Press release
Business Travel Market Key Players| Airbnb Inc., American Express Travel, Expedia Inc., BCD Travel, Carlson Wagonlit Travel, Flight Centre Travel Group, Hogg Robinson Group
The global business travel market generated revenue of $1,266 billion in 2016, and is expected to grow at a CAGR of 4.1% to reach $1,657 billion by 2023. Business travel is a division of regular tourism in which people travel for a business-oriented purpose. It includes transportation, accommodation, business work, entertainment, and other activities. Global travel & tourism industry is one of the largest industries with global economic contribution of more than $7000 billion. The business travel segment shows the highest growth rate in this industry, as employees working in multinational organizations are often required to travel across various countries for business purposes. In business tourism, destinations are commercial places, which are well-developed and suited for trade work.
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Numerous companies in this field are trying to provide well-managed and cost-effective programs to the customers with the rise in demand for business travel management. The growth of the global business travel market is driven by the 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. However, surge in adoption of advanced technology such as video conferencing hampers the market growth, as it is cost-effective and less time-consuming as compared to travelling. Conversely, increase in infrastructural investment and rapid growth in travel retail market are anticipated to provide lucrative opportunities for the business travel market.
The market is segmented on the basis of service, industry, traveler, and geography. Based on service, the market is classified into transportation, food & lodging, and recreation. By industry, it is bifurcated into government and corporate. Depending on traveler, it is categorized into solo traveler and group traveler.
Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major companies profiled in the business travel market include Airbnb Inc., American Express Travel, Expedia Inc., BCD Travel, Carlson Wagonlit Travel, Flight Centre Travel Group, Hogg Robinson Group, The Priceline Group, Fareportal, Inc. (travelong inc.), and Wexas Travel.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an in-depth analysis of the global business travel market to identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the business travel market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
- Quantitative analysis of the business travel industry from 2016 to 2023 is highlighted to recognize the financial competency of the market.
- Porter's Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
KEY MARKET SEGMENTS
By Service
- Transportation
- Food & lodging
- Recreation activity
By Industry
- Government
- Corporate
By Traveler
- Group
- Solo
By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Italy
- France
- Germany
- Spain
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa
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Table of Contents:
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top impacting factors
3.2.3. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET PLAYERS POSITIONING
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Development of the travel & tourism industry
3.5.1.2. Increase in globalization of business
3.5.1.3. Rapid increase in SMEs
3.5.2. Restraint
3.5.2.1. High adoption of technology
3.5.3. Opportunities
3.5.3.1. Infrastructural investment
3.5.3.2. Rapid growth in the travel retail market
CHAPTER 4 BUSINESS TRAVEL MARKET, BY SERVICE
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. TRANSPORTATION
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.3. FOOD & LODGING
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.4. RECREATIONAL ACTIVITIES
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
CHAPTER 5 BUSINESS TRAVEL MARKET, BY INDUSTRY
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. GOVERNMENT
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.3. CORPORATE
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
CHAPTER 6 BUSINESS TRAVEL MARKET, BY TRAVELER
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. GROUP TRAVEL
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.3. SOLO TRAVEL
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
CHAPTER 7 BUSINESS TRAVEL MARKET, BY GEOGRAPHY
7.1. OVERVIEW
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast
7.2.2.1. U.S.
7.2.2.2. Canada
7.2.2.3. Mexico
7.3. EUROPE
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast
7.3.2.1. UK
7.3.2.2. Germany
7.3.2.3. France
7.3.2.4. Spain
7.3.2.5. Italy
7.3.2.6. Rest of Europe
7.4. ASIA-PACIFIC
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast
7.4.2.1. China
7.4.2.2. India
7.4.2.3. Japan
7.4.2.4. Rest of Asia-Pacific
7.5. LAMEA
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast
7.5.2.1. Brazil
7.5.2.2. Turkey
7.5.2.3. South Africa
7.5.2.4. Saudi Arabia
7.5.2.5. Rest of LAMEA
Continue….
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