Travel Management Software Market Segmentation by Application (Phones, Computer Systems, and Web); by Organization Size (Large Enterprises, Small and Medium Enterprises); by Deployment Type (Cloud-based and On-premises); by Industry (Transportation, Healthcare, Retail and Logistics, Manufacturing, and Energy)-Global Demand and Analysis and Opportunity Outlook 2031

Global Travel Management Software Market Highlights over 2022-2031

The global travel management software market is anticipated to reach approximately USD 3 Billion in revenue by 2031 by growing at ~11% CAGR throughout the forecast period, i.e., 2022 – 2031. The factors contributing to the growth of this market are escalating use of mobile phones and the increasing stipulation of end-to-end mobility solutions. For instance, in the year 2020, Uber’s global earnings reached approximately USD 60 Billion.

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The majority of organizations are adopting cloud-based technology which is a significant factor in the development of this market. Companies use this software to supervise their workforce's travel arrangements and budgets. This mechanism helps the organization to layout travel for their employees at the best deals. 

However, security and privacy concerns in companies may hamper the market growth. It might take a lot of effort to make the software 100% secure in data and privacy. In spite of that, the demand for travel management software is expected to grow significantly as this software facilitates the businesses worldwide to plan flexible tours at reduced costs.

The market is segmented by deployment type into cloud-based and on-premises. Among these, the cloud-based segment is expected to hold the largest share over the forecast period owing to rising demand for work from home and hybrid culture, and beneficial features of cloud that allow users to store, access, and process data on remote servers.

The market is further segmented on the basis of application into phones, web, and computer systems. Among these, the phones segment holds the largest share owing to their portability and ease to use.

Global Travel Management Software Market Regional Synopsis

Regionally, the global travel management software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America region is estimated to generate the leading revenue by growing at a CAGR of about 6% during the forecast period owing to high demand for travel management solutions on the back of a large number of traveling employees. 

Latin America region is anticipated to hold the second-largest share of the global market and expects exponential growth over the forecast period on the back of organizations in the region that are investing in new technologies rapidly. Countries, such as Brazil and Argentina, have undergone a major advancements in technology in recent years.

Market Segmentation

Our in-depth analysis of the global travel management software market includes the following segments:

By Deployment Type

• Cloud-based

• On-premises

By Application

• Phones

• Computer Systems

• Web

By Organization Size

• Large Enterprises

• Small and Medium Enterprises

By Industry

• Transportation

• Healthcare

• Retail and Logistics

• Manufacturing

• Energy

Growth Drivers and Challenges Impacting the Growth of the Global Travel Management Software Market

Growth Drivers

• Augmenting usage of mobile phones in workforce

• Cost reduction intent of the organizations

• Need for hassle-free reimbursement claims

Challenges

• Security and privacy concerns

Key Companies Dominating the Global Travel Management Software Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global travel management software market that are included in our report are Rydoo, Juniper Innovating Travel Technology, Bookinglayer, CLARCITY Travel & Expense, Egencia LLC, SAP, TravelPerk S.L.U, Deem Inc., TravelBank (Travelator Inc.), and others.  

Latest Developments in the Global Travel Management Software Market:

• April 2022: Booking.com recognized RateGain Travel Technologies Limited (RateGain), a global provider of SaaS solutions for travel and hospitality, as a Premier Connectivity Partner for the fifth year in a row.

• March 2022: Corporate Travel Software Leader, Deem Inc., suspended its legacy mobile corporate travel software, Work Fource, and is encouraging customers to download its newest mobile app, Etta, which travelers can access using their existing credentials.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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