Rise in usage of smart phones and app-based services and surge in usage of SaaS-based expense management solutions among different industry verticals drive the growth of the global SaaS-Based Expense Management Market. However, lack of proper security measures for preventing data breach over the cloud platform and high initial investments for implementing SaaS-based applications restrain the market growth. On the other hand, trend of business outsourcing in the global economy and the adoption of SaaS technology in various sectors create new opportunities in the coming years.
Download free sample report at:
https://www.alliedmarketresearch.com/request-sample/4443
Based on industry vertical, the IT and telecom segment accounted for the highest market share in 2021, accounting for more than one-fifth of the global SaaS-based expense management industry, and is expected to continue its leadership status throughout the forecast period. This is due to adoption of SaaS-based software to eliminate inefficiencies in business activities and requirement of deploying and managing infrastructure of the IT &telecom industry.
However, the healthcare segment is projected to witness the highest CAGR of 19.8% from 2022 to 2031, owing to enhanced end-to-end security with patient data, cost benefits, and improved connectivity benefits along with increase in digitalization and enhanced graphical user interaction.
Access Full Summary at:
https://www.alliedmarketresearch.com/SaaS-based-expense-management-market
Based on component, the solution segment held the highest market share in 2021, contributing to nearly two-thirds of the global SaaS-based expense management market, and is expected to maintain its lead position during the forecast period. This is due to the adoption of SaaS-based expense management solutions to streamline the business process, eliminate the manual process, and reduce the time & costs.
However, the services segment is estimated to manifest the largest CAGR of 15.5% from 2022 to 2031, owing to rise in adoption to maximize the value of existing installation and minimize the deployment cost & risks.
For Purchase Enquiry:
https://www.alliedmarketresearch.com/purchase-enquiry/4443
Based on region, North America contributed the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global SaaS-based expense management market. This is attributed to increase in usage of SaaS-based expense management in banking & finance, manufacturing, and healthcare sectors to improve businesses and the customer experience in the region.
However, Asia-Pacific is projected to portray the fastest CAGR of 16.6% during the forecast period. Some key market players in the market, include Apptricity Corporation, Ariba, Inc., Concur Technologies, Expensify, IBM Corporation, Infor Global Solutions, Inc., Insperity, Inc., Nexonia, Oracle Corporation and Sutisoft, Inc.
If you have any special requirements, please let us know:
https://www.alliedmarketresearch.com/request-for-customization/4443
Covid-19 Scenario
- There has been an increase in adoption of work-from-home culture due to lockdown imposed by governments. Many companies have been trying to execute key processes, surge reporting operations from multiple locations, operate complex systems, and communicate with teammates efficiently. These factors led to rise in adoption of SaaS-based expense management services.
- Advanced technologies such as artificial intelligence (AI), internet of Things (IoT), machine learning (ML), cloud computing, and analytics were implemented across various industries such as healthcare, BFSI, and IT & telecom to carry out contactless operations. This factor i generated huge demand for SaaS-based software or services. This, in turn, impacted the SaaS-based expense management market positively.
Buy This Research Report at: https://bit.ly/3XJ6BAU
Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Similar Report:
About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research