Global Business Travel Market: Size, Trends and Forecast (2019-2023)
SCOPE OF THE REPORT
The report entitled “Global Business Travel Market: Size, Trends and Forecast (2019-2023)” provides an in-depth analysis of the business travel market including detailed description of market sizing and growth. The report provides an analysis of the global business travel market by value and also includes regional analysis of the business travel market for the following regions: China, the US, Germany, Japan, United Kingdom, France, South Korea, India, Italy, Canada, Brazil, Australia, Spain, Netherlands, Russia and ROW (Rest of the world).
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global business travel market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the business travel market are Carlson Holdings, Inc. (Carlson Wagonlit Travel), American Express Company (American Express Global Business Travel), Expedia Group, Inc. and BCD Group (BCD Travel). The four companies have been profiled in the report providing their business overview, financial overview and business strategies.
Country Coverage
China, US, Germany, UK, South Korea, India, Canada, Australia, Netherlands, Japan, France, Italy, Brazil, Spain, Russia, ROW
Company Coverage
Business travel is undertaken by people for the growth and development of their businesses and includes various activities such as transportation, accommodation, business work, etc. Business travel also enables a company in expanding their global presence through networking.
With the growth of business travel, the need for providing managed travel services is also growing rapidly. Many companies form their own corporate travel policies in order to meet the traveling requirements of their employees. Companies can manage their business travel requirements by utilizing the business travel programs or services offered by various travel management companies or by providing the facilities of online or self-booking tools to their employees.
Business travel has been segmented on the basis of type, purpose, service, traveler and industry. The major types of business travel include managed and unmanaged business travel. On the basis of purpose, business travel has been divided into marketing, trade shows, client meetings and others. On the basis of services, business travel has been segmented into transportation, food and lodging and recreation. The two main industries which require business travel are government and the corporate industry. On the basis of traveler, business travel has been segregated into solo and group travelers.
The global business travel market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as increasing internet penetration, growth in internet of things (IoT), increasing involvement of artificial intelligence, globalization etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are data breaches and use of videoconferencing by small and medium enterprises (SMEs).
The report entitled “Global Business Travel Market: Size, Trends and Forecast (2019-2023)” provides an in-depth analysis of the business travel market including detailed description of market sizing and growth. The report provides an analysis of the global business travel market by value and also includes regional analysis of the business travel market for the following regions: China, the US, Germany, Japan, United Kingdom, France, South Korea, India, Italy, Canada, Brazil, Australia, Spain, Netherlands, Russia and ROW (Rest of the world).
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global business travel market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the business travel market are Carlson Holdings, Inc. (Carlson Wagonlit Travel), American Express Company (American Express Global Business Travel), Expedia Group, Inc. and BCD Group (BCD Travel). The four companies have been profiled in the report providing their business overview, financial overview and business strategies.
Country Coverage
China, US, Germany, UK, South Korea, India, Canada, Australia, Netherlands, Japan, France, Italy, Brazil, Spain, Russia, ROW
Company Coverage
- Carlson Holdings, Inc. (Carlson Wagonlit Travel)
- American Express Company (American Express Global Business Travel)
- Expedia Group, Inc.
- BCD Group (BCD Travel)
Business travel is undertaken by people for the growth and development of their businesses and includes various activities such as transportation, accommodation, business work, etc. Business travel also enables a company in expanding their global presence through networking.
With the growth of business travel, the need for providing managed travel services is also growing rapidly. Many companies form their own corporate travel policies in order to meet the traveling requirements of their employees. Companies can manage their business travel requirements by utilizing the business travel programs or services offered by various travel management companies or by providing the facilities of online or self-booking tools to their employees.
Business travel has been segmented on the basis of type, purpose, service, traveler and industry. The major types of business travel include managed and unmanaged business travel. On the basis of purpose, business travel has been divided into marketing, trade shows, client meetings and others. On the basis of services, business travel has been segmented into transportation, food and lodging and recreation. The two main industries which require business travel are government and the corporate industry. On the basis of traveler, business travel has been segregated into solo and group travelers.
The global business travel market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as increasing internet penetration, growth in internet of things (IoT), increasing involvement of artificial intelligence, globalization etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are data breaches and use of videoconferencing by small and medium enterprises (SMEs).
