Kenneth Research, in its repository of market research reports, have recently added a report on North America Expense Tracking Software Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The North America Expense Tracking Software Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for North America Expense Tracking Software Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
The report covers the forecast and analysis of the North America expense tracking software market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the North America expense tracking software market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the North America expense tracking software market on a global level.
In order to give the users of this report a comprehensive view of the North America expense tracking software market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are bench marked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the North America expense tracking software market by segmenting the market based on deployment, application, vertical, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The expense tracking software helps in reinforcing expense reports and enhances the employee output. Apart from this, the software proficiently regulates the claim process for the employees of the firm by providing accurate information and minimizing human errors. It also helps in speeding up the process of repayment. All these factors is likely to help the market gain traction over the forecast period.
On the basis of deployment, the market is divided into Cloud-Based and On-Premise. Application-wise, the industry is classified into Small Businesses, Large Businesses, and Medium Businesses. On the basis of vertical, the North America expense tracking software market is divided into Higher Education, Retail & Restaurant, Healthcare & Life Sciences, Legal Services, Non-Profits, Financial Services, and Oil, Mine, & Gas.
The key players included in this market are Abacus Labs, Inc., Shoeboxed, Inc., Serko, Certify, Inc., Chrome River Technologies, Inc., Journyx, Concur Technologies, Inc., Deductr, Inc., DivvyPay, Inc., ExpensePath, Inc., Expensify, Inc., GlobalPoint Technologies, Inc., Silverware Software, Tidal Pool Software, Zoho Corporation Pvt. Ltd., and TAXBOT, LLC.
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