Corporate Travel Management Software Market by Type (Cloud Based, Web Based), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

  • Publish Date: Mar, 2020
  • Report ID: 417797
  • Category: Software
  • Pages: 219

The global corporate travel management software market is expected to grow from USD 2.28 billion in 2019 to USD 4.19 billion by 2027, at a CAGR of 7.90% during the forecast period from 2020-2027.

Corporate travel management software is commonly used to manage and book trips and track and report previous trips for the employees, corporates, and business professionals. It offers unique features such as combine travel bills, automation of corporate travel statements, and management of vendors. It helps the corporate organizations to manage the business and corporate trips with budget management.  

With the changing corporate global business atmosphere, the dynamics of business travel is witnessing the change around the world. The increasing number of millennial in business travel and fast-changing innovative technologies are some of the primary factors boosting the market growth. In addition to this, corporate travel management software helps to the effective management of business trips and increasing efficiency, as it contains new technologies, automation, and techniques. Thus, many organizations across the globe are rapidly adopting the software to improve the company’s performance. However, the high cost required for the initial implementation of software and lack of awareness about corporate travel management software could lead to hampering the market growth over the forecast period.

This study delivers a comprehensive analysis of type, application, and region. The type segment includes cloud-based and web-based. The cloud-based segment accounted for the major market share and valued at USD 1.005 billion in 2019. Cloud-based travel management software helps effectively manage business trips and send alerts when trips violate corporate travel management policies. It is a very cost-effective software as compared to the web-based software, as it reduces the cost of infrastructure and ownership. Thus many companies are focusing on the adoption of cloud-based corporate travel management software. The application segment includes large enterprises and SMEs. Large enterprises segment dominated the market and held the market share of 57.73% in the year 2019. Large enterprises comprise many divisions such as marketing, finance, and distribution department. These companies have recognized the impact of corporate travel and trips on their business profits, and thus, they are increasingly focusing on the adoption of corporate travel management software. Therefore, the rising adoption of software by large enterprises boosting the growth of the market.

The market has been classified based on North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region led the global corporate travel management software market and held the largest market share of 33.85% in the year 2019. The growth is mainly attributed to the increasing business trips to countries such as the U.S. and Canada from around the globe. The U.S. is the largest revenue contributor in the corporate travel management software market in the North America region.

Some of the notable players in the corporate travel management software market are NuTravel Technology Solutions, Pana Industries, Inc, Christopherson Business Travel, TripActions, GEMINI Software Solutions Pvt. Ltd, Datalex, INNFINITY Software Systems, Systrix IT Solutions, PASS Consulting Group, Concur Technologies, Inc., Corporate Travel Management, and FCM travel solutions, among others. Developing countries are offering significant opportunities, and major players are continuously focusing on strategic partnerships, new developments, acquisitions, and venture capital investments to obtain high growth in the market. In the year June 2019, Pana Industries, Inc. announced that it had raised USD 10 million in Series A round to expand its corporate travel management software business on a global scale and to enhance the customer base. 

This study forecasts revenue growth at global, regional, and country levels from 2013 to 2027. Fior Markets has segmented the on the basis of below-mentioned segments:

  • Global Corporate Travel Management Software Market Analysis And Forecast, By Type
    • Cloud-Based
    • Web-Based
  • Global Corporate Travel Management Software Market Analysis And Forecast, By Application
    • Large Enterprises
    • SMEs
  • Global Corporate Travel Management Software Market Analysis And Forecast, By Regional Analysis
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Sweden
      • Netherland
      • U.K.
      • Italy
      • Spain
      • Turkey
      • Switzerland
      • Belgium
      • Rest Of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • South Korea
      • Australia
      • Singapore
      • Malaysia
      • Thailand
      • Indonesia
      • Philippines
      • Rest Of APAC
    • South America
      • Brazil
      • Argentina
      • Peru
      • Colombia
      • Rest Of South America
    • Middle East And Africa
      •  UAE
      •  Saudi Arabia
      •  Egypt
      •  Nigeria
      •  South Africa
      • Rest of MEA

Chapter 1 Introduction 12
    1.1 Research Methodology 12
    1.2 FMR Desk Research 13
          1.2.1 FMR Data Synthesis 14
          1.2.2 Data Validation and Market Feedback 15
          1.2.3 FMR Data Sources 15

Chapter 2 Global Corporate Travel Management (CTM) Software Market Overview 17
    2.1 Definition and Specification 17
    2.2 Players and Regions Overview 19
          2.2.1 Regions Overview 20
          2.2.2 Type Overview 21
          Cloud Based 22
          Web Based 22
          2.2.3 Application Overview 23
          Large Enterprises 24
          SMEs 24
    2.3 Industrial Chain 25
          2.3.1 Corporate Travel Management (CTM) Software Overall Industrial Chain 25

Chapter 3 Global Corporate Travel Management (CTM) Software Market Assessment by Type 26
    3.1 Overall Market Performance 26
          3.1.1 Global Corporate Travel Management (CTM) Software Sales Revenue (Million USD) by Type (2014-2019) 26
          Cloud Based (Value) 28
          Web Based (Value) 29

