Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 1.56 Billion |
| USD 2.62 Billion | |
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Global Business Travel Market, By 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) - Industry Trends and Forecast to 2030.
Business travel is a partition of regular tourism in which people travel for a business related purpose. In this includes business work, entertainment, transportation, accommodation, and other activities. Global business travel industry is one of the major industries with global economic contribution.
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. “Food & lodging segment” dominates the service segment of the global business travel market part owing to growing penetration of hotel booking agents such as Airbnb and Oravel Stays, are fostering the growth of the food and lodging segment. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Tons, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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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.)
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Market Opportunities
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Market Definition
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.
Drivers
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
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
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 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
Restraint/Challenge
Rise in the advanced technology such as video conferencing is expected to hamper the growth of the business travel market globally because it is less time-consuming and cost-effective compared to travelling. Furthermore, the outbreak of COVID-19 implementing the lockdown globally is also expected to challenge the business travel market globally during the forecast period
Recent Developments
The business travel market is segmented on the basis of type, purpose, expenditure, age group, traveller, service and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Purpose
Expenditure
Age Group
Traveller
Service
Industry
The business travel market is analysed and market size insights and trends are provided by type, purpose, expenditure, age group, traveller, service and industry as referenced above.
The countries covered in the business travel market report are 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.
Asia-Pacific dominates the business travel market in terms of revenue and market share during the forecast period. This is due to the increasing demand for business travel in this region. The Asia-Pacific region leads the business travel market due to the strong economic growth, high penetration of technology and internet and rise in IoT, supporting both travel operators and travellers in this region.
During the projected period, North America is estimated to be the fastest developing region due to rising government initiatives to attract FDIs (foreign direct investments), increasing business activities, and continuous infrastructural development in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The global business travel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to global business travel market.
Some of the major players operating in the global business travel market are:
SKU-
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF GLOBAL BUSINESS TRAVEL MARKET
