What is Travel & Expense Management Software Market Scope?
Travel and expense management software allows associations to approve and track the expenses accrued during a business travel by the employees on the business-related travel alongside accommodation, handling, repayment, and detailing of the worker consumption. Receipt following, separated report creation, and computerization of the repayment are key points of interest of the movement and cost the board programming. Complex and multi hierarchal models of the association and high selection of cell phones has made the requirement for movement and cost the board programming on the lookout.
Influencing Trend:
The emerging demand for software as services
Market Growth Drivers:
The rise in the demand for reducing operational cost and expenses in organizations, Increasing adoption of smartphones across the globe is another key driving factor of the growth and Mounting introduction of technological advancements
Challenges:
Lack of skilled professionals
Restraints:
Lack of awareness and knowledge about the benefits
Opportunities:
Increasing adoption in the industries due to the need for tracking and managing the expenses. and The use of artificial intelligence and data analytics is expected to add to the demand for the software,
The Travel & Expense Management Software market study is being classified, by Application and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Travel & Expense Management Software market throughout the predicted period.
Certify (Portland), Expensify (United States), Chrome River Technologies (United States), Infor(United States), Appricity Corporation (United States), Ariett (United States), Oracle Corporation (United States), SAP SE (Germany), Basware (Finland) and ITrippeo Technologies (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Chrome River Technologies (United States) and Coupa Software (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Travel & Expense Management Software market by Type, Application and Region.
On the basis of geography, the market of Travel & Expense Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In January 2020 Coupa United States Based Coupa acquired Yapta, a service for tracking travel price changes and rebooking trips automatically if airfares or hotel rates dropped.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Travel Expense Management Software Developers, Travel Expense Management Software Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
Travel & Expense Management Software Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Travel & Expense Management Software Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Travel & Expense Management Software industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.