Chapter 4 Global Corporate Travel Management (CTM) Software Market Assessment by Application 30
    4.1 Overall Market Performance (Value) 30
          Large Enterprises (Value) 32
          SMEs (Value) 33

Chapter 5 Manufacturers Profiles/Analysis 34
    5.1 NuTravel Technology Solutions 34
          5.1.1 NuTravel Technology Solutions Profiles 34
          5.1.2 NuTravel Technology Solutions Product Information 35
          5.1.3 NuTravel Technology Solutions Corporate Travel Management (CTM) Software Business Performance 36
    5.2 Pana Industries, Inc. 37
          5.2.1 Pana Industries, Inc. Profiles 37
          5.2.2 Pana Industries, Inc. Product Information 38
    5.3 Christopherson Business Travel 39
          5.3.1 Christopherson Business Travel Profiles 39
          5.3.2 Christopherson Business Travel Product Information 40
          5.3.3 Christopherson Business Travel Corporate Travel Management (CTM) Software Business Performance 41
    5.4 TripActions 42
          5.4.1 TripActions Profiles 42
          5.4.2 TripActions Product Information 43
          5.4.3 TripActions Corporate Travel Management (CTM) Software Business Performance 44
    5.5 GEMINI Software Solutions Pvt. Ltd 45
          5.5.1 GEMINI Software Solutions Pvt. Ltd Profiles 45
          5.5.2 GEMINI SOFTWARE SOLUTIONS PVT. LTD Product Information 46
    5.6 Datalex 48
          5.6.1 Datalex Profiles 48
          5.6.2 Datalex Product Information 49
          5.6.3 Datalex Corporate Travel Management (CTM) Software Business Performance 50
    5.7 INNFINITY Software Systems 51
          5.7.1 INNFINITY Software Systems Profiles 51
          5.7.2 INNFINITY Software Systems Product Information 52
          5.7.3 INNFINITY Software System Corporate Travel Management (CTM) Software Business Performance 53
    5.8 Systrix IT Solutions 54
          5.8.1 Systrix IT Solutions Profiles 54
          5.8.2 Systrix IT Solutions Product Information 55
    5.9 PASS Consulting Group 56
          5.9.1 PASS Consulting Group Profiles 56
          5.9.2 PASS Consulting Group Product Information 57
    5.10 Concur Technologies, Inc. 58
          5.10.1 Concur Technologies, Inc. Profiles 58
          5.10.2 Concur Technologies, Inc. Product Information 59
          5.10.3 SAP (Concur) Corporate Travel Management (CTM) Software Business Performance 60
    5.11 Corporate Travel Management 61
          5.11.1 Corporate Travel Management Profiles 61
          5.11.2 Corporate Travel Management Product Information 62
    5.12 FCM travel solutions 63
          5.12.1 FCM travel solutions Profiles 63
          5.12.2 FCM travel solutions Product Information 64

Chapter 6 Competitive Landscape 65
    6.1 Global Corporate Travel Management (CTM) Software Sales Revenue of Players (2014-2019) 65
    6.2 Global Corporate Travel Management (CTM) Software Gross Margin of Players (2014-2019) 69
    6.3 Market Concentration 70

Chapter 7 Global Corporate Travel Management (CTM) Software Market Performance 72
    7.2 North America Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate (2014-2019) 73
    7.3 Europe Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate (2014-2019) 74
    7.4 Asia Pacific Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate (2014-2019) 75
    7.8 South America Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate (2014-2019) 79
    7.9 Middle East and Africa Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate (2014-2019) 80

Chapter 8 Market Dynamics 81
    8.1 Market Drivers 81
    8.2 Market Restraints 81
    8.3 Market Opportunities 82
    8.4 Market Challenges 82

Chapter 9 Market Forecast 2019-2027 84
    9.1 Global Corporate Travel Management (CTM) Software Sales Revenue Forecast by Regions 84
    9.3 North America Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate Forecast (2020-2027) 87
    9.4 Europe Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate Forecast (2020-2027) 88
    9.5 Asia Pacific Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate Forecast (2020-2027) 89
    9.9 South America Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate Forecast (2020-2027) 93
    9.10 Middle East and Africa Corporate Travel Management (CTM) Software Sales Revenue and Growth Rate Forecast (2020-2027) 94

Chapter 10 Global Corporate Travel Management (CTM) Software Market Forecast by Type 95
    10.1 Overall Market Performance 95
    10.2 Cloud Based 97
    10.3 Web Based 98

Chapter 11 Global Corporate Travel Management (CTM) Software Market Forecast by Application 99
    11.1 Overall Market Performance 99
    11.2 Large Enterprises 101
    11.3 SMEs 102

Chapter 12 Research Findings and Conclusion 103


Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

Please fill the form below, to recieve the report sample


Our Clients

Some Facts about Fior Markets


Free Customization


Countries can be added on demand


Free yearly update on purchase of Multi/Corporate User License


Companies served till date

Customized Research Programme
Premium Customer Service

We serve our customers 24x7 for 365 days through calls, emails and live chat options.

Syndicated market research
Exceptional Market Report

Huge database of exceptional market reports bringing market intelligence to your fingertips.

Domain Specific Analytics
Secured Payment Options

SSL enabled, we offer you various secured payment options for risk free purchase.