Global Travel Management Solution Market (2021-2026) by Deployment Type, Travel Type and Geography - Competitive Analysis, Impact of COVID-19, Ansoff Analysis

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%.

Market Dynamics

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.

Market Segmentation

The Global Travel Management Solution Market is segmented based on Deployment Type, Travel Type, and Geography.

• By Deployment Type, the market is classified into Cloud and On-Premises. The Cloud deployment contributes largest share of the market.
• By Travel Type, the market is classified into Corporate Travels and Personal Travel.
• By Geography, North America is projected to lead the market.

Recent Developments

1. 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.
2. 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.
3. In Apr 2019, Expensify has teamed up with Grab, Southeast Asia’s leading ridesharing company, to automate expense tracking and reimbursement from rideshares.

Company Profiles

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.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Travel Management Solution Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel within the industry.

The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.

The report also contains the competitive analysis using the Competitive Quadrant, the analyst's proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market