Travel And Expense Management Software Market Summary

The global travel and expense management software market size was estimated at USD 3.75 billion in 2023 and is projected to reach USD 10.69 billion by 2030, growing at a CAGR of 16.9% from 2024 to 2030. The market’s growth is primarily fueled by the increasing penetration of mobile devices, rising demand for minimizing operating costs, and the need for streamlined reimbursement processes.

In addition to these factors, the rapid expansion of travel technology companies presents significant growth opportunities, contributing further to the market's upward trajectory. Travel and expense management software is specifically developed to automate and oversee a wide array of processes associated with corporate travel and business-related expenses. These software solutions are extensively procured and implemented by enterprises and organizations aiming to enhance operational efficiency. The market encompasses the development, distribution, and integration of tailored software products that assist businesses in managing travel logistics, monitoring expense patterns, and refining financial workflows.

Key Market Trends & Insights

• In 2023, the hosted segment accounted for the largest revenue share of 63.0%. Hosted or cloud-based solutions provide organizations with the ability to manage travel-related expenses while minimizing upfront IT infrastructure costs. These cloud platforms enable scalable and low-maintenance operations, offering greater flexibility and cost efficiency for businesses of all sizes.
• The large enterprises segment emerged as the leading contributor to revenue in 2023. These enterprises typically experience high volumes of corporate travel, necessitating advanced software tools for automating expense management, improving reporting accuracy, and ensuring policy adherence. The integration of such solutions helps large businesses control expenditure and comply with internal and external regulatory standards.
• Conversely, the SMEs segment is projected to grow at the fastest CAGR during the forecast period. Small and medium-sized enterprises often lack dedicated resources for managing travel and related expenses, leading to inefficiencies and inaccuracies in manual processes. The deployment of travel and expense management software in this segment allows these businesses to automate expense tracking, accelerate reimbursement workflows, and enforce travel policy compliance without significant administrative burden.
• In regional terms, North America held the highest market revenue share of 37.0% in 2023. The regional growth is supported by the increasing demand for financial accountability, corporate transparency, and cost control within business operations. Companies in North America are progressively adopting travel and expense management software to simplify business travel oversight, ensure adherence to organizational policies, and meet government-imposed financial regulations.
• The United States led the North American market with the highest revenue share in 2023. Businesses in the U.S. actively seek technology solutions that simplify travel bookings, automate the processing of expense claims, and maintain compliance with internal governance policies.
• The European market is anticipated to register notable growth in the forecast period. Countries such as Germany, France, and the United Kingdom are focusing on boosting organizational efficiency and conforming to strict financial guidelines, further accelerating software adoption across industries in the region.
• Asia Pacific is expected to witness the fastest CAGR from 2024 to 2030. The rise in corporate establishments and increasing frequency of business travel within the region are key contributors to this growth. Additionally, growing digital transformation efforts across industries, paired with the need for efficient automation of complex travel and expense protocols, are bolstering demand in countries across Asia Pacific.

Order a free sample PDF of the Travel And Expense Management Software Market Intelligence Study, published by Grand View Research.

Market Size & Forecast

• 2023 Market Size: USD 3.75 Billion
• 2030 Projected Market Size: USD 10.69 Billion
• CAGR (2024-2030): 16.9%
• North America: Largest market in 2023
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Prominent players in the travel and expense management software market include Chrome River Technologies Inc.; Concur Technologies, Inc.; GBT Travel Services U.K. Limited; Infor; Oracle; and others.

• Concur Technologies, Inc. delivers a comprehensive range of travel and expense solutions that enhance operational efficiency. Their primary offerings include Concur Expense for automating expense submissions, Concur Travel for compliant travel bookings, and Concur Invoice to streamline accounts payable processes. Additional tools such as ExpenseIt for capturing receipts, TripIt Pro for creating detailed itineraries, and Concur Detect for audit assistance enable better compliance, control, and transparency in corporate spending.
• Chrome River Technologies Inc. provides powerful software designed to optimize travel and expense workflows. Their solutions integrate with numerous travel management companies and booking platforms, support real-time reporting, and incorporate traveler safety measures through partners like WorldAware. The software automates compliance verifications and itemization tasks, while mobile functionality ensures convenience and efficiency in expense handling.

Key Players

• Chrome River Technologies Inc.
• Concur Technologies, Inc.
• GBT Travel Services U.K. Limited
• Infor
• Oracle
• Oversight
• Sodexo
• Happay
• VV Finly Technologies Pvt. Ltd.
• Zoho Corporation Pvt. Ltd.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The global travel and expense management software market is poised for strong expansion, supported by growing digital adoption, increasing corporate travel, and rising demand for automation in financial processes. Businesses, both large and small, are actively turning to these solutions to optimize expense tracking, ensure regulatory compliance, and improve operational efficiency. The dominance of cloud-based platforms and rapid technological innovations continue to reshape the landscape of financial management tools. Regionally, North America and Asia Pacific are key growth engines. With leading companies offering feature-rich and scalable software, the market is set to evolve into a vital component of enterprise financial infrastructure.