Global Business Travel Market: Size, Trends and Forecast (2019-2023)

Global Business Travel Market: Size, Trends and Forecast (2019-2023)

Scope of the Report

The report entitled “Global Business Travel Market: Size, Trends and Forecast (2019-2023)” provides an in-depth analysis of the business travel market including detailed description of market sizing and growth. The report provides an analysis of the global business travel market by value and also includes regional analysis of the business travel market for the following regions: China, the US, Germany, Japan, United Kingdom, France, South Korea, India, Italy, Canada, Brazil, Australia, Spain, Netherlands, Russia and ROW (Rest of the world).

Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global business travel market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The major players dominating the business travel market are Carlson Holdings, Inc. (Carlson Wagonlit Travel), American Express Company (American Express Global Business Travel), Expedia Group, Inc. and BCD Group (BCD Travel). The four companies have been profiled in the report providing their business overview, financial overview and business strategies.

Country Coverage

China, US, Germany, UK, South Korea, India, Canada, Australia, Netherlands, Japan, France, Italy, Brazil, Spain, Russia, ROW

Company Coverage

Carlson Holdings, Inc. (Carlson Wagonlit Travel)
American Express Company (American Express Global Business Travel)
Expedia Group, Inc.
BCD Group (BCD Travel)

Executive Summary

Business travel is undertaken by people for the growth and development of their businesses and includes various activities such as transportation, accommodation, business work, etc. Business travel also enables a company in expanding their global presence through networking.

With the growth of business travel, the need for providing managed travel services is also growing rapidly. Many companies form their own corporate travel policies in order to meet the traveling requirements of their employees. Companies can manage their business travel requirements by utilizing the business travel programs or services offered by various travel management companies or by providing the facilities of online or self-booking tools to their employees.

Business travel has been segmented on the basis of type, purpose, service, traveler and industry. The major types of business travel include managed and unmanaged business travel. On the basis of purpose, business travel has been divided into marketing, trade shows, client meetings and others. On the basis of services, business travel has been segmented into transportation, food and lodging and recreation. The two main industries which require business travel are government and the corporate industry. On the basis of traveler, business travel has been segregated into solo and group travelers.

The global business travel market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as increasing internet penetration, growth in internet of things (IoT), increasing involvement of artificial intelligence, globalization etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are data breaches and use of videoconferencing by small and medium enterprises (SMEs).


