Global Business Travel Market 2021-2025
Technavio has been monitoring the business travel market and it is poised to grow by $ 1040.59 bn during 2021-2025, progressing at a CAGR of 23.06% during the forecast period. Our report on the business travel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by growing technological advances and digitalization of travel payments. In addition, growing technological advances is anticipated to boost the growth of the market as well.
The business travel market analysis includes expenditure and application segments and geographic landscape.
Technavio's business travel market is segmented as below:
- Travel fare
- Internal meeting
- Trade show
- Product launch
By Geographical Landscape
- North America
- South America
This study identifies the availability of business services in hotels as one of the prime reasons driving the business travel market growth during the next few years.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on business travel market covers the following areas:
- Business travel market sizing
- Business travel market forecast
- Business travel market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading business travel market vendors that include ADTRAV Corp., Airbnb Inc., BCD Travel Services BV, Booking Holdings Inc., CWT Global BV, Egencia LLC, FROSCH International Travel Inc., GBT Travel Services UK Limited d/b/a/ American Express Global Business Travel, Ovation Travel Group, and Travel Leaders Group LLC. Also, the business travel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.