Global Expense Management Software Market 2023

Global Expense Management Software Market 2023

Description
Expense management software is a financial management solution that helps businesses automate and streamline the process of managing and approving expense reports. It allows employees to submit expense reports, which are then processed, approved, and reimbursed with reduced time and effort. The software provides spending visibility, improves cost control, and streamlines the expense reporting process, benefiting organizations of all sizes.

The global expense management software market size is projected to grow by USD 4.4 billion from 2023 to 2029, registering a CAGR of 11.6 percent, according to the latest market data. Businesses are seeking ways to automate and streamline their financial processes, including expense management. Expense management software simplifies and accelerates the expense reporting process, reducing manual effort and improving efficiency.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global expense management software market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
Terminal type: PCs, mobile terminals
Organization size: large enterprises, small and medium-sized enterprises (SMEs)
End user: BFSI, energy and utilities, government, IT and telecom, manufacturing, retail and ecommerce, transportation and logistics, other
Region: USA, Europe, China, Japan, Southeast Asia, India, RoW (Rest of World)

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the terminal type, organization size, end user, and region. The global market for expense management software can be segmented by terminal type: PCs, mobile terminals. PCs was the highest contributor to the global expense management software market. Going forward, the mobile terminals segment is projected to witness the highest CAGR during the forecast period. Expense management software market is further segmented by organization size: large enterprises, small and medium-sized enterprises (SMEs). Globally, the large enterprises segment made up the largest share of the expense management software market. Based on end user, the expense management software market is segmented into: BFSI, energy and utilities, government, IT and telecom, manufacturing, retail and ecommerce, transportation and logistics, other. The BFSI segment was the largest contributor to the global expense management software market in 2022. On the basis of region, the expense management software market also can be divided into: USA, Europe, China, Japan, Southeast Asia, India, RoW (Rest of World). USA is estimated to account for the largest share of the global expense management software market.

Major Companies and Competitive Landscape
The global expense management software market report offers detailed information on several market vendors, including Coupa Software Inc., Emburse, Inc., Expensify Inc., Fyle Inc., IBM Corporation, Infor Inc. (Koch Industries Inc.), Insperity Inc., Intuit Inc., ITILITE Technologies Private Limited, Oracle Corporation, Sage Group plc, SAP SE, Sodexo S.A., The Access Group, VA Tech Ventures Private Limited, Webexpenses Pty Ltd., Workday Inc., Xero Limited, Zaggle Prepaid Ocean Services Pvt. Ltd., ZOHO Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the global expense management software market.
To classify and forecast the global expense management software market based on terminal type, organization size, end user, region.
To identify drivers and challenges for the global expense management software market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global expense management software market.
To identify and analyze the profile of leading players operating in the global expense management software market.

Why Choose This Report
Gain a reliable outlook of the global expense management software market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
Print authentication provided for the single-user license.

Recent Developments
▹ Koch Industries, Inc. announced that it has completed the acquisition of the remaining portion of Infor from Golden Gate Capital. Infor, a global leader in business cloud software specialized by industry, has been a key component of Koch’s technological transformation. Koch companies have made more than $26 billion in technology-related investments in the past six years, transforming a global portfolio of businesses spanning multiple industries.