Business Travel Market is Forecasted to Surge USD 2.46 Billion by 2029, Size, Share, Emerging Trends, Key Growth Drivers, Challenges and Industry Revenue Outlook

The leading Business Travel Market analysis report consists of extensive study about diverse market segments and regions, emerging trends along with major drivers, challenges and opportunities in the market. Market segmentation is a significant parameter that categorizes the market depending upon application, vertical, deployment model, end-user, and geography etc. This report also provides CAGR value fluctuation in percentage during the forecast period of 2023-2030 for the market. Additionally, the widespread Business Travel Market research report has been structured by keeping in mind all the foremost aspects of the market research that put forth market landscape simply into focus.

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Business or corporate travel is the tourism segment which focuses on the people who travel for professional purposes or work and the related tourism purposes. In this branch also includes the meeting sector, which refers to business congresses, trade fairs, events, conferences and exhibitions

Living in an era, in which technology has taken us to advance levels of communication, then some people question for their need for business travel at all. Skype and Video conferencing are the fantastic source to communicate when the people working remotely, but when it comes to business crunching nobody quite beats the real life human interaction due to this increase the importance of business travel. Business travel is a partition of regular tourism in which people travel for a business related purpose. In this includes business work, entertainment, transportation, accommodation, and other activities. Global business travel industry is one of the major industries with global economic contribution. 

Data Bridge Market Research analyses that the business travel market was valued at USD 1.46 billion in 2021 and is expected to reach USD 2.46 billion by 2029, registering a CAGR of 6.73 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

This business travel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business travel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Some of the major players operating in the global business travel market are:

ADEKA CORPORATION Airbnb, Inc. (U.S.)

American Express Company (U.S.)

BCD Group (Netherland)

Booking Holdings (U.S.)

CWT Solutions (U.S.)

Corporate Travel Management (Australia)

Expedia, Inc. (U.S.)

Fareportal (U.S.)

Flight Centre Travel Group Limited (formerly Flight Centre Limited) (U.S.)

Wexas Travel (U.K.)

Hogg Robinson Ltd (U.K.)

Priceline (U.S.)

Egencia LLC (U.S.)

Frosch International Travel (U.K.)

Ovation Travel Group (U.S.)

Travel Leaders Group (U.S.)

Opportunities

Usage of Robotic Technology

The use of robotic technology can help to reduce human-to-human touch and could help the business travel market to flourish in the upcoming future. Robotics technology is a popular trend which attract customers to hotels. In hotels, robots are used to handle luggage, clean the rooms, greet guests and provide information. Robots could be used in food preparation and foodservice positions in restaurants

Increased Government Initiative and Infrastructure Investment

Increased government initiatives are driving the business travel market due to the expansion of the events (MICE), meetings, incentives and conferences, and the small and medium-sized companies (SMEs) sector. Also, increased infrastructure investment and quick expansion in the travel retail industry will act as market drivers and further increase valuable opportunities for the market's growth rate

Global Business Travel Market Scope

The business travel market is segmented on the basis of type, purpose, expenditure, age group, traveller, service and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Managed Business Travel

Unmanaged Business Travel

Purpose

Marketing

Internal Meetings

Trade Shows

Product Launch

Others

Expenditure

Marketing Travel Fare

Lodging

Dining

Others

Age Group

Marketing Travel Fare Travelers Below 40 Years

Travelers Above 40 Years

Traveller

Group Travel

Solo Travel

Service

Food and Lodging

Recreation Activity

Industry

Government

Corporate

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