The North America Travel and Expense Management Software Market is expected to witness market growth of 14.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Travel and Expense Management Software Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $2.66 billion by 2031. The Canada market is experiencing a CAGR of 16.6% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 15.8% during 2024-2031.
The travel and expense management software market are undergoing substantial growth as businesses progressively transition to cloud-based solutions, automation, and digitization to optimize their financial processes. Managing travel expenses manually is time-consuming, error-prone, and inefficient, leading companies to seek advanced software solutions that offer seamless tracking, automated approvals, and real-time reporting.
Additionally, with the rise in corporate travel, remote work, and hybrid work models, organizations are adopting AI-driven and cloud-based expense management platforms to enhance accuracy, reduce fraud, and ensure compliance with financial regulations. The growing need for cost control, transparency, and efficient financial management has propelled the market, making it an essential component for modern businesses.
Canada's transportation and logistics industry is critical in driving the demand for T&E management solutions. In 2023, Canada’s merchandise trade with the U.S. exceeded CAD 700 billion, necessitating seamless cross-border logistics. The National Trade Corridors Fund (NTCF) - which allocated CAD 2 billion to improve trade corridors - has contributed to the growth of freight and logistics services, resulting in increased employee travel and expense management challenges. The Canadian government’s emphasis on digital adoption and cloud-based business solutions through programs like the Canada Digital Adoption Program (CDAP) has further accelerated the implementation of AI-driven T&E management software, allowing logistics companies to optimize costs and improve operational efficiency.
The US market dominated the North America Travel and Expense Management Software Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $2.66 billion by 2031. The Canada market is experiencing a CAGR of 16.6% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 15.8% during 2024-2031.
The travel and expense management software market are undergoing substantial growth as businesses progressively transition to cloud-based solutions, automation, and digitization to optimize their financial processes. Managing travel expenses manually is time-consuming, error-prone, and inefficient, leading companies to seek advanced software solutions that offer seamless tracking, automated approvals, and real-time reporting.
Additionally, with the rise in corporate travel, remote work, and hybrid work models, organizations are adopting AI-driven and cloud-based expense management platforms to enhance accuracy, reduce fraud, and ensure compliance with financial regulations. The growing need for cost control, transparency, and efficient financial management has propelled the market, making it an essential component for modern businesses.
Canada's transportation and logistics industry is critical in driving the demand for T&E management solutions. In 2023, Canada’s merchandise trade with the U.S. exceeded CAD 700 billion, necessitating seamless cross-border logistics. The National Trade Corridors Fund (NTCF) - which allocated CAD 2 billion to improve trade corridors - has contributed to the growth of freight and logistics services, resulting in increased employee travel and expense management challenges. The Canadian government’s emphasis on digital adoption and cloud-based business solutions through programs like the Canada Digital Adoption Program (CDAP) has further accelerated the implementation of AI-driven T&E management software, allowing logistics companies to optimize costs and improve operational efficiency.
List of Key Companies Profiled
- Oracle Corporation
- SAP SE
- Infor, Inc.
- Coupa Software, Inc.
- Zoho Corporation Pvt. Ltd.
- Emburse, Inc. (Certify)
- Expensify, Inc.
- Navan, Inc.
- Ariett (AvidXchange)
- Rippling
Market Report Segmentation
By Deployment Type- Hosted
- On-Premise
- Large Enterprises
- SMEs
- Telecom & IT
- Transportation & Logistics
- Manufacturing
- Retail
- Government & Defense
- Energy & Utilities
- Healthcare
- Other Vertical
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Travel and Expense Management Software Market by Deployment Type
Chapter 5. North America Travel and Expense Management Software Market by Enterprise Size
Chapter 6. North America Travel and Expense Management Software Market by Vertical
Chapter 7. North America Travel and Expense Management Software Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Oracle Corporation
- SAP SE
- Infor, Inc.
- Coupa Software, Inc.
- Zoho Corporation Pvt. Ltd.
- Emburse, Inc. (Certify)
- Expensify, Inc.
- Navan, Inc.
- Ariett (AvidXchange)
- Rippling
Methodology
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