Expense Management Software Market 2018 Global Leaders Overview: Insperity, Intuit, Expensify, Xero Limited, Coupa Software, Sodexo, SAP Concur, Workday

Market Research Future published a research report on “Expense Management Software Market Research Report - Global Forecast to 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2025.

Market Overview

Expense management software is considered one of the imperative financial management software tools which assists enterprises automate and streamline the process of expense report management as well as approval. The software helps in significantly reducing time and efforts that are generally required for submitting, approving, and processing employee expense reports, along with reimbursing the expenses. One of the key aspects that encourages growth is to manage as well as curtail enterprise expenses in a time-efficient and systematic manner. Thus, small and medium-sized enterprises along with large enterprises are now adopting expense management software for increasing organizational efficiency by controlling expenses and automating the process of expense reporting.

The Expense Management Software Market is predicted to depict better growth prospects during the forecast period (2018-2025). It had reached the value of USD 2,349.1 million in 2015 and is expected to touch the valuation of USD 6,599.2 million by 2025. The market is projected to depict a vibrant CAGR of 12.4% during the forecast period.

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The centralization of expense-related data in enterprises has been beneficial for the growth of the market. Monitoring of employee expenditure as well as controlling costs, increasing productivity, scalability coupled with improving financial security. Continuous developments in network technologies such as 3G, 4G/LTE, combined with emergence of 5G has been vital to the continuously increasing adoption of smartphones and mobile-based applications. Thus, reduction of the prices of smartphones, in addition to the increased disposable income of consumers has resulted in the rapid adoption of smartphones, and subsequent adoption of expense management software.
However, lack of interoperability and security concerns can hamper market growth. With that said, broader access to expense portals using mobile applications coupled with the increase in demand for visibility into expenditure is bound to offer numerous opportunities for the market to grow at a tremendous pace in the coming years.

Key Players

The prominent vendors in the global expense management software market include Workday Inc. (U.S.), SAP Concur (U.S.), IBM Corporation (U.S.), Intuit Inc. (U.S.), Zoho Corporation Pvt. Ltd (India), Sodexo (France), Expensify (U.S.), Infor Inc. (U.S.), Insperity (U.S.), Xero Limited (New Zealand), Oracle (U.S.), Coupa Software Inc. (U.S.) and others.

Segments:

The global expense management software market is segmented on the basis of type and end-user.

• Depending on the type, the global expense management software market is segmented into PC terminal, mobile terminal, and others. Among these, the PC terminal segment was leading the expense management software market, accounting for the market share of 74%, in the year 2017. Whereas, the mobile terminal segment is striving to attain the valuation of USD 2,250.8 million by 2025.
• By end-user, the market caters to small businesses, midsized businesses, and large businesses. Among these, large enterprises grabbed the lion’s share in the global expense management software market, acquiring the market share of 67% in 2017. The segment is predicted to obtain the value of USD 4,193.0 million by the end of year 2025, growing at a CAGR of 11.6% during the review period.

Regional Analysis

The report consists of the region-wise analysis of the global expense management software market in the major regions of the United States (U.S.), Japan, China, Southeast Asia, and India.

US was dominating the global expense management software market with market share of 39% in the year 2017 and valued at USD 1,043.2 million in the year 2017. The market is expected to grow at USD 2,510.3 million by the end of year 2025 with 12.0% CAGR from 2018 to 2025.

The India expense management software market is expected to grow to USD 593.3 million by the end of year 2025 at a CAGR of 14.1% and likely to be the fastest growing region during the forecast period. Europe stands as the second largest market with market share of 27% in the year 2017 and valued at USD 721.9 million in 2017 and is expected to reach USD 1,615.5 million with a CAGR of 11.0%by the end of forecast period.

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Intended Audience

• technology Investors
• research/consultancy firms
• technology solution providers
• government bodies
• financial institutes

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