Increase In Exhibitions Driving Growth In The Business Travel Market: Strategic Insights Driving Business Travel Market Momentum in 2025

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How Large Will the Business Travel Market Size By 2025?
In recent years, the business travel market has seen rapid expansion. The market, which was valued at $908.28 billion in 2024, is expected to soar to $1015.71 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.8%. Key contributors to historical growth include the industrial revolution, the rising links between worldwide economies, the expansion of multinational corporation meetings, an uptick in conferences and trade exhibitions, and the emergence of technology companies.

How Big Is the Business Travel Market Size Expected to Grow by 2029?
Expectations are high for a rapid expansion in the business travel market size in the coming years. The projected growth would catapult the market to a staggering value of $1606.58 billion by 2029, equating to a compound annual growth rate (CAGR) of 12.1%. This predicted progress during the forecast period can be linked to various factors such as a robust economy, the increase in business activities, higher investments being made in business travels, generous travel policies, and the continuous globalization of multinational corporations. Major trends forecasted during this period include the rise in travel technology innovations, the evolution of online booking platforms, the integration of AI technologies, a stronger focus on sustainability, and a shift towards more eco-friendly travel options.

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Which Key Market Drivers Powering Business Travel Market Expansion and Growth?
The growth of the business travel sector is anticipated to be fueled by the rise in exhibitions. Exhibitions are organized events where objects such as products, art, or information are put on display for the public. With organizations recognizing their value in enabling direct connections with customers and establishing brand visibility in highly competitive environments, exhibitions are gaining traction. They function as critical hubs within the business travel industry, providing a platform for businesses to network, present their products, and foster customer relationships on an international level. For example, a report published by the France-based Global Association of the Exhibition Industry, UFI, in February 2024 stated that the exhibition industry in the majority of global markets had bounced back from the 2023 pandemic-induced dip, with revenues equating to those of 2019. The forecast for 2024 is encouraging, with an anticipated average revenue growth of 15%, positioning the industry for record-breaking revenue levels. As a result, the escalating number of exhibitions is propelling the expansion of the business travel industry.

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Which Fast-Growing Trends Are Poised to Disrupt the Business Travel Market?
Leading firms in the business travel market are introducing groundbreaking products like AI-facilitated flight arranging platforms to refine bookings, improve the experience of travelers, and boost cost effectiveness. AI-facilitated flight sorting platforms, which employ artificial intelligence algorithms to evaluate and rank flight alternatives according to factors like safety, cost efficacy, flight duration, and personal choices of travelers, are a type of digital tool. For instance, BCD Travel, a business travel firm based in the Netherlands, rolled out GetGoing, an integrated digital platform especially designed for small and medium enterprises in the U.S, in July 2023. Merging the ease of self-service with expert guidance, GetGoing provides booking, policy automation, report generation, features for the safety of travelers, and expert assistance. By simplifying travel management procedures, GetGoing enables effortless booking and policy creation, along with live reporting for cost optimization.

What Are the Emerging Segments in the Business Travel Market?
The business travel market covered in this report is segmented -

1) By Type: Managed Business Travel, Unmanaged Business Travel
2) By Service: Transportation, Food And Lodging, Business Activity
3) By Age Group: Marketing Travel Fare Travelers Below 40 Years, Travelers Above 40 Years
4) By Purpose: Marketing, Meetings, Trade Shows Or Exhibitions, Product Launch, Other Purposes
5) By Industry: Government, Corporate

Subsegments:
1) By Managed Business Travel: Corporate Travel Programs, Travel Management Companies (Tmcs), Online Booking Tools (Obts)
2) By Unmanaged Business Travel: Self-Booking, Direct Supplier Booking, Ad-Hoc Travel

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Who Are the Global Leaders in the Business Travel Market?
Major companies operating in the business travel market are American Express Company, Delta Air Lines, United Airlines Inc., Lufthansa Ltd., British Airways plc, Travelport Worldwide Ltd., SAP Concur, Orbitz, BCD Group, Navan Inc., Carlson Wagonlit Travel (CWT), Upside Business Travel, Corporate Travel Management Ltd., Clarity Business Travel Agency, FCM Travel Solutions, Paxes, Deem Inc., TravelPerk, SOTC Travel Limited, Serko Ltd., Thomas Cook, Wexas Travel Management

Which are the Top Profitable Regional Markets for the Business Travel Industry?
Asia-Pacific was the largest region in the business travel market in 2023. The regions covered in the business travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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