Global Business Travel Market 2014-2018: Key Vendors are American Express, BCD, Carlson, Expedia and Hogg Robinson

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Oct 10, 2014, 01:59 ET

DUBLIN, October 10, 2014 /PRNewswire/ --

Dublin - Research and Markets (http://www.researchandmarkets.com/research/nd7rnm/global_business) has announced the addition of the "Global Business Travel Market 2014-2018" report to their offering.
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Business travel management is a specific business function that aligns employee requirements with corporate goals, both on financial and other terms. It helps in realizing cost tracking and control for organizations, facilitates employees to adhere to corporate travel and entertainment (T&E) policies, and generates mass savings through negotiated discounts.

It also serves in building up an information center for employees and travel managers in times when travel is afflicted with problems of safety and uncertainty. Organizations are increasingly setting up their in-house travel departments and employing external service providers such as TMCs in anticipation of the dynamic changes in the global business landscape.

The analysts forecast the Global Business Travel market to grow at a CAGR of 7.19 percent over the period 2013-2018.

The Global Business Travel market can be segmented into four: Sourcing and Procurement, Planning and Booking, Account Management, and Measuring and Reporting. Customers from almost every vertical are nowadays taking this aspect of business as a priority.

The report, the Global Business Travel Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, North America, the Rest of the World (ROW), and Western Europe; it also covers the Global Business Travel market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

One of the major trends impacting the growth of this market is the rise in technology adoption in the travel management process. Organizations' travel management departments are increasingly outsourcing their services to travel management companies, which are developing advanced tools that facilitate both the employees' and the organizations' needs.

According to the report, increased demand for business travel in the Asia Pacific region is one of the major drivers in the market. The rise in business activity is driving the need for travel to and from this region. Industries such as healthcare and pharmaceuticals, and manufacturing, which are the largest end customers for business travel, are rapidly increasing their operations in the APAC region because of the lower unit cost of production, thus driving the market in this region.

Further, the report states that one of the major challenges that the market faces is the current political instability around the world, which disrupts normal business operations in a country. Business travelers anticipate a threat to their safety and well-being and refrain from using travel services.

Key Topics Covered:

01. Executive Summary

02. List of Abbreviations

03. Scope of the Report

04. Market Research Methodology

05. Introduction

06. Market Landscape

07. Market Segmentation by Services

08. Market Segmentation by End-users

09. Geographical Segmentation

10. Key Leading Countries

11. Buying Criteria

12. Market Growth Drivers

13. Drivers and their Impact

14. Market Challenges

15. Impact of Drivers and Challenges

16. Market Trends

17. Trends and their Impact

18. Vendor Landscape

19. Key Vendor Analysis

20. Other Reports in this Series

Companies Mentioned: