U.S. Corporate Travel Market Sizing and Trends
A Phocuswright Special Project
Corporate/managed travel has entered a new era with evolving business travel behavior and vast improvements and increased adoption of new technologies by travel companies. Growth in this sector is driven by mass adoption of smartphones by business travelers and online booking tools that have grown to be the dominant choice to make business travel bookings.
The U.S. managed/corporate travel segment represents about a third of all U.S. travel, which was US$119 billion in 2017. By 2022, managed corporate online travel spend will represent 86%. Further, spend for air and accommodation is set to grow by 3% CAGR through 2022.
For travel companies serving the corporate/managed travel sector, strategic focus has shifted to new technologies, cost reduction, well-being and risk mitigation. Technological priorities are on automation and integration of multiple data sources into one platform, plus simplifying the travel process for travelers – including payment and expense management.
Phocuswright is launching a refresh of its U.S. Corporate Market study to prepare the industry for the decade ahead. The research will uncover the size of the market and the way technology and trends are impacting the industry – for travelers, travel managers, suppliers and intermediaries. The insights from this Special Project will provide the backbone for shaping strategy and sound decision making.
Sponsor this Upcoming Research to Learn
- How to ensure travel policy reflects cost, traveler well-being and sustainability
- How to integrate all data sources into one platform ensuring end-to-end visibility and granular quality
- How suppliers' direct booking initiatives affect the market
- Who is ahead in the race: intermediaries or suppliers direct
- What can we do to save the planet (CO2 reporting, driving behavior)
- How are private rentals integrated in travel policy today
- How are intermediaries dealing with the changes (i.e., NDC, new entrants, supplier direct, etc.)
- How is the increasing importance of traveler experience being reflected across the landscape
Special Project Benefits and Core Areas of Focus
- Changes to policy
- Business traveler behaviors
- Supplier and intermediary offerings
- New technology
- Market sizing to develop key trends impacting the corporate travel landscape
- Intermediary landscape
- Segmentation of travel managers, suppliers and business travelers
Learn more about Phocuswright Special Projects:
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