South America 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 South America travel and expense management software market is expected to grow from US$ 110.67 million in 2022 to US$ 137.09 million by 2028. It is estimated to grow at a CAGR of 3.6% from 2022 to 2028.
Rising Adoption of SaaS Applications is Fueling the South America 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 South America travel and expense management software market.
South America Travel and Expense Management Software Market Overview
The South America economy has grown faster than developed economies in the last 15 years; however, the region is still lagging in terms of technological advancements. The lack of skilled labor, decreasing productivity, and high dependency on exports are among the constraints in South America's economic growth. However, several countries in the region, such as Brazil and Argentina, are substantially adopting various technologies to overcome challenges across different industries. The growing healthcare industry is expected to boost travel and expense management software deployment in this region. As the travel and expense management software in the healthcare industry integrated with travel service providers, offering real-time quotes, bookings, and trip logistics in one place, it drives the demand for travel and expense management software. Managers can track bookings, cancellations, adjustments, and rescheduling in real time, eliminating many human errors. All these offerings anticipate lucrative opportunities for the growth of the travel and expense management software market. Moreover, industrialization has been gaining traction across the region. The startups are focusing on expansion strategies. For instance, in March 2022, the US-based fintech "Jeeves," a corporate card and expense management platform for global startups, started operations in Brazil. These expansion strategies are further supporting the growth of the South America travel and expense management software market.
South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
The South America travel and expense management software market is segmented into deployment, enterprise size, industry, and country.
Based on deployment, the South America 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 South America 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 South America 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 South America travel and expense management software market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil 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 South America 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 South America Travel and Expense Management Software Market – By Deployment
1.3.2 South America Travel and Expense Management Software Market – By Enterprise Size
1.3.3 South America Travel and Expense Management Software Market – By Industry
1.3.4 South America 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. South America Travel and Expense Management Software Market Landscape
4.1 Market Overview
4.2 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. South America 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 – South America Analysis
6.1 South America Travel and Expense Management Software Market Overview
6.2 South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
7. South America Travel and Expense Management Software Market Analysis – By Deployment
7.1 Overview
7.2 South America 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. South America Travel and Expense Management Software Market Analysis – By Enterprise Size
8.1 Overview
8.2 South America 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. South America Travel and Expense Management Software Market Analysis – By Industry
9.1 Overview
9.2 South America 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. South America Travel and Expense Management Software Market – Country Analysis
10.1 Overview
10.1.1 South America: Travel and Expense Management Software Market, by Key Country
10.1.1.1 Brazil: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Brazil: Travel and Expense Management Software Market, by Deployment
10.1.1.1.2 Brazil: Travel and Expense Management Software Market, by Enterprise Size
10.1.1.1.3 Brazil: Travel and Expense Management Software Market, by Industry
10.1.1.2 Argentina: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Argentina: Travel and Expense Management Software Market, by Deployment
10.1.1.2.2 Argentina: Travel and Expense Management Software Market, by Enterprise Size
10.1.1.2.3 Argentina: Travel and Expense Management Software Market, by Industry
10.1.1.3 Rest of South America: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Rest of South America: Travel and Expense Management Software Market, by Deployment
10.1.1.3.2 Rest of South America: Travel and Expense Management Software Market, by Enterprise Size
10.1.1.3.3 Rest of South America: 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. South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. South America Travel and Expense Management Software Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. Brazil: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of South America: Travel and Expense Management Software Market, by Deployment – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of South America: Travel and Expense Management Software Market, by Enterprise Size – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of South America: Travel and Expense Management Software Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. South America Travel and Expense Management Software Market Segmentation
Figure 2. South America Travel and Expense Management Software Market Segmentation – By Country
Figure 3. South America Travel and Expense Management Software Market Overview
Figure 4. South America Travel and Expense Management Software Market, By Deployment
Figure 5. South America Travel and Expense Management Software Market, By Country
Figure 6. South America: PEST Analysis
Figure 7. Expert Opinion
Figure 8. South America Travel and Expense Management Software Market: Impact Analysis of Drivers and Restraints
Figure 9. South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. South America Travel and Expense Management Software Market Revenue Share, by Deployment (2021 and 2028)
Figure 11. On-Premise: South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Cloud: South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. South America Travel and Expense Management Software Market Revenue Share, by Enterprise Size (2021 and 2028)
Figure 14. Small and Medium Enterprises: South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Large Enterprises: South America Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. South America Travel and Expense Management Software Market Breakdown, by Industry (2021 and 2028)
Figure 17. BFSI: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. IT and Telecom: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Manufacturing: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Healthcare: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Government and Defense: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Transportation and Logistics: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Retail: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Others: South America Travel and Expense Management Software Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. South America: Travel and Expense Management Software Market, by Key Country – Revenue (2021) (US$ ‘Million)
Figure 26. South America: Travel and Expense Management Software Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. Brazil: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Argentina: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of South America: Travel and Expense Management Software Market – Revenue and Forecast to 2028 (US$ Million)
- Basware Corporation
- Certify, Inc.
- Chrome River Technologies, Inc.
- Concur Technologies, Inc.
- Coupa Software Inc.
- Expensify, Inc.
- Infor, Inc.
- Oracle Corporation
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South America 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 South America 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 South America 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