Expense Management Software Market size is set to grow by USD 4,776.21 million from 2022 to 2027|Increasing adoption of cloud-based solutions to boost market growth - Technavio

NEW YORK, July 3, 2023 /PRNewswire/ -- The expense management software market size is forecast to increase by USD 4,776.21 million from 2022 to 2027, at a CAGR of 13.75%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing adoption of cloud-based solutions, the growing automation of manual processes, and the increasing need for cost reduction. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Coupa Software Inc., Emburse Inc., Expensify Inc., Fyle Technologies Pvt. Ltd., Insperity Services L.P., International Business Machines Corp., Intuit Inc., ITILITE, Koch Industries Inc., Oracle Corp., Sage Group Plc, SAP SE, Sodexo SA, The Access Group, VA Tech Ventures Pvt. Ltd., Webexpenses Pty Ltd., Workday Inc., Xero Ltd., Zaggle Prepaid Ocean Services Pvt. Ltd., and Zoho Corp. Pvt. Ltd.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Expense Management Software Market - Segmentation Assessment

The market is segmented by component (solution and service), application (large enterprises and SMEs), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

• The market share growth in the solution segment will be significant during the forecast period. The expense management software-as-a solution has been categorized into two types: cloud-based software solutions and on-premises solutions. The on-premises solutions are installed on the local servers of the end-user organization whereas cloud-based solutions are hosted on external servers and can be used over the Internet. expenditure reporting software, travel and expense management software, invoice management software, and others are the variety of software solutions present. The benefits which this software provides are instant access to the expenses incurred by the company and automation of the entire expense-management process. Hence, the growth of this segment is expected to drive the market growth during the forecast period.

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Expense Management Software Market - Market Dynamics

Key drivers

• Increasing adoption of cloud-based solutions is a key factor driving the market growth.
• The various advantages offered by these cloud solutions are that they can be used from anywhere with an internet-connected device and can be stored on remote servers and accessed over the Internet.
• In addition, they also provide real-time visibility into expenses, allowing organizations to track expenses and take quick actions if needed.
• These cloud solutions are less expensive as compared to the on-premises solution.
• Furthermore, these cloud solutions also provide improving scalability due to which companies can increase or decrease their internet usage.
• Hence, the rapid adoption of these solutions is expected to drive market growth during the forecast period.

Major Trends

• Increasing use of Artificial intelligence (AI) and machine learning (ML) is a major trend in the market.
• The main factor for using AI and ML is to automate processes and detect fraud, saving businesses time and money.
• Thus, these can also help businesses to take better decisions by analyzing data and providing insights to the end-users.
• Furthermore, it can improve the user's experience by providing personalized recommendations and suggestions based on the user's spending habits.
• Hence, these benefits are expected to drive the growth of the market during the forecast period.

Significant Challenges

• Security and privacy concerns associated with the software are significant challenges restricting the market.
• The important data of customers such as employee information, financial data, and credit card information is the major challenge in the market.
• To avoid data hacking, the companies are that their software provider is following all the protection laws which have been framed.
• Furthermore, companies need to be aware of various privacy rules and regulations due to different laws in different countries.
• Hence, these factors are expected to restrict the market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Expense Management Software Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the expense management software market between 2023 and 2027
• Precise estimation of the size of the expense management software market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the expense management software market across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of expense management software market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global expense management software market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global expense management software market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Solution - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Solution - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Solution - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Solution - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Solution - Year-over-year growth 2022-2027 (%)

• 6.4 Service - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Service - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Service - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Service - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Service - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Large enterprises - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Large enterprises - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Large enterprises - Year-over-year growth 2022-2027 (%)

• 7.4 SMEs - Market size and forecast 2022-2027 
• Exhibit 52: Chart on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on SMEs - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on SMEs - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 56: Market opportunity by Application ($ million)
• Exhibit 57: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 France - Market size and forecast 2022-2027 
• Exhibit 87: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Coupa Software Inc.
• Exhibit 111: Coupa Software Inc. - Overview
• Exhibit 112: Coupa Software Inc. - Product / Service
• Exhibit 113: Coupa Software Inc. - Key offerings

