Travel Management Services Market Report 2025 (Global Edition)

Global Travel Management Services Market Report 2025 Market Size Split by Type (Airline Travel Bookings, Tour and Packaged Travel Bookings, Accommodation Bookings, Cruise Bookings, Car Rental, Busines...

Travel Management Services Market Report Description

We have various report editions of Travel Management Services Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Travel Management Services Market

The competitive landscape of the travel management services market is characterized by intense rivalry among service providers vying for market share. Key factors include technological innovation, service quality, pricing strategies, and geographical reach. Differentiation through unique offerings and customer-centric solutions is crucial for sustaining competitive advantage.

In October 2021, American Express Global Business Travel unveiled the launch of two new features within Neo for its clients in Spain. This enhancement enables Neo users in the country to conveniently submit certified digital expense reports for travel reimbursement and book Renfe rail tickets directly through the platform. These additions provides end-to-end solution for travel booking and expense management, thereby enhancing their overall experience.

(Source: https://www.amexglobalbusinesstravel.com/press-room/american-express-global-business-travel-launches-new-neo-features-for-spain/)    

Top Companies Market Share in Travel Management Services Industry: (In no particular order of Rank)

• American Express Global Business Travel
• Booking Holdings
• Corporate Travel Management
• CWT
• Expedia Group
• Flight Centre Travel Group
• Kesari Tours Pvt Ltd
• MakeMyTrip Ltd
• TripAdvisor
• TUI Group
• Yatra Online Inc
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Travel Management Services Market

Which Region Will Dominate the Travel Management Services Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to several factors. Firstly, the region boasts a robust economy, with numerous multinational corporations necessitating extensive business travel. Secondly, technological advancements and widespread adoption of travel management solutions drive demand. Additionally, North America's diverse tourism offerings attract leisure travellers, further fueling sales. Lastly, stringent corporate travel policies and compliance regulations mandate the use of travel management services, ensuring sustained demand and revenue growth.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is the fastest-growing region owing to various reasons. Rapid economic development across countries like China and India drives corporate expansion and increases business travel needs. Moreover, the rising middle-class population in the region is fueling a surge in leisure travel demand. Additionally, the adoption of digital technologies and online booking platforms is accelerating, enhancing accessibility and convenience for travellers. Furthermore, government initiatives promoting tourism and infrastructure development contribute to the region's growth trajectory in the travel management services market.

The current report Scope analyzes Travel Management Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Travel Management Services Market

According to Cognitive Market Research, the global travel management services market size was estimated at USD 600815.2 Million out of which North America held the major market of around 40% of the global revenue with a market size of USD 240326.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031due to several factors. Firstly, the region's robust economy drives corporate expansions and business travel demand. Secondly, technological advancements and the widespread adoption of digital solutions enhance efficiency and convenience for travellers. Additionally, the emphasis on corporate governance and compliance mandates the use of professional travel management services. Moreover, the region's diverse tourism offerings attract leisure travellers, further boosting sales. With the highest market share segment being "Airline Travel Bookings," North America's well-developed airline industry and extensive network of routes ensure continued growth in this segment.

Country Analysis

• According to Cognitive Market Research, The United States travel management services market had a market share of USD 189,617.28 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Sales of travel management services in the U.S. will increase due to robust corporate travel demand, driven by economic growth and technological advancements, alongside rising leisure travel preferences and government initiatives promoting tourism.
• Canada travel management services market had a market share of USD 28,839.13 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Increasing corporate expansions and business travel needs, coupled with growing emphasis on compliance and safety standards, will drive the sales of travel management services in Canada.
• Mexico travel management services market had a market share of USD 21,869.67 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period.

 

Europe Travel Management Services Market

According to Cognitive Market Research, with a market value of USD 600815.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. Europe accounted for a share of around 30% of the global market size of USD 180244.56 million due to various reasons. Firstly, the region's extensive network of multinational corporations necessitates efficient business travel solutions. Secondly, the emphasis on sustainability drives demand for eco-friendly travel options and responsible tourism practices. Additionally, the rise of experiential travel fuels demand for personalized leisure travel services. Moreover, the integration of technology enhances the booking experience and streamlines travel management processes. With "Accommodation Bookings" being the highest market share segment, Europe's rich cultural heritage and diverse lodging options ensure sustained growth in this segment.

• The United Kingdom travel management services market had a market share of USD 30,281.09 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. The UK's strong business landscape, coupled with increasing globalization, technological innovation, and a focus on sustainable travel practices, will contribute to the growth of travel management services sales.
• France travel management services market had a market share of USD 16,582.50 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period.
• Germany travel management services market had a market share of USD 35,688.42 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. Germany's thriving economy, extensive corporate network, and emphasis on efficiency and compliance will drive demand for travel management services, along with increasing interest in eco-friendly and personalized travel experiences.
• Italy travel management services market had a market share of USD 15,501.03 million in 2024 and is projected to grow at a CAGR of 6.9% during the forecast period.
• Russia travel management services market had a market share of USD 27,937.91 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period.
• Spain travel management services market had a market share of USD 14,780.05 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period.
• Luxembourg travel management services market had a market share of USD 5,587.58 million in 2024 and is projected to grow at a CAGR of 7.6% during the forecast period.
• Portugal travel management services market had a market share of USD 3,785.14 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period.
• Greece travel management services market had a market share of USD 2,162.93 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period.
• Rest of Europe travel management services market had a market share of USD 27,937.91 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period.

