Insights On Business Travel Market With Prominent Players: Airbnb, BCD Travel, WEXAS TRAVEL, Fareportal, CWT, Expedia, Inc., American Express Company, Travel Leaders Group, Hogg Robinson Ltd, Flight Centre Travel Group Limited, Booking Holdings

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.

The business travel report also offers a new project feasibility analysis, new entrants, industry barriers, SWOT analysis and suggestions on new project investment in the business travel Market. The business travel report analyzes the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in the regions like South America, Asia Pacific, North America, Europe and middle east and Africa. It also provides an advance perspective on different factors driving or restraining business travel market growth. Key product segment and their expected future is mentioned in the business travel report.

The business travel report mainly focuses on delivering competitive advantages to market players which will help them compete vigorously in the ever-changing business environment. This report includes business travel market status, advantages and disadvantages of enterprise products, competition pattern, regional characteristics, industry development trends, industrial policy, and macroeconomic policies.

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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.

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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

o South America

o Europe

o Asia-Pacific

o 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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