Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Business Travel - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Business Travel estimated at US$690.6 Billion in the year 2023, is projected to reach a revised size of US$928.4 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030.
Business Travel Food & Lodging, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$509.8 Billion by the end of the analysis period. Growth in the Recreation segment is estimated at 3.4% CAGR for the next 8-year period.
The Business Travel market in the U.S. is estimated at US$246.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$59.2 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
Study Coverage
The analysis provides a comprehensive examination of the global business travel market, detailing annual sales figures in US$ million from 2014 to 2030. It encompasses various geographic regions including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The study offers insights into recent past, current, and future trends, accompanied by percentage compound annual growth rates (CAGR) for each region.
Additionally, historical reviews and a 16-year perspective are presented, featuring a breakdown of value sales percentages for select years within this timeframe. The analysis extends to different segments of business travel such as food & lodging, recreation, transportation, group travel, solo travel, corporate travel, and government travel, providing a holistic understanding of the market landscape and its dynamics.
Report Features
- Full access to influencer engagement stats
- Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
- Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
- Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
- Complimentary report updates for one year
- Competitor coverage with global market shares of major players
- Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
- Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes
Select Competitors (Total 70 Featured)
- Amadeus IT Group SA
- Akcine bendrove Lietuvos pastas
- ATITECH S.p.A.
- 1byone, Inc.
- ASCO Group Limited
- Airbnb Inc.
- Amber Gold Sp. z o.o.
- Affinity Group Limited
- Amira Enterprises Inc.
- Aurora Media Worldwide UK Ltd.
- APT Asia Pacific
- A.bergs DataSystem AB
- Ad Magic, Inc.
- Apricot Technologies Limited
- Aqualogy Services Company, SA
Key Attributes
| Report Attribute | Details |
| No. of Pages | 464 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $690.6 Billion |
| Forecasted Market Value (USD) by 2030 | $928.4 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Business Travel Evolves into Multi-Faceted Endeavor
- Global Market Prospects & Outlook
- Major Purposes of Business Trips
- Competition
- Startups Disrupt the Business Travel Market
- World Brands
- Recent Market Activity
- Business Travel - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Trends in Travel & Tourism: An Indication of Dynamics in Business Travel Market
- Mixing Recreation with Business: The New Mantra in Business Travel
- Bleisure as % of Total Business Trips by Select Countries
- Average Number of Bleisure Trips Per Year by Select Countries
- Original Purpose of Bleisure Travel: % of Trips Converted to Bleisure Trips by Purpose of Original Trip
- Industries with Most Bleisure Travelers: % of Bleisure Travelers by Industry
- Major Reasons for Choosing a Bleisure Destination: % of Bleisure Travelers Citing a Factor as a Reason for Preferring a Destination among US Bleisure Travelers
- Event Planning Industry's Transition towards Virtual Platforms and Implications for Business Travels
- Trade Volumes and Trade Wars Closely Correlated to Spending on Business Travel
- Notable Trends in the Business Travel Industry
- New Services Emerge as Competitors to Travel Management Companies
- Using Business Travel to Enhance Employee Satisfaction
- Bleisure Emerges as a Popular Business Travel Trend
- Focus on Enhancing Customer Service
- Rising Importance of Personalized Travel
- Sustainability Emerges as a Notable Trend in Business Travel
- Technological Advancements Augur Well for the Market
- Rising Importance of Artificial and Machine Learning in Business Travel
- Mobile Devices Become Integral to Business Travel Industry
- Smartphone Penetration Rate as Share of Total Population: 2016-2023
- Growth of SMEs Bodes Well for the Business Travel Industry
- Airport Retailers Target Business Travelers
- Global Airport Retail Market Size (in US$ Billion) for 2019, 2022 & 2024
- Digitalization of Travel Payments & Guest Data Supports Business Travel Market
- Challenges Facing Business Travel Market
- Data Breaches and Fraud Impact Business Travel
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/c1kyev
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