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Expense Management Software Market Size, Global Industry Trends, Share, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast – 2025
Posted on May 5 2021 9:01 AM
"Expense Management Software Market Size, Trends & Forecasts Report provides detailed analysis of market size and growth. The analysis includes the global market by value and by segments. Expense Management Software Market Growth taking into consideration the previous growth patterns, the growth drivers and the current and future trends. In this segment of the report of Expense Management Software Market business overview, financial overview and business strategies of the companies are provided.
Global Expense Management Software Market Research Report covers segment data, including: type segment, industry segment, channel segment etc. cover different segment Expense Management Software Market size, both volume and value. Also cover different industries client's information, which is very important for the manufacturers.The Expense Management Software Market report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. the global Expense Management Software Market revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period.
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Expense Management Software Market Size (sales, revenue) forecast by regions and countries from 2021 to 2025 of Expense Management Software industry.Expense Management Software Market with respect to individual growth trends, future prospects, and their contribution to the total market. Expense Management Software Market analysis have current study and addition to the potential feature of the market primarily depends upon the facet of the business which compete on the current market, high factors and appropriated analysis. Global Expense Management Software Market report consumption (value and volume) by key regions/countries, product type and application.Expense Management Software Market Report also mentions market share accrued by each product in the Expense Management Software market, along with the production growth.
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Expense Management Software Market Report Focuses on the key global Expense Management Software manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in forecast period.Expense Management Software Market Report organizes across the globe into distinct portion based on industry standards. It also distinguishes the market based on geographical regions.
Market Synopsis of Global Expense Management Software Market
An expense management software is a financial management software tool that assists enterprises in automating and streamlining the process of expense report management and approval. It significantly reduces the time and efforts required for submitting, approving, and processing employee expense reports, as well as reimbursing the expenses.
The expense management software market is expected to witness significant growth. The market growth is attributed due to the centralization of enterprise expense-related data. The global economy has witnessed constant alterations due to technological advancements, that enable businesses and employees to function efficiently. Centralizing all-expense-related data along with utilizing expense management software enables employees of an organization to review, monitor, and submit expense reports on the go. It also eliminates data entry errors and examines the expense report quickly and accurately while providing visible insights into the expense management software system.
Centralization of enterprise expense-related data helps overcome challenges related to employee-initiated expenses with the assistance of cloud-based technology. This allows employees of an organization to submit their expenses on web-based expense systems even with the help of mobile applications. According to a study conducted by GovLoop in association with SAP Concur, 16% of employees in the public sector have access to cloud web-based systems and applications to monitor and submit their expenses.
Additionally, the centralization of enterprise expense-related data is beneficial for the growth of organizations as it monitors employee expenditure and controls costs, increases productivity and scalability, and improves financial security. For instance, SAP Concur offers cloud-based technology for the management of expenses, enabling employees to simplify their spending patterns and resolving expense-related issues by maximizing efficiency, transparency, and control. Additionally, SAP Concur examines, monitors, and controls employee-initiated spending which streamlines the workflow of an organization and ensures profitable results. Hence, the centralization of enterprise expense-related data is one of the factors expected to drive the growth of the expense management software market during the forecast period.
However, the lack of interoperability along with security concerns remains a major concern for the growth of the expense management software market during the forecast period.
The global expense management software market is expected to reach USD 6,599.2 million by 2025 growing at a 12.4% CAGR during 20182025.
Some of the key players of expense management software market include are IBM Corporation (US), Oracle (US), SAP Concur (US), Sodexo (France), Intuit Inc. (US), Insperity (US), Infor Inc. (US), Workday Inc. (US), Xero Limited (New Zealand), Coupa Software Inc. (US), Zoho Corporation Pvt. Ltd. (India), and Expensify (US).
The global expense management software market has been segmented based on type and end user.
Based on type, the expense management software market has been sub-segmented into PC terminal and mobile terminal.
On the basis of end user, the market has been segmented into small business, midsized business, and large enterprises.
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•The global expense management software market is expected to reach USD 6,599.2 million by 2025.
•By type, the PC terminal segment led the market with a larger share and is expected to continue to dominate the segment. The mobile terminal segment is expected to exhibit higher CAGR over the next few years.