1. Executive Summary
2. Introduction
2.1 Business Travel: An Overview
2.1.1 Business Travel Types
Table 1: Types of Business Travel
Table 2: Types of Business Travel
2.2 Business Travel Segmentation: An Overview
2.2.1 Business Travel Segmentation by Type and Purpose
Table 3: Business Travel Segmentation by Type and Purpose
2.2.2 Business Travel Segmentation by Service, Traveler and Industry
Table 4: Business Travel Segmentation by Service, Traveler and Industry
2.3 Business Travel Management: An Overview
Table 5: Travel Management Companies (TMCs) Limitations
Table 6: Online Business Tools (OBTs) Advantages
3. Global Market Analysis
3.1 Global Business Travel Market: An Analysis
3.1.1 Global Business Travel Market by Value
Table 7: Global Business Travel Market by Value; 2014-2018 (US$ Trillion)
Table 8: Global Business Travel Market by Value; 2019-2023 (US$ Trillion)
3.1.2 Global Business Travel Market by Region (China, Germany, UK, India, South Korea, Brazil, Spain, Russia, the US, Japan, France, Italy, Canada, Australia, Netherlands and ROW)
Table 9: Global Business Travel Market by Region; 2018 (Percentage, %)
4. Regional Market Analysis
4.1 China Business Travel Market: An Analysis
4.1.1 China Business Travel Market by Value
Table 10: China Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 11: China Business Travel Market by Value; 2019-2023 (US$ Billion)
4.2 The US Business Travel Market: An Analysis
4.2.1 The US Business Travel Market by Value
Table 12: The US Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 13: The US Business Travel Market by Value; 2019-2023 (US$ Billion)
4.2.2 The US Business Travel Market by Volume
Table 14: The US Business Travel Market by Volume; 2014-2018 (Million)
Table 15: The US Business Travel Market by Volume; 2019-2023 (Million)
4.3 Germany Business Travel Market: An Analysis
4.3.1 Germany Business Travel Market by Value
Table 16: Germany Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 17: Germany Business Travel Market by Value; 2019-2023 (US$ Billion)
4.4 Japan Business Travel Market: An Analysis
4.4.1 Japan Business Travel Market by Value
Table 18: Japan Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 19: Japan Business Travel Market by Value; 2019-2023 (US$ Billion)
4.5 UK Business Travel Market: An Analysis
4.5.1 UK Business Travel Market by Value
Table 20: UK Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 21: UK Business Travel Market by Value; 2019-2023 (US$ Billion)
4.6 France Business Travel Market: An Analysis
4.6.1 France Business Travel Market by Value
Table 22: France Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 23: France Business Travel Market by Value; 2019-2023 (US$ Billion)
4.7 South Korea Business Travel Market: An Analysis
4.7.1 South Korea Business Travel Market by Value
Table 24: South Korea Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 25: South Korea Business Travel Market by Value; 2019-2023 (US$ Billion)
4.8 India Business Travel Market: An Analysis
4.8.1 India Business Travel Market by Value
Table 26: India Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 27: India Business Travel Market by Value; 2019-2023 (US$ Billion)
4.9 Italy Business Travel Market: An Analysis
4.9.1 Italy Business Travel Market by Value
Table 28: Italy Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 29: Italy Business Travel Market by Value; 2019-2023 (US$ Billion)
4.10 Canada Business Travel Market: An Analysis
4.10.1 Canada Business Travel Market by Value
Table 30: Canada Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 31: Canada Business Travel Market by Value; 2019-2023 (US$ Billion)
4.11 Brazil Business Travel Market: An Analysis
4.11.1 Brazil Business Travel Market by Value
Table 32: Brazil Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 33: Brazil Business Travel Market by Value; 2019-2023 (US$ Billion)
4.12 Australia Business Travel Market: An Analysis
4.12.1 Australia Business Travel Market by Value
Table 34: Australia Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 35: Australia Business Travel Market by Value; 2019-2023 (US$ Billion)
4.13 Spain Business Travel Market: An Analysis
4.13.1 Spain Business Travel Market by Value
Table 36: Spain Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 37: Spain Business Travel Market by Value; 2019-2023 (US$ Billion)
4.14 Netherlands Business Travel Market: An Analysis
4.14.1 Netherlands Business Travel Market by Value
Table 38: Netherlands Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 39: Netherlands Business Travel Market by Value; 2019-2023 (US$ Billion)
4.15 Russia Business Travel Market: An Analysis
4.15.1 Russia Business Travel Market by Value
Table 40: Russia Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 41: Russia Business Travel Market by Value; 2019-2023 (US$ Billion)
4.16 ROW Business Travel Market: An Analysis
4.16.1 ROW Business Travel Market by Value
Table 42: ROW Business Travel Market by Value; 2016-2018 (US$ Billion)
Table 43: ROW Business Travel Market by Value; 2019-2023 (US$ Billion)
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Rising Adoption of Cloud Technology
Table 44: Global Public Cloud Computing Market by Value; 2013-2020 (US$ Billion)
5.1.2 Increasing Internet Penetration
Table 45: Global Internet Penetration; 2014-2021 (Percentage, %)
5.1.3 Growing Role of Big Data
Table 46: Global Big Data Market Revenue; 2014-2020 (US$ Billion)
5.1.4 Growth in IoT (Internet of Things)
Table 47: Global Internet of Things (IoT) Connected Devices Installed Base; 2015-2025 (Billion)
5.1.5 Increasing Involvement of Artificial Intelligence
Table 48: Global Artificial Intelligence Market Revenue; 2016-2025 (US$ Billion)
5.1.6 Rising GDP Per Capita
Table 49: Global GDP Per Capita; 2015-2023 (US$ Thousand)
5.2 Challenges
5.2.1 Data Breaches
5.2.2 Use of Videoconferencing by Small and Medium Enterprises (SMEs)
5.2.3 Rising Hotel Costs
5.3 Market Trends
5.3.1 Increasing Use of Blockchain Technology
Table 50: Global Blockchain Technology Market by Value; 2016-2021 (US$ Billion)
5.3.2 Growing Number of Mobile Bookings
Table 51: Global Mobile App Downloads; 2017-2022 (Billion)
5.3.3 E-Travel
Table 52: Global E-Travel Revenue; 2016-2022 (US$ Billion)
5.3.4 Rise in Bleisure Travel
6. Competitive Landscape
6.1 Global Business Travel Market Players: Financial Comparison
Table 53: Global Business Travel Market Players Financial Comparison; 2018
6.2 Global Business Travel Market Players by Total Transacted Value (TTV)
Table 54: Global Business Travel Market Players by Total Transacted Value (TTV)
7. Company Profiles
7.1 Carlson Holdings, Inc. (Carlson Wagonlit Travel)
7.1.1 Business Overview
7.1.2 Business Strategy
7.2 American Express Company (American Express Global Business Travel)
7.2.1 Business Overview
7.2.2 Financial Overview
Table 55: American Express Company Total Revenue; 2014-2018 (US$ Billion)
Table 56: American Express Company Total Revenue by Segments; 2018 (Percentage, %)
Table 57: American Express Company Total Revenue by Region; 2018 (Percentage, %)
7.2.3 Business Strategy
7.3 Expedia Group, Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
Table 58: Expedia Group, Inc. Revenue; 2014-2018 (US$ Billion)
Table 59: Expedia Group, Inc. Revenue by Segments; 2018 (Percentage, %)
Table 60: Expedia Group, Inc. Revenue by Region; 2018 (Percentage, %)
7.3.3 Business Strategy
7.4 BCD Group (BCD Travel)
7.4.1 Business Overview
7.4.2 Business Strategy

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