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We are pleased to announce that SAP has retained its No. 1 ranking with 49.6% of 2023 market share for Travel and Expense Management Software, according to the IDC Worldwide Travel and Expense Management Software Market Shares 2023 report. This is an increase from its 2022 market share of 49.4%.?

Business travel has made a substantial turnaround since the pandemic. According to GBTA, global spending on business travel $1.03 trillion (USD) at the end of 2022, 72% of a $1.43 trillion pre-pandemic high. The GBTA 2024 Business Travel Index Outlook that global spending will reach a new record high of $1.48 trillion by the end of 2024, and in the past year alone, more than 1 billion expense line items were processed in ÂÜÀòÊÓƵ Expense.?

Companies continue to navigate challenges and unpredictability in 2024, including rising costs, competing priorities, and travel industry power shifts. However, increasing spend on business travel suggests that organizations are focusing less on bracing for the unknown, instead positioning themselves to move forward and grow in 2025.?

IDC Worldwide Travel and Expense Management Software Market Shares 2023

?To learn more details, download the IDC WorldWide Travel and Expense Management Software Market Shares, 2023 report excerpt.

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"In a world in which digital meetings were poised to dominate, the unexpected resurgence of business travel heralds a new chapter, emphasizing the irreplaceable value of human connection amidst rising costs and economic uncertainties,¡± said Kevin Permenter, senior director, Enterprise Applications at IDC. ¡°This revival not only challenges past predictions but also underscores the enduring importance of face-to-face interactions in fostering business relationships and driving companies and the travel industry to adapt and innovate in a landscape filled with both opportunities and obstacles.¡±??

We believe the double-digit revenue growth that SAP experienced in 2023¡ª14% year over year, based on the IDC report¡ªunderscores the impact of our investments in SAP ÂÜÀòÊÓƵ solutions to best serve customers. These included:?

• Product enhancements (e.g., new ÂÜÀòÊÓƵ Travel, Expense Payment Manager, NDC support, generative AI).?
• Strategic partnerships (e.g., dnata, Ryanair, Intesa [Kyndrl], Ccelera).?
• New integrations (e.g., AlertMedia, Global Guardian, Extend).?

Heading into 2025, SAP ÂÜÀòÊÓƵ is dedicated to moving travel and expense forward faster through innovative solutions. Our platform brings expenses, travel, and AP spending together with unparalleled efficiency, control, and visibility, offering improved safety, sustainability, and compliance for the benefit of our customers.?

Learn more about the trends driving an uptick in business travel spend by downloading an excerpt from the IDC study, Worldwide Travel and Expense Management Software Market Shares, 2023: Resurgence of Business Travel Heralds a New Chapter in Travel and Expense Software.?