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Global Expense Management Market Size, Report, Growth, Forecast: By Type: Telecom/Mobile Expense Management, Cloud Expense Management; By Enterprise Type: Large Enterprises, Small and Medium Enterprises; By Industry Vertical: BFSI, Manufacturing, IT & Telecom, Healthcare, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Expense Management Market Outlook
The global expense management market size attained a value of USD 7.40 billion in 2023. The market is further expected to grow at a CAGR of 8.6% between 2024 and 2032, to reach a value of USD 15.55 billion by 2032.
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Key Trends in the Market
Expense management is a thorough process which consists of policies and systems designed to deal with the expenses incurred by employees of an enterprise during work-related tasks. The expenses initiated by an employee can be related to travel, meals, or work purchases, among others, and are typically reimbursed by the enterprise, due to which streamlined management and tracking is required. Expense management can be facilitated in the form of hard documents, spreadsheets, or digital modes, such as software.
- Rising adoption of expense management solutions and services across various industry verticals is driving the market growth. Increasing digitalisation across sectors such as manufacturing, healthcare, and BFSI, among others, is adding to the expense management market value by surging the demand for digital tracking of expenses.
- Increasing number of investments and international expansion plans of major market players are the crucial trends in market. As per expense management market research, addition of advanced features in cloud-based software systems, for more efficient management of expense reports, are expected to aid the market growth.
- Based on the expense management market forecast, the increasing prevalence of work trips and in-person meetings is likely to lead to a rapid rise in expenses incurred by employees. Particularly among large enterprises with higher number of employees and travel requirements, the demand is rising for expense management.
- In geographical terms, North America expense management market size is expected to witness an expansion in the coming years, as more enterprises offer advantageous reimbursement policies to their employees. As the scope of reimbursement claims expands, a greater number of enterprises are investing in expense management.
Market Analysis
Based on type, the market is bifurcated into telecom/mobile expense management and cloud expense management. The expense management market segmentation based on enterprise type is large enterprises and small and medium enterprises. By industry vertical, the market is segmented into BFSI, manufacturing, IT & telecom, healthcare, and hospitality, among others. The regional markets for expense management are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global expense management market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Vodafone Group Plc
- Tangoe
- MobiChord GmbH (Brightfin)
- Tellennium, Inc.
- Valicom Corp
- Avotus Corporation
- Telesoft, LLC (Calero)
- Cass Information Systems, Inc.
- TeamSystem SpA
- VoicePlus Group
- Others
Market Share by Type
The cloud expense management segment, based on type, accounts for a healthy share of the expense management market. Cloud-based expense management software helps enterprises manage their employee expenses efficiently by providing speed and cost-effectiveness, seamless collaboration, reduced risk of errors, and real-time remote access for greater convenience. The rapid transition from traditional expense documentation to digital expense documentation is likely to heighten the adoption of cloud-based expense management software in the forecast period. As per the expense management market report, cloud expense management provides greater accuracy which reduces the burden on the workforce, helping them to focus on other organisation operations, thereby, enhancing productivity. Therefore, the increasing awareness about cloud expense management mode is further fuelling the segment and overall expense management market growth.
Market Share by Enterprise Type
Based on enterprise type, the large enterprise segment accounts for a significant portion of the expense management market share. Expense management makes the process of verifying, paying, and recording expense claims more transparent and organized which improves the reliability of monitoring and management of expenses. In addition, global operations of large enterprises lead to a greater investment in business trips, utilities, international tours, and rental and ownership of business vehicles and advanced telecom devices, among others, resulting in greater expenses incurred by employees. Over the forecast period, further national and global expansion of large enterprises is expected to augment the expense management market size.
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Competitive Landscape
Vodafone Group Plc is a multinational telecommunications company which provides mobile and fixed network services, internet services, IoT connectivity services, and broadband services, among others. It is one of the largest wireless phone network providers and is dedicated towards creating an interconnected digital society. The company was founded in 1984 and is headquartered in Berkshire, United Kingdom.
Tangoe is a leading software company which provides services related to expense management, mobility, and cloud-based software solutions that aim at aiding its customers in cutting costs, optimising efficiencies, and increasing revenue across businesses. Other services offered by this company include advisory services, bill payment, unified endpoint management, and help desk, among others. Tangoe was established in 2000 and is based out of Indiana in the United States.
MobiChord GmbH (Brightfin) is a subscription-based software provider of expense management technologies and solutions, aiding employees in preserving and generating budgets, as well as enhancing their productivity. Headquartered in Utah, United States, the company also provides solutions related to the management of mobile, voice and data, and cloud assets, catering to a wide range of customers.
Other market players include Tellennium, Inc., Valicom Corp, Avotus Corporation, Telesoft, LLC (Calero), Cass Information Systems, Inc., TeamSystem SpA, and VoicePlus Group, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Enterprise Type |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Expense Management Market Analysis
8.1 Key Industry Highlights
8.2 Global Expense Management Historical Market (2018-2023)
8.3 Global Expense Management Market Forecast (2024-2032)
8.4 Global Expense Management Market by Type
8.4.1 Telecom/Mobile Expense Management
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Cloud Expense Management
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Expense Management Market by Enterprise Type
8.5.1 Large Enterprises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Small and Medium Enterprises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Expense Management Market by Industry Vertical
8.6.1 BFSI
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Manufacturing
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 IT & Telecom
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Healthcare
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Hospitality
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Expense Management Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Expense Management Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Expense Management Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Expense Management Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Expense Management Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Expense Management Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Vodafone Group Plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Tangoe
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 MobiChord GmbH (Brightfin)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Tellennium, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Valicom Corp
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Avotus Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Telesoft, LLC (Calero)
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Cass Information Systems, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 TeamSystem SpA
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 VoicePlus Group
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Expense Management Market: Key Industry Highlights, 2018 and 2032
2. Global Expense Management Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Expense Management Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Expense Management Historical Market: Breakup by Enterprise Type (USD Million), 2018-2023
5. Global Expense Management Market Forecast: Breakup by Enterprise Type (USD Million), 2024-2032
6. Global Expense Management Historical Market: Breakup by Industry Vertical (USD Million), 2018-2023
7. Global Expense Management Market Forecast: Breakup by Industry Vertical (USD Million), 2024-2032
8. Global Expense Management Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Expense Management Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Expense Management Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Expense Management Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Expense Management Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Expense Management Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Expense Management Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Expense Management Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Expense Management Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Expense Management Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Expense Management Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Expense Management Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Expense Management Market Structure
Key Questions Answered in the Report
The market reached a value of USD 7.40 billion in 2023.
The market is estimated to grow at a CAGR of 8.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 15.55 billion by 2032.
The increasing adoption of expense management services by various industry verticals, expansion of enterprises nationally and globally, and increasing ownership and rental of business vehicles and equipment are the major drivers of the market.
The key trends in the market include the surge in number of enterprises across emerging economies, rapid digitalisation across enterprises, and increasing adoption of smart devices.
Telecom/mobile expense management and cloud expense management are the different types of expense management in the market.
Large enterprises and small and medium enterprises are the significant enterprise types in the market.
The process of expense management involves initiation, verification, reimbursement, and provision of information related to expenses.
The various industry verticals in the market for expense management are BFSI, manufacturing, IT & telecom, healthcare, and hospitality, among others.
Vodafone Group Plc, Tangoe, MobiChord GmbH (Brightfin), Tellennium, Inc., Valicom Corp, Avotus Corporation, Telesoft, LLC (Calero), Cass Information Systems, Inc., TeamSystem SpA, and VoicePlus Group, among others, are the key players in the expense management market, according to the report.
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