Currently, the travel management software companies have a very critical role towards the business growth. In order to sustain in the competitive market, many large, medium, and small size companies are looking for collaborations, merger & acquisitions, and joint ventures. In this strategy, companies end up spending more than budget. Consequently,travel management software enables the companies to offer their customers to travel their business trips in affordable budgets is expected to drive the Covid-19 Impact on Travel Management Software Market over the forecast period.
The growth of the travel management software companies is expected to have a significant impact on the market. These travel management software companies offer their tools and techniques to optimize their expenditure and enhance their profitability without compromising the quality of services provided by the travel agencies, which eventually provides a hassle-free environment for the business travelers. Increasing numbers of small and medium-sized enterprises and business travel in the evolving markets are expected to drive the travel management software global market. Surging demand for the cloud based technology is expected to propel the travel management software market over the forecast period
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The travel management software Global market is geographically differentiated into North America, Asia Pacific, Europe, Latin-America, and RoW.
North America is expected to lead the travel management software market at a significant growth rate due to advanced IT infrastructure and the presence of key players such as SAP Concur, Net-suite DATABASIC, and Oracle Corporation. Countries such as the U.S., Canada, and Mexico are the prominent players in the market. Recently, Oracle Corporation has been selected by Green Mountain Higher Education Consortium (GMHEC) to upgrade their critical human resource and finance process to enhance customer satisfaction levels.
The Asia Pacific region is anticipated to have a prominent growth in the global travel management software market. Japan, South Korea, China, and India are anticipated to be the most prominent countries in this region. Furthermore, increasing number of small and medium-sized IT startups in India associated with Start-up and Stand up India campaigns is expected to drive the travel management software market.
The major players include Concur (SAP) (U.S.), Certify (Portland), Expensify (U.S.), Chrome River Technologies (U.S.), Infor(U.S.) are the leading technologies of the travel management software.
The other prominent market players include Appricity Corporation (U.S.), Ariett (U.S.), Basware (Finland), DATABASIC (U.S.), Expense 8 (Australia), Fraedom (U.K), Oracle Corporation (Calfornia, U.S.), NetSuite (Calfornia, U.S.), Skyjunxion, (Beirut) Trippeo Technologies (Canada), Insperity (U.S.), Interpix, (U.S.) Unit 4 (Netherlands), Nexonia (Canada), Paychex (U.S.).
Travel management software market has been bifurcated into component, deployment, industry, application, and organization.
Travel management software market has been categorized based on components, which includes solution and services. Based on the solutions, the market is further segmented into business intelligence, integrations, customer experience. Based on the services, the market is categorized into professional services and managed services. Moreover, the managed services segment is categorized into application management, consulting services, and service& support .The professional services is differentiated into financial management, business performance management. Based on the deployment, the market is categorized into on-premises and on- clouds.
- Based on the industry, the market is classified into manufacturing, transportation, retail& logistics, healthcare, and energy..
- Application segment has been categorized into the internet, mobile applications, and computer system.
- Based on the organization, the market has been categorized into large, small, and medium enterprises.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Travel Management Software Market
5 Industry Overview Of Global Travel Management Software Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
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