Press release
Business Travel Market In 2019 With Competitors Like With Airbnb, Expedia, Booking Holdings, Fareportal, WEXAS TRAVEL, BCD Travel, CWT, American Express Company, Flight Centre Travel Group Limited, Hogg Robinson Ltd, Travel Leaders Group
Business Travel Market
This Business travel market report consists of extensive study about diverse market segments and regions, emerging trends along with major drivers, challenges and opportunities in the market. The Business travel report also provides CAGR value fluctuation during the forecast period of 2018-2025 for the market. All the market parameters can be explored to analyse market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, and distributors. The wide-ranging market information of the Business travel report will surely grow business and improve return on investment (ROI).
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Market Definition: Global Business Travel 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.
Market Drivers:
· Increase in urbanization is the major factor for the growth of this market.
· Development in the travel and tourism is driving the market.
Market Restraint:
· Increase in the advanced technology like video conferencing is the major factor restraining the growth of this market.
Key Market Competitors: Global Business Travel Market
Few of the major competitors currently working in the business travel 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.
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 (Current Year Updated Statistic Will Be Provided in Report).
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Global business travel market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of business travel market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Segmentation: Global Business Travel Market
· By Service
o Transportation
o Food & Lodging
o Recreation Activity
· By Industry
o Government
o Corporate
· By Traveller
o Group
o Solo
· By Geography
o North America
· US.
· Canada
· Mexico
o South America
· Brazil
· Argentina
· Rest of South America
o Europe
· Germany
· France
· United Kingdom
· Italy
· Spain
· Russia
· Turkey
· Belgium
· Netherlands
· Switzerland
· Rest of Europe
o Asia-Pacific
· Japan
· China
· South Korea
· India
· Australia
· Singapore
· Thailand
· Malaysia
· Indonesia
· Philippines
· Rest of Asia Pacific
o Middle East & Africa
· South Africa
· Egypt
· Saudi Arabia
· United Arab Emirates
· Israel
· Rest of Middle East & Africa
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.
Key Insights in the report:
· Competitive analysis of key competitors involved in the market
· Complete analysis of Market Segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
· Market Drivers and Restraints analysis along with the analysis of the market structure
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