Business Travel Fuels SaaS Expense Management Market: Strategic Insights Driving SaaS-based Expense Management Market Momentum in 2025

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What Will the SaaS-based Expense Management Industry Market Size Be by 2025?
The market size for saas-based expense management has seen swift expansion in the past few years, and it is expected to surge from $5.6 billion in 2024 to $6.52 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 16.4%. The progression during the historic period is due to numerous factors, including the rising adoption of cloud technology, a surge in teleworking trends, an increase in business travel, greater demand for immediate reporting, and heightened attention to the employee experience.

What's the Long-Term Growth Forecast for the SaaS-based Expense Management Market Size Through 2029?
The market size of saas-based expense management is predicted to surge significantly in the upcoming years, reaching up to $11.5 billion in 2029 with a compound annual growth rate (CAGR) of 15.2%. The surge during the prediction period could result from the increasing acceptance of AI, heightened prioritization of data security, growing emphasis on cost optimization, surging subscriptions to various models, and increasing demands for mobile expense management. The forecast period is likely to witness trends such as artificial intelligence, mobile-first solutions, advancements in technology, role-based access restrictions, and solutions based in the cloud.

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What Are the Key Growth Drivers Fueling the SaaS-based Expense Management Market Expansion?
The SaaS-based expense management market looks set to expand, driven by a surge in business travel. Business travel encompasses all travel undertaken by company employees or representatives for work-related reasons, which could be anything from meetings and conferences to client visits, training sessions and sales pitches. SaaS Expense Management systems uphold corporate expense policies by identifying non-adherent expenses and delivering instant notifications and alerts to staff and managers. This ensures costs accrued during business travel are in line with company policies and budgets. For example, the Global Business Travel Association, a leading US business travel and meetings organization, predicted in July 2024 that global business travel expenditure would increase by 11.1% in 2024, after substantial year-on-year increases of between 30% and 47% in 2022 and 2023. After that, growth is expected to slow down gradually, resulting in a compound annual growth rate of 6.95% from 2025 to 2028. Hence, the surge in business travel is fuelling the growth of the SaaS-based expense management market.

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What Are the Key Trends Driving SaaS-based Expense Management Market Growth?
Prominent enterprises functioning in the SaaS-based expense management market are strategically concentrating on launching smart and sophisticated solutions like DIY expense automation platforms. These platforms are intended to aid firms in streamlining their expense management procedures. DIY expense automation platforms are software solutions that simplify expense management and reporting for both individuals and firms without needing advanced technical expertise or external support. For example, Zaggle Prepaid Ocean Services Pvt. Ltd., a software firm based in India, unveiled XPNS in June 2023. XPNS is a self-service software as a service platform designed to automate employee expenses, intending to reduce expense processing costs, improve cash flow projections, and create financial savings for companies. This intuitive platform simplifies the entire expense management procedure from submission to payment, allowing businesses to switch from totally manual to entirely automated expense workflows in under 30 minutes, thus reducing the expense management duration and costs by 75%.

How Is the SaaS-based Expense Management Market Segmented?
The saas-based expense managementmarket 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 Companies Are Leading the Charge in SaaS-based Expense Management Market Innovation?
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.

Which Regions Are Leading the Global SaaS-based Expense Management Market in Revenue?
North America was the largest region in the SaaS-based expense management market in 2024. 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.

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