1.4 CURRENCY AND PRICING
1.5 LIMITATION
1.6 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 KEY TAKEAWAYS
2.2 ARRIVING AT THE GLOBAL BUSINESS TRAVEL MARKET SIZE
2.3 VENDOR POSITIONING GRID
2.4 MARKETS COVERED
2.5 GEOGRAPHIC SCOPE
2.6 YEARS CONSIDERED FOR THE STUDY
2.7 RESEARCH METHODOLOGY
2.8 TECHNOLOGY LIFE LINE CURVE
2.9 MULTIVARIATE MODELLING
2.1 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS
2.11 DBMR MARKET POSITION GRID
2.12 MARKET APPLICATION COVERAGE GRID
2.13 DBMR MARKET CHALLENGE MATRIX
2.14 IMPORT AND EXPORT DATA
2.15 SECONDARY SOURCES
2.16 GLOBAL BUSINESS TRAVEL MARKET: RESEARCH SNAPSHOT
2.17 ASSUMPTIONS
3 MARKET OVERVIEW
3.1 DRIVERS
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 CHALLENGES
4 EXECUTIVE SUMMARY
5 PREMIUM INSIGHTS
5.1 CONSUMER BUYING BEHAVIOUR
5.2 FACTORS AFFECTING BUYING DECISION
5.3 PRODUCT ADOPTION SCENARIO
5.4 PORTER’S FIVE FORCES
5.5 REGULATION COVERAGE
5.6 RAW MATERIAL SOURCING ANALYSIS
5.7 IMPORT EXPORT SCENARIO
6 PRICE INDEX
7 BRAND OUTLOOK
7.1 BRAND COMPARATIVE ANALYSIS
7.2 PRODUCT VS BRAND OVERVIEW
8 IMPACT OF ECONOMIC SLOWDOWN
8.1 IMPACT ON PRICES
8.2 IMPACT ON SUPPLY CHAIN
8.3 IMPACT ON SHIPMENT
8.4 IMPACT ON DEMAND
8.5 IMPACT ON STRATEGIC DECISIONS
9 GLOBAL BUSINESS TRAVEL MARKET, BY PURPOSE TYPE, (2022-2031) (USD MILLION)
9.1 OVERVIEW
9.2 MARKETING
9.3 INTERNAL MEETINGS
9.4 TRADE SHOWS
9.5 PRODUCT LAUNCH
9.6 OTHERS
10 GLOBAL BUSINESS TRAVEL MARKET, BY EXPENSES, (2022-2031) (USD MILLION)
10.1 OVERVIEW
10.2 TRAVEL FARE
10.3 LODGING
10.4 DINING
10.5 OTHERS
11 GLOBAL BUSINESS TRAVEL MARKET, BY AGE GROUP, (2022-2031) (USD MILLION)
11.1 OVERVIEW
11.2 TRAVELERS BELOW 40 YEARS
11.3 TRAVELERS ABOVE 40 YEARS
12 GLOBAL BUSINESS TRAVEL MARKET, BY SERVICE TYPE, (2022-2031) (USD MILLION)
12.1 OVERVIEW
12.2 TRANSPORTATION
12.3 FOOD AND LODGING
12.4 RECREATIONAL ACTIVITIES
12.5 OTHERS
13 GLOBAL BUSINESS TRAVEL MARKET, BY TRAVELLER, (2022-2031) (USD MILLION)
13.1 OVERVIEW
13.2 GROUP TRAVEL
13.3 SOLO TRAVEL
14 GLOBAL BUSINESS TRAVEL MARKET, BY INDUSTRY, (2022-2031) (USD MILLION)
14.1 OVERVIEW
14.2 GOVERNMENT
14.3 CORPORATE
14.4 OTHERS
15 GLOBAL BUSINESS TRAVEL MARKET, BY GEOGRAPHY, (2022-2031) (USD MILLION)
15.1 NORTH AMERICA
15.1.1 U.S.
15.1.2 CANADA
15.1.3 MEXICO
15.2 EUROPE
15.2.1 GERMANY
15.2.2 U.K.
15.2.3 ITALY
15.2.4 FRANCE
15.2.5 SPAIN
15.2.6 RUSSIA
15.2.7 SWITZERLAND
15.2.8 TURKEY
15.2.9 BELGIUM
15.2.10 NETHERLANDS
15.2.11 LUXEMBURG
15.2.12 REST OF EUROPE
15.3 ASIA-PACIFIC
15.3.1 JAPAN
15.3.2 CHINA
15.3.3 SOUTH KOREA
15.3.4 INDIA
15.3.5 SINGAPORE
15.3.6 THAILAND
15.3.7 INDONESIA
15.3.8 MALAYSIA
15.3.9 PHILIPPINES
15.3.10 AUSTRALIA & NEW ZEALAND
15.3.11 REST OF ASIA-PACIFIC
15.4 SOUTH AMERICA
15.4.1 BRAZIL
15.4.2 ARGENTINA
15.4.3 REST OF SOUTH AMERICA
15.5 MIDDLE EAST AND AFRICA
15.5.1 SOUTH AFRICA
15.5.2 EGYPT
15.5.3 SAUDI ARABIA
15.5.4 UNITED ARAB EMIRATES
15.5.5 ISRAEL
15.5.6 REST OF MIDDLE EAST AND AFRICA
16 GLOBAL BUSINESS TRAVEL MARKET, COMPANY LANDSCAPE
