Business Travel Market Overview:
Data Bridge Market Research recently added “Business Travel Market – Industry Trends and Forecast to 2026″ in his database. Global Business Travel Market is expected to rise from its initial estimated value of USD 1375.36 billion in 2018 to an estimated value of USD 1915.83 billion by 2026, registering a CAGR of 4.23% in the forecast period of 2019-2026. Rise in the travel and tourism industry is the major factor for the growth of this market.
Business travel is the journey which is done for the business or work purposes only. These are usually done to meet the customers, meeting at other company, to visit any worksite, building new partnership, strengthening relations between companies or for the promotion of any product. These days, conference rooms and meeting rooms are there in the hotel itself so that meeting can be held there.
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Major Market Players covered in the Market are:
Airbnb, Inc., American Express Company, Expedia, Inc., BCD Travel, CWT, Flight Centre Travel Group Limited, Hogg Robinson Ltd, Booking Holdings, Fareportal, WEXAS TRAVEL, Travel Leaders Group
By Service (Transportation, Food & Lodging, Recreation Activity),
By Industry (Government, Corporate),
By Traveller (Group, Solo)
The Business Travel Market report consists of streamlined financial data obtained from various research sources to supply specific and reliable analysis. The report also provides an in depth Market share perspective also as strategic recommendations, manufacturers supported the emerging segments.
- Increase in urbanization is the major factor for the growth of this market.
- Development in the travel and tourism is driving the market.
- Increase in the advanced technology like video conferencing is the major factor restraining the growth of this market.
Years that have been considered for the study of this report are as follows:
History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2020 to 2026
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Based on regions, the market is classified into North America, Europe, Asia- Pacific, Middle East & Africa, and Latin America
The Middle East and Africa (GCC Countries and Egypt)
North America (the United States, Mexico, and Canada)
South America (Brazil, Argentina etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
Key Developments in the Market:
- In February 2018, American Express Global business Travel announced the launch of its Business Travel Made offer which will help the companies to easily role out travel management platform.
- In March 2016, QuadLabs announced the launch of their new cooperate booking tool for the travel management company and business traveller across the globe so that there will be smooth relationship between the travel houses and their clients.
Reasons to choose this report:
- Major changes in market dynamics and competitive landscape.
- Segmentation on the basis of type, application, geography and others.
- Historical and future market research in terms of size, share, growth, volume & sales.
- Major changes and assessment in market dynamics & developments.
- Industry size & share analysis with industry growth and trends.
- Emerging key segments and regions
- Key business strategies by major market players and their key methods.
- Porter’s five force analysis of the market, highlighting the efficiency of purchasers and sellers to develop efficient growth strategies.
- The research report covers size, share, trends and growth analysis of the Business TravelMarket on global and regional level.
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