• 12.4 Emburse Inc.
• Exhibit 114: Emburse Inc. - Overview
• Exhibit 115: Emburse Inc. - Product / Service
• Exhibit 116: Emburse Inc. - Key offerings

• 12.5 Expensify Inc.
• Exhibit 117: Expensify Inc. - Overview
• Exhibit 118: Expensify Inc. - Product / Service
• Exhibit 119: Expensify Inc. - Key offerings

• 12.6 Insperity Services L.P. 
• Exhibit 120: Insperity Services L.P. - Overview
• Exhibit 121: Insperity Services L.P. - Product / Service
• Exhibit 122: Insperity Services L.P. - Key offerings

• 12.7 International Business Machines Corp. 
• Exhibit 123: International Business Machines Corp. - Overview
• Exhibit 124: International Business Machines Corp. - Business segments
• Exhibit 125: International Business Machines Corp. - Key news
• Exhibit 126: International Business Machines Corp. - Key offerings
• Exhibit 127: International Business Machines Corp. - Segment focus

• 12.8 Intuit Inc.
• Exhibit 128: Intuit Inc. - Overview
• Exhibit 129: Intuit Inc. - Business segments
• Exhibit 130: Intuit Inc. - Key offerings
• Exhibit 131: Intuit Inc. - Segment focus

• 12.9 Koch Industries Inc.
• Exhibit 132: Koch Industries Inc. - Overview
• Exhibit 133: Koch Industries Inc. - Product / Service
• Exhibit 134: Koch Industries Inc. - Key news
• Exhibit 135: Koch Industries Inc. - Key offerings

• 12.10 Oracle Corp.
• Exhibit 136: Oracle Corp. - Overview
• Exhibit 137: Oracle Corp. - Business segments
• Exhibit 138: Oracle Corp. - Key news
• Exhibit 139: Oracle Corp. - Key offerings
• Exhibit 140: Oracle Corp. - Segment focus

• 12.11 Sage Group Plc
• Exhibit 141: Sage Group Plc - Overview
• Exhibit 142: Sage Group Plc - Business segments
• Exhibit 143: Sage Group Plc - Key offerings
• Exhibit 144: Sage Group Plc - Segment focus

• 12.12 SAP SE
• Exhibit 145: SAP SE - Overview
• Exhibit 146: SAP SE - Business segments
• Exhibit 147: SAP SE - Key news
• Exhibit 148: SAP SE - Key offerings
• Exhibit 149: SAP SE - Segment focus

• 12.13 Sodexo SA
• Exhibit 150: Sodexo SA - Overview
• Exhibit 151: Sodexo SA - Business segments
• Exhibit 152: Sodexo SA - Key news
• Exhibit 153: Sodexo SA - Key offerings
• Exhibit 154: Sodexo SA - Segment focus

• 12.14 The Access Group
• Exhibit 155: The Access Group - Overview
• Exhibit 156: The Access Group - Product / Service
• Exhibit 157: The Access Group - Key offerings

• 12.15 Workday Inc.
• Exhibit 158: Workday Inc. - Overview
• Exhibit 159: Workday Inc. - Product / Service
• Exhibit 160: Workday Inc. - Key news
• Exhibit 161: Workday Inc. - Key offerings

• 12.16 Xero Ltd.
• Exhibit 162: Xero Ltd. - Overview
• Exhibit 163: Xero Ltd. - Business segments
• Exhibit 164: Xero Ltd. - Key offerings
• Exhibit 165: Xero Ltd. - Segment focus

• 12.17 Zaggle Prepaid Ocean Services Pvt. Ltd. 
• Exhibit 166: Zaggle Prepaid Ocean Services Pvt. Ltd. - Overview
• Exhibit 167: Zaggle Prepaid Ocean Services Pvt. Ltd. - Product / Service
• Exhibit 168: Zaggle Prepaid Ocean Services Pvt. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations
• Exhibit 175: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 17,000 reports and counting, covering 800 technologies, spanning 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.

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