DUBLIN, Aug. 3, 2021 /PRNewswire/ — The “Global Travel Management Solution Market (2021-2026) by Deployment Type, Travel Type and Geography – Competitive Analysis, Impact of COVID-19, Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Travel Management Solution Market is estimated to be worth USD 42.6 Billion in 2021 and is expected to reach USD 70.1 Billion by 2026, growing at a CAGR of 10.86%.
The market is driven by increasing globalization, rising adoption of managed travels by small companies and technology adoption coupled with tie-up and consolidation of travel management companies.
On the other hand, the volatility in average ticket price due to complex pricing strategies and limited effective price regulations in air travel are some of the factors that are restraining the growth of the market.
The introduction of enhanced corporate booking tools & on-the-go mobile app and growing demand from APAC region have created opportunities for the market.
Transaction security challenges and other privacy concerns are big challenges in front of the market.
In Jan 2019, Expensify, the most widely used expense software in the world, and TripActions, the fastest-growing corporate travel platform, announced a strategic partnership to gain a comprehensive business travel experience.
In March 2019, Certify and Chrome River Technologies, two global leaders in travel, expense, and invoice management software, have merged in a transaction valued at over $1 billion.
In Apr 2019, Expensify has teamed up with Grab, Southeast Asia’s leading ridesharing company, to automate expense tracking and reimbursement from rideshares.
Some of the companies covered in this report are Airbnb, inc, Certify Inc., Chrome River Technologies, Coupa Software, Inc., Egencia LLC, Expensify, Inc, FCM Travel Solutions, Infor, Inc., SAP Concur, etc.
Key Topics Covered:
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.2 Market Dynamics
184.108.40.206 Increasing Globalization
220.127.116.11 Rising Adoption of Managed Travels by Small Companies
18.104.22.168 Technology Adoption Coupled With Tie-Up and Consolidation of Travel Management Companies
22.214.171.124 Volatility in Average Ticket Price Due To Complex Pricing Strategies
126.96.36.199 Limited Effective Price Regulations in Air Travel
188.8.131.52 Introduction of Enhanced Corporate Booking Tools and On-The-Go Mobile App
184.108.40.206 Growing Demand from APAC Region
220.127.116.11 Transaction Security and Privacy Concerns
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Travel Management Solution Market, By Deployment Type
7 Global Travel Management Solution Market, By Travel Type
7.2 Corporate Travel
7.3 Personal Travel
8 Global Travel Management Solution Market, By Geography
8.2 North America
8.3 South America
8.4.6 Rest of Europe
8.5.6 South Korea
8.5.9 Rest of APAC
8.6 Rest of the World
8.6.2 Saudi Arabia
8.6.3 South Africa
8.6.4 United Arab Emirates
8.6.5 Latin America
9 Competitive Landscape
9.1 Competitive Quadrant
9.2 Market Share Analysis
9.3 Competitive Scenario
9.3.1 Mergers & Acquisitions
9.3.2 Agreement, Collaborations, & Partnerships
9.3.3 New Product Launches & Enhancements
9.3.4 Investments & Funding
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ivoc3y
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets