LONDON–(BUSINESS WIRE)–Jan 8, 2019– analysts forecast the global travel and expense management software market to grow at a CAGR of close to 12% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global travel and expense management software market from 2019-2023. (Graphic: Business Wire)

Rise in adoption of travel and expense management software among SMEs is one of the major trends being witnessed in the . With the aim to efficiently manage their employee expense, several small and medium sized enterprise are adopting travel and expense management software. The rise in adoption is attributable to the increased penetration of SaaS-based travel and expense management software. The incorporation of SaaS allows SMEs to use this software at a low cost. Therefore, the increasing adoption of travel and expense management software among these enterprises will fuel the growth of the market during the forecast period.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global travel and expense management software market is the growing integration of travel and expense management software with mobile apps:

Global travel and expense management software market: Growing integration of travel and expense management software with mobile apps

Organizations worldwide are increasingly adopting mobile devices such as smartphones to allow employees to work remotely. In addition, enterprises are focusing more on adopting travel and expense management mobile applications to stay connected around the clock. The integration of software with mobile app helps to store and sync data in real time thus, giving employees the freedom to manage expenses from any location. This will lead to an increase in demand for travel and expense management software during the forecast period.

According to a senior analyst at Technavio for research on enterprise application, “Travel and expense management software ensures that the expenses disclosed by the employees are compliant with the standard travel expense reimbursement policy. This will help in reducing the possibility of expense reimbursement frauds. Such benefits will fuel the adoption of travel and expense management software during the forecast period.”

Global travel and expense management software market: Segmentation analysis

The global travel and expense management software market research report provides market segmentation by deployment (SaaS-based, and on-premises) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The Americas held the largest share of the market in 2018, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem
Market characteristics
Market segmentation analysis

Market Sizing

Market definition
Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison
Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20190107006140/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE SMALL BUSINESS MOBILE/WIRELESS PROFESSIONAL SERVICES ACCOUNTING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/08/2019 01:52 AM/DISC: 01/08/2019 01:52 AM

http://www.businesswire.com/news/home/20190107006140/en

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