Global Business Travel Management Service Market Growth (Status and Outlook) 2023-2029

Global Business Travel Management Service Market Growth (Status and Outlook) 2023-2029

Business travel management providers offer services to help companies create ideal and effective travel arrangement processes. Providers help direct businesses toward the most favorable airfare, hotel, rental car, and travel insurance accommodations on an ad-hoc or ongoing basis. These services ensure corporate trips are well organized and within a specified budget by negotiating travel costs and connecting businesses to established partners for travel discounts. Many providers also offer financial consulting services by analyzing a business' average travel spend to improve implemented travel arrangement processes.

Companies typically utilize business travel management services to gain the highest possible ROI on travel spend. Providers identify savings methods by analyzing the travel and tourism market to offer educated travel arrangement insights to clients. Many providers are involved in partnership programs, giving businesses access to special vendor discounts.

Beyond consulting, many business travel management services providers may help businesses implement a travel arrangement software as a long-term travel budgeting and planning tool. Businesses can also implement financial consulting providers for deeper and more broad budget analysis.

The Business Travel Management Service industry can be broken down into several segments, Consulting Services, Transportation & Accommodation, etc.

Across the world, the major players cover CWT, Corporate Travel Management, etc.

LPI (LP Information)' newest research report, the “Business Travel Management Service Industry Forecast” looks at past sales and reviews total world Business Travel Management Service sales in 2022, providing a comprehensive analysis by region and market sector of projected Business Travel Management Service sales for 2023 through 2029. With Business Travel Management Service sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Business Travel Management Service industry.

This Insight Report provides a comprehensive analysis of the global Business Travel Management Service landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Business Travel Management Service portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Business Travel Management Service market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Business Travel Management Service and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Business Travel Management Service.

The global Business Travel Management Service market size is projected to grow from US$ 7260.4 million in 2022 to US$ 14390 million in 2029; it is expected to grow at a CAGR of 10.3% from 2023 to 2029.

Global key players of Business Travel Management Service include GBT, CWT, FCM Travel Solutions, Direct Travel, CorpTrav (FROSCH), Corporate Travel Management and JTB Business Travel, etc. Top three players occupy for a share about 26%. Asia-Pacific is the largest market, with a share about 41%, followed by Europe and North America. In terms of product, Transportation and Accommodation is the largest segment, with a share over 62%. In terms of application, SMEs is the largest market, with a share over 67%.

This report presents a comprehensive overview, market shares, and growth opportunities of Business Travel Management Service market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Consulting Service
Management Software

Segmentation by application
Large Enterprises
SMEs

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Carlson Wagonlit Travel
Corporate Travel Management
S.R. Travel Service
FCM Travel Solutions
GBT Travel Services
ARTA Travel
BCD Group
Cain Travel
Corporate Travel Planners
EHI Direct
CorpTrav

Please note: The report will take approximately 2 business days to prepare and deliver.