Business Travel Market to Surge USD 2.62 Billion, with Excellent CAGR of 6.73% by 2030

Expert solutions, combined with potential capabilities, elevate the  Business Travel Market report for businesses. This study caters to diverse markets in line with client requirements, extracting the best possible solutions and detailed information about market trends. The report holds immense importance in defining the market, classifications, applications, and engagements. Key data and information used in preparing this report are sourced from reliable outlets such as journals, websites, research papers, case studies, and magazines. The universal Business Travel Market business report offers comprehensive market insights and analysis, providing a broader perspective on the market.

Explore Further Details about This Research Business Travel Market Report

https://www.databridgemarketresearch.com/reports/global-business-travel-market

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 global business travel market which was USD 1.56 billion in 2022, would rocket up to USD 2.62 billion by 2030, and is expected to undergo a CAGR of 6.73% during the forecast period of 2023 to 2030. "Food & lodging segment" dominates the service segment of the global business travel market part owing to growing penetration of hotel booking agents such as Airbnb and Oravel Stays, are fostering the growth of the food and lodging segment. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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.

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.)

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 travellers 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

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

Service

Food and Lodging
Recreation Activity

Industry

Government
Corporate

Reasons for Buying this  Business Travel Market Report

This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of  Business Travel Market and by making in-depth analysis of market segments.

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