Asia-Pacific Travel and Expense Management Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small and Medium Enterprises), and Industry (BFSI, IT and Telecom, Manufacturing, Healthcare, Government and Defense, Transport and Logistics, Retail, and Others)

The Asia-Pacific travel and expense management software market is expected to grow from US$ 780.20 million in 2022 to US$ 1,333.96 million by 2028. It is estimated to grow at a CAGR of 9.4% from 2022 to 2028.

Emergence of Artificial Intelligence (AI) and Machine Learning (ML) is Driving the Asia-Pacific Travel and Expense Management Software Market

The use of machine learning (ML) and artificial intelligence (AI) with travel and expense management software provides simplification and efficiency in managing expenses. AI can reduce or eliminate the chances of fraud by examining the authenticity of the expenses submitted by employees. Owing to the increasing volume of travel and expense reports submitted by the employees every year, finance departments face difficulties in auditing these reports in detail. Artificial intelligence is used by various enterprises to perform an audit trail and automated policy check. AI also helps in eliminating manual intervention by analyzing suspicious expenses. The use of AI in travel and expense software also helps extract necessary information from the receipt. As a result, employees can save time spent on entering all the required information, thus improving efficiency, and reducing expense and fraud. Also, AI modernized the communication strategy in corporate travel by establishing chatbots. Moreover, machine learning is emerging as a mainstream technology in travel and expense management software. It is used to identify important fields of expense receipts using optical character recognition, provide tailored recommendations for business travelers, and implement conversational interfaces using ML for natural language processing. Therefore, emergence of artificial intelligence (AI) and machine learning (ML) and their integration with travel and expense management software is expected to drive the Asia-Pacific travel and expense management software market growth.

Asia-Pacific Travel and Expense Management Software Market Overview

Asia-Pacific is one of the fastest-growing travel destinations and is the second-largest destination for international visitors. The region has the most significant global outbound tourist spending, with most of its spending on intraregional travel. As per the GDP figure, the region has the largest aggregate domestic travel market. In addition, countries in the region are concentrating on remaining competitive to attract growing international travel. Along with the increasing tourism market, the region is also experiencing the rising adoption of new technologies and software to manage tasks in different industries. The mounting use of the internet creates a dynamic and interactive source for managing travel and expenses. Therefore, the surge in the tourism market, coupled with the rise in technological advancements, has fueled the demand for travel & expense management software. Moreover, the region is the fastest-growing destination for medical tourism, with Thailand, India, Singapore, South Korea, and Malaysia among the top medical tourism destinations. Thus, the increasing medical tourism is expected to surge the demand for travel & expense management software in the region. Further, increased business travel in countries such as India, and China, is anticipated to fuel Asia-Pacific travel and expense management software market growth.

Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

APAC Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

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Asia-Pacific Travel and Expense Management Software Market Segmentation

The Asia-Pacific travel and expense management software market is segmented into deployment, enterprise size, industry, and country.

Based on deployment, the Asia-Pacific travel and expense management software market is bifurcated into on-premise and cloud. The cloud segment held a larger market share in 2022.

Based on enterprise size, the Asia-Pacific travel and expense management software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held a larger market share in 2022.

Based on industry, the Asia-Pacific travel and expense management software market is segmented into BFSI, IT and telecom, manufacturing, healthcare, government and defense, transport and logistics, retail, and others. The IT and telecom segment held the largest market share in 2022.

Based on country, the Asia-Pacific travel and expense management software market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific. Our regional analysis states that China dominated the market share in 2022.