•By end user, the large enterprises segment dominated the market accounting for the larger market share, whereas the midsized business segment is expected to exhibit the higher CAGR of 14.3% during 20182025.
•Geographically, the US dominated the expense management software market, with the largest market share in 2017 and the market in India is expected to grow with the highest CAGR of 14.1%. However, Europe is expected to account for the second largest market during the forecast period.
Geographically, the global expense management software market has been segmented into the US, Europe, China, Japan, Southeast Asia, and India.
The US dominated the global expense management software market with a share of 39% in 2017. Increasing adoption of mobile applications in organizations and presence of solution providers such as IBM Corporation, Oracle, SAP Concur, Replicon, YourPeople Inc., SumTotal Systems LLC, and Expense Path Inc. The solutions offered by the company include highly differentiated products that improve the customer experience. For instance, GlobalPoint Technologies Inc., one of the leading solution providers of expense management software, commercializes automated expense management software solution for small, medium, and large businesses that help organizations to avoid complexity associated with expense processing.
Additionally, the market in India is expected to grow with the highest CAGR of 14.1% and likely to be the fastest growing market for expense management during the forecast period. According to international financial institutions such as the World Bank, International Monetary Fund (IMF), and Moody's International, India is one of the fastest growing economies in the world. It is attributed to increased investments from advanced economies, government initiatives to support digitalization, and rising demand for the adoption of mobile-based applications. Also, various digital campaigns led by government to create awareness among people for adopting advanced technologies such as Make in India and Digital India encourage companies around the world to invest heavily in the country. Furthermore, the country offers significant growth opportunities for small and medium enterprises and the solution providers to deliver customized solutions to the commercial sectors particularly retail, BFSI, manufacturing, and IT & telecom among others.
•technology solution providers
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The global Expense Management Software market Growth is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2025. In 2021, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.Expense Management Software Market provides sizing and growth opportunities for the period 2021-2025. Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market. Report Includes a detailed analysis of growth drivers, challenges, and investment opportunities. Delivers a complete overview of segments and the regional outlook of the market. Expense Management Software Market Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
Expense Management Software Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.Expense Management Software Market Forecast by regions, type and application, with sales and revenue, from 2021 to 2025.Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Total Chapters in Expense Management Software Market Report are:
Chapter 1 Overview of Expense Management Software Market
Chapter 2 Global Market Status and Forecast by Regions
Chapter 3 Global Market Status and Forecast by Types
Chapter 4 Global Market Status and Forecast by Downstream Industry
Chapter 5 North America Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 6 Europe Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 7 Asia Pacific Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 8 Latin America Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 9 Middle East and Africa Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 10 Market Driving Factor Analysis of Low End Servers
Chapter 11 Expense Management Software Market Competition Status by Major Manufacturers
Chapter 12 Expense Management Software Major Manufacturers Introduction and Market Data
Chapter 13 Upstream and Downstream Market Analysis of Expense Management Software Market
Chapter 14 Cost and Gross Margin Analysis of Expense Management Software Market
Detailed TOC of Global Expense Management Software Market Analysis & Forecast
1 Executive Summary
2 Market Dynamics
2.1 Market Growth Factors
2.1.1 Rising Security and Safety Concern
2.1.2 Expense Management Software in Developing Countries
2.1.3 Enhanced Business Productivity
2.2 Market Restraints
2.3 Expense Management Software Supply Chain Process
2.4 Porter's Five Forces Analysis
3 Global Expense Management Software Market, By Type
4 Global Expense Management Software Market, By Component
4.2.1 Expense Management Software Components
5 Global Expense Management Software Market, By Verticals
6 Global Expense Management Software Market, By Region
6.2 Market, By Regions
6.2.1 North America
18.104.22.168 U.S. 33
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-pacific
6.2.8 Rest of the World (RoW)
188.8.131.52 Middle East & Africa
184.108.40.206 Latin Countries
7 Competitive Landscape
7.2 Market Share Analysis
7.3 Company Profiles
220.127.116.11 Business Overview
18.104.22.168 Product/Service Portfolio
22.214.171.124 Business Strategy
126.96.36.199 SWOT Analysis
8.1 Scope of the Study
8.1.1 Research Objective
8.2 Market Structure
9 Research Methodologies
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
9.4 Market Size Estimation
9.5 Forecast Model
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