Middle East & Africa Travel and Expense Management Software Market

The Middle East & Africa travel and expense management software market is expected to grow from US$ 214.69 million in 2022 to US$ 305.81 million by 2028. It is estimated to grow at a CAGR of 6.1% from 2022 to 2028.             

Rising Adoption of SaaS Applications is Fueling the Middle East & Africa Travel and Expense Management Software Market

Software as a service (SaaS) application are web-based alternatives to the usual offline software. SaaS can run 24/7 via an internet browser from any device. It does not require installation, equipment updates, and traditional licensing management. Also, it is cost effective, it saves the data in the cloud, etc. Companies use SaaS when they don’t have the time, capital, or expertise to build their own applications or host on-premise applications. The maintenance costs are also minimum as SaaS service providers have total control on hosting environments. SaaS applications dramatically reduce the time spent on the configuration of resources. Also, it keeps the data safe compared to any traditional software. Moreover, the SaaS service provider hosts the software centrally on a server; so one can change the usage plan as per their need, without informing in advance. The benefits of SaaS have led to the rising adoption of SaaS applications in various organizations. This factor is expected to offer lucrative opportunities for the growth of the travel and expense management software market in the coming years. Travel and expense management software is a SaaS application which is useful for remote work scenarios where several people from multiple locations work on a similar project and access the centralized product for managing their travel expenses and reimbursements. So, growing adoption of SaaS application is expected to drive the Middle East & Africa travel and expense management software market.

Middle East & Africa Overview

The logistics & transportation industry in the Middle East & Africa is boosting at a normal pace, and the government of Saudi Arabia and UK is expected to bring a promising future to the logistics & transportation industry in the Gulf Cooperation Council region. The growth of the travel and expense management software market is primarily attributed to the e-commerce boom, infrastructure development, and a spike in international exports. The international exports and e-commerce’s high reliance on digital platforms, the focus of governments on digitalization, and increasing contributions of knowledge economic sectors are expected to fuel the transformation of the logistics ecosystem. Moreover, technological innovations and the emergence of new entrants in the travel and expense management software market are driving the market. These entrants are focusing on deployments of new travel and expense management software, further gaining traction in the Middle East & Africa travel and expense management software market.   

Middle East & Africa Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Travel and Expense Management Software Strategic Insights

Strategic insights for the Middle East & Africa Travel and Expense Management Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Travel and Expense Management Software Report Scope

Middle East & Africa Travel and Expense Management Software Regional Insights

The geographic scope of the Middle East & Africa Travel and Expense Management Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Middle East & Africa Travel and Expense Management Software Market Segmentation

The Middle East & Africa travel and expense management software market is segmented into deployment, enterprise size, industry, and country.

Based on deployment, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa travel and expense management software market has been categorized into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia 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 Middle East & Africa travel and expense management software market.