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 Business Travel: An Overview
2.1.1 Business Travel Types
2.2 Business Travel Segmentation: An Overview
2.2.1 Business Travel Segmentation by Type and Purpose
2.2.2 Business Travel Segmentation by Service, Traveler and Industry
2.3 Business Travel Management: An Overview
3. GLOBAL MARKET ANALYSIS
3.1 Global Business Travel Market: An Analysis
3.1.1 Global Business Travel Market by Value
3.1.2 Global Business Travel Market by Region (China, Germany, UK, India, South Korea, Brazil, Spain, Russia, the US, Japan, France, Italy, Canada, Australia, Netherlands and ROW)
4. REGIONAL MARKET ANALYSIS
4.1 China Business Travel Market: An Analysis
4.1.1 China Business Travel Market by Value
4.2 The US Business Travel Market: An Analysis
4.2.1 The US Business Travel Market by Value
4.2.2 The US Business Travel Market by Volume
4.3 Germany Business Travel Market: An Analysis
4.3.1 Germany Business Travel Market by Value
4.4 Japan Business Travel Market: An Analysis
4.4.1 Japan Business Travel Market by Value
4.5 UK Business Travel Market: An Analysis
4.5.1 UK Business Travel Market by Value
4.6 France Business Travel Market: An Analysis
4.6.1 France Business Travel Market by Value
4.7 South Korea Business Travel Market: An Analysis
4.7.1 South Korea Business Travel Market by Value
4.8 India Business Travel Market: An Analysis
4.8.1 India Business Travel Market by Value
4.9 Italy Business Travel Market: An Analysis
4.9.1 Italy Business Travel Market by Value
4.10 Canada Business Travel Market: An Analysis
4.10.1 Canada Business Travel Market by Value
4.11 Brazil Business Travel Market: An Analysis
4.11.1 Brazil Business Travel Market by Value
4.12 Australia Business Travel Market: An Analysis
4.12.1 Australia Business Travel Market by Value
4.13 Spain Business Travel Market: An Analysis
4.13.1 Spain Business Travel Market by Value
4.14 Netherlands Business Travel Market: An Analysis
4.14.1 Netherlands Business Travel Market by Value
4.15 Russia Business Travel Market: An Analysis
4.15.1 Russia Business Travel Market by Value
4.16 ROW Business Travel Market: An Analysis
4.16.1 ROW Business Travel Market by Value
5. MARKET DYNAMICS
5.1 Growth Drivers
5.1.1 Rising Adoption of Cloud Technology
5.1.2 Increasing Internet Penetration
5.1.3 Growing Role of Big Data
5.1.4 Growth in IoT (Internet of Things)
5.1.5 Increasing Involvement of Artificial Intelligence
5.1.6 Rising GDP Per Capita
5.2 Challenges
5.2.1 Data Breaches
5.2.2 Use of Videoconferencing by Small and Medium Enterprises (SMEs)
5.2.3 Rising Hotel Costs
5.3 Market Trends
5.3.1 Increasing Use of Blockchain Technology
5.3.2 Growing Number of Mobile Bookings
5.3.3 E-Travel
5.3.4 Rise in Bleisure Travel
6. COMPETITIVE LANDSCAPE
6.1 Global Business Travel Market Players: Financial Comparison
6.2 Global Business Travel Market Players by Total Transacted Value (TTV)
7. COMPANY PROFILES
7.1 Carlson Holdings, Inc. (Carlson Wagonlit Travel)
7.1.1 Business Overview
7.1.2 Business Strategy
7.2 American Express Company (American Express Global Business Travel)
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy
7.3 Expedia Group, Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy
7.4 BCD Group (BCD Travel)
7.4.1 Business Overview
7.4.2 Business Strategy
2. INTRODUCTION
2.1 Business Travel: An Overview
2.1.1 Business Travel Types
2.2 Business Travel Segmentation: An Overview
2.2.1 Business Travel Segmentation by Type and Purpose
2.2.2 Business Travel Segmentation by Service, Traveler and Industry
2.3 Business Travel Management: An Overview
3. GLOBAL MARKET ANALYSIS
3.1 Global Business Travel Market: An Analysis
3.1.1 Global Business Travel Market by Value
3.1.2 Global Business Travel Market by Region (China, Germany, UK, India, South Korea, Brazil, Spain, Russia, the US, Japan, France, Italy, Canada, Australia, Netherlands and ROW)
4. REGIONAL MARKET ANALYSIS
4.1 China Business Travel Market: An Analysis
4.1.1 China Business Travel Market by Value
4.2 The US Business Travel Market: An Analysis
4.2.1 The US Business Travel Market by Value
4.2.2 The US Business Travel Market by Volume
4.3 Germany Business Travel Market: An Analysis
4.3.1 Germany Business Travel Market by Value
4.4 Japan Business Travel Market: An Analysis
4.4.1 Japan Business Travel Market by Value
4.5 UK Business Travel Market: An Analysis
4.5.1 UK Business Travel Market by Value
4.6 France Business Travel Market: An Analysis
4.6.1 France Business Travel Market by Value
4.7 South Korea Business Travel Market: An Analysis
4.7.1 South Korea Business Travel Market by Value
4.8 India Business Travel Market: An Analysis
4.8.1 India Business Travel Market by Value
4.9 Italy Business Travel Market: An Analysis
4.9.1 Italy Business Travel Market by Value
4.10 Canada Business Travel Market: An Analysis
