Travel Market Segmentation by Sector and Geography, Key Drivers and Market Forecasts - Technavio
NEW YORK, July 26, 2022 /PRNewswire/ -- The Travel Market size in the consumer discretionary industry is expected to grow by USD 451.19 billion during the forecasted period. Technavio's latest market research report estimates that the travel market will progress at a CAGR of 13.86%. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. Read Sample Report
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. American Automobile Association Inc., BCD Travel Services BV, Booking Holdings Inc., Corporate Travel Management Ltd., CWT Global BV, Expedia Group Inc., Fareportal Inc, Flight Centre Travel Group Ltd., GBT Travel Services UK Limited, and Travel Leaders Group LLC are some of the major market participants.
Technological advances, growing social media penetration, and increasing international tourism will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Buy Sample Report.
To help businesses improve their market position, the travel market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include
- American Automobile Association Inc.
- BCD Travel Services BV
- Booking Holdings Inc.
- Corporate Travel Management Ltd.
- CWT Global BV
- Expedia Group Inc.
- Fareportal Inc
- Flight Centre Travel Group Ltd.
- GBT Travel Services UK Limited
- Travel Leaders Group LLC
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Latest Sample Report.
- Sector
- Airline
- Hotel
- Travel activities
- Others
- Geography
- APAC
- Europe
- North America
- South America
- MEA
The airline segment's market share will expand significantly. The airline travel sectors of many nations worldwide have expanded in tandem with the expansion of the global economy. Increased airline passenger traffic has led to higher revenues and related taxes, both of which have aided in the growth of the economy. Due to the advent of trip packages like tourism packages, this development is anticipated to continue during the projection period.
Technology advancements are a major component in the expansion of the world travel sector. The travel industry depends on cutting-edge technical solutions to help travel agents and their clients access travel data, compare available reservation alternatives, and make reservations for the most practical, affordable, and comfortable option. Another major travel market trend that is anticipated to have a favorable effect on the sector throughout the forecast period is the growth of international tourism.
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Travel Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 13.86% |
Market growth 2022-2026 | $ 451.19 billion |
Market structure | Fragmented |
YoY growth (%) | 13.08 |
Regional analysis | APAC, Europe, North America, South America, and MEA |
Performing market contribution | APAC at 41% |
Key consumer countries | China, the US, Germany, Japan, and the UK |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | American Automobile Association Inc., BCD Travel Services BV, Booking Holdings Inc., Corporate Travel Management Ltd., CWT Global BV, Expedia Group Inc., Fareportal Inc, Flight Centre Travel Group Ltd., GBT Travel Services UK Limited, and Travel Leaders Group LLC |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1. Executive Summary
1.1 Market overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent market
Exhibit 08: Parent market
Exhibit 09: Market characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis: Hotel, Restaurants, and Leisure
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Services
2.2.5 Marketing and sales
2.2.6 Support activities
2.2.7 Innovation
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ billion)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Sector
5.1 Market segments
Exhibit 22: Sector - Market share 2021-2026 (%)
5.2 Comparison by Sector
Exhibit 23: Comparison by Sector
5.3 Transportation - Market size and forecast 2021-2026
Exhibit 24: Transportation - Market size and forecast 2021-2026 ($ billion)
Exhibit 25: Transportation - Year-over-year growth 2021-2026 (%)
5.4 Hotel - Market size and forecast 2021-2026
Exhibit 26: Hotel - Market size and forecast 2021-2026 ($ billion
Exhibit 27: Hotel - Year-over-year growth 2021-2026 (%)
5.5 Travel activities - Market size and forecast 2021-2026
Exhibit 28: Travel activities - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Travel activities - Year-over-year growth 2021-2026 (%)
5.6 Market opportunity by Sector
Exhibit 30: Market opportunity by Sector
6. Customer landscape
Technavio's customer landscape matrix compares Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate, and Key purchase criteria
6.1 Overview
Exhibit 31: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 32: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 33: Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
Exhibit 34: APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 35: APAC - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 36: Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 37: Europe - Year-over-year growth 2021-2026 (%)
7.5 North America - Market size and forecast 2021-2026
Exhibit 38: North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 39: North America - Year-over-year growth 2021-2026 (%)
7.6 South America - Market size and forecast 2021-2026
Exhibit 40: South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 41: South America - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 42: MEA - Market size and forecast 2021-2026 ($ billion)
Exhibit 43: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 44: Key leading countries
7.9 Market opportunity by geography
Exhibit 45: Market opportunity by geography ($ billion)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing adoption of online payment platforms
8.1.2 Technological advances
8.1.3 Growing demand for multigenerational and micro trips
8.2 Market challenges
8.2.1 Threat from growing terrorism
8.2.2 Health and safety risks associated with travel
8.2.3 Travel fatigue
Exhibit 46: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increasing international tourist footfall
8.3.2 Increase in the number of mergers and acquisitions (M&A), partnerships, and strategic alliances
8.3.3 Increasing disposable incomes
9. Vendor Landscape
9.1 Overview
Exhibit 47: Vendor landscape
9.2 Landscape disruption
Exhibit 48: Landscape disruption
Exhibit 49: Industry risks
9.3 Competitive Landscape
10. Vendor Analysis
10.1 Vendors covered
Exhibit 50: Vendors covered
10.2 Market positioning of vendors
Exhibit 51: Matrix on vendor position and classification
10.3 American Automobile Association Inc.
Exhibit 52: American Automobile Association Inc. - Overview
Exhibit 53: American Automobile Association Inc. - Product and service
Exhibit 54: American Automobile Association Inc. - Key offerings
10.4 BCD Travel Services BV
Exhibit 55: BCD Travel Services BV - Overview
Exhibit 56: BCD Travel Services BV - Product and service
Exhibit 57: BCD Travel Services BV- Key news
Exhibit 58: BCD Travel Services BV - Key offerings
10.5 Booking Holdings Inc.
Exhibit 59: Booking Holdings Inc. - Overview
Exhibit 60: Booking Holdings Inc. - Business segments
Exhibit 61: Booking Holdings Inc.- Key news
Exhibit 62: Booking Holdings Inc. - Key offerings
Exhibit 63: Booking Holdings Inc. - Segment focus
10.6 Corporate Travel Management Ltd.
Exhibit 64: Corporate Travel Management Ltd. - Overview
Exhibit 65: Corporate Travel Management Ltd. - Product and service
Exhibit 66: Corporate Travel Management Ltd. - Key offerings
10.7 CWT Global BV
Exhibit 67: CWT Global BV - Overview
Exhibit 68: CWT Global BV - Product and service
Exhibit 69: CWT Global BV - Key offerings
10.8 Expedia Group Inc.
Exhibit 70: Expedia Group Inc. - Overview
Exhibit 71: Expedia Group Inc. - Business segments
Exhibit 72: Expedia Group Inc. - Key offerings
Exhibit 73: Expedia Group Inc. - Segment focus
10.9 Fareportal Inc
Exhibit 74: Fareportal Inc - Overview
Exhibit 75: Fareportal Inc - Product and service
Exhibit 76: Fareportal Inc - Key offerings
10.10 Flight Centre Travel Group Ltd.
Exhibit 77: Flight Centre Travel Group Ltd. - Overview
Exhibit 78: Flight Centre Travel Group Ltd. - Product and service
Exhibit 79: Flight Centre Travel Group Ltd. - Key offerings
10.11 GBT Travel Services UK Limited
Exhibit 80: GBT Travel Services UK Limited - Overview
Exhibit 81: GBT Travel Services UK Limited - Product and service
Exhibit 82: GBT Travel Services UK Limited- Key news
Exhibit 83: GBT Travel Services UK Limited - Key offerings
10.12 Travel Leaders Group LLC
Exhibit 84: Travel Leaders Group LLC - Overview
Exhibit 85: Travel Leaders Group LLC - Product and service
Exhibit 86: Travel Leaders Group LLC - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 87: Currency conversion rates for US$
11.3 Research methodology
Exhibit 88: Research Methodology
Exhibit 89: Validation techniques employed for market sizing
Exhibit 90: Information sources
11.4 List of abbreviations
Exhibit 91: List of abbreviations
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