North America Travel and Expense Management Software Market Size, Share & Trends Analysis Report By Deployment Type (Hosted and On-Premise), By Enterprise Size, By Vertical, By Country and Growth Forecast, 2024 - 2031

North America Travel and Expense Management Software Market Size, Share & Trends Analysis Report By Deployment Type (Hosted and On-Premise), By Enterprise Size, By Vertical, By Country and Growth Forecast, 2024 - 2031

The North America Travel and Expense Management Software Market would witness market growth of 14.3% CAGR during the forecast period (2024-2031).

The US market dominated the North America Travel and Expense Management Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,665.5 million by 2031. The Canada market is experiencing a CAGR of 16.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 15.8% during (2024 - 2031).

The travel and expense management software market are undergoing substantial growth as businesses progressively transition to cloud-based solutions, automation, and digitization to optimize their financial processes. Managing travel expenses manually is time-consuming, error-prone, and inefficient, leading companies to seek advanced software solutions that offer seamless tracking, automated approvals, and real-time reporting.

Additionally, with the rise in corporate travel, remote work, and hybrid work models, organizations are adopting AI-driven and cloud-based expense management platforms to enhance accuracy, reduce fraud, and ensure compliance with financial regulations. The growing need for cost control, transparency, and efficient financial management has propelled the market, making it an essential component for modern businesses.

Canada's transportation and logistics industry is critical in driving the demand for T&E management solutions. In 2023, Canada’s merchandise trade with the U.S. exceeded CAD 700 billion, necessitating seamless cross-border logistics. The National Trade Corridors Fund (NTCF)—which allocated CAD 2 billion to improve trade corridors—has contributed to the growth of freight and logistics services, resulting in increased employee travel and expense management challenges. The Canadian government’s emphasis on digital adoption and cloud-based business solutions through programs like the Canada Digital Adoption Program (CDAP) has further accelerated the implementation of AI-driven T&E management software, allowing logistics companies to optimize costs and improve operational efficiency.

Based on Deployment Type, the market is segmented into Hosted and On-Premise. Based on Enterprise Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Telecom & IT, Transportation & Logistics, Manufacturing, Retail, Government & Defense, Energy & Utilities, Healthcare, and Other Vertical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• Oracle Corporation
• SAP SE
• Infor, Inc.
• Coupa Software, Inc.
• Zoho Corporation Pvt. Ltd.
• Emburse, Inc. (Certify)
• Expensify, Inc.
• Navan, Inc.
• Ariett (AvidXchange)
• Rippling

North America Travel and Expense Management Software Market Report Segmentation

By Deployment Type

• Hosted
• On-Premise

By Enterprise Size

• Large Enterprises
• SMEs

By Vertical

• Telecom & IT
• Transportation & Logistics
• Manufacturing
• Retail
• Government & Defense
• Energy & Utilities
• Healthcare
• Other Vertical

By Country

• US
• Canada
• Mexico
• Rest of North America