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USD 2.90 Bn growth expected in Travel and Expense Management Software Market -- Driven by increasing mobile workforce

·13 min read

NEW YORK, Sept. 8, 2022 /PRNewswire/ -- The "Travel and Expense Management Software Market by Deployment and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 2.90 billion, accelerating at a CAGR of 10.79% during the forecast period. The report considers various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here

Technavio has announced its latest market research report titled Travel and Expense Management Software Market by Deployment and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Travel and Expense Management Software Market by Deployment and Geography - Forecast and Analysis 2022-2026

The global travel and expense management software market is fragmented because of the presence of a significant number of large- to small-scale vendors. Key vendors hold significant shares of the market. They have strong financial capabilities and expertise to offer high-quality services. Small-scale vendors compete with established vendors by using low-pricing strategies and strengthening the local customer base. Moreover, the adoption of various technologies such as AI and others by the vendors and the advancement of travel and expense management software will intensify the competition among vendors during the forecast period.

The report identifies Apptricity, AvidXchange Inc., Basware Corp., Coupa Software Inc., DATABASICS Inc., Emburse Inc., Expense8, Expensify Inc., Finly Technology Pvt. Ltd., Fyle Technologies Pvt. Ltd., General Data Pvt. Ltd., Infor Inc., International Business Machines Corp., JSM Technologies Pvt. Ltd., Oracle Corp., Paychex Inc., SAP SE, VA Tech Ventures Pvt Ltd., and Zoho Corp. Pvt. Ltd. as some of the major market participants.

Although the increasing mobile workforce will offer immense growth opportunities, the growing threat from open-source travel and expense management solutions will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request Sample Report Here

The global travel and expense management software market is segmented as below:

  • Deployment

The on-premises segment will have the largest share of the market through the forecast period. On-premises solutions provide complete control and allow enterprises to customize travel and expense management software according to their requirements. This is the key factor driving the growth of the segment.

  • Geography

North America will emerge as the key market, occupying 30% of the global market share. The increasing implementation of travel and expense management software by enterprises to smoothen their reimbursement process is driving the growth of the regional market. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our travel and expense management software market report covers the following areas:

Travel and Expense Management Software Market 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the travel and expense management software market, including some of the dominant vendors. Backed with competitive intelligence and benchmarking, our research report on the travel and expense management software market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Travel and Expense Management Software Market 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026

  • Detailed information on factors that will assist travel and expense management software market growth during the next five years

  • Estimation of the travel and expense management software market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the travel and expense management software market

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of travel and expense management software market vendors

Related Reports:

Travel and Expense Management Software Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.79%

Market growth 2022-2026

$ 2.90 billion

Market structure

Fragmented

YoY growth (%)

9.52

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key consumer countries

US, China, India, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Apptricity, AvidXchange Inc., Basware Corp., Coupa Software Inc., DATABASICS Inc., Emburse Inc., Expense8, Expensify Inc., Finly Technology Pvt. Ltd., Fyle Technologies Pvt. Ltd., General Data Pvt. Ltd., Infor Inc., International Business Machines Corp., JSM Technologies Pvt. Ltd., Oracle Corp., Paychex Inc., SAP SE, VA Tech Ventures Pvt Ltd., and Zoho Corp. Pvt. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents :

1 Executive Summary

  • 1.1 Market Overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Deployment

  • 5.1 Market segments

  • 5.2 Comparison by Deployment

  • 5.3 On-premises - Market size and forecast 2021-2026

  • 5.4 SaaS-based - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Deployment

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 APAC - Market size and forecast 2021-2026

  • 7.6 South America - Market size and forecast 2021-2026

  • 7.7 Middle East and Africa - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 UK - Market size and forecast 2021-2026

  • 7.11 Germany - Market size and forecast 2021-2026

  • 7.12 India - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Apptricity

  • 10.4 Basware Corp.

  • 10.5 DATABASICS Inc.

  • 10.6 Emburse Inc.

  • 10.7 Expensify Inc.

  • 10.8 Infor Inc.

  • 10.9 International Business Machines Corp.

  • 10.10 Oracle Corp.

  • 10.11 SAP SE

  • 10.12 Zoho Corp. Pvt. Ltd.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
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Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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