openPR Logo
Press release

Business Travel Lodging Market Size Exceed To Reach US $450.80 Billion, Growing at a CAGR of 14.77% From 2021 to 2028

05-26-2023 05:19 AM CET | Tourism, Cars, Traffic

Press release from: Allied Market Research

Business Travel Lodging Market Size Exceed To Reach US $450.80

According to a new report published by Allied Market Research, titled, "Business Travel Lodging Market by Enterprise Size and Industry: Opportunity Analysis and Industry Forecast, 2021-2028," the global business travel lodging market size was valued at $257.40 billion in 2018, and is estimated to reach $450.80 billion by 2028, growing at a CAGR of 14.77% from 2021 to 2028.

Request Free Sample PDF Of This Report :

Huge developments in the travel industry and rise in the number of SMEs have given way to increasing business travelers traveling from one place to another. Several corporate establishments are also making tie-ups with the prominent business travel organizations so as to provide personalized collaborative rooms and team-building movements, which has again turned out to be another key driving factor for the growth of the global business travel lodging market.

The business travel lodging market presents several opportunities for businesses to capitalize on. One such opportunity is the growing demand for sustainable and socially responsible travel, as more travelers seek out eco-friendly and ethical lodging options. Additionally, with the rise of remote work, there may be an increased demand for "workation" packages, which combine work and leisure in a single location. Another opportunity is the growing use of technology in the industry, which presents opportunities for businesses to innovate and streamline their operations, as well as enhance the guest experience. Finally, there may be opportunities to cater to niche markets and demographics, such as solo female travelers or those seeking wellness-focused accommodations.

However, some experts predict that as the world gradually recovers from the pandemic, there may be a shift towards more sustainable and socially responsible travel choices, as well as an increased focus on wellness and work-life balance. Additionally, technology is likely to continue to play a larger role in the industry, with more advanced booking and communication tools, as well as greater use of automation and artificial intelligence. Overall, the market is expected to continue evolving and adapting to changing consumer preferences and needs.

Key Take Away :

Large Enterprises would exhibit the highest CAGR of 15.48% during 2021-2028

Hospitality would exhibit the highest CAGR of 16.59% during 2021-2028

Asia-Pacific would exhibit the highest CAGR of 15.71% during 2021-2028

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%

The large enterprises segment to maintain its leadership status throughout the forecast period
Based on enterprise size, the large enterprises segment held the highest market share in 2020, accounting for more than two-fifths of the global business travel lodging market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 15.4% from 2021 to 2028, owing to the rising consumer preferences towards lodging comforts, amenities, and recreational services on the premises.


The retail & consumer goods segment to maintain its lead position during the forecast period

Based on industry, the retail & consumer goods segment accounted for the largest share in 2020, contributing to nearly one-fifth of the global business travel lodging market, and is projected to maintain its lead position during the forecast period. This is owing to rapid development in the sector's growth, increasing consumers spending over the retail products, and offerings of tremendous business opportunities for the manufacturers in the sector. However, the hospitality segment is expected to portray the largest CAGR of 16.5% from 2021 to 2028.

Asia-Pacific, followed by Europe & North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global business travel lodging market. Moreover, the same region is expected to witness the fastest CAGR of 15.7% during the forecast period. This is attributed to increasing industrialization and rapidly growing sectors such as food, pharmaceuticals, and others.

For Purchase Enquiry @

Reasons to Buy This Event Services Market Report:

Mergers and acquisitions should be well-planned by identifying the best manufacturer.
Sort new clients or possible partners into the demographic you're looking for.

Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.

Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.

To increase and grow business potential and reach, develop and plan licensing and licensing strategies by finding possible partners with the most appealing projects.

Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors

Trending Report :-

Agritourism Market :

Domestic Tourism Market :

Outbound MICE Market :

Europe Travel Retail Market :

Camping Utensils Market :

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975

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 "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 domains.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Business Travel Lodging Market Size Exceed To Reach US $450.80 Billion, Growing at a CAGR of 14.77% From 2021 to 2028 here

News-ID: 3067239 • Views: 432

More Releases from Allied Market Research

Survival Tools Market Set to Reach $2,481.6 million by 2030, Driven by Increasin …
According to a new report published by Allied Market Research, titled, "Survival Tools Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global survival tools market size was valued at $1,279.6 million in 2020, and is projected to reach $2,481.6 million by 2030, registering a CAGR of 7.1% from 2021 to 2030. Survival tools are one of the most integral parts of recreational
Vending Machine Market : Rising Valuation to Reach $37.2 billion by 2032, Fueled …
Manufacturers are developing and launching Internet of things (IoT)-based vending machines. This has enabled real-time data collection and an end-to-end IoT service to better monitor the machines. As a result, it has become more convenient to gather consumer experience & expectations and provide an enhanced consumer shopping experience. Constant innovation and technological developments have led the industry to offer more modern, on-the-go solutions that are parallel with shifts in consumer
Photography Services Market Share Will help Upgrade the Revenue by about $56 Bil …
The photographic service market shows high growth potential in Europe and Asia-Pacific regions. The photographic service market in Europe is a dynamic and diverse industry, encompassing a wide range of products and services catering to various customer segments. Europe is home to many of the world's leading camera and photographic service equipment manufacturers, as well as numerous photographic service-related businesses and service providers. One of the key sub-segments of the
Robotic Pool Cleaner Market is set to Reach $2,483.50 million, Expanding at a CA …
The proposed Robotic Pool Cleaner Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics. According to a new report published by Allied Market

All 5 Releases

More Releases for CAGR

Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn. Predictive analytics is segmented into: Risk management:
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population. ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and