Europe Travel and Expense Management Software Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The Europe travel and expense management software market was valued at approximately USD 1,182.54 million in 2023 and is projected to grow to USD 3,774.30 million by 2031, reflecting a compound annual growth rate (CAGR) of 15.6% during the forecast period from 2023 to 2031.

Drivers of Market Growth

The increasing adoption of cloud-based expense management solutions is a significant factor propelling the growth of the travel and expense management software market in Europe. Organizations worldwide are leveraging advanced software to automate their travel and expense management processes, thereby minimizing manual tasks. Cloud-based solutions are particularly favored as they streamline the management of business expenses through automation. These systems facilitate the entire expense management workflow, from expense tracking to reimbursement processing, which enhances the demand for such software among businesses seeking to accurately monitor their financial activities.

For example, in January 2023, Uber for Business partnered with Coupa Software to enhance expense automation. This collaboration marked the first instance of a business spend management (BSM) platform utilizing Uber for Business's Receipts API to automate expense reporting. By automatically generating expense reports with receipts for Uber rides, this integration eliminates the need for employees to manually collect and attach receipts, thus saving time and reducing the likelihood of compliance errors. Additionally, cloud-based expense management software offers users real-time updates on the status of their expense claims and allows access to management tools from any location, which is particularly beneficial for field managers and accounting teams.

Market Overview

The Europe travel and expense management software market is primarily driven by key countries such as Germany, France, the UK, Italy, Russia, and other regions within Europe. This area is home to numerous prominent IT companies, and businesses are increasingly adopting digital transformation strategies by moving from traditional manual processes to automated, cloud-based solutions. The integration capabilities of travel and expense management software with other enterprise resource planning (ERP) systems and accounting tools make it an attractive option for organizations aiming to enhance operational efficiency. Furthermore, compliance with the General Data Protection Regulation (GDPR) is a critical consideration, as this regulation imposes strict data privacy and security requirements on businesses targeting or collecting data from EU citizens. Travel and expense management software can assist organizations in adhering to these regulations.

Market Segmentation

The Europe travel and expense management software market can be segmented based on deployment mode, organization size, industry, and country:

1. Deployment Mode: The market is divided into on-premises and cloud-based solutions, with the cloud segment holding a larger market share in 2023.

2. Organization Size: The market is categorized into large enterprises and small & medium enterprises (SMEs), with large enterprises dominating the market share in 2023.

3. Industry: The market is segmented into various industries, including Banking, Financial Services, and Insurance (BFSI), IT and Telecom, manufacturing, healthcare, government and defense, retail, transport and logistics, among others. The BFSI sector accounted for the largest share of the market in 2023.

4. Country: The market is further segmented by country, including the UK, Germany, France, Italy, Russia, and the Rest of Europe, with the UK leading the market share in 2023.

Key Players in the Market

Several prominent companies are active in the Europe travel and expense management software market, including:

Basware Corporation
Coupa Software Inc
DATABASICS Inc
Ellucian Company LLC
Emburse, Inc.
Expensify, Inc.
Fyle Technologies Private Limited
GB Business Global
Global Business Travel Group Inc
Infor Inc
Kissflow Inc
Navan, Inc.
Oracle Corp
Oversight, Inc
SAP SE
TravelPerk S.L.U.
VA Tech Ventures Private Limited (Happay)
VV Finly Technology Pvt Ltd
Zaggle Prepaid Ocean Services Limited
Zoho Corp Pvt Ltd

These companies are at the forefront of providing innovative solutions in the travel and expense management software market, contributing to its growth and evolution.

Product Code: BMIRE00027926

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:
3.3 Assumptions and Limitations

4. Europe Travel and Expense Management Software Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain
4.4 Top Trends In Travel and Expense Management Software
- 4.4.1 Cloud Based Solutions
- 4.4.2 Mobile Expense Management
- 4.4.3 AI and Machine Learning Integration
- 4.4.4 Enhanced Policy Compliance and Fraud Detection
- 4.4.5 Internet of Things and Expense Tracking

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

5.1 Europe Travel and Expense Management Software Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growing Demand for Real-Time Travel and Expense Tracking Software
- 5.2.2 Increasing Adoption of Cloud-Based Expense Management Software
- 5.2.3 Growing Focus on Product Development
5.3 Market Restraints
- 5.3.1 Growing Data Security Concerns Among Customers
5.4 Market Opportunities
- 5.4.1 Development of AI-Powered Travel and Expense Management Software
5.5 Future Trends
- 5.5.1 Expanding Travel Tech Companies Worldwide
5.6 Impact of Drivers and Restraints:

6. Europe Travel and Expense Management Software Market - Analysis

6.1 Europe Travel and Expense Management Software Market Revenue (US$ Million), 2021-2031
6.2 Europe Travel and Expense Management Software Market Forecast Analysis

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

7.1 On-Premise
- 7.1.1 Overview
- 7.1.2 On-Premise: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Cloud
- 7.2.1 Overview
- 7.2.2 Cloud: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. Europe Travel and Expense Management Software Market Analysis - by Organization Size

8.1 Large Enterprises
- 8.1.1 Overview
- 8.1.2 Large Enterprises: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Small and Medium Enterprises
- 8.2.1 Overview
- 8.2.2 Small and Medium Enterprises: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)

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

9.1 BFSI
- 9.1.1 Overview
- 9.1.2 BFSI: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 IT and Telecom
- 9.2.1 Overview
- 9.2.2 IT and Telecom: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Manufacturing
- 9.3.1 Overview
- 9.3.2 Manufacturing: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.4 Healthcare
- 9.4.1 Overview
- 9.4.2 Healthcare: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.5 Government and Defense
- 9.5.1 Overview
- 9.5.2 Government and Defense: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.6 Retail
- 9.6.1 Overview
- 9.6.2 Retail: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.7 Transport and Logistics
- 9.7.1 Overview
- 9.7.2 Transport and Logistics: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.8 Others
- 9.8.1 Overview
- 9.8.2 Others: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)

