Pune, India — 04/26/2018 — Market Highlights:
Currently, the travel management software companies have a very critical role towards the business growth. In order to sustain in the competitive market, many large, medium, and small size companies are looking for collaborations, merger & acquisitions, and joint ventures. In this strategy, companies end up spending more than budget. Consequently,travel management software enables the companies to offer their customers to travel their business trips in affordable budgets is expected to drive the Travel Management Software Market over the forecast period.
The growth of the travel management software companies is expected to have a significant impact on the market. These travel management software companies offer their tools and techniques to optimize their expenditure and enhance their profitability without compromising the quality of services provided by the travel agencies, which eventually provides a hassle-free environment for the business travelers. Increasing numbers of small and medium-sized enterprises and business travel in the evolving markets are expected to drive the travel management software market. Surging demand for the cloud based technology is expected to propel the travel management software market over the forecast period
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Geographically, the travel management software is categorized into North America, Europe Asia-Pacific and Rest of the World. The North American market is expected to be the prominent region in the travel management software owing to the presence of big giants of technologies such as Oracle Corporation, Nexonia and SAP concur in the U.S. and Canada. Furthermore, increasing number of small startups in the emerging economies such as China, India, and South Korea of APAC region is projected to boost the global travel management software market growth China, one of the manufacturing based on economies of the world has supposed to be the leading country in the APAC region. This is attributed to large number of small and medium manufacturing companies associated with the low-cost labor. Therefore, the manufacturing segment is anticipated to drive the market in this region. Additionally, e-commerce is a growing sector across the globe, which currently has fastened the logistics supply and delivers the goods to the customer on time. Consequently, the retail& logistics segment is expected to have a significant growth in the travel management software market over the review period 2017-2023.
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.).
Travel management software market has been bifurcated into component, deployment, industry, application, and organization.
Travel management software market has been categorized based on components, which includes solution and services. Based on the solutions, the market is further segmented into business intelligence, integrations, customer experience. Based on the services, the market is categorized into professional services and managed services. Moreover, the managed services segment is categorized into application management, consulting services, and service& support .The professional services is differentiated into financial management, business performance management. Based on the deployment, the market is categorized into on-premises and on- clouds.
– Based on the industry, the market is classified into manufacturing, transportation, retail& logistics, healthcare, and energy..
– Application segment has been categorized into the internet, mobile applications, and computer system.
– Based on the organization, the market has been categorized into large, small, and medium enterprises.
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– Travel management software provider.
– Software Solution providers
– Small and Medium Enterprises
– Travel Agencies
– Tour operators
– Research Firms
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