Global Business Travel Market- Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026

Date : Jul 2020

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Report ID : 327

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Category : Consumer Goods

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Report Format:  PDF EXCEL PPT WORD

The global business travel market was valued at US$ 1,358.11 Bn in 2018 and is expected to reach US$ 2,034.20 Bn by 2026, expanding at a CAGR of 5.2% during the forecast period. The overall dynamics of business travel have been changing across the globe in sync with the new-age corporate traveler.

The business travel market accounted for 22.7% of the overall travel market in 2018 and is expected to increase in the coming years. The two-year period between 2017-2018 witnessed the strongest business travel after the impact of great in 2010 and 2011. Changing consumer behavior and technologies have altered how people communicate, socialize, and do business. In recent years, there has been a continuous flow of new technologies such as mobile payments, virtual reality, and artificial intelligence, which is boosting the overall market growth of business travel

                             Business Travel Market Segmentation

      By Business Traveler Type

  1. Veterans
  2. Passionate High Tech
  3. Road-Weary Travelers
  4. Others

          By Type

  1. Domestic
  2. International

         By Purpose

  1. Marketing & Sales
  2. Trade Shows
  3. Client Meetings
  4. Others

        By Composition

  1. Air Sales
  2. Car Rental Sales
  3. Lodging Sales
  4. Others

      By Distribution Channel

  1. Online Channel
  2. Offline Channel

          By End-use

  1. BPO
  2. Automobile
  3. Finance
  4. Energy
  5. IT
  6. Pharma
  7. Others

         By Region

  1. North America (US and Canada)
  2. Europe (UK, Germany, France and Rest of Europe)
  3. Asia Pacific (China, Japan, India and Rest of Asia Pacific)
  4. Latin America (Brazil, Mexico and Rest of Latin America)
  5. Middle East & Africa (GCC and Rest of Middle East & Africa)


Business organizations are adopting new travel tools that provide efficiency, savings, compliance, and travelers' safety. Travel booking tools are addressing the issues of multiple bookings from various vendors and reimbursements, among others, by adopting the technology. The adoption of mobile payments in business travel helps in ensuring efficiency by minimizing the amount of time employees spend on travel management. The majority of professionals have adopted single-use virtual cards or mobile wallet solutions for business trips.

Global Business Travel Market Size, 2016-2026, (US$ Mn)

Business Travel Market

Veterans segment held the largest business travel market share in the year 2018

Veterans held the largest market share in the year 2018 and this segment is expected to grow at a CAGR of 4.7% during the forecast period, as these travelers take more business trips compared to the other business traveler segments.

Approximately, 55% veteran travelers are aged between 35-54 years of age, while 33% are older than 55 years and 12% are younger than 35 years of age. With age, experience, and high status in an organization, veteran travelers are usually policy influencers between their organizations and business travel agents. Therefore, companies are focusing on their travel programs to satisfy veteran travelers. These customers prefer a streamlined process, online air travel bookings, and follow up bookings. 

By Purpose, Trade shows held the largest business travel market share in the year 2018

Trade shows held the largest market share in the year 2018, with North America and Europe accounting for one-fifth of the total planned events as trade shows. Expos and trade shows provide perfect opportunities for organizations to highlight their new products, technologies, and services. This also helps them to understand the new trends, developments and their competitors.

By attending trade shows, the business organizations get new suppliers, vendors, and customers to pitch their business offerings. Approximately, 77% of the executive decision makers get at least one supplier from the trade shows they attend, which is expected to accelerate the demand for business travel across the globe.

Asia Pacific is dominating the global Business Travel market

Asia Pacific is dominating the global business travel market and expected to hold a market share of 39.9% in 2026. In the business travel type, the domestic travel segment holds the highest share in this region. Increasing adoption of emerging technology-based businesses and favourable government policies are some of the major factors to drive the regional market. China held the highest share of 45.5% in the business travel market in the Asia Pacific in 2018 and expected to hold the pole position in the coming years.

Company Profiles and Competitive Intelligence

The key players operating in the global Business Travel market includes Expedia Group, Inc., Booking Holdings, Inc., American Express Global Business Travel, BCD Travel N.V., Carlson Wagonlit Travel, among others.

