Global business travel market 2024-2028

Description

List of Tables

The business travel market is forecasted to grow by USD 3216.3 bn during 2023-2028, accelerating at a CAGR of 34.28% during the forecast period. The report on the business travel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing technological advances, digitalization of travel payments, and availability of business services in hotels.

Technavio's business travel market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	25.65%
CAGR	34.28%
Incremental Value	$3216.3bn

By Application

Marketing
Internal meeting
Trade show
Product launch

By Type

Travel fare
Lodging
Dining
Others

By Geographical Landscape

APAC
Europe
North America
South America
Middle East and Africa

This study identifies the growing preference of consumers to book through online travel agencies as one of the prime reasons driving the business travel market growth during the next few years. Also, personalization of guest data in hotels and growing demand for leisure travel will lead to sizable demand in the market.

The report on the business travel market covers the following areas:

Business travel market sizing
Business travel market forecast
Business travel market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading business travel market vendors that include ADTRAV Corp., Airbnb Inc., American Express Global Business Travel GBT, ATG Travel Worldwide BV, BCD Travel Services BV, Booking Holdings Inc., Christopherson Business Travel, CWT Global BV, Direct Travel Inc., Fareportal Inc., FCM Travel Solutions, Flight Centre Travel Group Ltd., JPMorgan Chase and Co., JTBUSA Inc., MakeMyTrip Ltd., Omega World Travel Inc., Travel Leaders Group Holdings LLC, UNIGLOBE Travel International Limited Partnership, Walmart Inc., and WexasA Ltd.. Also, the business travel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR44220

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
2.2 Market characteristics
- Market characteristics analysis
2.3 Value chain analysis
- Value Chain Analysis

3 Market Sizing

3.1 Market definition
- Offerings of companies included in the market definition
3.2 Market segment analysis
- Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Business Travel Market 2018 - 2022
- Historic Market Size - Data Table on Global Business Travel Market 2018 - 2022 ($ billion)
4.2 Application segment analysis 2018 - 2022
- Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.3 Type segment analysis 2018 - 2022
- Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
- Chart on Application - Market share 2023-2028 (%)
- Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
6.3 Marketing - Market size and forecast 2023-2028
- Chart on Marketing - Market size and forecast 2023-2028 ($ billion)
- Data Table on Marketing - Market size and forecast 2023-2028 ($ billion)
- Chart on Marketing - Year-over-year growth 2023-2028 (%)
- Data Table on Marketing - Year-over-year growth 2023-2028 (%)
6.4 Internal meeting - Market size and forecast 2023-2028
- Chart on Internal meeting - Market size and forecast 2023-2028 ($ billion)
- Data Table on Internal meeting - Market size and forecast 2023-2028 ($ billion)
- Chart on Internal meeting - Year-over-year growth 2023-2028 (%)
- Data Table on Internal meeting - Year-over-year growth 2023-2028 (%)
6.5 Trade show - Market size and forecast 2023-2028
- Chart on Trade show - Market size and forecast 2023-2028 ($ billion)
- Data Table on Trade show - Market size and forecast 2023-2028 ($ billion)
- Chart on Trade show - Year-over-year growth 2023-2028 (%)
- Data Table on Trade show - Year-over-year growth 2023-2028 (%)
6.6 Product launch - Market size and forecast 2023-2028
- Chart on Product launch - Market size and forecast 2023-2028 ($ billion)
- Data Table on Product launch - Market size and forecast 2023-2028 ($ billion)
- Chart on Product launch - Year-over-year growth 2023-2028 (%)
- Data Table on Product launch - Year-over-year growth 2023-2028 (%)
6.7 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Type

7.1 Market segments
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
7.3 Travel fare - Market size and forecast 2023-2028
- Chart on Travel fare - Market size and forecast 2023-2028 ($ billion)
- Data Table on Travel fare - Market size and forecast 2023-2028 ($ billion)
- Chart on Travel fare - Year-over-year growth 2023-2028 (%)
- Data Table on Travel fare - Year-over-year growth 2023-2028 (%)
7.4 Lodging - Market size and forecast 2023-2028
- Chart on Lodging - Market size and forecast 2023-2028 ($ billion)
- Data Table on Lodging - Market size and forecast 2023-2028 ($ billion)
- Chart on Lodging - Year-over-year growth 2023-2028 (%)
- Data Table on Lodging - Year-over-year growth 2023-2028 (%)
7.5 Dining - Market size and forecast 2023-2028
- Chart on Dining - Market size and forecast 2023-2028 ($ billion)
- Data Table on Dining - Market size and forecast 2023-2028 ($ billion)
- Chart on Dining - Year-over-year growth 2023-2028 (%)
- Data Table on Dining - Year-over-year growth 2023-2028 (%)
7.6 Others - Market size and forecast 2023-2028
- Chart on Others - Market size and forecast 2023-2028 ($ billion)
- Data Table on Others - Market size and forecast 2023-2028 ($ billion)
- Chart on Others - Year-over-year growth 2023-2028 (%)
- Data Table on Others - Year-over-year growth 2023-2028 (%)
7.7 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ billion)
- Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
9.9 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ billion)
- Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
9.10 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.11 Japan - Market size and forecast 2023-2028
- Chart on Japan - Market size and forecast 2023-2028 ($ billion)
- Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
- Chart on Japan - Year-over-year growth 2023-2028 (%)
- Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.12 UK - Market size and forecast 2023-2028
- Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Chart on UK - Year-over-year growth 2023-2028 (%)
- Data Table on UK - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ billion)
- Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Opportunity/Restraints

