Travel and Expense Management Software Market
Travel and Expense Management Software Market Size, Share & Trends Analysis Report by Deployment Mode (Cloud-Based, and On-Premises), by Organization Size (Small and Medium Scale, and Large Scale), and by Industry (Manufacturing, Aerospace and Defense, Transportation, Retail and Logistics, Healthcare, Energy, and Others) Forecast Period (2023-2029)
Travel and expense management software market is anticipated to grow at a considerable CAGR of 12.1% during the forecast period. Travel and expense management software is a comprehensive system that can assist in managing and monitoring business travel expenses. Travel and expense management software is essential for companies sending staff on business trips, whether for planning trips, overseeing personnel on the road, or generating expenditure reports. The travel and tourism industry witnessed a dramatic increase over the last decade. Increasing funding to reboot the tourism sector after the COVID-19 pandemic and rising investments, especially from start-ups, drive market growth. According to the National Investment Promotion and Facilitation Agency, India ranked 54th in World Economic Forum’s Travel & Tourism Development Index in 2021, and 100% of FDI in the tourism industry is allowed under automatic route in India.
Segmental Outlook
The global travel and expense management software market is segmented based on deployment mode, organization size, and industry. Based on deployment mode the market is bifurcated into cloud-based, and on-premises. Based on organization size, the market is subdivided into small and medium size, and large scale. Based on industry, the market is categorized into manufacturing, aerospace and defense, transportation, retail and logistics, healthcare, energy, and others. Based on deployment mode, the cloud-based mode segment. Cloud-based services offer numerous benefits to the travel industry, such as assisting in keeping critical data safe through secure and encrypted solutions, firewalls, backup recovery, and redundancy. As travel vendors have to keep credit cards and other personal information on a daily basis.
Based on organization size, the large scale size segment is expected to grow at a favourable rate. This share is attributable to the wide implementation of the software in large-scale organizations owing to the rise in the number of employee business trips. Moreover, the adoption of software has also increased due to the adoption of travel and expense management software in the organization, and automate the manual processes for gaining better ROI. Furthermore, the software helps organizations to move on from traditional methods of managing accounts and offers an automated way to maintain ledgers, by reducing much of the paperwork, and making use of fully automated expense management software.
Regional Outlooks
The global travel and expense management software market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the European region is anticipated to grow at a considerable rate. Factors such as the rise in the number of travellers, the booming travel industry, and rising demand for online booking formats boost market revenues. According to Eurostat, residents aged 15 and above from within the EU made more than 879 million tourism trips in 2021, for personal or business purposes, and the number of trips increased by 23 % compared with 2020.
Global Travel and Expense Management Software Market Growth, by Region 2023-2029
The Asia-Pacific Region Is Expected to Hold a Prominent Share in the Global Travel and Expense Management Software Market
Based on the regional outlook, the Asia-Pacific region has witnessed a prominent market share in the global travel and expense management software market. The growth in the region is mainly driven owing to the rising demand for travel management solutions across various end-user industries, alongside the adoption of mobile booking technology and travel apps, drives the regional market growth. Moreover, newly advent features such as artificial intelligence (AI), offered by key vendors such as MakeMyTrip, Skyjunxion DMCC, and others will further drive the market growth in the region. For instance, in October 2021, Hopper reached its first “fintech” deal with an online travel agency, India’s MakeMyTrip. The new Hopper partnership, has enabled MakeMyTrip to use artificial intelligence from Hopper to dynamically price how much flyers would have to pay to lock a fare for up to seven days, and by making use of this innovative technology, the company provides benefit of smart and prudent flight booking to travelers.
Market Players Outlook
The major companies serving the global travel and expense management software market include Databasics Inc., Emburse, Inc., Expense8, G2.Com, Inc., Infor and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022, Soldo announced its partnership with TravelPerk. The partnership allows for an increasingly connected travel management experience. The integration gives customers the ability to sync invoices from TravelPerk into the Soldo platform for travel spending made using a Soldo card. As a result, customers see reduced manual work, time saved and enriched insights and data within the Soldo platform.