4.10.1 Canada Business Travel Market by Value
4.11 Brazil Business Travel Market: An Analysis
4.11.1 Brazil Business Travel Market by Value
4.12 Australia Business Travel Market: An Analysis
4.12.1 Australia Business Travel Market by Value
4.13 Spain Business Travel Market: An Analysis
4.13.1 Spain Business Travel Market by Value
4.14 Netherlands Business Travel Market: An Analysis
4.14.1 Netherlands Business Travel Market by Value
4.15 Russia Business Travel Market: An Analysis
4.15.1 Russia Business Travel Market by Value
4.16 ROW Business Travel Market: An Analysis
4.16.1 ROW Business Travel Market by Value
5. MARKET DYNAMICS
5.1 Growth Drivers
5.1.1 Rising Adoption of Cloud Technology
5.1.2 Increasing Internet Penetration
5.1.3 Growing Role of Big Data
5.1.4 Growth in IoT (Internet of Things)
5.1.5 Increasing Involvement of Artificial Intelligence
5.1.6 Rising GDP Per Capita
5.2 Challenges
5.2.1 Data Breaches
5.2.2 Use of Videoconferencing by Small and Medium Enterprises (SMEs)
5.2.3 Rising Hotel Costs
5.3 Market Trends
5.3.1 Increasing Use of Blockchain Technology
5.3.2 Growing Number of Mobile Bookings
5.3.3 E-Travel
5.3.4 Rise in Bleisure Travel
6. COMPETITIVE LANDSCAPE
6.1 Global Business Travel Market Players: Financial Comparison
6.2 Global Business Travel Market Players by Total Transacted Value (TTV)
7. COMPANY PROFILES
7.1 Carlson Holdings, Inc. (Carlson Wagonlit Travel)
7.1.1 Business Overview
7.1.2 Business Strategy
7.2 American Express Company (American Express Global Business Travel)
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy
7.3 Expedia Group, Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy
7.4 BCD Group (BCD Travel)
7.4.1 Business Overview
7.4.2 Business Strategy
LIST OF FIGURES
Figure 1: Types of Business Travel
Figure 2: Business Travel Segmentation by Type and Purpose
Figure 3: Business Travel Segmentation by Service, Traveler and Industry
Figure 4: Travel Management Companies (TMCs) Limitations
Figure 5: Online Business Tools (OBTs) Advantages
Figure 6: Global Business Travel Market by Value; 2014-2018 (US$ Trillion)
Figure 7: Global Business Travel Market by Value; 2019-2023 (US$ Trillion)
Figure 8: Global Business Travel Market by Region; 2018 (Percentage, %)
Figure 9: China Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 10: China Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 11: The US Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 12: The US Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 13: The US Business Travel Market by Volume; 2014-2018 (Million)
Figure 14: The US Business Travel Market by Volume; 2019-2023 (Million)
Figure 15: Germany Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 16: Germany Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 17: Japan Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 18: Japan Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 19: UK Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 20: UK Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 21: France Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 22: France Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 23: South Korea Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 24: South Korea Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 25: India Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 26: India Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 27: Italy Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 28: Italy Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 29: Canada Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 30: Canada Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 31: Brazil Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 32: Brazil Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 33: Australia Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 34: Australia Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 35: Spain Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 36: Spain Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 37: Netherlands Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 38: Netherlands Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 39: Russia Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 40: Russia Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 41: ROW Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 42: ROW Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 43: Global Public Cloud Computing Market by Value; 2013-2020 (US$ Billion)
Figure 44: Global Internet Penetration; 2014-2021 (Percentage, %)
Figure 45: Global Big Data Market Revenue; 2014-2020 (US$ Billion)
Figure 46: Global Internet of Things (IoT) Connected Devices Installed Base; 2015-2025 (Billion)
Figure 47: Global Artificial Intelligence Market Revenue; 2016-2025 (US$ Billion)
Figure 48: Global GDP Per Capita; 2015-2023 (US$ Thousand)
