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SaaS-based Expense Management Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
SaaS-based Expense Management Market Size
The rise in business travel is expected to drive the growth of the SaaS-based expense management market. Business travel, which includes travel for meetings, conferences, and client visits, is increasing as companies expand their global reach. SaaS expense management platforms help businesses track and manage employee spending during business trips, ensuring adherence to company policies. For instance, in July 2024, the Global Business Travel Association projected a rise of 11.1% in global business travel spending in 2024, following significant growth in 2022 and 2023. Therefore, the growth in business travel is supporting the SaaS-based expense management market.
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How will the growth rate of the saas-based expense management market shape industry trends by 2034?
The SaaS-based expense management market has seen rapid growth. It is projected to grow from $5.6 billion in 2024 to $6.55 billion in 2025, with a CAGR of 16.9%. Growth drivers include the adoption of cloud technology, increased remote work, business travel growth, demand for real-time reporting, and a stronger focus on employee experience.
The SaaS-based expense management market is expected to grow rapidly, reaching $12.05 billion by 2029 at a CAGR of 16.5%. Growth drivers include AI adoption, a focus on data security, and the rise in mobile-first solutions. Major trends will include AI-driven tools, role-based access controls, and cloud-based solutions.
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What trends are poised to drive the future success of the saas-based expense management market?
Major companies in the SaaS-based expense management market are focusing on advanced solutions like DIY expense automation platforms to help businesses optimize their expense management. These platforms allow organizations to automate expense tracking and reporting without needing technical expertise. For example, in June 2023, Zaggle Prepaid Ocean Services Pvt. Ltd., an India-based software company, introduced XPNS. This DIY SaaS platform automates employee expenses, reducing processing costs and enhancing financial savings by automating the entire expense management process.
Which primary segments of the saas-based expense management market are driving growth and industry transformations?
The SaaS-based expense management market covered in this report is segmented -
1) By Type: Travel And Expense Management, Telecom Expense Management
2) By Component: Solution, Services
3) By Deployment: On Cloud, On Premise
4) By Enterprise Size: Large Enterprise, Small And Medium Scale Enterprise
5) By Industry Vertical: Manufacturing, Media And Entertainment, Healthcare, Travel And Tourism, Energy And Utility, Information Technology And Telecommunication, Retail And E-commerce, Banking, Financial Services And Insurance (BFSI), Government And Public Sector, Other Industry Verticals
Subsegments:
1) By Travel And Expense Management: Corporate Travel Expense Management, Employee Reimbursement Management
2) By Telecom Expense Management: Mobile Expense Management, Fixed Line Expense Management
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Which geographical regions are pioneering growth in the saas-based expense management market?
North America was the largest region in the SaaS-based expense management market in 2023. The regions covered in the SaaS-based expense management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the saas-based expense management market landscape?
Major companies operating in the SaaS-based expense management market are International Business Machines Corporation, Oracle Corporation, SAP SE, Insperity Inc., Paychex Inc., Infor Global Solutions Inc., Zoho Corporation Pvt. Ltd., Paylocity Corporation, Coupa Software Inc., Xero Limited, Paycor Inc., Emburse Inc., Abacus Labs Inc., Expensify Inc., Divvy Payments Inc., Concur Technologies Inc., Chrome River, Rydoo NV, Nexonia Inc., CyberShift Inc., Expensya SAS, Apptricity Corporation, SutiSoft Inc., Wave Financial Inc.
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What Is Covered In The SaaS-based Expense Management Global Market Report?
•Market Size Forecast: Examine the saas-based expense management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the saas-based expense management market for a structured understanding.
•Key Players Overview: Analyze major players in the saas-based expense management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the saas-based expense management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the saas-based expense management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the saas-based expense management market.
•Industry Challenges: Identify potential risks and obstacles affecting the saas-based expense management market.
•Competitive Landscape: Review strategic developments in the saas-based expense management market, including expansions, agreements, and new product launches.
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