Corporate Travel Management (CTM) Software Market Scope
Corporate travel management software helps to oversee, regulate, and coordinate the travel activities and expenses of a company's employees. There are many features available in software such as hotel and airline reservations, coordinate the schedules of all members of the travel team, manage the travel schedules of individual employees, take advantage of frequent traveler discounts. In addition, it provides local and regional weather forecasts, automatic expense reporting, automated timesheets to keep track of employee hours, etc. The rising number of travel agencies and the globalization of businesses boosting the corporate travel management software market in the forecasted period.
The market study is being classified by Type (Cloud Based and Web Based), by Application (Large Enterprises and SMEs) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Corporate Travel Management (CTM) Software market throughout the predicted period.
nuTravel (United States), Pana Industries, Inc. (United States), Christopherson Business Travel (United States), TripCase (United States), TripActions (United States), Datalex (United Kingdom), INNFINITY Software Systems (United States), AmTrav (United States), Click Travel (United Kingdom) and DEEM (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Egencia LLC (United States) and Lola.com (United States).
AdvanceMarketAnalytics has segmented the market of Global Corporate Travel Management (CTM) Software market by Type, Application and Region.
On the basis of geography, the market of Corporate Travel Management (CTM) Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In Oct 2019, Egencia announced its collaboration with Villa Tours, one of Mexico’s top travel management companies. With this, Egencia further strengthens its position in Latin America and enhances its ability to serve global customers from Mexico.
In July 2018, Deem announced the launch of Deem Rise, a new travel booking and management experience created for travel management companies (TMC) to profitably serve the needs of small to mid-sized (SMB) corporations.
- Use of Artificial Intelligence (AI) in Corporate Travel-Management Software
- Rising Number of Travel Agencies and Tour Operator
- Increase in the Globalization of Business
- Rapid Growth in the Travel Industry in Emerging Economy
- Increasing Adoption of Technology in Corporate Sectors
- Lack of Awerness among the Consumer
- Privacy Concern and Transaction Security
Key Target AudienceCorporate Travel Management Software Provider, Software Solution Provider, Travel Agencies, Government and Potential Investors
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