Corporate Travel Expense Management Solutions Market Size Is Projected To Surpass USD 5.6 Mn By 2028
Corporate Travel Expense Management Solutions Market
This market is estimated to be valued at USD 1.64 Bn in 2018 and is projected to grow at a CAGR of 12.8% to reach USD 3.15 Bn by 2023.
NEW YORK CITY, NEW YORK, UNITED STATES, October 28, 2022 /EINPresswire.com/ -- The corporate travel expense management solutions market is estimated to be valued at USD 1.64 Billion in 2018 and is projected to grow at a CAGR of 12.8% to reach USD 3.15 Billion by 2023. The growth of the corporate travel expense management solutions market is driven by the need for cost-effective travel management and real-time visibility into travel expenses. However, data security concerns and the lack of awareness about these solutions are restraining the growth of this market.
North America is expected to hold the largest share of the corporate travel expense management solutions market in 2018, followed by Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
In the current market scenario, the global Corporate Travel Expense Management Solutions market is expected to draw growth due to numerous multinational and domestic organizations. These are organizations that operate in diverse industries worldwide and adopt Corporate Travel Expense Management Solutions into their business strategies The Corporate Travel Expense Management Solutions market report contains statistics and information about the market, including market size, driving factors, and restraining factor for the 2022-2032 period.
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Moving ahead, the research literature conducts a country-wise analysis such as North America, South America, Europe, Asia-Pacific, The Middle East and Africa. The prominent regional contributors unearth the lucrative growth avenues for the ensuing years. It then deeply explores the competitive terrain concerning the top organizations, as well as new and emerging participants in this business space.
Global Corporate Travel Expense Management Solutions Market: Participant Insights and Potential Buyers
Strong customer relationships with dealers/distributors, and other stakeholders in distribution channels, have been at the forefront of the many policies and plans that prominent players in global Corporate Travel Expense Management Solutions markets have adopted. Some of the top key players operating in the Corporate Travel Expense Management Solutions market are Oracle Corporation
Apptricity Corp.
SAP SE (Concur)
Basware
Expensify
Chrome River Technologies
Infor
Coupa Software
Trippeo Technologies
Certify
Journyx
Xero
Harvest
Ariett
Abila
Competitiveness in this landscape is growing stronger, and the adoption of new Corporate Travel Expense Management Solutions technology is superseding the Corporate Travel Expense Management Solutions of yesteryears. With numerous updations, customizations, and innovations, end users can increase uptime, save on maintenance and energy costs, scale products with the business, and extend the life of their investments, all of which will play a significant role in the global Corporate Travel Expense Management Solutions market.
Remaining Report Metric:
* Projected Year- 2023
* Short-Term Projection Year - 2028
* Long-Term Projected Year - 2032
* Regional Scope - North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW
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Methodology of Corporate Travel Expense Management Solutions Market
The four main activities used in collecting data for the report are: These activities aid in estimating the current market size for Corporate Travel Expense Management Solutions market. Thorough secondary research was conducted to collect information on the Corporate Travel Expense Management Solutions market, such as new technologies coming into the market and components connected with this market. The data collected was then validated with industry professionals from every value chain through primary research. To estimate the market size, top-down or bottom-up approaches were used.
Secondary research involves collecting data from government publications, such as the World Bank, Eurostat and Organization for Economic Co-operation and Development (OECD) and CDC. It also includes regulatory and corporate filings like SEC filings and annual reports, investor presentations and financial statements. Research journals, trade, business and professional associations. Secondary data was used to predict the market size, which was then validated by primary research.
After gaining a clear picture of the market for a Corporate Travel Expense Management Solutions through secondary research, extensive primary research was conducted. For the primary research, market experts interviewed from both the demand-side and supply-side players. They also covered four regions: Europe, North America, Asia, Oceania, and the Rest of the World. Primary data was also collected via mail, questionnaires and telephonic interview.
Market Segmentation
Based on Product, This market is segmented into:
Cloud Based
On Premise
Application Outlook
Transportation & Logistics
Government & Defense
Energy & Utilities
Healthcare
Retail
Telecom & IT
Manufacturing
Others
Topographical Study:
1. Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
2. North America (United States, Canada and Mexico)
3. Asia-Pacific (China, Korea, India, Southeast Asia, and Australia)
4. South America (Brazil, Argentina, Colombia, and Rest of South America)
5. Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The Report Provides Insights on The Following Pointers:
- It gives a forecast analysis of factors driving or restraining the development of the Corporate Travel Expense Management Solutions market.
- The report gives a seven-year forecast value evaluated based on the current market performance of the automotive industry.
- It helps in understanding the main segments of the products and their future.
- The report gives a deep analysis of changing competition in the market, which keeps you ahead of your competitors.
- The report gives the market definition of the Corporate Travel Expense Management Solutions market and analyzes different factors influencing the market such as drivers, opportunities, and restraints.
Questionnaire answered in the Corporate Travel Expense Management Solutions Market report include:
Q1. What are the biggest challenges the global Corporate Travel Expense Management Solutions markets will face in the near future?
Q2. Can I ask for different company profiles?
Q3. What are the criteria used for selecting a company profile?
Q4. Which crucial factors are accountable for the robust growth of the global Corporate Travel Expense Management Solutions Market?
Q5. What are the present and future outlooks of the Corporate Travel Expense Management Solutions based on geographical regions?
Q6. What is the USP for the Corporate Travel Expense Management Solutions market report?
Q7. What is the Corporate Travel Expense Management Solutions market size?
Q8. Why are Corporate Travel Expense Management Solutions Market so popular?
Q9. Why is the consumption of Corporate Travel Expense Management Solutions highest in the region?
Q10. What are the estimated figures for the overall market in the coming few years?
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- Develop an overview of the current Corporate Travel Expense Management Solutions landscape in key markets
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