Market Overview:
The global travel and expense software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing adoption of cloud-based and web-based solutions by enterprises, small and medium businesses (SMEs), and individual users. Additionally, the growing demand for mobile applications for travel and expense management is also contributing to the growth of this market. North America is expected to lead the global travel and expense software market during the forecast period, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Travel & Expense Software is used to manage and track company travel and expense data. It can help businesses save time and money by automating the process of tracking expenses.
Cloud Based:
Cloud-based software is a type of software system that enables the central management of data and applications across multiple platforms. It offers benefits such as easy accessibility, cost efficiency, flexibility & scalability and real-time information sharing which are expected to drive the cloud based travel & expense software market over the forecast period. The development of next generation mobile applications coupled with increasing use of smartphones for bookings has resulted in increased adoption rate for these solutions among end users.
Web Based:
The global web-based software is used in the travel and expense management system. It helps to create, edit, review and print the reports as well as to manage customers and vendors database. The software can be accessed from any location through a internet connection.
It offers various benefits such as it reduces manual efforts for entering data into different systems resulting into less human errors which further improves productivity of employees., it also helps in improving customer experience by delivering accurate information.
Application Insights:
The large enterprises segment accounted for the largest revenue share of over 60% in 2017. The segment is expected to continue its dominance over the forecast period owing to factors such as extensive usage of accounting software by large organizations and high penetration of electronic receipts. Furthermore, companies such as Expedia, Inc., Travelocity Global GmbH and Priceline Group, Inc. are expanding their operations across various regions which will drive the demand further. For instance, in July 2018, Expedia announced about acquiring CheapAir LLC; a U.S.
The SMEs segment is expected to register a significant CAGR during the forecast period owing to increasing adoption of expense management solutions by small businesses.
Regional Analysis:
The Asia Pacific region is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing working capital management and budgeting processes in organizations of all sizes and types across numerous industries in this region. Additionally, an increase in travel activities by individuals for business purposes has led to a rise in demand for expense software applications that would help them manage their expenses while traveling out of office. This factor is also expected to drive growth over the next eight years.
North America accounted for more than 25% revenue share within the global market space, owing to its well-established businesses across various industry verticals including IT services & support; BFSI; healthcare; telecom & media; legal services among others who require advanced accounting solutions on a day-to-day basis for reporting purposes as well as tax returns preparation at each level of organization from top down through middle management down through staff levels ensuring compliance with government regulations.
Growth Factors:
- Increasing demand for automation in T&E processes to improve efficiency and reduce costs
- Proliferation of mobile devices and apps that make capturing expenses easier and more convenient for travelers
- The need to control spending in the current economy has organizations looking for better ways to manage their T&E expenses
- Increased compliance requirements from government agencies and private organizations are driving the need for more sophisticated T&E software solutions
- Growing popularity of cloud-based solutions that offer flexibility, scalability, and cost-effectiveness
Scope Of The Report
Report Attributes
Report Details
Report Title
Travel & Expense Software Market Research Report
By Type
Cloud Based, Web Based
By Application
Large Enterprises, SMEs
By Companies
SAP Concur, TripActions, TravelPerk, Lola.com, Rydoo, Certify, TravelBank, Egencia, Expensify, Zoho Expense, Abacus, Receipt Bank, Paylocity, Pleo, BigTime, Workday HCM
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
208
Number of Tables & Figures
146
Customization Available
Yes, the report can be customized as per your need.
Global Travel & Expense Software Market Report Segments:
The global Travel & Expense Software market is segmented on the basis of:
Types
Cloud Based, Web Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SAP Concur
- TripActions
- TravelPerk
- Lola.com
- Rydoo
- Certify
- TravelBank
- Egencia
- Expensify
- Zoho Expense
- Abacus
- Receipt Bank
- Paylocity
- Pleo
- BigTime
- Workday HCM
Highlights of The Travel & Expense Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Based
- Web Based
- By Application:
- Large Enterprises
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Travel & Expense Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Travel & Expense Software is a software application that helps users manage their travel and expense expenses. It allows users to track their spending, plan trips, and keep track of receipts.
Some of the major companies in the travel & expense software market are SAP Concur, TripActions, TravelPerk, Lola.com, Rydoo, Certify, TravelBank, Egencia, Expensify, Zoho Expense, Abacus, Receipt Bank, Paylocity, Pleo, BigTime, Workday HCM.
The travel & expense software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Travel & Expense Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Travel & Expense Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Travel & Expense Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Travel & Expense Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Travel & Expense Software Market Size & Forecast, 2018-2028
4.5.1 Travel & Expense Software Market Size and Y-o-Y Growth
4.5.2 Travel & Expense Software Market Absolute $ Opportunity
Chapter 5 Global Travel & Expense Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Travel & Expense Software Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 Web Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Travel & Expense Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Travel & Expense Software Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Travel & Expense Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Travel & Expense Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Travel & Expense Software Analysis and Forecast
9.1 Introduction
9.2 North America Travel & Expense Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Travel & Expense Software Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 Web Based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Travel & Expense Software Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Travel & Expense Software Analysis and Forecast
10.1 Introduction
10.2 Europe Travel & Expense Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Travel & Expense Software Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 Web Based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Travel & Expense Software Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Travel & Expense Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Travel & Expense Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Travel & Expense Software Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 Web Based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Travel & Expense Software Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Travel & Expense Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Travel & Expense Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Travel & Expense Software Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 Web Based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Travel & Expense Software Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Travel & Expense Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Travel & Expense Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Travel & Expense Software Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 Web Based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Travel & Expense Software Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Travel & Expense Software Market: Competitive Dashboard
14.2 Global Travel & Expense Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SAP Concur
14.3.2 TripActions
14.3.3 TravelPerk
14.3.4 Lola.com
14.3.5 Rydoo
14.3.6 Certify
14.3.7 TravelBank
14.3.8 Egencia
14.3.9 Expensify
14.3.10 Zoho Expense
14.3.11 Abacus
14.3.12 Receipt Bank
14.3.13 Paylocity
14.3.14 Pleo
14.3.15 BigTime
14.3.16 Workday HCM