Basware Corporation; Certify, Inc.; Chrome River Technologies, Inc.; Concur Technologies, Inc.; Coupa Software Inc.; Expensify, Inc.; Infor, Inc.; and Oracle Corporation are the leading companies operating in the Asia-Pacific travel and expense management software market.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Asia-Pacific Travel and Expense Management Software Market – By Deployment

1.3.2 Asia-Pacific Travel and Expense Management Software Market – By Enterprise Size

1.3.3 Asia-Pacific Travel and Expense Management Software Market – By Industry

1.3.4 Asia-Pacific Travel and Expense Management Software Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Asia-Pacific Travel and Expense Management Software Market Landscape

4.1 Market Overview

4.2 Asia-Pacific PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Asia-Pacific Travel and Expense Management Software Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Mobile Workforce

5.1.2 Hassle-Free Claims and Reimbursements

5.2 Market Restraints

5.2.1 Constant Threat of Data Breach

5.3 Market Opportunities

5.3.1 Rising Adoption of SaaS Applications

5.4 Future Trends

5.4.1 Emergence of Artificial Intelligence (AI) and Machine Learning (ML)

5.5 Impact Analysis of Drivers and Restraints

6. Travel and Expense Management Software Market – Asia-Pacific Analysis

6.1 Asia-Pacific Travel and Expense Management Software Market Overview

6.2 Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

7. Asia-Pacific Travel and Expense Management Software Market Analysis – By Deployment

7.1 Overview

7.2 Asia-Pacific Travel and Expense Management Software Market, By Deployment (2021 and 2028)

7.3 On-Premise

7.3.1 Overview

7.3.2 On-Premise: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Cloud

7.4.1 Overview

7.4.2 Cloud: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

8. Asia-Pacific Travel and Expense Management Software Market Analysis – By Enterprise Size

8.1 Overview

8.2 Asia-Pacific Travel and Expense Management Software Market, By Enterprise Size (2021 and 2028)

8.3 Small and Medium Enterprises

8.3.1 Overview

8.3.2 Small and Medium Enterprises: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Large Enterprises

8.4.1 Overview

8.4.2 Large Enterprises: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

9. Asia-Pacific Travel and Expense Management Software Market Analysis – By Industry

9.1 Overview

9.2 Asia-Pacific Travel and Expense Management Software Market Breakdown, by Industry, 2021 & 2028

9.3 BFSI

9.3.1 Overview

9.3.2 BFSI Market Revenue and Forecast to 2028 (US$ Million)

9.4 IT and Telecom

9.4.1 Overview

9.4.2 IT and Telecom Market Revenue and Forecast to 2028 (US$ Million)

9.5 Manufacturing

9.5.1 Overview

9.5.2 Manufacturing Market Revenue and Forecast to 2028 (US$ Million)

9.6 Healthcare

9.6.1 Overview

9.6.2 Healthcare Market Revenue and Forecast to 2028 (US$ Million)

9.7 Government and Defense

9.7.1 Overview

9.7.2 Government and Defense Market Revenue and Forecast to 2028 (US$ Million)

9.8 Transportation and Logistics

9.8.1 Overview

9.8.2 Transportation and Logistics Market Revenue and Forecast to 2028 (US$ Million)

9.9 Retail

9.9.1 Overview

9.9.2 Retail Market Revenue and Forecast to 2028 (US$ Million)

9.10 Others

9.10.1 Overview

9.10.2 Others Market Revenue and Forecast to 2028 (US$ Million)

10. Asia-Pacific Travel and Expense Management Software Market – Country Analysis

10.1 Overview

10.1.1 Asia-Pacific: Travel and Expense Management Software Market, by Key Country

10.1.1.1 Australia: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 Australia: Travel and Expense Management Software Market, by Deployment

10.1.1.1.2 Australia: Travel and Expense Management Software Market, by Enterprise Size

10.1.1.1.3 Australia: Travel and Expense Management Software Market, by Industry

10.1.1.2 China: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 China: Travel and Expense Management Software Market, by Deployment

10.1.1.2.2 China: Travel and Expense Management Software Market, by Enterprise Size

10.1.1.2.3 China: Travel and Expense Management Software Market, by Industry

10.1.1.3 India: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 India: Travel and Expense Management Software Market, by Deployment

