$451.19 billion growth in travel market size with 41% contribution from APAC

Key market dynamics:

  • Market Driver: Technological advancements are likely to positively influence market growth. The travel market is driven by technologically advanced solutions that help travel agents and their customers access travel data, compare booking options, and book the most efficient, cost-effective, and most efficient option. comfortable. Additionally, advancements in artificial intelligence (AI) have helped automate the travel booking process, eliminating the need to re-enter employee travel preferences and therefore saving time and Energy. Moreover, with the increasing digitization of payments, the travel market is reaping maximum benefit as travel bookings and payments have become easy for businesses.
  • Market Challenge: The spread of COVID-19 globally since the first quarter of 2020 has hampered the growth of the global travel market. The COVID-19 outbreak has become a global health emergency and has prompted companies operating around the world to halt international and domestic business travel to stop the spread of the disease. The pandemic has also led to an increase in health screening formalities at airports, with delays and tighter checks, making employee travel cumbersome.

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Segmentation Information

This travel market research report covers in detail market segmentation by industry (airline, hotel, travel business and others) and by geography (APAC, Europe, North America, South Americaand MEA).

Revenue Generating Information: Growth in travel market share by airline segment will be significant during the forecast period. With the improvement in the global economy, there has been a simultaneous growth of airline industries in many countries around the world. The increase in the influx of air travelers has led to increased revenues and associated taxes, which, in turn, have contributed to economic development. This development is expected to continue during the forecast period due to the introduction of package tours such as tour packages.

Regional contribution: 41% of market growth will come from APAC during the forecast period. China and Japan are the key markets for Asia-Pacific travel. Market growth in this region will be faster than market growth in other regions. Growth in the tourism industry will facilitate the growth of the travel market in the APAC region over the forecast period.

See our sample report for additional information on the contribution of all segments and regional opportunities

Some companies mentioned

    • American Automobile Association Inc.
    • BCD Travel Services B.V.
    • Reservation Holdings Inc.
    • Corporate Travel Management Ltd.
    • CWT Global B.V.
    • Expedia Group Inc.
    • Fareportal Inc
    • Flight Center Travel Group Ltd.
    • GBT Travel Services UK Limited
    • Travel Leaders Group LLC
  • Access more vendor profiles with their key offerings and strategic initiatives, download a sample report

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Travel Market Scope

Report cover


Page number


Year of reference


Forecast period


Growth momentum and CAGR

Accelerate at a CAGR of 13.86%

Market Growth 2022-2026

$451.19 billion

Market structure


Annual growth (%)


Regional analysis

APAC, Europe, North America, South America and MEA

Successful market contribution

APAC at 41%

Main consumer countries

China, USA, Germany, Japan and UK

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

American Automobile Association Inc., BCD Travel Services BV, Booking Holdings Inc., Corporate Travel Management Ltd., CWT Global BV, Expedia Group Inc., Fareportal Inc, Flight Center Travel Group Ltd., GBT Travel Services UK Limited and Travel Leaders Group LLC

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID 19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

  • Summary
  • Market landscape
  • Market sizing
  • Five forces analysis
  • Market segmentation by sector
  • Customer landscape
  • Geographic landscape
  • Supplier Landscape
  • Vendor analysis
  • Annex

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