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Travel Management Industry Analysis
Spend growth of this market has the potential to touch a value of over USD 600 billion with spend momentum acceleration at a CAGR of more than 7% between 2019-2024. Travel management service providers are partnering with technology providers which, apart from improving their service, is sustaining cost savings with lower workforce requirements and limited management efforts by the stakeholders. This will contribute to spend growth in the travel management industry. However, the penetration of online travel agencies and complications faced during enforcement of travel policies and compliances will hinder spend growth in this industry.
Top Spending Regions in the Travel Management Industry
Expansion of business and the presence of robust civil aviation infrastructure are some of the factors that will drive spend momentum in the travel management industry across the key geographies.
High GDP growth across the APAC countries is inviting large business players to invest in the region. This is increasing the requirement and frequency of corporate travel which is driving airline companies to optimize air traffic routes and improve frequency of flights between major business routes. This is increasing scopes of travel management service providers in the region.
Increase in the demand for corporate travel is one of the major factors that is driving spend growth in the travel management industry in this region. The availability of robust domestic civil aviation infrastructure in mature markets is enabling high connectivity between major cities. The presence of this infrastructure is also facilitating a high level of comfort with reduced travel time and creating the scope for in-flight connectivity options. This is contributing to spend growth in the travel management industry in North America.
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Insights Offered in this Travel management Industry Report
Insights into Some of the Leading Travel Management Service Providers
The supply market dynamics hint at a substantial hike in suppliers' OPEX which will drive buyer's procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the travel management industry market. This travel management industry market procurement intelligence report has enlisted the top travel management service providers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top travel management service providers. The top service providers highlighted in this report include:
Criteria to select suppliers in this dynamic travel management industry market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
PART 01: EXECUTIVE SUMMARY
PART 02: MARKET INSIGHTS
PART 03: CATEGORY PRICING INSIGHTS
PART 04: COST-SAVING OPPORTUNITIES
PART 05: BEST PRACTICES
PART 06: CATEGORY ECOSYSTEM
PART 07: CATEGORY MANAGEMENT STRATEGY
PART 08: CATEGORY MANAGEMENT ENABLERS
PART 09: SUPPLIERS SELECTION
PART 10: SUPPLIERS UNDER COVERAGE
PART 11: US MARKET INSIGHTS
PART 12: CATEGORY DEFINITION
PART 13: APPENDIX
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.