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Global Travel and Expense Management Software Market Size, Share, Growth, Forecast: By Deployment Type: Cloud Based, On-premises; By Organisation Size: Small and Medium Sized Enterprises, Large Size Enterprises; By Industry Vertical: BFSI, IT and Telecom, Manufacturing, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Travel and Expense Management Software Market Outlook
The global travel and expense management software market size reached approximately USD 10.10 billion in 2023. The market is projected to grow at a CAGR of 12.3% between 2024 and 2032, reaching a value of around USD 28.68 billion by 2032.
Key Trends in the Market
Travel and expense management software, also known as T&E software, is a specialised software designed to streamline and automate the processes involved in managing travel expenses and reimbursements within an organisation. It provides a centralised platform for employees, managers, and finance teams to track, submit, review, approve, and reimburse travel-related expenses.
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- The increasing adoption of cloud-based technologies has revolutionised the software sector, and the travel and expense management software market is no exception. Organisations are increasingly opting for cloud-based solutions due to their scalability, accessibility, and cost-effectiveness. Cloud-based travel and expense management software also enables real-time data access, seamless integration with other systems, and reduced infrastructure costs.
- Automation and artificial intelligence (AI) technologies have significantly impacted the travel and expense management landscape. AI-powered solutions can automate various tasks, such as receipt scanning, expense categorisation, and policy compliance checks. This automation not only saves time and reduces manual errors but also improves data accuracy and enhances policy enforcement.
- As organisations handle sensitive financial and personal data during the expense management process, security and data privacy have become critical considerations. Travel and expense management software providers are investing in robust security measures, including encryption, secure data storage, and user authentication protocols, to protect sensitive information.
- The rising need for compliance with data security regulations, such as the General Data Protection Regulation (GDPR), is another key factor propelling the travel and expense management software market growth.
Market Analysis
Based on deployment type, the market is bifurcated into cloud based and on-premises. On the basis of organisation size, the market can be segmented into small and medium sized enterprises and large enterprises.
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The market division, based on industry vertical, includes BFSI, IT and telecom, manufacturing, public sector, healthcare, and retail, among others. The major regional markets for travel and expense management software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global travel and expense management software market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- Infor
- Oracle Corporation
- Oversight Systems Inc
- Navan, Inc.
- SAP SE
- Travelator, Inc.
- Zoho Corporation Pvt. Ltd.
- Emburse, Inc.
- Webexpenses Pty Ltd.
- Coupa Software Inc.
- Others
Market Share by Deployment Type
In the forecast period, the cloud-based deployment segment is anticipated to hold a significant portion of the travel and expense management software market share. Cloud-based deployment offers benefits such as remote access and virtual bookings, which enhance the accessibility to travel and expense management software.
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Enterprises are now integrating travel and expense management software with critical solutions like enterprise resource planning (ERP) and human capital management (HCM), among others. They are also customising interfaces to improve customer engagement and meet the demands of their clientele.
Market Share by Organisation Size
According to the market analysis, small and medium-sized enterprises (SMEs) are expected to experience a healthy growth. This can be attributed to the increasing trend of digital transformation and the affordable pricing structure available in the travel and expense management software market, which has made the solution more accessible to SMEs.
Competitive Landscape
Infor is a multinational business cloud software company headquartered in New York, the United States. The company develops complete solutions for sectors, including industrial manufacturing, healthcare, food and beverage, hospitality, and high-tech, among others. The company was established in the year 2002 and operates under its parent organisation Koch Industries.
Oracle Corporation is a pioneer in the database management sector and is recognised as one of the leading IT companies in the world. The company has been innovating in the software development field since its establishment in 1977. With its headquarter located in Texas, the United States, it supports numerous organisations to advance their scientific and medical research.
Oversight Systems Inc is a United States-based computer software company founded in 2003. It operates in the software development field as a leading provider of artificial intelligence-based solutions to mitigate risks, detect fraud, and ensure compliance with various regulations. The company's platform utilises advanced analytics and machine learning algorithms to analyse large volumes of data from multiple sources.
Other market players include Navan, Inc., SAP SE, Travelator, Inc., Zoho Corporation Pvt. Ltd., Emburse, Inc., Webexpenses Pty Ltd., and Coupa Software Inc., 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 Deployment Type |
|
| Breakup by Organisation Size |
|
| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 Travel and Expense Management Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Travel and Expense Management Software Historical Market (2018-2023)
8.3 Global Travel and Expense Management Software Market Forecast (2024-2032)
8.4 Global Travel and Expense Management Software Market by Deployment Type
8.4.1 Cloud Based
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 On-premises
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Travel and Expense Management Software Market by Organisation Size
8.5.1 Small and Medium Sized Enterprises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Large Size Enterprises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Travel and Expense Management Software 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 IT and Telecom
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Manufacturing
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Public Sector
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Healthcare
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Retail
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Travel and Expense Management Software 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 Travel and Expense Management Software 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 Travel and Expense Management Software 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 Travel and Expense Management Software 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 Travel and Expense Management Software 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 Travel and Expense Management Software 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 Infor
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 Oracle Corporation
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 Oversight Systems Inc
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 Navan, 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 SAP SE
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 Travelator, Inc.
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 Zoho Corporation Pvt. Ltd.
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 Emburse, 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 Webexpenses Pty Ltd.
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 Coupa Software Inc.
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 Travel and Expense Management Software Market: Key Industry Highlights, 2018 and 2032
2. Global Travel and Expense Management Software Historical Market: Breakup by Deployment Type (USD Billion), 2018-2023
3. Global Travel and Expense Management Software Market Forecast: Breakup by Deployment Type (USD Billion), 2024-2032
4. Global Travel and Expense Management Software Historical Market: Breakup by Organisation Size (USD Billion), 2018-2023
5. Global Travel and Expense Management Software Market Forecast: Breakup by Organisation Size (USD Billion), 2024-2032
6. Global Travel and Expense Management Software Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
7. Global Travel and Expense Management Software Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
8. Global Travel and Expense Management Software Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Travel and Expense Management Software Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Travel and Expense Management Software Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Travel and Expense Management Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Travel and Expense Management Software Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Travel and Expense Management Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Travel and Expense Management Software Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Travel and Expense Management Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Travel and Expense Management Software Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Travel and Expense Management Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Travel and Expense Management Software Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Travel and Expense Management Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
Key Questions Answered in the Report
In 2023, the market reached a value of around USD 10.10 billion.
The market is projected to grow at a CAGR of 12.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 28.68 billion by 2032.
The market is being driven by the increasing international travel activities and the growing adoption of cloud-based technologies.
The key trends propelling the market growth include the rising importance of secure data storage and financial privacy and the increasing deployment of travel and expense management software in SMEs.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major deployment types of travel and expense management software include cloud based and on-premises.
The key market players in the travel and expense management software market are Infor, Oracle Corporation, Oversight Systems Inc, Navan, Inc., SAP SE, Travelator, Inc., Zoho Corporation Pvt. Ltd., Emburse, Inc., Webexpenses Pty Ltd., and Coupa Software Inc., among others.
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