[ad_1]
Stable economic growth and decreasing airfares, owing to the introduction of new airlines, are primarily driving the India business travel market.
SHERIDAN, WY, USA, November 15, 2022 /EINPresswire.com/ — The latest report published by IMARC Group, titled “India Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India business travel market size reached US$ 31.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 55.2 Billion by 2027, exhibiting a CAGR of 8.1% during 2022-2027.
Request a Free PDF Sample of the Report: https://www.imarcgroup.com/india-business-travel-market/requestsample
Business travel represents the journey that is undertaken for work and business purposes. It is generally paid for by the employer via the in-house travel departments or external service providers. In line with this, business travel usually includes a wide array of components, such as planning and booking, sourcing and procurement, account management, measuring and reporting, etc. In India, business travel facilitates cost tracking and control for organizations while helping employees adhere to corporate T&E policies and generating mass savings through negotiated discounts.
India Business Travel Market Trends:
Stable economic growth and decreasing airfares, owing to the introduction of new airlines, are primarily driving the India business travel market. Additionally, the growing penetration of high-speed internet connectivity, the introduction of various online travel agencies (OTAs), the emerging trend for leisure travel, continuous improvements in the hospitality, airline, and tourism industries, and the development of incentives, conferences, meetings, and events (MICE) segment are further catalyzing the market growth. Besides this, numerous tie-ups of corporate organizations with the leading business travel providers to offer customized collaborative spaces and team-building exercises are acting as significant growth-inducing factors. Moreover, the rising business activities in sectors, including healthcare, pharmaceuticals, manufacturing, etc., and the increasing partnership between businesses and airlines are also propelling the market growth across India. Apart from this, the elevating investments by public and private agencies for improving the travel infrastructures are augmenting the market growth. Furthermore, the inflating popularity of advanced technologies, such as robotics and virtual reality (VR), for offering personalized customer experiences is anticipated to fuel the India business travel market over the forecasted period.
Key Market Segmentation:
The report has segmented the India business travel market based on type, purpose type, expenditure, age group, service type, travel type, end user and region.
Breakup by Type:
• Managed Business Travel
• Unmanaged Business Travel
Breakup by Purpose Type:
• Marketing
• Internal Meetings
• Trade Shows
• Product Launch
• Others
Breakup by Expenditure:
• Travel Fare
• Lodging
• Dining
• Others
Breakup by Age Group:
• Travelers Below 40 Years
• Travelers Above 40 Years
Breakup by Service Type:
• Transportation
• Food and Lodging
• Recreational Activities
• Others
Breakup by Travel Type:
• Group Travel
• Solo Travel
Breakup by End User:
• Government
• Corporate
• Others
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Competitive Landscape With Key Players:
The competitive landscape of the India business travel market has been studied in the report with the detailed profiles of the key players operating in the market.
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=3457&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Browse Related Reports:
Latin America Business Travel Market Report
United States Business Travel Market Report
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here
[ad_2]
Source link
