Europe Travel and Expense Management Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Deployment, Enterprise Size, and Industry

Description

List of Tables

The Europe travel and expense management software market is expected to grow from US$ 994.90 million in 2022 to US$ 1,608.13 million by 2028. It is estimated to grow at a CAGR of 8.3% from 2022 to 2028.

Increasing Mobile Workforce is Fueling the Europe Travel and Expense Management Software Market

Mobile workforce is surging due to the growing adoption of technologies and enhancing connectivity among enterprises. Pharmaceutical representatives, sales representatives, and merchandisers are a few examples of mobile workforces. The number of employees traveling abroad is rising with the expansion of several businesses across the region, which increases travel-related expenses. In corporate travel, there is a risk of noncompliance and financial fraud, which makes it tough for enterprises to audit travel and expense reports. Travel and expense management software helps track and manage travel expenses. Moreover, the software enables organizations to make the business process smooth. Also, the mobile workforce can conveniently submit their expenditure details by using the software. The adoption of travel and expense management software improves business reporting and simplifies the expense reimbursement and reconciliation process by eliminating paper use and reducing manual errors. Thus, the rising mobile workforce augments the growth of the travel and expense software market. Furthermore, surge in international exercises and presence of military outposts and postings has surged the movement of the military which is surging the demand for travel and expense management software in various nations, hence contributing to the Europe travel and expense management software market growth.

Europe Travel and Expense Management Software Market Overview

The European countries have more GDP per capita than other countries. Increased economic progress is a good indicator of opportunities for software developers in European countries. From an organization's point of view, the region is the hub for several well-known IT companies. Moreover, tourism is one of the most significant sectors supporting the growth of the region's GDP. Business tours are majorly hosted online, where travel and expense management software is considered an effective tool. Hence, businesses are adopting such solutions so employees can access these online platforms remotely. From the end user's point of view, cloud apps are among the most prominent apps used by employees and customers in the tourism industry. Further, the banking sector in Europe has been inclining toward digital transformation. The COVID-19 pandemic significantly impacted digital transformation, creating an immediate need for banks to communicate with their employees and arrange necessary business tours through digital channels, such as platforms and apps, while social distancing was the norm. According to the European Central Bank's published report on January 13, 2022, the number of digital users in the banking sector has increased by 23% since the COVID-19 pandemic. Factors such as easy booking, cost savings, personalization, streamlined approvals, extensive travel inventory, travel data analytics, online travel consultancy, and policy compliance are contributing to the growth of the travel and expense management software market across Europe. Moreover, leading European players are expanding their roots at the global level by forming strategic alliances. For instance, on August 4, 2022, travel platform "HRS" acquired German Expense Management Firm "Paypense." Therefore, expansion strategies by the key players are anticipated to provide lucrative growth opportunities for Europe travel and expense management software market.

Europe Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Europe Travel and Expense Management Software Market Segmentation

The Europe travel and expense management software market is segmented into deployment, enterprise size, industry, and country.

Based on deployment, the Europe travel and expense management software market is bifurcated into on-premise and cloud. The cloud segment held a larger market share in 2022.

Based on enterprise size, the Europe travel and expense management software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held a larger market share in 2022.

Based on industry, the Europe travel and expense management software market is segmented into BFSI, IT and telecom, manufacturing, healthcare, government and defense, transport and logistics, retail, and others. The manufacturing segment held the largest market share in 2022.

Based on country, the Europe travel and expense management software market has been categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK dominated the market share in 2022.

Basware Corporation; Certify, Inc.; Chrome River Technologies, Inc.; Concur Technologies, Inc.; Coupa Software Inc.; Expensify, Inc.; GB Business Global; Infor, Inc.; and Oracle Corporation are the leading companies operating in the Europe travel and expense management software market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe travel and expense management software market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe travel and expense management software market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the travel and expense management software market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

Product Code: BMIRE00027926

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 Europe Travel and Expense Management Software Market - By Deployment
- 1.3.2 Europe Travel and Expense Management Software Market - By Enterprise Size
- 1.3.3 Europe Travel and Expense Management Software Market - By Industry
- 1.3.4 Europe Travel and Expense Management Software Market - By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Travel and Expense Management Software Market Landscape

4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Europe Travel and Expense Management Software Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Mobile Workforce
- 5.1.2 Hassle-Free Claims and Reimbursements
5.2 Market Restraints
- 5.2.1 Constant Threat of Data Breach
5.3 Market Opportunities
- 5.3.1 Rising Adoption of SaaS Applications
5.4 Future Trends
- 5.4.1 Emergence of Artificial Intelligence (AI) and Machine Learning (ML)
5.5 Impact Analysis of Drivers and Restraints