16.1 COMPANY SHARE ANALYSIS: GLOBAL
16.2 COMPANY SHARE ANALYSIS: NORTH AMERICA
16.3 COMPANY SHARE ANALYSIS: EUROPE
16.4 COMPANY SHARE ANALYSIS: ASIA-PACIFIC
16.5 MERGERS AND ACQUISITIONS
16.6 NEW PRODUCT DEVELOPMENT AND APPROVALS
16.7 EXPANSIONS
16.8 PARTNERSHIP AND OTHER STRATEGIC DEVELOPMENTS
17 SWOT AND DATA BRIDGE MARKET RESEARCH ANALYSIS
18 GLOBAL BUSINESS TRAVEL MARKET - COMPANY PROFILES
18.1 AIRBNB INC.
18.1.1 COMPANY SNAPSHOT
18.1.2 REVENUE ANALYSIS
18.1.3 PRODUCT PORTFOLIO
18.1.4 RECENT UPDATES
18.2 AMERICAN EXPRESS COMPANY
18.2.1 COMPANY SNAPSHOT
18.2.2 REVENUE ANALYSIS
18.2.3 PRODUCT PORTFOLIO
18.2.4 RECENT UPDATES
18.3 BCD TRAVEL
18.3.1 COMPANY SNAPSHOT
18.3.2 REVENUE ANALYSIS
18.3.3 PRODUCT PORTFOLIO
18.3.4 RECENT UPDATES
18.4 BOOKING HOLDINGS INC.
18.4.1 COMPANY SNAPSHOT
18.4.2 REVENUE ANALYSIS
18.4.3 PRODUCT PORTFOLIO
18.4.4 RECENT UPDATES
18.5 TRIP.BIZ (CTRIP CORPORATE TRAVEL HOLDING (HONG KONG) LIMITED)
18.5.1 COMPANY SNAPSHOT
18.5.2 REVENUE ANALYSIS
18.5.3 PRODUCT PORTFOLIO
18.5.4 RECENT UPDATES
18.6 EGENCIA
18.6.1 COMPANY SNAPSHOT
18.6.2 REVENUE ANALYSIS
18.6.3 PRODUCT PORTFOLIO
18.6.4 RECENT UPDATES
18.7 EXECUTIVE TRAVEL
18.7.1 COMPANY SNAPSHOT
18.7.2 REVENUE ANALYSIS
18.7.3 PRODUCT PORTFOLIO
18.7.4 RECENT UPDATES
18.8 EXPEDIA GROUP INC (EXPEDIA GROUP COMPANY)
18.8.1 COMPANY SNAPSHOT
18.8.2 REVENUE ANALYSIS
18.8.3 PRODUCT PORTFOLIO
18.8.4 RECENT UPDATES
18.9 FCM TRAVEL
18.9.1 COMPANY SNAPSHOT
18.9.2 REVENUE ANALYSIS
18.9.3 PRODUCT PORTFOLIO
18.9.4 RECENT UPDATES
18.1 FLIGHT CENTRE TRAVEL GROUP
18.10.1 COMPANY SNAPSHOT
18.10.2 REVENUE ANALYSIS
18.10.3 PRODUCT PORTFOLIO
18.10.4 RECENT UPDATES
18.11 MONTROSE TRAVEL (CORPORATE TRAVEL MANAGEMENT)
18.11.1 COMPANY SNAPSHOT
18.11.2 REVENUE ANALYSIS
18.11.3 PRODUCT PORTFOLIO
18.11.4 RECENT UPDATES
18.12 ORBIT WORLD
18.12.1 COMPANY SNAPSHOT
18.12.2 REVENUE ANALYSIS
18.12.3 PRODUCT PORTFOLIO
18.12.4 RECENT UPDATES
18.13 SHANDON TRAVEL
18.13.1 COMPANY SNAPSHOT
18.13.2 REVENUE ANALYSIS
18.13.3 PRODUCT PORTFOLIO
18.13.4 RECENT UPDATES
18.14 TAG GROUP
18.14.1 COMPANY SNAPSHOT
18.14.2 REVENUE ANALYSIS
18.14.3 PRODUCT PORTFOLIO
18.14.4 RECENT UPDATES
18.15 TEPLIS
18.15.1 COMPANY SNAPSHOT
18.15.2 REVENUE ANALYSIS
18.15.3 PRODUCT PORTFOLIO
18.15.4 RECENT UPDATES
18.16 FROSCH INTERNATIONAL TRAVEL( A CHASE COMPANY)
18.16.1 COMPANY SNAPSHOT
18.16.2 REVENUE ANALYSIS
18.16.3 PRODUCT PORTFOLIO
18.16.4 RECENT UPDATES
18.17 WEXAS TRAVEL
18.17.1 COMPANY SNAPSHOT
18.17.2 REVENUE ANALYSIS
18.17.3 PRODUCT PORTFOLIO
18.17.4 RECENT UPDATES
NOTE: THE COMPANIES PROFILED IS NOT EXHAUSTIVE LIST AND IS AS PER OUR PREVIOUS CLIENT REQUIREMENT. WE PROFILE MORE THAN 100 COMPANIES IN OUR STUDY AND HENCE THE LIST OF COMPANIES CAN BE MODIFIED OR REPLACED ON REQUEST
19 RELATED REPORTS
20 QUESTIONNAIRE
21 CONCLUSION
22 ABOUT DATA BRIDGE MARKET RESEARCH
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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