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Table of Content

Chapter 1 Preface

1.1 Report Description

1.1.1 Purpose of the Report

1.1.2 Target Audience

1.1.3 USP and Key Offerings

1.2 Research Scope

1.3 Research Methodology

1.3.1 Phase I – Secondary Research

1.3.2 Phase II – Primary Research

1.3.3 Phase III – Expert Panel Review

1.3.4 Approach Adopted

1.3.4.1 Top-Down Approach

1.3.4.2 Bottom-Up Approach

1.3.5 Assumptions

1.4 Market Segmentation Scope

Chapter 2 Executive Summary

2.1 Market Summary

2.1.1 Global Business Travel Market, 2016-2026, (US$ Mn)

2.1 Market Snapshot: Global Business Travel Market

2.2 Market Dynamics

2.3 Global Business Travel Market, by Segment, 2018

2.3.1 Global Business Travel Market, by Business Traveler Type, 2018, (US$ Mn)

2.3.2 Global Business Travel Market, by Type, 2018,(US$ Mn)

2.3.3 Global Business Travel Market, by Purpose, 2018 (US$ Mn)

2.3.4 Global Business Travel Market, by Composition, 2018 (US$ Mn)

2.3.5 Global Business Travel Market, by Distribution Channel, 2018 (US$ Mn)

2.3.6 Global Business Travel Market, by End-use, 2018 (US$ Mn)

2.3.7 Global Business Travel Market, by Region, 2018 (US$ Mn)

2.4 Premium Insights

2.4.1 Business Travel Market In Developed Vs. Developing Economies, 2018 vs 2026

2.4.2 Global Business Travel Market: Regional Life Cycle Analysis

2.4.3 Leading Countries in Business Travel Spending from 2012 to 2017

2.4.4 Global Business Travel Market: Key Trend Analysis

Chapter 3 Market Dynamics

3.1 Market Overview

3.2 Market Drivers

3.2.1 Increasing Virtual & Mobile Payment Solution

3.2.1 Rise of Shared Economy Services

3.2.2 Rise of Startups & SMEs

3.3 Market Restraints

3.3.1 Data Security

3.3.2 Traveler Safety

3.4 Market Opportunities

3.4.1 Adoption Of Artificial Intelligence

3.4.2 Emerging Business Travel Hubs

3.4.3 Introduction Of Analytics In The Travel Industry

3.5 Industry Value Chain Analysis

3.5.1 Analyst’s Views

3.6 New Technologies Impacting the Market

3.7 Industry SWOT Analysis

Chapter 4 Global Business Travel Market, by Business Traveler Type

4.1 Market Overview, by Business Traveler Type

4.1.1 Global Business Travel Market, by Business Traveler Type, 2016-2026 (US$ Mn)

4.1.2 Incremental Opportunity, by Business Traveler Type, From 2018-2026

4.2 Veterans

4.2.1 Global Business Travel Market, by Veterans , 2016-2026, (US$ Mn)

4.3 Passionate High Tech

4.3.1 Global Business Travel Market, by Passionate High Tech, 2016-2026, (US$ Mn)

4.4 Road-Weary Travelers

4.4.1 Global Business Travel Market, by Road-Weary Travelers, 2016-2026, (US$ Mn)

4.5 Others

4.5.1 Global Business Travel Market, by Others, 2016-2026, (US$ Mn)

Chapter 5 Global Business Travel Market, by Type

5.1 Market Overview, by Type

5.1.1 Global Business Travel Market, by Type , 2016-2026 (US$ Mn)

5.1.2 Incremental Opportunity, by Type , From 2018-2026

5.2 Domestic

5.2.1 Global Business Travel Market, by Domestic, 2016-2026, (US$ Mn)

5.3 International

5.3.1 Global Business Travel Market, by International, 2016-2026, (US$ Mn)

Chapter 6 Global Business Travel Market, by Purpose

6.1 Market Overview, by Purpose

6.1.1 Global Business Travel Market, by Purpose, 2016-2026 (US$ Mn)

6.1.2 Incremental Opportunity, by Purpose, From 2018-2026

