U.S. Corporate Travel Report: Market Sizing and Technology Trends

U.S. Corporate Travel Report: Market Sizing and Technology Trends Published May 2012 Analysts: David Juman, Susan Steinbrink

 

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While the U.S. corporate travel market fell the fastest and hardest during the recession (down 26% in 2009), the sector also bounced back more quickly than any other. Following consecutive years of strong double-digit growth, the corporate market has recovered to pre-recession levels. Despite its quick rebound, however, the industry is still in the midst of major transformation. In addition to an economic climate that remains shaky, a number of fundamental shifts are influencing how business travel will be conducted in the future.

Phocuswright's U.S. Corporate Travel Report: Market Size and Technology Trends provides a comprehensive view of the state of the managed travel sector in the U.S. It includes complete market sizing and forecasts, along with the key metrics and dynamics that will shape the arena through 2013. The report also identifies a range of technology-centered trends that are significantly impacting the corporate travel distribution landscape, including mobile usage, social media and digital cash. Data and analysis in the report are based on surveys conducted with over 150 travel managers in the U.S., and executive interviews with a range of leading players in the corporate travel space.

Key topics include:

  • Corporate travel market sizing (with projections through 2013), including proportion of total U.S. travel market and comparison to leisure/unmanaged business travel
  • Online penetration and the use of online booking tools in the corporate travel marketplace
  • Intermediary versus supplier-direct bookings, with projections through 2013
  • Corporate travel spend across key expense categories – air, hotel, car rental and rail – along with key priorities through 2012
  • Most common elements prescribed by corporate travel policy, and the impact of technology on policy components
  • Key U.S. corporate travel technology trends, including: IT consumerization; traveler engagement; extended personalization; brand drafting; impact of smartphones, location-based services and tablets; digital cash and more

With its detailed assessment of the U.S. corporate travel landscape – including market sizing, analysis and technology trends – this report is an essential resource. Purchase Phocuswright's U.S. Corporate Travel Report: Market Size and Technology Trends today.

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  • Introduction
    • Definitions
    • Methodology
    • Key Findings
  • Size of the Market
    • The Total U.S. Travel Market
    • U.S. Corporate Travel
    • Online Penetration
    • Intermediaries vs. Supplier-Direct
    • Corporate Travel Spend and Priorities
    • Online Booking Tools
  • Key U.S. Corporate Travel Technology Trends
    • Traveler Engagement – Game On!
      • Key Drivers
      • Strategic Impacts
    • Getting Personal – Traveler Centricity 3.0
      • Key Drivers
      • Strategic Impacts
    • Brand Drafting
      • Key Drivers
      • Strategic Impacts
    • Smart Revolution – Thinking Inside the Box
      • Smartphone Surge
      • Tablet Takeover
      • Location-Based Services – Mobile’s “Secret Sauce”
      • Key Drivers
      • Strategic Impacts
    • App-Solute Advantage
      • Key Drivers
      • Strategic Impacts
    • Digital Cash
      • Key Drivers
      • Strategic Impacts

This report sizes the total corporate travel market in the U.S. and includes bookings made through online and offline channels, including supplier-direct and intermediary methods such as a TMC or GDS. While quite small, mobile figures are also captured (where reported) as part of online figures. Market sizing figures exclude fees associated with ancillary services (e.g., hotel upgrades, Wi-Fi, baggage fees). Corporate travel spend is represented in gross travel value (US$B) and defined as U.S. supplier (air, car and hotel) bookings generated from transient or managed business travelers. It includes travel purchases made both within and outside of policy (rogue). Miscellaneous expenses such as parking, ground transportation and meals are not included in corporate travel gross booking figures. Total U.S. market size figures, retrieved from Phocuswright’s U.S. Online Travel Overview Eleventh Edition, also omit these miscellaneous expenses.

Corporate travel spend estimates and projections are compiled from U.S. supplier revenue, industry interviews with travel providers, and data from a web-based Phocuswright survey completed in summer 2011 with 170 corporate travel buyers (Phocuswright’s Corporate Travel Manager Survey). While survey respondents had oversight of their firms’ U.S. travel budgets, some were responsible for other geographic regions of travel spend. To understand current and changing market dynamics and shifts in spend, Phocuswright interviewed more than 45 decision-makers at travel management, technology (e.g., itinerary management, mobile), supplier, GDS, corporate card and expense management companies in 2011. While discussions centered on the use and value of web-based tools, respondents were interviewed about their overall business strategies, travel buyer and traveler requirements, the influence of consumer technology, and the corporate travel marketplace in general.

This report contains actual figures for 2008-2010 and estimates and forecasts for 2011-2013.

US $1,995 
CA $2,639 • £1,543 • €1,762
FREE for Open Access Subscribers
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