Market Overview:
The global corporate travel market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market growth is attributed to the increasing number of business travelers, rising demand for corporate events and incentive travel, and growing adoption of online booking platforms. The global corporate travel market can be segmented by type, application, and region. By type, the market can be divided into exhibitions and trade fairs, conferences and meetings, corporate events, incentive travel, and others. The conference and meetings segment is expected to grow at the highest CAGR during the forecast period owing to the increasing demand for business meetings among corporations across different regions. By application, the global corporate travel market can be classified into group travelers and solo travelers.
Product Definition:
The definition of Corporate Travel is the travel that is undertaken by employees of a company or organization. The importance of Corporate Travel can be seen in the fact that it allows companies to conduct business meetings and other activities outside of their home base.
Exhibitions and Trade Fairs:
Exhibitions and trade fairs are events that are organized to promote the products/services of a particular company. They occur in various forms such as trade shows, international exhibitions, business expos etc. The primary objective of exhibiting is to make the products/ services available across all regions so that they can be easily accessible for potential customers. Moreover, it also helps companies in networking with other organizations which eventually helps them increase their market share and visibility over a period of time.
Conferences and Meetings:
Conference and meetings and it's usage in corporate travel market is a service that helps organizations to book rooms, suites, auditoriums; provide information on facilities & services; offer discounts on hotel rooms; etc. This service also provides meeting space options including room blocks and virtual event planning. It also offers various other conference services such as printing & copying, video conferencing equipment rental along with many other additional services for events management such as catering and audio-visual aids.
Application Insights:
The group application segment accounted for the largest share of over 60.0% in 2017. Solo travelers are expected to prefer group travel as groups tend to have a larger budget, which enables them to spend more on activities and services such as accommodation, food & beverages, entertainment and transportation. Group tours or travels enable companies to offer customized products according to the requirements of customers thereby driving the growth of this segment.
Corporate events include product launches and other similar occasions where corporate employees gather together for a specific purpose such as socializing with old friends or making new acquaintances during an organized event tour. Incentive travel is intended for sales personnel who are traveling either on business or private purposes wherein they receive incentives from their employer in return for meeting/ exceeding targets set by management thus driving its growth over the forecast period especially across North America and Europe regions where it is widely used by organizations in order to attract/ retain top talent at competitive rates thus fueling market demand further.
Regional Analysis:
The CCT market in North America accounted for the highest revenue share of over 40% in 2017. The region is expected to continue its dominance over the forecast period, with U.S. being at the forefront and Canada following closely behind it.
Growth Factors:
- Increasing globalization and business travel needs
- Proliferation of online booking tools and services
- Rising demand for luxury travel experiences
- Expansion of corporate wellness programs
- Growing popularity of team-building and incentive trips
Scope Of The Report
Report Attributes
Report Details
Report Title
Corporate Travel Market Research Report
By Type
Exhibitions and Trade Fairs, Conferences and Meetings, Corporate Events, Incentive Travel, Others
By Application
Group, Solo
By Companies
Expedia, Booking, American Express Global Business Travel (GBT), BCD Travel, CWT, Flight Centre, American Express Travel, Travel Leaders Group, Direct Travel, Corporate Travel Management, ATPI, Fareportal, Airbnb, China Tourism Group, China CYTS Tours
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
181
Number of Tables & Figures
127
Customization Available
Yes, the report can be customized as per your need.
Global Corporate Travel Market Report Segments:
The global Corporate Travel market is segmented on the basis of:
Types
Exhibitions and Trade Fairs, Conferences and Meetings, Corporate Events, Incentive Travel, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Group, Solo
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Expedia
- Booking
- American Express Global Business Travel (GBT)
- BCD Travel
- CWT
- Flight Centre
- American Express Travel
- Travel Leaders Group
- Direct Travel
- Corporate Travel Management
- ATPI
- Fareportal
- Airbnb
- China Tourism Group
- China CYTS Tours
Highlights of The Corporate Travel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Exhibitions and Trade Fairs
- Conferences and Meetings
- Corporate Events
- Incentive Travel
- Others
- By Application:
- Group
- Solo
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Corporate Travel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Corporate travel is the term used to describe the organized trips made by businesses and organizations for their employees. Corporate travel can take many different forms, from group tours to individual vacations.
Some of the key players operating in the corporate travel market are Expedia, Booking, American Express Global Business Travel (GBT), BCD Travel, CWT, Flight Centre, American Express Travel, Travel Leaders Group, Direct Travel, Corporate Travel Management, ATPI, Fareportal, Airbnb, China Tourism Group, China CYTS Tours.
The corporate travel market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Corporate Travel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Corporate Travel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Corporate Travel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Corporate Travel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Corporate Travel Market Size & Forecast, 2020-2028
4.5.1 Corporate Travel Market Size and Y-o-Y Growth
4.5.2 Corporate Travel Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Exhibitions and Trade Fairs
5.2.2 Conferences and Meetings
5.2.3 Corporate Events
5.2.4 Incentive Travel
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Group
6.2.2 Solo
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Corporate Travel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Corporate Travel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Exhibitions and Trade Fairs
9.6.2 Conferences and Meetings
9.6.3 Corporate Events
9.6.4 Incentive Travel
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Group
9.10.2 Solo
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Exhibitions and Trade Fairs
10.6.2 Conferences and Meetings
10.6.3 Corporate Events
10.6.4 Incentive Travel
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Group
10.10.2 Solo
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Exhibitions and Trade Fairs
11.6.2 Conferences and Meetings
11.6.3 Corporate Events
11.6.4 Incentive Travel
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Group
11.10.2 Solo
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Exhibitions and Trade Fairs
12.6.2 Conferences and Meetings
12.6.3 Corporate Events
12.6.4 Incentive Travel
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Group
12.10.2 Solo
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Exhibitions and Trade Fairs
13.6.2 Conferences and Meetings
13.6.3 Corporate Events
13.6.4 Incentive Travel
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Group
13.10.2 Solo
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Corporate Travel Market: Competitive Dashboard
14.2 Global Corporate Travel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Expedia
14.3.2 Booking
14.3.3 American Express Global Business Travel (GBT)
14.3.4 BCD Travel
14.3.5 CWT
14.3.6 Flight Centre
14.3.7 American Express Travel
14.3.8 Travel Leaders Group
14.3.9 Direct Travel
14.3.10 Corporate Travel Management
14.3.11 ATPI
14.3.12 Fareportal
14.3.13 Airbnb
14.3.14 China Tourism Group
14.3.15 China CYTS Tours