6.2 Marketing & Sales

6.2.1 Global Business Travel Market, by Marketing & Sales, 2016-2026, (US$ Mn)

6.3 Trade Shows

6.3.1 Global Business Travel Market, by Trade Shows, 2016-2026, (US$ Mn)

6.4 Client Meetings

6.4.1 Global Business Travel Market, by Client Meetings, 2016-2026, (US$ Mn)

6.5 Others

6.5.1 Global Business Travel Market, by Others, 2016-2026, (US$ Mn)

Chapter 7 Global Business Travel Market, by Composition

7.1 Market Overview, by Composition

7.1.1 Global Business Travel Market, by Composition, 2016-2026 (US$ Mn)

7.1.2 Incremental Opportunity, by Composition, From 2018-2026

7.2 Air Sales

7.2.1 Global Business Travel Market, by Air Sales, 2016-2026, (US$ Mn)

7.3 Car Rental Sales

7.3.1 Global Business Travel Market, by Car Rental Sales, 2016-2026, (US$ Mn)

7.4 Lodging Sales

7.4.1 Global Business Travel Market, by Lodging Sales, 2016-2026, (US$ Mn)

7.5 Others

7.5.1 Global Business Travel Market, by Others, 2016-2026, (US$ Mn)

Chapter 8 Global Business Travel Market, by Distribution Channel

8.1 Market Overview, by Distribution Channel

8.1.1 Global Business Travel Market, by Distribution Channel, 2016-2026 (US$ Mn)

8.1.2 Incremental Opportunity, by Distribution Channel, From 2018-2026

8.2 Online Channel

8.2.1 Global Business Travel Market, by Online Channel, 2016-2026, (US$ Mn)

8.3 Offline Channel

8.3.1 Global Business Travel Market, by Offline Channel, 2016-2026, (US$ Mn)

Chapter 9 Global Business Travel Market, by End-use

9.1 Market Overview, by End-use

9.1.1 Global Business Travel Market, by End-use, 2016-2026 (US$ Mn)

9.1.2 Incremental Opportunity, by End-use, From 2018-2026

9.2 BPO

9.2.1 Global Business Travel Market, by BPO, 2016-2026, (US$ Mn)

9.3 Automobile

9.3.1 Global Business Travel Market, by Automobile, 2016-2026, (US$ Mn)

9.4 Finance

9.4.1 Global Business Travel Market, by Finance, 2016-2026, (US$ Mn)

9.5 Energy

9.5.1 Global Business Travel Market, by Energy, 2016-2026, (US$ Mn)

9.6 IT

9.6.1 Global Business Travel Market, by IT, 2016-2026, (US$ Mn)

9.7 Pharma

9.7.1 Global Business Travel Market, by Pharma, 2016-2026, (US$ Mn)

9.8 Others

9.8.1 Global Business Travel Market, by Others, 2016-2026, (US$ Mn)

Chapter 10 Global Business Travel Market, by Region

10.1 Market Overview, by Region

10.1.1 Global Business Travel Market, by Region, 2016-2026, (US$ Mn)

10.2 Attractive Investment Opportunity, by Region, 2018

10.3 North America Business Travel Market

10.3.1 North America Business Travel Market, by Business Traveler Type, 2016-2026 (US$ Mn)

10.3.2 North America Business Travel Market, by Type , 2016-2026 (US$ Mn)

10.3.3 North America Business Travel Market, by Purpose, 2016-2026 (US$ Mn)

10.3.1 North America Business Travel Market, by Composition, 2016-2026 (US$ Mn)

10.3.2 North America Business Travel Market, by Distribution Channel, 2016-2026 (US$ Mn)

10.3.3 North America Business Travel Market, by End-use, 2016-2026 (US$ Mn)

10.3.4 United States Country Profile

10.3.4.1 United States Business Travel Market, 2016-2026 (US$ Mn)

10.3.5 Canada Country Profile

10.3.5.1 Canada Business Travel Market, 2016-2026 (US$ Mn)

10.4 Europe Business Travel Market

10.4.1 Europe Business Travel Market, by Business Traveler Type, 2016-2026 (US$ Mn)

