Industry Background:
Business travel is a journey specifically taken for work or business purposes that don’t include daily commutes, leisure trips, or holidays. In today’s time, SMEs and large businesses are putting their staff on the field to build relationships with new companies, sign new contracts, etc. for business expansion. This travel includes traveling to different branches of the same company, to meet business partners, attend meetings & business conferences or exhibitions or trade fairs, etc. The market is receiving increased focus as business travelers are spending more money on their travels, especially when their costs are covered by their employer.This growth is primarily driven by Rapidly Growing Business Travel Due to Globalization and Availability of Flights and Growing Awareness About Importance of Business Travel to Build and Maintain Relationships.
Globally, a noticeable market trend is evident Inclination towards the Sharing Economy Such as Ride Sharing, Home Sharing to Reduce Transportation Cost. Major Players, such as American Express GBT (United States), Veena World (India), Expedia Partner Solutions (United States), CWT Global (United States), Corporate Traveller (United Kingdom), Travel Beyond Group (New Zealand), Your Travel (United Kingdom), Forest Travel (United States), SAP Concur (United States) and GTI Travel (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Rapidly Growing Business Travel Due to Globalization and Availability of Flights
- Growing Awareness About Importance of Business Travel to Build and Maintain Relationships
Market Trend
- Inclination towards the Sharing Economy Such as Ride Sharing, Home Sharing to Reduce Transportation Cost
Restraints
- Time-Consuming and Lengthy Post-travel Expense Management Process
Opportunities
Increasing Use of Digital Platforms to Get Accessible Customer Experience at Discounted Price
Challenges
Frequent Travel for Work Can Negatively Affect Mental Health
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Business-to-Business Travel Study Sheds Light on
The Business-to-Business Travel Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Business-to-Business Travel industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Business-to-Business Travel industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.