10.1.1.3.2 India: Travel and Expense Management Software Market, by Enterprise Size

10.1.1.3.3 India: Travel and Expense Management Software Market, by Industry

10.1.1.4 Japan: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.4.1 Japan: Travel and Expense Management Software Market, by Deployment

10.1.1.4.2 Japan: Travel and Expense Management Software Market, by Enterprise Size

10.1.1.4.3 Japan: Travel and Expense Management Software Market, by Industry

10.1.1.5 South Korea: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.5.1 South Korea: Travel and Expense Management Software Market, by Deployment

10.1.1.5.2 South Korea: Travel and Expense Management Software Market, by Enterprise Size

10.1.1.5.3 South Korea: Travel and Expense Management Software Market, by Industry

10.1.1.6 Rest of Asia-Pacific: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.6.1 Rest of Asia-Pacific: Travel and Expense Management Software Market, by Deployment

10.1.1.6.2 Rest of Asia-Pacific: Travel and Expense Management Software Market, by Enterprise Size

10.1.1.6.3 Rest of Asia-Pacific: Travel and Expense Management Software Market, by Industry

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 New Product Development

11.4 Partnership Strategy

12. Company Profiles

12.1 Basware Corporation

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Certify, Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Chrome River Technologies, Inc.

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Coupa Software Inc.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Expensify, Inc.

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Infor, Inc.

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Oracle Corporation

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Concur Technologies, Inc.

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Table 2. Asia-Pacific Travel and Expense Management Software Market, by Country – Revenue and Forecast to 2028 (USD Million)

Table 3. Australia: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)

Table 4. Australia: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)

Table 5. Australia: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)

Table 6. China: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)

Table 7. China: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)

Table 8. China: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)

Table 9. India: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)

Table 10. India: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)

Table 11. India: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)

Table 12. Japan: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)

Table 13. Japan: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)

Table 14. Japan: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)

Table 15. South Korea: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)

Table 16. South Korea: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)

Table 17. South Korea: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)

Table 18. Rest of Asia-Pacific: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)

Table 19. Rest of Asia-Pacific: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)

Table 20. Rest of Asia-Pacific: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)

Table 21. List of Abbreviation

LIST OF FIGURES

Figure 1. Asia-Pacific Travel and Expense Management Software Market Segmentation

Figure 2. Asia-Pacific Travel and Expense Management Software Market Segmentation – By Country

Figure 3. Asia-Pacific Travel and Expense Management Software Market Overview

Figure 4. Asia-Pacific Travel and Expense Management Software Market, By Deployment

Figure 5. Asia-Pacific Travel and Expense Management Software Market, By Country

Figure 6. Asia-Pacific: PEST Analysis

Figure 7. Expert Opinion

Figure 8. Asia-Pacific Travel and Expense Management Software Market: Impact Analysis of Drivers and Restraints

Figure 9. Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10. Asia-Pacific Travel and Expense Management Software Market Revenue Share, by Deployment (2021 and 2028)

Figure 11. On-Premise: Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. Cloud: Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13. Asia-Pacific Travel and Expense Management Software Market Revenue Share, by Enterprise Size (2021 and 2028)

Figure 14. Small and Medium Enterprises: Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. Large Enterprises: Asia-Pacific Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. Asia-Pacific Travel and Expense Management Software Market Breakdown, by Industry (2021 and 2028)

Figure 17. BFSI: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 18. IT and Telecom: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 19. Manufacturing: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 20. Healthcare: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 21. Government and Defense: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 22. Transportation and Logistics: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 23. Retail: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 24. Others: Asia-Pacific Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Figure 25. Asia-Pacific: Travel and Expense Management Software Market, by Key Country – Revenue (2021) (US$ ‘Million)

Figure 26. Asia-Pacific: Travel and Expense Management Software Market Revenue Share, by Key Country (2021 and 2028)

Figure 27. Australia: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. China: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. India: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30. Japan: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31. South Korea: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32. Rest of Asia-Pacific: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia-Pacific travel and expense management software market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific travel and expense management software market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the travel and expense management software market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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