websites comprising the same features. In addition, many firms are searching for system integrations, mobile app technology, and real-time solutions to help staff complete tasks more quickly and efficiently in light of the development of mobile computing technology, the cloud, and the capacity to connect to corporate systems around the world. One area where there have been significant improvements in corporate efficiency is mobile expenditure management. Mobile expense reporting apps might help employees who travel internationally for work to simplify their expenditure reporting. The usage of mobile devices and expenditure applications has various advantages for both the employee and the company, and it serves as a driver for the expansion of the market for travel and expense management software.
Information about employees, including names and contact information, is stored in an expense management program together with details on their work history and company credit card information. Due to the importance of it to organizations, they are attentive when selecting an expense management solution. Businesses are not very aware of the security of travel and expense management software globally, even though it contains such crucial business data. However, hackers and other cybercriminals utilize phishing, malware, social engineering, and other similar methods to steal data from companies and travel and expense management software As a result, it is anticipated that the market for travel and expense management may restrain its growth.
Numerous supply chain networks and commercial travel were fundamentally affected by the COVID-19 pandemic. While the pandemic was going on, several important businesses were gradually implementing new standards, such as working from home, which expanded the use of e-commerce online streaming services, and cloud computing among other things. Because of the early acceptance of working from home, business travels were initially a significant problem. Due to this, the adoption and use of travel cost management software have been significantly impacted, slightly slowing the market's growth.
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The key players are deploying custom interface applications based on emerging technologies like AI, machine learning, cloud, and others to merge industrial trends and provide specific demands. To boost the product portfolio, these players are investing in strategic collaboration and mergers to implement third-party technologies and increase consumer engagement. They are also acquiring and partnering with distinct industry sectors across the globe to expand their market and discover further geographical markets. For instance, in January 2022, Coupa Software Inc partnered with AirPlus International, a global business travel payment solutions provider, to streamline and centralize business spending across various areas including utilities, travel as well as business resources.
This Coupa Travel and Solution contains software integration to other Coupa offerings like treasury management, invoice, and supply chain design. The company also offered integrations to common third-party ERP and workforce management providers such as SAP and Oracle to meet client requirements.
Navan, the all-in-one travel, corporate card, and expense management solution, announced its partnership with Global Glimpse, a leading nonprofit organization that partners with diverse high schools to provide a powerful travel experience focused on service learning, cultural immersion, and leadership development.
Infor’s India development center is among the company’s two largest locations in the world, with over 3,700 employees in the country. This investment allows Info to continue to pioneer digital technologies such as cloud, mobility, data analytics, artificial intelligence, and IoT to deliver new industry-specific features and functions specialized for industries. This expansion also expanded their footprint and business options in the Asia Pacific region.
Top Companies Market Share in Travel Expense Management Software Industry: (In no particular order of Rank)
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Due to the increasing trend and acceptance of mobile and cloud technologies among businesses as well as the region's growing preference for travel and expenditure management systems, North America held the majority of the global market share for travel expense management software in 2022. Furthermore, as the number of major businesses grows, there is a chance that management software will offer a more convenient way to create expenditure reports and approve reimbursements. Moreover, the rising demand for software across the region as well as the increasing introduction of technological advancements, in turn, is expected to expand the market growth in the region.
The current report Scope analyzes Travel Expense Management Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Travel Expense Management Software Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Travel Expense Management Software Industry growth. Travel Expense Management Software market has been segmented with the help of its Deployment Type, Enterprise Type , and others. Travel Expense Management Software market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
This high share is attributable to many small and medium enterprises integrating the cloud into their organizations. Moreover, this segment enables remote access and virtual bookings that contribute to improving the services. Cloud-based computing allows users to access their applications from many devices at once. On-premise software deployment takes a long time and requires a significant initial expense to set up the infrastructure. But because it can be integrated with other firm activities, the cloud sector offers flexibility and can cut down on administrative work, which is projected to further boost demand for the cloud segment
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The large-scale organization segment has dominated the market as a result of the rise in employee business travel and the extensive use of software in these businesses. Additionally, travel and expense management software is increasingly popular in large organizations because it creates accurate and efficient expenditure reports, streamlines reservations, expedites reimbursements and makes financial reporting easier. This is then anticipated to obtain a sizable profit share, accelerating the expansion of the travel expense management software market.
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Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Travel Expense Management Software Market is witnessing significant growth in the near future.
In 2023, the Cloud-Based segment accounted for noticeable share of global Travel Expense Management Software Market and is projected to experience significant growth in the near future.
The Small and Medium Sized Enterprises (SMEs) segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Apptricity Corp. , SAP SE (Concur) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Deployment Type | Cloud-Based, On-Premises |
Enterprise Type | Small and Medium Sized Enterprises (SMEs), Large Enterprises |
List of Competitors | Apptricity Corp., Oracle Corporation, SAP SE (Concur), Infor Inc., Trippeo Technologies, Ariett, Basware, Expensify, Chrome River Technologies, Coupa Software, Zoho Corporation Pvt. Ltd., TripActions Inc., Amtel, Anishu Inc, CostPocket, ExpenseCube, Others |
This chapter will help you gain GLOBAL Market Analysis of Travel Expense Management Software. Further deep in this chapter, you will be able to review Global Travel Expense Management Software Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Deployment Type Analysis 2019 -2031, will provide market size split by Deployment Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Deployment Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Enterprise Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Travel Expense Management Software market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Cloud-Based have a significant impact on Travel Expense Management Software market? |
What are the key factors affecting the Cloud-Based and On-Premises of Travel Expense Management Software Market? |
What is the CAGR/Growth Rate of Small and Medium Sized Enterprises (SMEs) during the forecast period? |
By type, which segment accounted for largest share of the global Travel Expense Management Software Market? |
Which region is expected to dominate the global Travel Expense Management Software Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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