COVID-19 Impact & Recovery Analysis- Global Business Travel Market 2020-2024 | Growing Technological Advances to Boost Growth | Technavio

·5-min read

Technavio has been monitoring the global business travel market size and it is poised to grow by USD 268.83 billion during 2020-2024, progressing at a CAGR of 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Business Travel Market 2020-2024 (Graphic: Business Wire)

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ADTRAV Corp., Airbnb Inc., BCD Group, Booking Holdings Inc., CWT Global BV, Egencia LLC, FROSCH International Travel Inc., GBT Travel Services UK Limited d/b/a/ American Express Global Business Travel, Ovation Travel Group, and Travel Leaders Group LLC are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The growing technological advances have been instrumental in driving the growth of the market. However, ill-managed travel plans might hamper market growth.

Business Travel Market 2020-2024 : Segmentation

Business Travel Market is segmented as below:

  • Expenditure

    • Travel Fare

    • Lodging

    • Dining

    • Other Expenditure

  • Age

    • Above 40

    • Below 40

  • Application

    • Marketing

    • Internal Meeting

    • Trade Show

    • Product Launch

  • Geography

    • APAC

    • Europe

    • North America

    • South America

    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44220

Business Travel Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our business travel market report covers the following areas:

  • Business Travel Market size

  • Business Travel Market trends

  • Business Travel Market industry analysis

This study identifies the digitalization of travel payments as one of the prime reasons driving the business travel market growth during the next few years.

Business Travel Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the business travel market, including some of the vendors such as ADTRAV Corp., Airbnb Inc., BCD Group, Booking Holdings Inc., CWT Global BV, Egencia LLC, FROSCH International Travel Inc., GBT Travel Services UK Limited d/b/a/ American Express Global Business Travel, Ovation Travel Group, and Travel Leaders Group LLC Backed with competitive intelligence and benchmarking, our research reports on the business travel market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Business Travel Market 2020-2024 : Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist business travel market growth during the next five years

  • Estimation of the business travel market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the business travel market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of business travel market vendors

Table Of Contents :

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Application

  • Market segments

  • Comparison by Application

  • Marketing - Market size and forecast 2019-2024

  • Internal meeting - Market size and forecast 2019-2024

  • Trade show - Market size and forecast 2019-2024

  • Product launch - Market size and forecast 2019-2024

  • Market opportunity by Application

Market Segmentation by Expenditure

  • Market segments

  • Comparison by Expenditure

  • Travel fare - Market size and forecast 2019-2024

  • Lodging - Market size and forecast 2019-2024

  • Dining - Market size and forecast 2019-2024

  • Other expenditure - Market size and forecast 2019-2024

  • Market opportunity by Expenditure

Market Segmentation by Age

  • Market segments

  • Comparison by Age

  • Above 40 years - Market size and forecast 2019-2024

  • Below 40 years - Market size and forecast 2019-2024

  • Market opportunity by Age

Customer Landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendor landscape

  • Landscape disruption

  • Competitive scenario

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • ADTRAV Corp.

  • Airbnb Inc.

  • BCD Group

  • Booking Holdings Inc.

  • CWT Global BV

  • Egencia LLC

  • FROSCH International Travel Inc.

  • GBT Travel Services UK Limited d/b/a/ American Express Global Business Travel

  • Ovation Travel Group

  • Travel Leaders Group LLC

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200707005760/en/

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