Business Travel Market Trends and Analysis by Application, Vertical, Region, and Segment Forecast to 2029

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The Business Research Company’s Business Travel Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Estimated Industry Size Of Business Travel Market?
The corporate travel market has seen swift expansion in the recent past. The market is expected to escalate from a worth of $908.28 billion in 2024 to $1009.18 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 11.1%. The growth seen over the historical period can be credited to factors like the industrial revolution, the growing ties between worldwide economies, an increase in meetings of multinational corporations, a rise in the occurrence of conferences and trade exhibitions, and the surge of technology companies.

The market size of business travel is projected to experience a fast-paced trajectory in the succeeding years, with expectations of reaching a value of $1605.12 billion in 2029, charting a compound annual growth rate (CAGR) of 12.3%. The cause for this predicted expansion during the forecast period can be pinned to a flourishing economy, amplified business activities, an increasing amount spent on business travels, liberal travel policies, and rising global footprint of multinational corporations. Noteworthy trends during the forecast period encompass breakthroughs in travel technology, enhancements in online booking platforms, incorporation of AI, a focus on sustainability, and the preference for environmentally friendly travel alternatives.

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What Are The Major Factors Driving The Business Travel Global Market Growth?
The growth of the business travel market is anticipated to be spurred on by the rise of exhibitions. An exhibition, which presents products, artworks, or information for public viewing in an organized manner, is witnessing a growth trend. Businesses are increasingly acknowledging the primary role of exhibitions in bolstering direct customer engagement and promoting brand awareness in intense competition environments. Business travel is punctuated by must-visit exhibition stops, offering businesses the platform to establish connections, present their offerings, and nurture global customer relationships. For instance, a report from UFI, the Global Association of the Exhibition Industry, which is based in France and represents global tradeshow organizers, stated that the exhibition industry in the majority of global markets fully bounced back from the 2023 pandemic-induced decline by February 2024. The revenues were on par with those in 2019. Moreover, the forecast for 2024 is on a positive trajectory, with an expected average revenue growth of 15%, positioning the industry for record-high revenue levels. Consequently, the rising trend in exhibitions is a significant contributor to the growth of the business travel market.

Who Are The Leading Companies In The Business Travel Market?
Major players in the Business Travel include:

• American Express Company
• Delta Air Lines
• United Airlines Inc.
• Lufthansa Ltd.
• British Airways plc
• Travelport Worldwide Ltd.
• SAP Concur
• Orbitz
• BCD Group
• Navan Inc.

What Are The Key Trends And Market Opportunities In The Business Travel Sector?
Leading firms in the business travel sector are introducing innovative solutions, such as AI-enhanced flight sorting tools, to simplify reservation procedures, improve passenger experiences, and maximize cost-effectiveness. These AI-enabled flight sorting tools are digital systems that use AI technologies to review and rank flight choices according to various parameters such as safety, cost-efficiency, travel duration, and passenger preferences. For example, in July 2023, BCD Travel, a business travel company based in the Netherlands, introduced GetGoing, a comprehensive digital platform designed for small to medium-sized companies in the U.S. This platform merges the convenience of self-service with professional support and provides features like reservation, policy automation, reporting, safety measures for travelers, and professional help. GetGoing makes travel management procedures effortless, enabling straightforward booking and policy establishment, along with real-time reporting for cost-efficiency.

What Are The Primary Segments Covered In The Global Business Travel Market Report?
The business travelmarket covered in this report is segmented –

1) By Type: Managed Business Travel, Unmanaged Business Travel
2) By Service: Transportation, Food And Lodging, Business Activity
3) By Age Group: Marketing Travel Fare Travelers Below 40 Years, Travelers Above 40 Years
4) By Purpose: Marketing, Meetings, Trade Shows Or Exhibitions, Product Launch, Other Purposes
5) By Industry: Government, Corporate

Subsegments:
1) By Managed Business Travel: Corporate Travel Programs, Travel Management Companies (Tmcs), Online Booking Tools (Obts)
2) By Unmanaged Business Travel: Self-Booking, Direct Supplier Booking, Ad-Hoc Travel

View the full business travel market report:
https://www.thebusinessresearchcompany.com/report/business-travel-global-market-report

Which Region Is Forecasted To Grow The Fastest In The Business Travel Industry?
In 2024, the Asia-Pacific held the prime position in the business travel market. The report on the business travel market details all regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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