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Global Travel and Expense Management Software Market 2017-2021

About Travel and Expense Management Software

Travel and expense management software is used by enterprises to manage and audit the expenses by their employees that include travel. This software helps maintain the transparency between enterprise and its employees regarding their expenses on business trips. The software is used by enterprises to control and monitor expense reports, which help streamline the business process and prevent fraud and human error. It also increases the transparency among employees and enterprises for entire reimbursement claim process, reduces travel costs, and improves the efficiency of enterprises.

Technavio’s analysts forecast the global travel and expense management software market to grow at a CAGR of 7.66% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global travel and expense management software market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of software license of travel and expense management software.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Travel and Expense Management Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • American Express Global Business Travel
  • Apptricity
  • AvidXchange
  • Basware
  • Certify
  • Chrome River Technologies
  • Coupa Software
  • DATABASICS
  • Expense8
  • ExpenseAnywhere
  • Expensify
  • Expenzing
  • Infor
  • InterplX
  • Oracle
  • Paychex
  • SAP
  • Serko
  • Skyjunxion
  • Traveldoo
  • TraveluXion
  • Trippeo Technologies
  • Unit4
Market driver
  • Pricing strategies of vendors
  • For a full, detailed list, view our report
Market challenge
  • High implementation and maintenance costs
  • For a full, detailed list, view our report
Market trend
  • Introduction of travel and expense management mobile app
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Travel and Expense Management Software Market 2017-2021

Technavio recognizes the following companies as the key players in the global travel and expense management software market: American Express Global Business Travel, Apptricity, AvidXchange, Basware, Certify, Chrome River Technologies, Coupa Software, DATABASICS, Expense8, ExpenseAnywhere, Expensify, Expenzing, Infor, InterplX, Oracle, Paychex, SAP, Serko, Skyjunxion, Traveldoo, TraveluXion, Trippeo Technologies, and Unit4.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Introduction of travel and expense management mobile app. The increasing adoption of mobile devices for professional purposes is a major trend in the global travel and expense management software market. Enterprises are increasingly focusing on adopting travel and expense management mobile app to stay connected to the clock via mobile devices. Mobile devices keep employees connected, and it has increased the demand for continuous connectivity between corporate networks and the mobile devices of employees. Employees are encouraged to use their privately owned mobile devices such as cell phones, tablets, and laptops to access and store private information.”

According to the report, one of the major drivers for this market is Pricing strategies of vendors. To thrive in a competitive market environment, travel and expense management software vendors are adopting customer-centric pricing strategies enabled by advances in technology. Several vendors in the travel and expense management software market are focusing on providing value-based pricing models depending on the customer's needs. The pricing of the software is based on differentiating features of the software solution and the value-added features provided to the customers.

Further, the report states that one of the major factors hindering the growth of this market is High implementation and maintenance costs. The high cost of deploying on-premise travel and expense management software is one of the major challenges in the market. The price of travel and expense management software includes the cost of implementation, training, maintenance, software licensing, system design, and customization. Apart from software licensing, enterprises also need to invest in the proper implementation of the software and training for the employees to use the software application. Post implementation, the software requires continuous upgradation to keep up with the market trends. All these factors lead to a rise in the total cost of implementation of travel and expense management software, adversely affecting its adoption among the end-users.

Companies Mentioned

American Express Global Business Travel, Apptricity, AvidXchange, Basware, Certify, Chrome River Technologies, Coupa Software, DATABASICS, Expense8, ExpenseAnywhere, Expensify, Expenzing, Infor, InterplX, Oracle, Paychex, SAP, Serko, Skyjunxion, Traveldoo, TraveluXion, Trippeo Technologies, and Unit4.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market landscape
    • Market ecosystem
      • Table Global IT software market
      • Table Global travel and expense management software market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2016
      • Table Market size 2016
      • Table Validation techniques employed for market sizing 2016
    • Market size and forecast 2016-2021
      • Table Global - Market size and forecast 2016-2021 ($ bn)
      • Table Global - Year-over-year growth 2017-2021 (%)
  • Five forces analysis
    • Table Five forces analysis 2016
    • Table Five forces analysis 2021
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2016
  • Market segmentation by component
    • Segmentation by component
    • Travel management software
    • Expense management software
  • Market segmentation by deployment type
    • Segmentation by deployment type
      • Table Deployment type - Market share 2016-2021 (%)
    • Comparison by deployment type
      • Table Comparison by deployment
    • On-premise - Market size and forecast 2016-2021
      • Table On-premise- Market size and forecast 2016-2021 ($ bn)
      • Table On-premise - Year-over-year growth 2017-2021 (%)
    • Cloud-based - Market size and forecast 2016- 2021
      • Table Cloud-based - Market size and forecast 2016-2021 ($ bn)
      • Table Cloud-based - Year-over-year growth 2017-2021 (%)
    • Market opportunity by deployment type
      • Table Market opportunity by deployment type
  • Regional landscape
    • Geographical segmentation
      • Table Global - Market share by geography 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • Americas - Market size and forecast 2016-2021
      • Table Americas - Market size and forecast 2016-2021 ($ bn)
      • Table Americas - Year-over-year growth 2017-2021 (%)
      • Table Top three countries in Americas
    • EMEA - Market size and forecast 2016-2021
      • Table EMEA - Market size and forecast 2016-2021 ($ bn)
      • Table EMEA - Year-over-year growth 2017-2021 (%)
      • Table Top three countries in EMEA
    • APAC - Market size and forecast 2016-2021
      • Table APAC - Market size and forecast 2016-2021 ($ bn)
      • Table APAC - Year-over-year growth 2017-2021 (%)
      • Table Top three countries in APAC
    • Market opportunity
      • Table Market opportunity by geography
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Open-source travel and expense management software
  • Market trends
    • Introduction of travel and expense management mobile app
    • Rise in adoption among mid-sized enterprises
    • Increasing focus on reducing expenses and operational costs
  • Vendor landscape
    • Competitive scenario
      • Table M&A
  • Vendor analysis
    • Vendors covered
  • Appendix
    • List of abbreviations
  • Explore Technavio

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