10.4.2 Europe Business Travel Market, by Type , 2016-2026 (US$ Mn)

10.4.3 Europe Business Travel Market, by Purpose, 2016-2026 (US$ Mn)

10.4.4 Europe Business Travel Market, by Composition, 2016-2026 (US$ Mn)

10.4.5 Europe Business Travel Market, by Distribution Channel, 2016-2026 (US$ Mn)

10.4.6 Europe Business Travel Market, by End-use, 2016-2026 (US$ Mn)

10.4.7 United Kingdom Country Profile

10.4.7.1 United Kingdom Business Travel Market, 2016-2026 (US$ Mn)

10.4.8 Germany Country Profile

10.4.8.1 Germany Business Travel Market, 2016-2026 (US$ Mn)

10.4.9 France Country Profile

10.4.9.1 France Business Travel Market, 2016-2026 (US$ Mn)

10.4.10 Rest of Europe

10.4.10.1 Rest of Europe Business Travel Market, 2016-2026 (US$ Mn)

10.5 Asia Pacific Business Travel Market

10.5.1 Asia Pacific Business Travel Market, by Business Traveler Type, 2016-2026 (US$ Mn)

10.5.2 Asia Pacific Business Travel Market, by Type , 2016-2026 (US$ Mn)

10.5.3 Asia Pacific Business Travel Market, by Purpose, 2016-2026 (US$ Mn)

10.5.4 Asia Pacific Business Travel Market, by Composition, 2016-2026 (US$ Mn)

10.5.5 Asia Pacific Business Travel Market, by Distribution Channel, 2016-2026 (US$ Mn)

10.5.6 Asia Pacific Business Travel Market, by End-use, 2016-2026 (US$ Mn)

10.5.7 China Country Profile

10.5.7.1 China Business Travel Market, 2016-2026 (US$ Mn)

10.5.8 Japan Country Profile

10.5.8.1 Japan Business Travel Market, 2016-2026 (US$ Mn)

10.5.9 India Country Profile

10.5.9.1 India Business Travel Market, 2016-2026 (US$ Mn)

10.5.10 Rest of Asia Pacific

10.5.10.1 Rest of Asia Pacific Business Travel Market, 2016-2026 (US$ Mn)

10.6 Latin America Business Travel Market

10.6.1 Latin America Business Travel Market, by Business Traveler Type, 2016-2026 (US$ Mn)

10.6.2 Latin America Business Travel Market, by Type , 2016-2026 (US$ Mn)

10.6.3 Latin America Business Travel Market, by Purpose, 2016-2026 (US$ Mn)

10.6.4 Latin America Business Travel Market, by Composition, 2016-2026 (US$ Mn)

10.6.5 Latin America Business Travel Market, by Distribution Channel, 2016-2026 (US$ Mn)

10.6.6 Latin America Business Travel Market, by End-use, 2016-2026 (US$ Mn)

10.6.7 Brazil Country Profile

10.6.7.1 Brazil Business Travel Market, 2016-2026 (US$ Mn)

10.6.8 Mexico Country Profile

10.6.8.1 Mexico Business Travel Market, 2016-2026 (US$ Mn)

10.6.9 Rest of Latin America

10.6.9.1 Rest of Latin America Business Travel Market, 2016-2026 (US$ Mn)

10.7 Middle East & Africa Business Travel  Market

10.7.1 Middle East & Africa Business Travel Market, by Business Traveler Type, 2016-2026 (US$ Mn)

10.7.2 Middle East & Africa Business Travel Market, by Type , 2016-2026 (US$ Mn)

10.7.3 Middle East & Africa Business Travel Market, by Purpose, 2016-2026 (US$ Mn)

10.7.4 Middle East & Africa Business Travel Market, by Composition, 2016-2026 (US$ Mn)

10.7.5 Middle East & Africa Business Travel Market, by Distribution Channel, 2016-2026 (US$ Mn)

10.7.6 Middle East & Africa Business Travel Market, by End-use, 2016-2026 (US$ Mn)

10.7.7 GCC

10.7.7.1 GCC Business Travel Market, 2016-2026 (US$ Mn)

10.7.8 Rest of Middle East & Africa

10.7.8.1 Rest of Middle East & Africa Business Travel Market, 2016-2026 (US$ Mn)

Chapter 11 Competitive Intelligence

11.1 Market Players Present in Market Life Cycle