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

10.1 Europe
- 10.1.1 Europe Travel and Expense Management Software Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.1 Europe Travel and Expense Management Software Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 United Kingdom: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.2.1 United Kingdom: Europe Travel and Expense Management Software Market Share - by Deployment Mode
    - 10.1.1.2.2 United Kingdom: Europe Travel and Expense Management Software Market Share - by Organization Size
    - 10.1.1.2.3 United Kingdom: Europe Travel and Expense Management Software Market Share - by Industry
  - 10.1.1.3 Germany: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.3.1 Germany: Europe Travel and Expense Management Software Market Share - by Deployment Mode
    - 10.1.1.3.2 Germany: Europe Travel and Expense Management Software Market Share - by Organization Size
    - 10.1.1.3.3 Germany: Europe Travel and Expense Management Software Market Share - by Industry
  - 10.1.1.4 France: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.4.1 France: Europe Travel and Expense Management Software Market Share - by Deployment Mode
    - 10.1.1.4.2 France: Europe Travel and Expense Management Software Market Share - by Organization Size
    - 10.1.1.4.3 France: Europe Travel and Expense Management Software Market Share - by Industry
  - 10.1.1.5 Italy: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.5.1 Italy: Europe Travel and Expense Management Software Market Share - by Deployment Mode
    - 10.1.1.5.2 Italy: Europe Travel and Expense Management Software Market Share - by Organization Size
    - 10.1.1.5.3 Italy: Europe Travel and Expense Management Software Market Share - by Industry
  - 10.1.1.6 Russia: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.6.1 Russia: Europe Travel and Expense Management Software Market Share - by Deployment Mode
    - 10.1.1.6.2 Russia: Europe Travel and Expense Management Software Market Share - by Organization Size
    - 10.1.1.6.3 Russia: Europe Travel and Expense Management Software Market Share - by Industry
  - 10.1.1.7 Rest of Europe: Europe Travel and Expense Management Software Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.7.1 Rest of Europe: Europe Travel and Expense Management Software Market Share - by Deployment Mode
    - 10.1.1.7.2 Rest of Europe: Europe Travel and Expense Management Software Market Share - by Organization Size
    - 10.1.1.7.3 Rest of Europe: Europe Travel and Expense Management Software Market Share - by Industry

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.2 New Product Development
12.3 Mergers & Acquisitions

13. Company Profiles

13.1 Basware Corporation
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Coupa Software Inc
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 DATABASICS Inc.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Kissflow Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Navan, Inc.
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Expensify, Inc.
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Infor Inc
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 GB Business Global
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Oracle Corp
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 SAP SE
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
13.11 Zoho Corp Pvt Ltd
- 13.11.1 Key Facts
- 13.11.2 Business Description
- 13.11.3 Products and Services
- 13.11.4 Financial Overview
- 13.11.5 SWOT Analysis
- 13.11.6 Key Developments
13.12 Global Business Travel Group Inc
- 13.12.1 Key Facts
- 13.12.2 Business Description
- 13.12.3 Products and Services
- 13.12.4 Financial Overview
- 13.12.5 SWOT Analysis
- 13.12.6 Key Developments
13.13 VA Tech Ventures Private Limited ("Happay")
- 13.13.1 Key Facts
- 13.13.2 Business Description
- 13.13.3 Products and Services
- 13.13.4 Financial Overview
- 13.13.5 SWOT Analysis
- 13.13.6 Key Developments
13.14 VV Finly Technology Pvt Ltd
- 13.14.1 Key Facts
- 13.14.2 Business Description
- 13.14.3 Products and Services
- 13.14.4 Financial Overview
- 13.14.5 SWOT Analysis
- 13.14.6 Key Developments
13.15 Oversight, Inc.
- 13.15.1 Key Facts
- 13.15.2 Business Description
- 13.15.3 Products and Services
- 13.15.4 Financial Overview
- 13.15.5 SWOT Analysis
- 13.15.6 Key Developments
13.16 TravelPerk S.L.U.
- 13.16.1 Key Facts
- 13.16.2 Business Description
- 13.16.3 Products and Services
- 13.16.4 Financial Overview
- 13.16.5 SWOT Analysis
- 13.16.6 Key Developments
13.17 Zaggle Prepaid Ocean Services Limited
- 13.17.1 Key Facts
- 13.17.2 Business Description
- 13.17.3 Products and Services
- 13.17.4 Financial Overview
- 13.17.5 SWOT Analysis
- 13.17.6 Key Developments
13.18 Fyle Technologies Private Limited
- 13.18.1 Key Facts
- 13.18.2 Business Description
- 13.18.3 Products and Services
- 13.18.4 Financial Overview
- 13.18.5 SWOT Analysis
- 13.18.6 Key Developments
13.19 Emburse, Inc.
- 13.19.1 Key Facts
- 13.19.2 Business Description
- 13.19.3 Products and Services
- 13.19.4 Financial Overview
- 13.19.5 SWOT Analysis
- 13.19.6 Key Developments
13.20 Ellucian Company LLC
- 13.20.1 Key Facts
- 13.20.2 Business Description
- 13.20.3 Products and Services
- 13.20.4 Financial Overview
- 13.20.5 SWOT Analysis
- 13.20.6 Key Developments

14. Appendix

14.1 Glossary
14.2 About The Insight Partners