Travel and expense management software allows organizations to track and approve the expenses accrued during a business travel by the employees on the business-related travel along with submission, processing, reimbursement, and reporting of the employee expenditure. Receipt tracking, itemized report creation, and automation of the reimbursement are key advantages of the travel and expense management software. Complex and multi hierarchal models of the organization and high adoption of mobile devices has created the need of the travel and expense management software in the market.
The "Global Travel and Expense Management Software Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the travel and expense management software market with detailed market segmentation by deployment mode, organization size, industry, and geography. The report provides key statistics on the market status of the leading travel and expense management software market players and offers key trends and opportunities in the market.
- Based on deployment mode, the global travel and expense management software market is segmented into on premise, cloud
- On the basis of organization size, the market is segmented into SMES, large enterprises
- Based on industry, the market is bifurcated into BFSI, IT and telecom, manufacturing, healthcare, government and defense, retail, transport and logistics, others
- The rising need to reduce operational cost and expenses in organizations, adoption of mobile devices, and need of hassle-free claim of expenses drive the travel and expense management software market. Further, the emergence of the software-as-a-service gave a push to the development of travel and expense management software and indirectly fueled the market to growth segment.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The travel and expense management software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the travel and expense management software market in these regions.
IMPACT OF COVID-19 ON TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the travel and expense management software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from travel and expense management software market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the travel and expense management software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BASWARE, INC.
- Certify, Inc.
- CHROME RIVER TECHNOLOGIES
- COUPA SOFTWARE INCORPORATED
- DATA BASICS, INC.
- KDS INC.
- SAP Concur
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.