"Expert solutions, combined with potential capabilities, elevate the Business Travel Market report for businesses. This study caters to diverse markets in line with client requirements, extracting the best possible solutions and detailed information about market trends. The report holds immense importance in defining the market, classifications, applications, and engagements. Key data and information used in preparing this report are sourced from reliable outlets such as journals, websites, research papers, case studies, and magazines. The universal Business Travel Market business report offers comprehensive market insights and analysis, providing a broader perspective on the market.
Understanding the client’s requirements thoroughly, the finest Business Travel Market research report is delivered to them. SWOT analysis and Porter's Five Forces Analysis are two widely used techniques in generating this report. This market report encompasses historic data, future forecasts, and detailed analysis on a global and regional level. These insights guide actionable ideas, better decision-making, and improved business strategies. The world-class Business Travel Market business document is the result of the performance of a highly enthusiastic and motivated DBMR team with expertise in various areas such as research, assessment, analysis, consulting, and development.
Data Bridge Market Research analyses that the global business travel market which was USD 1.56 billion in 2022, would rocket up to USD 2.62 billion by 2030, and is expected to undergo a CAGR of 6.73% during the forecast period of 2023 to 2030.
Explore Further Details about This Research Business Travel Market Report
https://www.databridgemarketresearch.com/reports/global-business-travel-market
Business Travel Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015-2020) |
Quantitative Units | Revenue in USD Thousand, Volumes in Tons, Pricing in USD |
Segments Covered | Type (Managed Business Travel, Unmanaged Business Travel), Purpose (Marketing, Internal Meetings, Trade Shows, Product Launch, Others), Expenditure (Travel Fare, Lodging, Dining, Others), Age Group (Travelers Below 40 Years, Travelers Above 40 Years), Traveller (Group Travel, Solo Travel), Service (Transportation, Food and Lodging, Recreation Activity), Industry (Government, Corporate) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Airbnb, Inc. (U.S.), American Express Compny (U.S.), BCD Group (Netherland), Booking Holdings (U.S.), CWT Solutions (U.S.), Corporate Travel Management (Australia), Expedia, Inc. (U.S.), Fareportal (U.S.), Flight Centre Travel Group Limited (formerly Flight Centre Limited) (U.S.), Wexas Travel (U.K.), Hogg Robinson Ltd (U.K.), Priceline (U.S.), Egencia LLC (U.S.), Frosch International Travel (U.K.), Ovation Travel Group (U.S.), Travel Leaders Group (U.S.) |
Market Opportunities |
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Business or corporate travel is the tourism segment which focuses on the people who travel for professional purposes or work and the related tourism purposes. In this branch also includes the meeting sector, which refers to business congresses, trade fairs, events, conferences and exhibitions.
Global Business Travel Market Dynamics
Drivers
- Rising Demand of Bleisure
Bleisure travel is the form of business + leisure. The growing trend of bleisure travel in which incorporates business offers leisure or recreational activities with pleasure elements to improve work efficiency and relieve stress. It has provided a positive growth to the market. The development of virtual reality for hotel bookings, smart hotels and personalization are all the aspects which are boosting the business travel market
- Increasing Digitization and Penetration Towards Internet of Things
The growing digitization is initially influencing the global business travel market in the corporate and tourism sectors. Also, rising penetration of the Internet of Things (IoT) has allowed both the travel operators and the travellers to get things done swiftly and in easy way. These factors are the major reason which are expected to drive the growth of the business travel market
Opportunities
- Usage of Robotic Technology
The use of robotic technology can help to reduce human-to-human touch and could help the business travel market to flourish in the upcoming future. Robotics technology is a popular trend which attract customers to hotels. In hotels, robots are used to handle luggage, clean the rooms, greet guests and provide information. Robots could be used in food preparation and foodservice positions in restaurants
- Increased Government Initiative and Infrastructure Investment
Increased government initiatives are driving the business travel market due to the expansion of the events (MICE), meetings, incentives and conferences, and the small and medium-sized companies (SMEs) sector. Also, increased infrastructure investment and quick expansion in the travel retail industry will act as market drivers and further increase valuable opportunities for the market's growth rate
Reasons for Buying this Business Travel Market Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of Business Travel Market and by making in-depth analysis of market segments.
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