Global Business Travel Market (2022 to 2027) – With American Express, BCD Travel and Expedia, among others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Business Travel Market (2022-2027) by Type, Purpose Type, Expenditure, Service Type, Industry, Geography, Competitive Analysis and Covid-19 Impact with Ansoff Analysis” report has been added to from ResearchAndMarkets.com offer.

The global business travel market is estimated to be worth USD 706.14 billion in 2022 and is projected to reach USD 1324.21 billion by 2027, growing at a CAGR of 13.4%.

Market dynamics are forces that impact pricing and stakeholder behaviors in the global business travel market. These forces create price signals that result from changes in the supply and demand curves for a given product or service. The forces of market dynamics can be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand and supply. Human emotions can also drive decisions, influence the market and create price signals.

As market dynamics impact supply and demand curves, policymakers aim to determine how best to use various financial tools to stem various strategies aimed at accelerating growth and reducing risk.

Competitive quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Ansoff analysis

The report presents a detailed analysis of the Ansoff matrix for the global business travel market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design business growth strategies. The matrix can be used to assess approaches in four strategies viz. Market development, market penetration, product development and diversification. The matrix is ​​also used for risk analysis to understand the risk associated with each approach.

The report analyzes the global business travel market using the Ansoff Matrix to provide the best approaches a company can take to improve its position in the market.

Based on the SWOT analysis done on the industry and industry players, the analyst has designed appropriate strategies for market growth.

Why buy this report?

  • The report offers a comprehensive assessment of the global business travel market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. Projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The main research is done through interviews, surveys and observations of renowned personnel in the industry.

  • The report includes in-depth market analysis using Porter’s 5 forces model and Ansoff’s matrix. Additionally, the impact of Covid-19 on the market is also presented in the report.

  • The report also includes the regulatory scenario in the industry, which will help you to make an informed decision. The report discusses the major regulatory bodies and major rules and regulations imposed on this industry across various geographies.

  • The report also contains competitive analysis using Positioning Quadrants, the analyst’s proprietary competitive positioning tool.

Market dynamics

Drivers

  • Increasing globalization

  • Rapid growth of SMEs

  • Increased investment in infrastructure by regional governments

  • Tourism industry development

Constraints

  • Widespread adoption of technologies such as video conferencing

Opportunities

  • Growing trend of leisure travel

  • Large-scale developments in the travel and tourism sector

Challenges

  • Channel leak, privacy and security issue

Market segmentation

The global business travel market is segmented on the basis of type, purpose type, expenditure, service type, industry and geography.

  • By type, the market is categorized into managed business travel and unmanaged business travel.

  • By type of purpose, the market is categorized into marketing, internal meetings, trade shows/conferences, and product launch.

  • By expenditure, the market is categorized into travel fares, accommodation and catering.

  • By type of service, the market is categorized into transportation, catering & accommodation, and leisure.

  • By industry, the market is categorized into government and enterprise.

  • By geography, the market is categorized into Americas, Europe, Middle East & Africa, and Asia-Pacific.

Companies cited

  • Airbnb

  • American Express

  • BCD trip

  • Reserve credits

  • Cain Tourist attractions

  • Carlson Wagonlit Tourist attractions

  • speak travel management

  • travel

  • Expedia

  • Reportage

  • FCM Travel Solutions

  • Flight center trip

  • House of international travel

  • makemytrip

  • Price line

  • celestial wings

  • Travel Leaders

  • Wexa Tourist attractions

For more information on this report, visit https://www.researchandmarkets.com/r/v3u05e