$451.19 billion growth in travel market size with 41% contribution from APAC

NEW YORK, August 16, 2022 /PRNewswire/ — The “travel market “Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026” has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proud to partner with more of 100 Fortune 500 companies for more than The difference in potential travel market growth between 2021 and 2026 is $451.19 billion, according to Technavio’s latest market research report. The report also predicts that the market will witness an acceleration in growth at a CAGR of 13.86%. Technavio categorizes the global travel market as part of the global hotel, restaurant and leisure market. Our research report has extensively covered the external factors influencing the growth potential of the parent market in the coming years, which will determine the growth levels of the travel market during the forecast period. Our report provides detailed value chain analysis insights for travel market which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analytics segment can help vendors reduce costs and improve customer services over the forecast period.

, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026″ src=”https://s.yimg.com/ny/api/res/1.2/WHNdgFKIM4TcAuNYWgeiog–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM5Nw–/https://s.yimg.com/uu/api/res/1.2/a3tF6nDBL7Eu2ONUENJu1Q–~B/aD0yMjU7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/prnewswire.com/813de8f48e71dbd3f14f72af28bc4b21″ class=”caas-img”/>

Attractive Opportunities in Travel Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

For detailed information on scope and value chain analysis, Read sample report now!

Key Market Dynamics:

  • Market Driver: Technological advancements are likely to positively influence market growth. The travel market is driven by technologically advanced solutions that help travel agents and their customers access travel data, compare booking options, and book the most efficient, cost-effective, and most efficient option. comfortable. Additionally, advances in artificial intelligence (AI) have helped automate the travel booking process, eliminating the need to re-enter employee travel preferences and, therefore, saving time and Energy. Additionally, with the increasing digitization of payments, the travel market is reaping maximum benefit as travel bookings and payments have become easy for businesses.

  • Market Challenge: The spread of COVID-19 globally since the first quarter of 2020 has hampered the growth of the global travel market. The COVID-19 outbreak has become a global health emergency and has prompted companies operating around the world to halt international and domestic business travel to stop the spread of the disease. The pandemic has also led to an increase in health screening formalities at airports, with delays and tighter checks, making employee travel cumbersome.

Learn more about additional key market dynamics and their impact analysis. Request a sample now!

Segmentation Information

This travel market research report covers in detail market segmentation by industry (airline, hotel, travel business and others) and by geography (APAC, Europe, North America, South Americaand MEA).

Revenue Generating Information: Growth in travel market share by airline segment will be significant during the forecast period. With the improvement in the global economy, there has been a simultaneous growth of airline industries in many countries around the world. The increase in the influx of air travelers has led to increased revenues and associated taxes, which, in turn, have contributed to economic development. This development is expected to continue during the forecast period due to the introduction of package tours such as tour packages.

Regional contribution: 41% of market growth will come from APAC during the forecast period. China and Japan are the key markets for Asia-Pacific travel. Market growth in this region will be faster than market growth in other regions. Growth in the tourism industry will facilitate the growth of the travel market in the APAC region over the forecast period.

See our sample report for additional information on the contribution of all segments and regional opportunities

Some companies mentioned

Related reports:

travel insurance market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

India travel services market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Business travel market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

Metaverse market in the travel and tourism industry by Application and Geography – Forecast and Analysis 2022-2026

Travel Market Scope

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 13.86%

Market Growth 2022-2026

$451.19 billion

Market structure

Fragmented

Annual growth (%)

13.08

Regional analysis

APAC, Europe, North America, South America and MEA

Successful market contribution

APAC at 41%

Main consumer countries

China, USA, Germany, Japan and UK

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

American Automobile Association Inc., BCD Travel Services BV, Booking Holdings Inc., Corporate Travel Management Ltd., CWT Global BV, Expedia Group Inc., Fareportal Inc, Flight Center Travel Group Ltd., GBT Travel Services UK Limited and Travel Leaders Group LLC

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast growing and slow growing segments, impact of COVID 19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail:[email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

Quote

Quote

Show original content to download multimedia:https://www.prnewswire.com/news-releases/usd-451-19-billion-growth-in-travel-market-size-with-41-contribution-from-apac—17-000-technavio- reports-301604340.html

SOURCETechnavio