Dublin, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The "Global B2B Travel Market by Offering (Services, Solutions), End-User (Hotel Booking Portals, Online Travel Agencies, Tour Operators) - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The B2B Travel Market grew from USD 32.71 billion in 2023 to USD 36.94 billion in 2024. It is expected to continue growing at a CAGR of 13.27%, reaching USD 78.30 billion by 2030.
The B2B travel agencies design comprehensive customer travel experiences by leveraging a network of professional relationships and synchronized services. The growing need for enhanced business travel solutions and an increase in the number of travel agencies, tourism companies, and tour operators are accelerating the adoption of B2B travel services.
The adoption of B2B travel applications and online portals is increasing as it streamlines booking and management processes while providing real-time information to businesses. However, the limited availability of well-structured information systems coupled with technology issues that can cause inefficiencies in accessing accurate data and executing transactions smoothly may adversely impact the adoption of B2B travel services. Besides, integrating innovative features into B2B travel solutions can enhance user experience and encourage end-users to adopt B2B travel in the upcoming years.
Recent Developments
AVIAREPS and the Shanghai Government Launch B2B Platform "SmoothTravel" to Boost Global Business with the Chinese Travel Market
AVIAREPS, a global player in travel representation, in collaboration with the Shanghai Municipal Government, launched SmoothTravel, Shanghai's official online platform dedicated to B2B travel. This innovative platform facilitates seamless connections within the global travel sector, offering access to a wide network of Chinese travel agencies, tour wholesalers, online travel agencies (OTAs), and MICE agents focused on the East China market.
Sabre and Revolut Transform B2B Payments in Travel Industry with Successful Partnership
Sabre, a technology provider in the global travel industry, and the innovative fintech challenger bank Revolut collaborated to revolutionize travel agencies handling B2B payments. The collaboration marks a significant milestone, with over 40 customers benefiting from the integration. Travel agencies enjoy enhanced payment flexibility and security by seamlessly incorporating Revolut's virtual cards into the Sabre Virtual Payments platform. This integration facilitates streamlined payments to airlines, hotels, and other suppliers, marking a transformative step in the financial operations within the travel agency sector.
Travel Counsellors Acquires Planisto, a Travel Technology Platform
Travel Counsellors, a network of home-based travel advisers headquartered in Manchester, expanded its technological capabilities by acquiring Planisto, a B2B travel technology platform previously developed by EURAM. This strategic acquisition signals a significant enhancement for Travel Counsellors, as integrating Planisto's technology will empower their team to design and present highly intricate travel itineraries more intuitively and consumer-friendly. This move strengthens Travel Counsellors' position in the market by enriching their service offering and underscores their commitment to leveraging advanced technology to meet the sophisticated needs of today's travelers.
Regional Insights
The B2B travel market is evolving in the Americas due to rapid technological advancements, customer preferences, and increased demand for online travel services. In the Asia-Pacific (APAC) region, surging economic growth coupled with an increasing number of B2B travel businesses offering innovative services that cater to personalized demands is resulting in increased adoption of B2B travel services.
The EMEA region represents a diverse landscape for B2B travel companies due to significant investments in tourism infrastructure projects and the utilization of advanced technologies, such as AI and blockchain solutions, to manage corporate travel. Additionally, the B2B travel service providers emphasize delivering tailored leisure experiences while ensuring regulatory compliance and data security, which is anticipated to boost the adoption of B2B travel services worldwide.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $36.94 Billion |
| Forecasted Market Value (USD) by 2030 | $78.3 Billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Global |
Market Dynamics
Market Segmentation Analysis
- Offering: Penetration of significant offerings for B2B travel
- End-User: Expansive availability of the online travel agencies and hotel booking portals with the growing travel and tourism sector
Market Drivers
- Growing need for enhanced business travel solutions
- Increasing number of travel agencies, tourism companies, and tour operators
- Adoption of B2B travel applications and online portals
Market Restraints
- Limited availability of well-structured information systems and the associated technology issues
Market Opportunities
- Integration of innovative features in B2B travel solutions
- Significant investments to expand B2B services worldwide
Market Challenges
- Data security and privacy concerns associated with B2B travel solutions
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- Alternative Airlines Limited
- B2B Travel Agency India Pvt Ltd.
- Best Western International, Inc.
- Bonton Holidays (P) Ltd.
- Cozmo Travel LLC
- Dubai National Air Travel Agency by The Emirates Group
- Emerging Travel Group
- Europe Incoming Holdings Ltd.
- Expedia, Inc.
- FlightsLogic
- Globus Holidays
- Grand Australia Tours
- GRNconnect
- Hotelbeds Group, S.L.U
- Kalina Travel Platform
- LeEnticing Global
- MakeMyTrip
- Mystifly Global Consolidation & Technology Services Pte. Ltd.
- Provab Technosoft Pvt. Ltd.
- SOCCATOURS Switzerland GmbH
- TBO Holidays
- Technoheaven Consultancy Pvt. Ltd.
- TraveloPro
- Travelway Tourism & Shipping Ltd.
- Trawex Technologies Pvt Ltd.
- Trinity Air Travel and Tours Private Limited
- Turistico s.r.o.
Market Segmentation & Coverage
Offering
- Services
Solutions
- Data Analytics & Reporting Solutions
- Travel Booking Solutions
- Travel Management Solutions
End-User
- Hotel Booking Portals
- Online Travel Agencies
- Tour Operators
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/66ozwf
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