Travel Management Software Market 2019 Global Size, Emerging Technologies, Developments, Business Strategy, Company Profile, Future Prospects and Opportunity Assessment by 2023

Market Research Future published a research report on “Travel Management Software Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Travel Management Software Market – Overview

The escalation in business travel is increasing the reliance on travel management software. Market reports linked with the information and communication technology industry have been put forward by Market Research Future which generates reports on other industry verticals that seeks to study the current market scenarios better. The market is projected to diversify with a CAGR of 8% while making revenues worth USD 1 Billion by 2023.

The varied expenses incurred in the day to day business operations include a huge chunk of traveling done by executives. Thus, the use of software enables tracking and managing travel expenses effectively. The market for travel management software is encouraged by the increasing use of devices such as smartphones and laptops. The tailoring of customer-centric solutions in the travel management software is anticipated to boost the expansion of the market in the forecast period.

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Key Players:

The major players include Concur (SAP) (U.S.), Certify (Portland), Expensify (U.S.), Chrome River Technologies (U.S.), Infor(U.S.) are the leading technologies of the travel management software.

The other prominent market players include Appricity Corporation (U.S.), Ariett (U.S.), Basware (Finland), DATABASIC (U.S.), Expense 8 (Australia), Fraedom (U.K), Oracle Corporation (Calfornia, U.S.), NetSuite (Calfornia, U.S.), Skyjunxion, (Beirut) Trippeo Technologies (Canada), Insperity (U.S.), Interpix, (U.S.) Unit 4 (Netherlands), Nexonia (Canada), Paychex (U.S.).

Segmental Analysis:

The global Travel Management Software Market, as reviewed by MRFR, is segmented by component, deployment, industry, application, and organization. This enables better predictive analysis of the market and provides a better scope to gain knowledge about the upcoming years.

Based on the component, the travel management software market comprises solution and services. The solution segment includes business intelligence, integrations, customer experience. On the other hand, the services segment consists professional services and managed services. These two segments can again be sub-segmented. The managed services segment encapsulates consulting services, application management, and service & support. The professional services segment includes financial management and business performance management.

On the basis of the deployment, the travel management software market can be segmented into on-premises and on- clouds. The on-clouds segment is expected to gain much traction due to the simplified processes it provides. Workflow becomes more effective and simplified.

By industry, the travel management software market can be segmented into transportation, manufacturing, healthcare, retail& logistics, and energy.

Based on the application segment, the travel management software market includes internet, mobile applications, and computer system. The mobile applications segment is expected to grow substantially owing to its easy applications.

By organizations, the travel management software market can be segmented into large, small, and medium enterprises.

Regional Analysis:

Region-specific analysis as conducted by MRFR on the travel management software market includes, namely, North America, Asia Pacific (APAC), Europe, Latin America, and Rest-of-the-World (RoW). Both volume-wise and value-wise analyses of these regions

Superlative IT infrastructure and high digital acceptance are factors promoting North American travel management software market. At the same time, several key players are from this region which is helping the region in staying ahead from their peers. Companies such as SAP Concur, Net-suite DATABASIC, and Oracle Corporation are global market leaders and pioneers in many ways. The regional market is getting dominated mostly by the U.S., however, Mexico and Canada are also contributing substantially to the market growth.
The APAC region is counting mostly on the increasing number of small & medium enterprises who are promoting the regional tourism well. Many of them are IT start-ups and are participating in the chalking of the regional market strategies. Japan, South Korea, China, and India can influence the regional market substantially.

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Intended Audience:

• Travel management software provider.
• Software Solution providers
• Small and Medium Enterprises
• Travel Agencies
• Government
• Tour operators
• Research Firms

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future

Release ID: 88896206