Figure 49: Global Blockchain Technology Market by Value; 2016-2021 (US$ Billion)
Figure 50: Global Mobile App Downloads; 2017-2022 (Billion)
Figure 51: Global E-Travel Revenue; 2016-2022 (US$ Billion)
Figure 52: American Express Company Total Revenue; 2014-2018 (US$ Billion)
Figure 53: American Express Company Total Revenue by Segments; 2018 (Percentage, %)
Figure 54: American Express Company Total Revenue by Region; 2018 (Percentage, %)
Figure 55: Expedia Group, Inc. Revenue; 2014-2018 (US$ Billion)
Figure 56: Expedia Group, Inc. Revenue by Segments; 2018 (Percentage, %)
Figure 57: Expedia Group, Inc. Revenue by Region; 2018 (Percentage, %)
Table 1: Types of Business Travel
Table 2: Global Business Travel Market Players Financial Comparison; 2018
Table 3: Global Business Travel Market Players by Total Transacted Value (TTV)
Figure 1: Types of Business Travel
Figure 2: Business Travel Segmentation by Type and Purpose
Figure 3: Business Travel Segmentation by Service, Traveler and Industry
Figure 4: Travel Management Companies (TMCs) Limitations
Figure 5: Online Business Tools (OBTs) Advantages
Figure 6: Global Business Travel Market by Value; 2014-2018 (US$ Trillion)
Figure 7: Global Business Travel Market by Value; 2019-2023 (US$ Trillion)
Figure 8: Global Business Travel Market by Region; 2018 (Percentage, %)
Figure 9: China Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 10: China Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 11: The US Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 12: The US Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 13: The US Business Travel Market by Volume; 2014-2018 (Million)
Figure 14: The US Business Travel Market by Volume; 2019-2023 (Million)
Figure 15: Germany Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 16: Germany Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 17: Japan Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 18: Japan Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 19: UK Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 20: UK Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 21: France Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 22: France Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 23: South Korea Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 24: South Korea Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 25: India Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 26: India Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 27: Italy Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 28: Italy Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 29: Canada Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 30: Canada Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 31: Brazil Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 32: Brazil Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 33: Australia Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 34: Australia Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 35: Spain Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 36: Spain Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 37: Netherlands Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 38: Netherlands Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 39: Russia Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 40: Russia Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 41: ROW Business Travel Market by Value; 2016-2018 (US$ Billion)
Figure 42: ROW Business Travel Market by Value; 2019-2023 (US$ Billion)
Figure 43: Global Public Cloud Computing Market by Value; 2013-2020 (US$ Billion)
Figure 44: Global Internet Penetration; 2014-2021 (Percentage, %)
Figure 45: Global Big Data Market Revenue; 2014-2020 (US$ Billion)
Figure 46: Global Internet of Things (IoT) Connected Devices Installed Base; 2015-2025 (Billion)
Figure 47: Global Artificial Intelligence Market Revenue; 2016-2025 (US$ Billion)
Figure 48: Global GDP Per Capita; 2015-2023 (US$ Thousand)
Figure 49: Global Blockchain Technology Market by Value; 2016-2021 (US$ Billion)
Figure 50: Global Mobile App Downloads; 2017-2022 (Billion)
Figure 51: Global E-Travel Revenue; 2016-2022 (US$ Billion)
Figure 52: American Express Company Total Revenue; 2014-2018 (US$ Billion)
Figure 53: American Express Company Total Revenue by Segments; 2018 (Percentage, %)
Figure 54: American Express Company Total Revenue by Region; 2018 (Percentage, %)
Figure 55: Expedia Group, Inc. Revenue; 2014-2018 (US$ Billion)
Figure 56: Expedia Group, Inc. Revenue by Segments; 2018 (Percentage, %)
Figure 57: Expedia Group, Inc. Revenue by Region; 2018 (Percentage, %)
Table 1: Types of Business Travel
Table 2: Global Business Travel Market Players Financial Comparison; 2018
Table 3: Global Business Travel Market Players by Total Transacted Value (TTV)