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
10.4 Market opportunities/restraints

11 Competitive Landscape

11.1 Overview
11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
11.3 Landscape disruption
- Overview on factors of disruption
11.4 Industry risks
- Impact of key risks on business

12 Competitive Analysis

12.1 Companies profiled
- Companies covered
12.2 Market positioning of companies
- Matrix on companies position and classification
12.3 ADTRAV Corp.
- ADTRAV Corp. - Overview
- ADTRAV Corp. - Product / Service
- ADTRAV Corp. - Key offerings
12.4 Airbnb Inc.
- Airbnb Inc. - Overview
- Airbnb Inc. - Product / Service
- Airbnb Inc. - Key offerings
12.5 American Express Global Business Travel GBT
- American Express Global Business Travel GBT - Overview
- American Express Global Business Travel GBT - Product / Service
- American Express Global Business Travel GBT - Key offerings
12.6 ATG Travel Worldwide BV
- ATG Travel Worldwide BV - Overview
- ATG Travel Worldwide BV - Product / Service
- ATG Travel Worldwide BV - Key offerings
12.7 BCD Travel Services BV
- BCD Travel Services BV - Overview
- BCD Travel Services BV - Product / Service
- BCD Travel Services BV - Key offerings
12.8 Booking Holdings Inc.
- Booking Holdings Inc. - Overview
- Booking Holdings Inc. - Product / Service
- Booking Holdings Inc. - Key offerings
12.9 Christopherson Business Travel
- Christopherson Business Travel - Overview
- Christopherson Business Travel - Product / Service
- Christopherson Business Travel - Key offerings
12.10 CWT Global BV
- CWT Global BV - Overview
- CWT Global BV - Product / Service
- CWT Global BV - Key offerings
12.11 Direct Travel Inc.
- Direct Travel Inc. - Overview
- Direct Travel Inc. - Product / Service
- Direct Travel Inc. - Key offerings
12.12 Fareportal Inc.
- Fareportal Inc. - Overview
- Fareportal Inc. - Product / Service
- Fareportal Inc. - Key offerings
12.13 Flight Centre Travel Group Ltd.
- Flight Centre Travel Group Ltd. - Overview
- Flight Centre Travel Group Ltd. - Product / Service
- Flight Centre Travel Group Ltd. - Key news
- Flight Centre Travel Group Ltd. - Key offerings
12.14 JPMorgan Chase and Co.
- JPMorgan Chase and Co. - Overview
- JPMorgan Chase and Co. - Business segments
- JPMorgan Chase and Co. - Key news
- JPMorgan Chase and Co. - Key offerings
- JPMorgan Chase and Co. - Segment focus
12.15 JTBUSA Inc.
- JTBUSA Inc. - Overview
- JTBUSA Inc. - Product / Service
- JTBUSA Inc. - Key offerings
12.16 MakeMyTrip Ltd.
- MakeMyTrip Ltd. - Overview
- MakeMyTrip Ltd. - Business segments
- MakeMyTrip Ltd. - Key offerings
- MakeMyTrip Ltd. - Segment focus
12.17 Travel Leaders Group Holdings LLC
- Travel Leaders Group Holdings LLC - Overview
- Travel Leaders Group Holdings LLC - Product / Service
- Travel Leaders Group Holdings LLC - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
13.3 Currency conversion rates for US$
- Currency conversion rates for US$
13.4 Research methodology
- Research methodology
13.5 Data procurement
- Information sources
13.6 Data validation
- Data validation
13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
13.8 Data synthesis
- Data synthesis
- 360 degree market analysis
- 360 degree market analysis
13.10 List of abbreviations
- List of abbreviations