NEW YORK, Nov. 30, 2021 /PRNewswire/ -- The travel market report offers information on several market vendors, including 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 among others. The travel market is set to grow by USD 451.19 billion at a CAGR of 13.86% from 2021 to 2026, according to the latest research report from Technavio.
41% of the market's growth will originate from APAC. China and Japan are the key markets for travel in APAC. The growing tourism industry will facilitate the growth of the travel market in APAC. The travel market share growth by the airline segment will be significant for revenue generation. With the improvement in the global economy, there has been simultaneous growth in the airline travel industries of many countries worldwide
The report on the travel market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
The travel market is driven by technological advances. The travel market relies on technologically advanced solutions that aid travel agents and their clients in accessing the travel data, comparing reservation options and booking the most efficient, economical, and comfortable option. The advances in artificial intelligence (AI) have helped automate the travel booking process, eliminating the need to reenter employee travel preferences and, in turn, saving time and energy.
The Travel Market is segmented by sector (airline, hotel, travel activities, and others) and geography (APAC, Europe, North America, South America, and MEA). This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
American Automobile Association Inc.
BCD Travel Services BV
Booking Holdings Inc.
Corporate Travel Management Ltd.
CWT Global BV
Expedia Group Inc.
Flight Centre Travel Group Ltd.
GBT Travel Services UK Limited
Travel Leaders Group LLC
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APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 41%
Key consumer countries
China, US, Germany, Japan, and UK
Leading companies, competitive strategies, consumer engagement scope
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
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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