Expense Management Software Market 2020 Global Leaders Analysis: Intuit, Zoho, Sodexo, Expensify, Infor, Insperity, Xero Limited, Oracle, Workday
Market Research Future (MRFR), in its latest the expense management software market 2020 states long and short term COVID-19 Impact on Expense Management Software Market. The expense management software market size across different regions are likely to be largely influence due to coronavirus pandemic. MRFR studied for growth prospects of the expense management software market across the forecast period 2018-2025. In 2018, the expense management software market valued at USD 2,349.1 Mn. By the end of the review period, the expense management software market global market can value at USD 6,599.2 Mn by 2025 at 12.4% CAGR in the forecast period.
Expense management software tools aid enterprises to streamline and automate process to deliver expense report management across the assessment period. Advantages, such as significant reduction in time and efforts for effortless submission, approval, and employee expense reports processing, with reimbursing expenses reports and their growing advantages can boost the expansion of the world expense management software market.
On the downside, the lack of security concerns and interoperability can deter the growth pace of the market across the review period. The broader expense portals access by using mobile applications, along with the rise in demand for visibility towards expenditure are creating numerous opportunities for the market to expand at a tremendous pace in the years to come.
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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.
The segment study of the expense management software market across the region are type and end-user.
The type-based, the expense management software market segments are mobile terminal, PC terminal, and others. The PC terminal segment can lead the expense management software market across the review period and secure 74% share of the world market by 2025. The mobile terminal segment can attain USD 2,250.8 Mn by 2025.
The end-user based, the expense management software market segments are midsized businesses, large businesses, and small businesses. The growing adoption of expense management software by large enterprises can cause the large businesses segment to attain 67% share of the expense management software market by 2025. The segment cab value at USD 4,193.0 Mn by 2025 at 11.6% CAGR through the review period.
In MRFR regional analysis report on the global expense management market, North America expense management software market, led by the US can boost the expansion of the regional market exponentially. The market of expense management software in the North America region can surge at a high pace in the review period. As per MRFR findings North America expense management software market valuation, in 2017, was recorded at USD 1,043.2 Mn. By 2025, the regional expense management software market value can touch USD 2,510.3 Mn at 12.0% CAGR through 2018 to 2025. In APAC region, the expense management software market value can increase to USD 593.3 Mn on the conclusion of the review period at 14.1% CAGR. The rapid expansion of the expense management software market in the region can be attributed to the pressing need for expense management solutions due to increase in per capita income in the region. In Europe, the expense management software market can escalate from USD 721.9 Mn in 2017 to USD 1,615.5 Mn by 2025 at 11.0% CAGR by the end of evaluation period.
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