Vendor Insights
The travel and expense management software market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Apptricity Corp.
- Basware Corp.
- DATABASICS Inc.
- Emburse
- Expensify Inc.
- IBM Corp.
- Infor Inc.
- Oracle Corp.
- SAP SE (Concur)
- Zoho Corporation Pvt Ltd.
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Geographical Market Analysis
North America will provide maximum growth opportunities in Travel and Expense Management Software during the forecast period. According to our research report, the region will contribute to 27% of the global market growth. Over the forecast period, the rise in the use of this software by businesses such as BFSI would aid the growth of the travel and expense management software market in North America.
Furthermore, countries such as the US, China, Germany, and France are expected to emerge as prominent markets for the Travel and Expense Management Software Market during the forecast period.
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Key Segment Analysis
During the projected period, the on-premises segment will gain considerable market share in travel and expense management software. Because there is no third-party involvement, on-premises travel and expenditure management software is regarded as very secure. Because of the monitored and restricted access, businesses have complete control over their on-premises solutions, and they can configure the travel and expenditure management software to meet their specific needs. However, due to the increased usage of SaaS-based travel and expense management software, the market for on-premises travel and expense management software is likely to drop.
View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.
Key Market Drivers & Challenges:
The growing mobile workforce is one of the primary elements driving growth in the travel and expense management software market. Employees that travel across multiple physical locations for business objectives are referred to as a mobile workforce. This personnel is connected to their company via the Internet via their mobile devices, such as smartphones and laptops.
Mobile workforces are becoming the norm in fields such as healthcare, thanks to the increased adoption of technologies and increased communication among businesses. This type of labor is constantly expanding and is likely to continue to do so over the next few years.
However, the growing threat of open-source travel and expense management solutions will be a major issue for the travel and expense management software market.
Download free sample for highlights on market Drivers & Challenges affecting the Travel and Expense Management Software Market.
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Travel and Expense Management Software Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12% |
Market growth 2020-2024 |
$ 2.85 billion |
Market structure |
Fragmented |
YoY growth (%) |
11.32 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 27% |
Key consumer countries |
US, China, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Apptricity Corp., Basware Corp., DATABASICS Inc., Emburse, Expensify Inc., IBM Corp., Infor Inc., Oracle Corp., SAP SE (Concur), and Zoho Corporation Pvt Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, 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
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment placement
- On-premises - Market size and forecast 2019-2024
- SaaS-based - Market size and forecast 2019-2024
- Market opportunity by Deployment
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
- Vendor Analysis
Vendors covered
- Market positioning of vendors
- Apptricity Corp.
- Basware Corp.
- DATABASICS Inc.
- Emburse
- Expensify Inc.
- IBM Corp.
- Infor Inc.
- Oracle Corp.
- SAP SE (Concur)
- Zoho Corporation Pvt Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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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.
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