The global business travel market has been reported to reach A

USA, Nov. 24, 2022 (GLOBE NEWSWIRE) — “Global Business Travel Market” is the title of a recently published JCMR market research report. Thе rеѕеаrсh ѕtudу іnvоlvеd ehrеrt orіnіоn and using рrіmаrу аn ѕесоndаrу data ѕоurсеѕ, аnfоrtѕ wеrе no lіmіtеd tо ​​​​оnлу іn-hоuѕе аnаlуѕіѕ. The market research process develops a study of both impacts; positive or negative for the industry or market globally. While research report includes various factors such as hіѕtоrісаl date, tесhnоlоgісаl іnnоvаtіоnѕ, gоvеrnmеnt роlісіеѕ аnd mаndаtеѕ, соmреtіtіvе lаndѕсаре, nеw ѕоlutіоnѕ аnd аltеrаtіоnѕ сurrеnt аnd hіѕtоrісаl trend in the market, market еnvіrоnmеnt, tесhnоlоgісаl аdvаnсеmеntѕ in rеlаtеd іnduѕtrіеѕ as well as market growth bаrrіеrѕ аnd сhаllеngеѕ , futurе ѕсеnаrіоѕ, orроrtunіtіеѕ and mаrkеt rіѕkѕ are covered and details are included in thе rероrt. The market is segmented on the basis of type, purpose, cost, passenger, service, regions and countries. Global business travel market revenue is expected to reach USD 1,841.2 billion in 2028.

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Global marketplace for business travel Overview:

Business travel, commonly referred to as corporate travel, is travel undertaken specifically for professional reasons or to expand business operations. This includes visiting a separate business office, going to a different location to meet with suppliers and customers, attending conferences and attending business events. The trend of business travel, which includes customer meetings, brand and product marketing, business growth, and staff training and incentives, has recently gained momentum as a result of the world’s increasing globalization. Employees who travel for work can explore the world at the expense of the company, which is one of the many benefits that business travel offers. It is also common to see many professionals such as doctors, nurses and other medical personnel traveling for their jobs.

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Global marketplace for business travel Dunamis:

Increasing digitization is impacting the corporate and tourism sectors as well as the global business travel market. Another benefit of the expanding use of the Internet of Things (IoT) is that it has enabled travelers and travel companies to carry out activities quickly and easily. These factors are expected to have a major impact on the growth of the business travel industry.

Robotic technologies can minimize human contact and contribute to the future growth of the business travel industry. The use of robotic technology is a common trend that attracts guests to hotels. Robots are used in hotels to carry luggage, clean rooms, greet visitors and provide information. In restaurants, robots can be used in roles related to food preparation and service.

Growing meetings, incentives, conferences and events (MICE) activities in major industries as well as the small and medium-sized business (SME) sector are driving the business travel market. Moreover, accelerated growth in the travel retail sector and higher investment in infrastructure would function as market drivers and provide lucrative chances for the growth rate of the market.

However, as it saves time and money compared to travel, the entry of advanced technologies such as video conferencing is expected to hinder the growth of the global business travel market subsequently. Moreover, throughout the forecast period, the global outbreak of COVID-19 and subsequent lockdown is expected to pose challenges to the business travel industry.

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Global marketplace for business travel Rеgіоnаl Ѕеgmеntаtіоn аnd Аnаlуѕіѕ:

The global business travel market has been analyzed on the basis of regions viz. North America, Europe, Asia, South America and Middle East & Africa. North America accounted for significant revenue in the global business travel market in 2021. In 2025, the North American market is expected to reach a revenue of US$ 433.8 billion and is scheduled to register a роbuѕt саgR оvеr.

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Global marketplace for business travel Segmentation:

Type

  • Managed business travel
  • Unmanageable business trip

Service

  • Transportation
  • Food and accommodation
  • Recreational activity

B region:

  • North America
  • euro
  • Asia Russia
  • South America
  • Middle East and Africa

Key Players:

  • Airbnb, Inc.
  • American Express Company
  • BCD Group
  • Reservation farms
  • CWT solutions
  • Corporate travel management
  • Expedia, Inc.
  • Fareportal
  • Flight Center Travel Group Limited (formerly Flight Center Limited)
  • Wexas Travel
  • Hogg Robinson Ltd
  • Priceline
  • Egencia LLC
  • Frog International Travel
  • Ovation Travel Group
  • A group of travel leaders

Other key players

        

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