11.2 Top 5 Players Comparison

11.3 Market Positioning of Key Players, 2018

11.4 Market Players Mapping

11.4.1 By Business Traveler Type

11.4.2 By Types

11.4.3 By Purpose

11.4.1 By Composition

11.4.2 By Distribution Channel

11.4.3 By End-use

11.4.4 By Region

11.5 Strategies Adopted by Key Market Players

11.6 Recent Developments in the Market

11.6.1 Mergers & Acquisitions, Partnership, New Product Developments

11.7 Operational Efficiency Comparison by Key Players

Chapter 12 Company Profiles

12.1 Carlson Wagonlit Travel (CWT)

12.1.1 Carlson Wagonlit Travel (CWT)  Overview

12.1.2 Key Stakeholders/Person in Carlson Wagonlit Travel (CWT)

12.1.3 Carlson Wagonlit Travel (CWT) Products Portfolio

12.1.4 Carlson Wagonlit Travel (CWT)  Financial Overview

12.1.5 Carlson Wagonlit Travel (CWT)  News/Recent Developments

12.2 American Express Global Business Travel

12.2.1 American Express Global Business Travel Overview

12.2.2 Key Stakeholders/Person in American Express Global Business Travel

12.2.3 American Express Global Business Travel Products Portfolio

12.2.4 American Express Global Business Travel Financial Overview

12.2.5 American Express Global Business Travel News/Recent Developments

12.3 Expedia Group, Inc.

12.3.1 Expedia Group, Inc. Overview

12.3.2 Key Stakeholders/Person in Expedia Group, Inc.

12.3.3 Expedia Group, Inc. Products Portfolio

12.3.4 Expedia Group, Inc. Financial Overview

12.3.5 Expedia Group, Inc. News/Recent Developments

12.4 Booking Holdings, Inc.

12.4.1 Booking Holdings, Inc.  Overview

12.4.2 Key Stakeholders/Person in Booking Holdings, Inc.

12.4.3 Booking Holdings, Inc.  Products Portfolio

12.4.4 Booking Holdings, Inc.  Financial Overview

12.4.5 Booking Holdings, Inc.  News/Recent Developments

12.5 BCD Travel N.V.

12.5.1 BCD Travel N.V. Overview

12.5.2 Key Stakeholders/Person in BCD Travel N.V.

12.5.3 BCD Travel N.V. Products Portfolio

12.5.4 BCD Travel N.V. Financial Overview

12.5.5 BCD Travel N.V. News/Recent Developments

12.6 FCM Travel Solutions

12.6.1 FCM Travel Solutions Overview

12.6.2 Key Stakeholders/Person in FCM Travel Solutions

12.6.3 FCM Travel Solutions Products Portfolio

12.6.4 FCM Travel Solutions Financial Overview

12.6.5 FCM Travel Solutions News/Recent Developments

12.7 TripActions Inc.

12.7.1 TripActions Inc. Overview

12.7.2 Key Stakeholders/Person in TripActions Inc.

12.7.3 TripActions Inc. Products Portfolio

12.7.4 TripActions Inc. Financial Overview

12.7.5 TripActions Inc. News/Recent Developments

12.8 Travel Leaders Group

12.8.1 Travel Leaders Group Overview

12.8.2 Key Stakeholders/Person in Travel Leaders Group

12.8.3 Travel Leaders Group Products Portfolio

12.8.4 Travel Leaders Group Financial Overview

12.8.5 Travel Leaders Group News/Recent Developments

12.9 Company 9

12.9.1 Company 9 Overview

12.9.2 Key Stakeholders/Person in Company 9

12.9.3 Company 9 Products Portfolio

12.9.4 Company 9 Financial Overview

12.9.5 Company 9 News/Recent Developments

12.10 Company 10

12.10.1 Company 10 Overview

12.10.2 Key Stakeholders/Person in Company 10

12.10.3 Company 10 Products Portfolio

12.10.4 Company 10 Financial Overview

12.10.5 Company 10 News/Recent Developments


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