$ 2.85 Billion Growth in Global Travel and Expense Management Software Market 2020-2024|Includes Insights on Key Products Offered by Major Vendors|Technavio

NEW YORK, Feb. 26, 2021 /PRNewswire/ -- The travel and expense management software market are expected to grow by USD 2.85 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the travel and expense management software market in optimistic, probable, and pessimistic forecast scenarios.

Enterprises will go through the Response, Recovery, and Renew phases. Get a Free Sample Report Delivered Instantly

The travel and expense management software market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth increased in 2020 as compared to 2019.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

This post-pandemic business planning research will aid clients to:

• Adjust their strategic planning to move ahead once business stability kicks in.
• Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
• Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure

Key Considerations for Market Forecast:

• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates

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Major Three Travel And Expense Management Software Market Participants:

Apptricity Corp.

Apptricity Corp. operates its business through segments such as Asset solutions, Spend solutions, Field services, and Tracking devices. The company offers Travel and Expense Management Software. The product helps automate how the user enters, reviews, authorizes, approves, and audits their expenses.

Basware Corp.

Basware Corp. operates its business through the Solutions segment. The company offers Travel and expense manager. The offering helps control the expenses of organizations, alongside services such as error and fraud prevention, faster reporting, and reimbursements.

DATABASICS Inc.

DATABASICS Inc. operates its business through the Solutions segment. The company offers DATABASICS Expense. The product offers expense report tracking which helps streamline project allocation, accounting integration, and policy enforcement.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get a detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/travel-and-expense-management-software-market-industry-analysis

Travel And Expense Management Software Market 2020-2024: Segmentation

Travel and expense management software market is segmented as below:

• Deployment
• On-premises
• Saas-based

• Geography
• North America
• Europe
• APAC
• South America
• MEA

The travel and expense management software market is driven by the increasing mobile workforce. In addition, other factors such as the requirement to reduce employee travel and expense reimbursement frauds are expected to trigger the travel and expense management software market toward witnessing a CAGR of over 12% during the forecast period.

Get more insights about the global trends impacting the future of the travel and expense management software market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR41551

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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SOURCE Technavio