Middle East & Africa 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, I

Middle East & Africa 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 MEA 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 MEA 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 MEA travel and expense management software market .

MEA Overview

The logistics & transportation industry in the MEA 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 MEA travel and expense management software market.

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

MEA Travel and Expense Management Software Market Segmentation

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

Based on deployment, the MEA 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 MEA 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 MEA 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 MEA travel and expense management software market has been categorized into the UAE, Saudi Arabia, South Africa, and the Rest of MEA. 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 MEA travel and expense management software market.

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