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Dec 2016 - Market Forecast - Doc # US42060515

Worldwide Travel and Expense Management Software Forecast, 2016–2020

Authors: Jordan Jewell, Mickey North Rizza, Alexandros Stratis, Bo Lykkegaard, Kevin Permenter

Abstract

This IDC study examines the market for travel and expense management software that is growing at a very strong pace (with a CAGR of 8.8%; it's expected to reach $2.46 billion by 2020). Demand for public cloud (CAGR of 11.4%) is clearly outpacing that of on-premise/other software (CAGR of -2.3%), with businesses of all sizes and industries adopting T&E applications in the cloud.

"In the past three years, the travel and expense management software market has seen strong growth and adoption, shedding its label as a peripheral ERP application. This shift has occurred due to the availability and lifestyle adaptability of travel and expense applications in the cloud," said Jordan Jewell, research analyst for Enterprise Applications and Digital Commerce with IDC. "As the competitive landscape for travel and expense applications begins to mature, vendors will be required to embed analytics and machine learning into the applications further automating the processes and integration with third-party applications and services encompassing the extended processes."

Coverage

Subscriptions Covered

Digital Commerce , Enterprise Applications , Enterprise Applications and Digital Commerce , European Enterprise Applications

Regions Covered

Worldwide

Topics Covered

Financial resource management, Public cloud services

Referencing Documents

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