Business Travel Market Major Driving Factors and Business Growth Strategies 2029



Published April 24, 2023

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.

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Global Business Travel Market Segment Breakdown:                                                                              

  • By Service (Quality Assurance, Regulatory Affairs Services, Product Design and Development Services, Product Testing & Sterilization Services, Product Implementation Services, Product Upgrade Services, Product Maintenance Services, Contract Manufacturing)
  • By Product (Finished Goods, Electronics, Raw Materials), Device Type (Class I Devices, Class II Devices, Class III Devices)

Competition Analysis:

Some of Key Competitors or Companies Included In the Study Are

  • Airbnb, Inc. (US)
  • American Express Company (US)
  • BCD Group (Netherland)
  • Booking Holdings (US)
  • CWT Solutions (US)
  • Corporate Travel Management (Australia)
  • Expedia, Inc. (US)
  • Fareportal (US)
  • Flight Centre Travel Group Limited (formerly Flight Centre 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)

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This Business Travel Market Research document takes into consideration several industry verticals such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. It consists of most-detailed market segmentation, systematic analysis of major market players, trends in consumer and supply chain dynamics, and insights about new geographical markets. The market insights and analysis provided in this market research document are based upon SWOT analysis on which businesses can trust confidently. This Business Travel report is produced by chewing over several fragments of the present and upcoming market scenario.

Market Drivers

  • Rising aging population will drive the market growth
  • Increasing cases of different health disorders also accelerates the growth of this market
  • Increasing compliance with quality standards acts as a market driver
  • Growing product marketing will also propel the market growth

Market Restraints

  • Rising data security concern will restrain the market growth
  • Unfavorable reimbursement policies will also hamper the market

To comprehend Business Travel Market dynamics in the world mainly, the worldwide Business Travel market is analyzed across major global regions.

  • North America: United States, Canada, and Mexico.
  • South & Central America: Argentina, Chile, and Brazil.
  • Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.
  • Europe: UK, France, Italy, Germany, Spain, and Russia.
  • Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia.

Global Business Travel Market Report Focus:

  • Extensive product offerings
  • Customer research services
  • Robust research methodology
  • Comprehensive reports
  • Latest technological developments
  • Value chain analysis
  • Potential Business Travel Market opportunities
  • Growth dynamics
  • Quality assurance
  • Post-sales support
  • Regular report updates
  • On what parameters study is being formulated?

– Analysis Tool: The Global Business Travel Market Report contains accurate analysis and evaluation data for key industry players and market coverage using a number of analytical tools like data triangulation and iterative data estimation.

-Key Strategic Developments: This Business Travel study includes product/service developments of market, including R & D, new launches, M & A, JV & partnerships along with regional growth of leading giants in the market.

-Key Market Features: The study also provides a comprehensive study of key market dynamics and current trends, along with relevant market sectors and sub-sectors.

The Global Business Travel study includes data from 2015 to 2027 useful for industry executives, marketing, sales and product managers, analysts, and anyone looking for market data in easily accessible document.

Table of Content:

Market Overview: The report begins with this section where product overview and highlights of product and application segments of the global Business Travel Market are provided. Highlights of the segmentation study include price, revenue, sales, sales growth rate, and market share by product.

Competition by Company: Here, the competition in the Worldwide Business Travel Market is analyzed, By price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.

Company Profiles and Sales Data: As the name suggests, this section gives the sales data of key players of the global Business Travel Market as well as some useful information on their business. It talks about the gross margin, price, revenue, products, and their specifications, type, applications, competitors, manufacturing base, and the main business of key players operating in the global Business Travel Market.

Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the global Business Travel Market is deeply analyzed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.

Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Business Travel Market.

Market Forecast: Here, the report offers a complete forecast of the global Business Travel Market by product, application, and region. It also offers global sales and revenue forecast for all years of the forecast period.

Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.

Customization Service of the Report:       

Data Bridge Market Research provides customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team ([email protected]), who will guarantee you to get a report that suits your necessities.

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