Business Travel Market 2022 Industry Research, Share, Trend, Price, Future Analysis to 2029 – The Colby Echo News


”The first classification Business Travel Market lookup document research a number of parameters during the document which analyzes the market repute in detail. It provides key measurements, reputation of the producers and is a primary supply of course for the companies and organizations. Such market insights can be finished with this complete market record which takes into account all the elements of cutting-edge and future market. In addition, international Business Travel Market file predicts the dimension of the market with data on key supplier revenues, improvement of the enterprise with the aid of upstream & downstream, enterprise progress, key companies, section type, & market application.

The ultimate Business Travel Market file cautiously research market definition, market segmentation, aggressive evaluation and key trends in the market. This market lookup file consists of latest, complete and most up to date market records and a valuable data. The document offers the market insights which assist to have an extra particular grasp of the market landscape, troubles that might also impose on the enterprise in the future, and how to function precise manufacturers in the pleasant way. It additionally research the market status, increase rate, future trends, market drivers, possibilities and challenges, dangers and entry barriers, income channels, and distributors with the assist of SWOT evaluation and Porter’s Five Forces Analysis.

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Market Analysis and Size

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 analyzes 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.

Report Scope and Market Segmentation

REPORT METRIC DETAILS
Forecast Period 2022 to 2029
Base Year 2021
Historic Years 2020 (Customizable to 2014 – 2019)
Quantitative Units Revenue in USD Billion, Volumes in Units, Pricing in USD
Segments Covered Type (Managed Business Travel, Unmanaged Business Travel), Purpose (Marketing, Internal Meetings, Trade Shows, Product Launch, Others), Expenditure (Travel Fare, Lodging, Dining, Others), Age Group (Travelers Below 40 Years, Travelers Above 40 Years), Traveler (Group Travel, Solo Travel), Service (Transportation, Food and Lodging, Recreation Activity), Industry (Government, Corporate)
Countries Covered US, Canada and Mexico in North America, Germany, France, UK, Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, UAE, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered Airbnb, Inc. (US), American Express Compny (US), BCD Group (Netherland), Booking Holdings (US), CWT Solutions (US), Corporate Travel Management (Australia), Expedia, Inc. (US), Fareportal (US), Flight Center Travel Group Limited (formerly Flight Center Limited) (US), Wexas Travel (UK), Hogg Robinson Ltd (UK), Priceline (US), Egencia LLC (US), Frosch International Travel (UK), Ovation Travel Group (US), Travel Leaders Group (US)
Market Opportunities
  • Increase in the number of emerging markets
  • Increasing number of product innovations
  • Rise in the use of robotic technology
  • Increased government initiative and infrastructure investment

Market Definition

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

Business Travel Market Dynamics

Drivers

  • Rising Demand of Bleisure

Bleisure travel is the form of business + leisure. The growing trend of Bleisure travel in which incorporates business offers leisure or recreational activities with pleasure elements to improve work efficiency and relieve stress. It has provided a positive growth to the market. The development of virtual reality for hotel bookings, smart hotels and personalization are all the aspects which are boosting the business travel market.

  • Increasing digitization and penetration towards internet of things

The growing digitization is initially influencing the global business travel market in the corporate and tourism sectors. Also, rising penetration of the Internet of Things (IoT) has allowed both the travel operators and the travelers to get things done swiftly and in easy way. These factors are the major reason which are expected to drive the growth of the business travel market.

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 attracts 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.

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Major Features of Business Travel Market Report:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Business Travel Market .
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global Business Travel Market , thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

TOC for the Global Business Travel Market :

Chapter 1: Market Overview, Drivers, Restraints and Opportunities, Segmentation Overview
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%) and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise Manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Market Forecast
Chapter 13: Indoor Plant Research Findings and Conclusion, Appendix, methodology and data source

Complete Report Details with Facts and Figures along respective Images and Graphs (TOC) https://www.databridgemarketresearch.com/toc/?dbmr=global-business-travel-market&SR

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