The Report Covers
- Market value data analysis of 2021 and forecast to 2029.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global travel and expense management software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
1.1. Key Company Analysis
3.1. Oracle Inc.
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Travel and Expense Management Software Market by Deployment Mode
4.1.1. Cloud-Based
4.1.2. On-Premises
4.2. Global Travel and Expense Management Software Market by Organization Size
4.2.1. Small and Medium Scale
4.2.2. Large Scale
4.3. Global Travel and Expense Management Software Market by Industry
4.3.1. Manufacturing
4.3.2. Aerospace and Defense
4.3.3. Transportation
4.3.4. Retail and Logistics
4.3.5. Healthcare
4.3.6. Energy
4.3.7. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Basware Corp.
6.2. Concur Technologies, Inc.
6.3. Costpocket Oü
6.4. Coupa Software Inc.
6.5. Crm travel
6.6. Databasics Inc.
6.7. Emburse, Inc.
6.8. Expense8.
6.9. G2.Com, Inc.
6.10. Infor
6.11. Ovation Travel, Llc
6.12. Serko Ltd.
6.13. Skyjunxion Dmcc
6.14. Vv Finly Technology Pvt. Ltd.
6.15. Wsg Systems Corp.
6.16. Zoho Corporation Pvt. Ltd.
1. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2029 ($ MILLION)
2. GLOBAL CLOUD-BASED TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
3. GLOBAL ON-PREMISES TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
4. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
5. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR SMALL AND MEDIUM-SCALE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
6. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE LARGE-SCALE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
7. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2029 ($ MILLION)
8. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
9. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR AEROSPACE AND DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
10. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
11. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR RETAIL AND LOGISTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
12. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
13. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
14. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
15. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2029 ($ MILLION)
16. NORTH AMERICAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
17. NORTH AMERICAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2029 ($ MILLION)
18. NORTH AMERICAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
19. NORTH AMERICAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2029 ($ MILLION)
20. EUROPEAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
21. EUROPEAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2029 ($ MILLION)
22. EUROPEAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
23. EUROPEAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2029 ($ MILLION)
24. ASIA-PACIFIC TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
25. ASIA-PACIFIC TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2029 ($ MILLION)
26. ASIA-PACIFIC TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
27. ASIA-PACIFIC TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2029 ($ MILLION)
28. REST OF THE WORLD TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
29. REST OF THE WORLD TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2029 ($ MILLION)
30. REST OF THE WORLD TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
31. REST OF THE WORLD TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2029 ($ MILLION)
1. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE BY DEPLOYMENT MODE, 2021 VS 2029 (%)
2. GLOBAL CLOUD-BASED TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
3. GLOBAL ON-PREMISES TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
4. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE BY ORGANIZATION SIZE, 2021 VS 2029 (%)
5. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR SMALL AND MEDIUM-SCALE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
6. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR LARGE-SCALE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
7. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE BY INDUSTRY, 2021 VS 2029 (%)
8. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR MANUFACTURING RESEARCH MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
9. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR AEROSPACE AND DEFENSE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
10. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR TRANSPORTATION MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
11. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR RETAIL AND LOGISTICS MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
12. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR HEALTHCARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
13. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR ENERGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
14. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE FOR OTHERS SIZE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
15. GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2029 (%)
16. US TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
17. CANADA TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
18. UK TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
19. FRANCE TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
20. GERMANY TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
21. ITALY TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
22. SPAIN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
23. REST OF EUROPE TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
24. INDIA TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
25. CHINA TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
26. JAPAN TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
27. SOUTH KOREA TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
28. REST OF ASIA-PACIFIC TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
29. REST OF THE WORLD TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SIZE, 2021-2029 ($ MILLION)
