Travel Market | Discover Top Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2022-2026
The travel market is expected to grow by $ 451.19 bn, accelerating at a CAGR of almost 13.86% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Travel Market: Segments and Leading Regions
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The Travel Market is segmented by Geography (APAC, Europe, North America, South America, and MEA).
- 41% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Travel Market size.
Travel Market: Top Trends, Drivers, Challenges to drive Market Recovery
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- A key market driver for the Travel Market will be technological advances.
- Growing social media penetration will be instrumental in driving the market growth during the forecast period.
- Health and safety risks associated with travel is a hurdle that needs to be crossed on the path to success.
Travel Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- 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.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 13.86%.
- What is the incremental growth of the market?
The market is expected to grow by $ 451.19 bn through 2022-2026.
- What is a key factor driving this market?
Technological advances will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
41% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are 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
- What are the market segments covered in this report?
The market is segmented by Geography (APAC, Europe, North America, South America, and MEA)