Business Travel Market 2023-2027
The business travel market is forecasted to grow by USD 1535.23 bn during 2022-2027, accelerating at a CAGR of 24.42% during the forecast period. The 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 market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing technological advances, the digitalization of travel payments, and the availability of business services in hotels.
Technavio's business travel market is segmented as below:
- Internal meeting
- Trade show
- Product launch
- Travel fare
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the growing preference of consumers to book through online travel agencies as one of the prime reasons driving the business travel market growth during the next few years. Also, the personalization of guest data in hotels and the growing demand for leisure travel will lead to a sizable demand in the market.
The report on the business travel market covers the following areas:
- Business travel market sizing
- Business travel market forecast
- Business travel market industry analysis
The 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., American Express Global Business Travel GBT, ATG Travel Worldwide BV, BCD Travel Services BV, Booking Holdings Inc., Christopherson Business Travel, CWT Global BV, Direct Travel Inc., Fareportal Inc., FCM Travel Solutions, Flight Centre Travel Group Ltd., JPMorgan Chase and Co., JTBUSA Inc., MakeMyTrip Ltd., Omega World Travel Inc., Travel Leaders Group Holdings LLC, UNIGLOBE Travel International Limited Partnership, Walmart Inc., and WexasA Ltd.. 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.
The publisher 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. The 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.