6. Travel and Expense Management Software Market - Europe Analysis

6.1 Europe Travel and Expense Management Software Market Overview
6.2 Europe Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)

7. Europe Travel and Expense Management Software Market Analysis - By Deployment

7.1 Overview
7.2 Europe Travel and Expense Management Software Market, By Deployment (2021 and 2028)
7.3 On-Premise
- 7.3.1 Overview
- 7.3.2 On-Premise: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Cloud
- 7.4.1 Overview
- 7.4.2 Cloud: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)

8. Europe Travel and Expense Management Software Market Analysis - By Enterprise Size

8.1 Overview
8.2 Europe Travel and Expense Management Software Market, By Enterprise Size (2021 and 2028)
8.4 Small and Medium Enterprises
- 8.4.1 Overview
- 8.4.2 Small and Medium Enterprises: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Large Enterprises
- 8.5.1 Overview
- 8.5.2 Large Enterprises: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)

9. Europe Travel and Expense Management Software Market Analysis - By Industry

9.1 Overview
9.2 Europe Travel and Expense Management Software Market Breakdown, by Industry, 2021 & 2028
9.3 BFSI
- 9.3.1 Overview
- 9.3.2 BFSI Market Revenue and Forecast to 2028 (US$ Million)
9.4 IT and Telecom
- 9.4.1 Overview
- 9.4.2 IT and Telecom Market Revenue and Forecast to 2028 (US$ Million)
9.5 Manufacturing
- 9.5.1 Overview
- 9.5.2 Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
9.6 Healthcare
- 9.6.1 Overview
- 9.6.2 Healthcare Market Revenue and Forecast to 2028 (US$ Million)
9.7 Government and Defense
- 9.7.1 Overview
- 9.7.2 Government and Defense Market Revenue and Forecast to 2028 (US$ Million)
9.8 Transportation and Logistics
- 9.8.1 Overview
- 9.8.2 Transportation and Logistics Market Revenue and Forecast to 2028 (US$ Million)
9.9 Retail
- 9.9.1 Overview
- 9.9.2 Retail Market Revenue and Forecast to 2028 (US$ Million)
9.10 Others
- 9.10.1 Overview
- 9.10.2 Others Market Revenue and Forecast to 2028 (US$ Million)

10. Europe Travel and Expense Management Software Market - Country Analysis

10.1 Overview
- 10.1.1 Europe: Travel and Expense Management Software Market, by Key Country
  - 10.1.1.1 France: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.1.1 France: Travel and Expense Management Software Market, by Deployment
    - 10.1.1.1.2 France: Travel and Expense Management Software Market, by Enterprise Size
    - 10.1.1.1.3 France: Travel and Expense Management Software Market, by Industry
  - 10.1.1.2 Germany: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.2.1 Germany: Travel and Expense Management Software Market, by Deployment
    - 10.1.1.2.2 Germany: Travel and Expense Management Software Market, by Enterprise Size
    - 10.1.1.2.3 Germany: Travel and Expense Management Software Market, by Industry
  - 10.1.1.3 Italy: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.3.1 Italy: Travel and Expense Management Software Market, by Deployment
    - 10.1.1.3.2 Italy: Travel and Expense Management Software Market, by Enterprise Size
    - 10.1.1.3.3 Italy: Travel and Expense Management Software Market, by Industry
  - 10.1.1.4 UK: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.4.1 UK: Travel and Expense Management Software Market, by Deployment
    - 10.1.1.4.2 UK: Travel and Expense Management Software Market, by Enterprise Size
    - 10.1.1.4.3 UK: Travel and Expense Management Software Market, by Industry
  - 10.1.1.5 Russia: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.5.1 Russia: Travel and Expense Management Software Market, by Deployment
    - 10.1.1.5.2 Russia: Travel and Expense Management Software Market, by Enterprise Size
    - 10.1.1.5.3 Russia: Travel and Expense Management Software Market, by Industry
  - 10.1.1.6 Rest of Europe: Travel and Expense Management Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.6.1 Rest of Europe: Travel and Expense Management Software Market, by Deployment
    - 10.1.1.6.2 Rest of Europe: Travel and Expense Management Software Market, by Enterprise Size
    - 10.1.1.6.3 Rest of Europe: Travel and Expense Management Software Market, by Industry

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Partnership Strategy

12. Company Profiles

12.1 Basware Corporation
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Certify, Inc.
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Chrome River Technologies, Inc.
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Coupa Software Inc.
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Expensify, Inc.
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Infor, Inc.
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 GB Business Global
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Oracle Corporation
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Concur Technologies, Inc.
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Word Index