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At a 14.77% CAGR | Business Travel Lodging Market Size Expected to reach $450.80 billion
๐ ๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐๐๐ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/request-sample/16244
Business travel lodging refers to the activity of travelling for the purpose of business needs and staying in hotels, resorts, and other properties on a short-term basis. The purpose is for various business requirements such as meetings, negotiate deals, networking, trade shows, and exhibitions. Business travel is done mainly for building partnerships, joint ventures, meeting suppliers and customers, maintaining relation between companies, and promotion of product or service.
The growing popularity of incorporating business with recreational or leisure activities to relieve stress and enhance work-efficiency is encouraging the global business travel lodging providers to incorporate modern amenities and services in their properties. The development and growth of various online travel agencies (OTA) such as booking.com, KAYAK, and Expedia, are contributing toward the growth of the global business travel lodging market. Moreover, the growth of the business travel lodging industry is driven by expansion of the travel & tourism industry, surge in government initiatives for the development of MICE (meetings, incentives, conferences, and events) segment & SME sector, and increase in globalization of business. The business travel lodging market trends such as bleisure travel (business + leisure), IoT (internet of things), development of smart hotels, virtual reality for hotel bookings, and personalization are responsible for fueling the lodging market.
Business travel lodging market analysis asures that these developments in hotels are expected to lead to the growth of the food & lodging segment as well as the overall business travel lodging market in the future. Moreover, use of robotics technology is a trending factor that attracts customers to hotels. Robots are being used in hotels for greeting guests, providing information, luggage handling, and cleaning purposes. In restaurants, robots can be potentially used in food service and food preparation roles that may foster the growth of the business travel lodging market in the future.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/checkout-final/baad2a5360e80dd02d8e21bb46b7aca9
There are various technological advancements that have emerged in recent years and are being adopted by the accommodation and lodging stakeholders. The popular technologies such as virtual reality, augmented reality, artificial intelligence, chat bots, voice search & voice control technology, and internet of things (IoT) are used by the players operating in the business travel lodging market. Voice search, chat bots are used in the websites to provide customers the convenience and ease of booking hotels and tickets. With the help of virtual reality, customers can take a complete tour of the hotels, restaurants, and landscapes by sitting in the comfort of their home and decide whether to book a hotel or not. Moreover, robotics technology is also being used in hotels and restaurants.
Robots can be used in hotels for cleaning, luggage handling, and greeting guests that may help to attract customers. All these technologies are expected to drive the global business travel lodging market in the future. Business Travel Lodging Market Growth is expected to experience high demand in Asia-Pacific during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/16244
Key findings of the study
โข The global business travel lodging market size was valued at $257.4 billion in 2018, and is estimated to reach $450.5 billion by 2028, registering a CAGR of 14.8% from 2021 to 2028.
โข By enterprise size, the large enterprises segment is estimated to witness the fastest growth, registering a CAGR of 15.5% during the business travel lodging market forecast period.
โข In 2020, depending on industry, the hospitality segment was valued at $9.3 billion in business travel lodging market share.
โข In 2020, the U.S. was the most prominent market in North America, and is projected to reach $96.4 billion by 2028, growing at a CAGR of 13.8% during the forecast period.
Business Travel Lodging Market Report Highlights
By Enterprise Size
โข Small Enterprises
โข Medium Enterprises
โข Large Enterprises
By Industry
โข Construction And Engineering
โข Pharmaceutical And Healthcare
โข Agriculture Food And Beverage
โข Hospitality
โข Business Services And Consulting
โข It Technology And Telecom
โข Finance And Insurance
โข Non Profit Organizations
โข Transport And Logistics
โข Retail And Consumer Goods
โข Energy And Utilities
โข Others
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:-
โข Capsule Hotel Market
https://www.einpresswire.com/article/697055005/capsule-hotel-market-size-share-to-surpass-276-2-million-by-2028-exhibiting-a-cagr-of-8-2
โข Hotel Toiletries Market
https://www.einpresswire.com/article/696754864/at-a-10-8-cagr-hotel-toiletries-market-expected-to-reach-50-5-billion-by-2031
โข Disposable Cutlery Market
https://www.einpresswire.com/article/696742106/16-2-billion-of-disposable-cutlery-market-is-slated-to-increase-at-a-cagr-of-4-8-by-2031
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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