 

Asia Pacific Travel Management Services Market

According to Cognitive Market Research, the global travel management services market size was estimated at USD 600815.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 138187.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031due to several factors. Firstly, rapid economic development drives corporate expansions and increases business travel needs. Secondly, the region's burgeoning middle-class population fuels demand for leisure travel services. Additionally, technological advancements and the growing penetration of internet services enhance accessibility and convenience for travellers. Moreover, government initiatives promoting tourism and infrastructure development contribute to market growth. With "Cloud-Based" as the highest market share segment, Asia Pacific's focus on technological innovation and scalability ensures robust growth in this segment.

• According to Cognitive Market Research, China travel management services market had a market share of USD 62,184.37 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Rapid economic growth, booming business travel demands, technological advancements, and government initiatives promoting tourism will fuel the sales of travel management services in China.
• Japan travel management services market had a market share of USD 19,069.87 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period.
• India travel management services market had a market share of USD 16,582.50 million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period. India's growing corporate sector, expanding middle-class population, increasing adoption of digital solutions, and government efforts to boost tourism will drive the sales of travel management services.
• South Korea travel management services market had a market share of USD 13,818.75 million in 2024 and is projected to grow at a CAGR of 10.1% during the forecast period.
• Australia travel management services market had a market share of USD 7,185.75 million in 2024 and is projected to grow at a CAGR of 10.7% during the forecast period.
• South East Asia travel management services market had a market share of USD 9,534.94 million in 2024 and is projected to grow at a CAGR of 12.0% during the forecast period.
• Rest of Asia Pacific travel management services market had a market share of USD 9,811.31 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period.

 

South America Travel Management Services Market

According to Cognitive Market Research, the global travel management services market size was estimated at USD 600815.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 30040.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031. Firstly, the region's improving economic conditions drive corporate investments and business travel demand. Secondly, the growing emphasis on safety and security boosts demand for risk management solutions. Additionally, the region's diverse landscapes and cultural attractions attract leisure travellers, stimulating demand for personalized travel services. Moreover, technological advancements enhance the efficiency of travel management processes. With "Business Travellers" as the highest market share segment, Latin America's expanding business landscape ensures sustained growth in this segment.

• According to Cognitive Market Research, Brazil travel management services market had a market share of USD 12,857.45 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Brazil's improving economic conditions, expanding corporate sector, and growing emphasis on safety and convenience in travel, alongside the allure of its diverse tourism offerings, will drive sales growth in the country.
• Argentina travel management services market had a market share of USD 5,046.85 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. Argentina's economic recovery, rising business travel demands, emphasis on sustainable tourism practices, and government support for tourism development will contribute to the growth of travel management services sales.
• Colombia travel management services market had a market share of USD 2,673.63 million in 2024 and is projected to grow at a CAGR of 8.2% during the forecast period.
• Peru travel management services market had a market share of USD 2,463.34 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period.
• Chile travel management services market had a market share of USD 2,162.93 million in 2024 and is projected to grow at a CAGR of 8.7% during the forecast period.
• Rest of Latin America travel management services market had a market share of USD 4,836.56 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period.

Middle East and Africa Travel Management Services Market

According to Cognitive Market Research, the global travel management services market size was estimated at USD 600815.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 12016.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031. Firstly, the region's strategic location and growing prominence as a business hub drive corporate travel demand. Secondly, increasing investments in infrastructure and tourism development bolster leisure travel opportunities. Additionally, the region's focus on luxury and experiential travel attracts high-end tourists, boosting demand for premium travel services. Moreover, the adoption of digital solutions enhances the efficiency of travel management processes. With "Corporate Travellers" as the highest market share segment, the MEA region's thriving business environment ensures continued growth in this segment.

• According to Cognitive Market Research, GCC Countries travel management services market had a market share of USD 5,142.98 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. The GCC's thriving business landscape, increasing corporate events and exhibitions, focus on luxury travel experiences, and government investments in tourism infrastructure will drive sales growth in travel management services.
• Egypt travel management services market had a market share of USD 1,261.71 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period.
• South Africa travel management services market had a market share of USD 1,898.58 million in 2024 and is projected to grow at a CAGR of 9.7% during the forecast period. South Africa's growing corporate sector, expanding tourism industry, adoption of technology-driven solutions, and focus on promoting travel safety and convenience will drive sales growth in travel management services.
• Turkey travel management services market had a market share of USD 1,033.40 million in 2024 and is projected to grow at a CAGR of 8.2% during the forecast period.
• Nigeria travel management services market had a market share of USD 1,261.71 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period.
• Rest of MEA travel management services market had a market share of USD 1,417.92 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period.

 

Travel Management Services Market Analysis

Travel Management Services Market Type Segment Analysis

According to Cognitive Market Research, airline travel bookings held the major market share over the forecast period due to several factors. The growing globalization of businesses necessitates frequent air travel for corporate meetings and collaborations. Additionally, increasing disposable income levels and a rising preference for air travel among leisure travellers contribute to the segment's growth. Furthermore, advancements in airline booking systems and the availability of competitive pricing options drive higher adoption rates among both business and leisure travellers.

Accommodation bookings are the fastest-growing category over the forecast period. This growth is fueled by the expanding tourism industry and increasing travel activities worldwide. Additionally, the rise of online travel agencies and accommodation booking platforms provides travellers with a wide range of options and convenience in making reservations. Furthermore, the trend towards experiential travel and unique accommodations drives demand for diverse lodging options, further propelling the growth of this segment.

• Airline Travel Bookings
• Tour and Packaged Travel Bookings
• Accommodation Bookings
• Cruise Bookings
• Car Rental
• Business Performance Management and Financial Management
• Hosting Service

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Travel Management Services Industry. Request a Free Sample PDF!

Travel Management Services Market Application Segment Analysis

According to Cognitive Market Research, company hold a prominent market share due to various factors. Corporate expansions and globalization necessitate extensive business travel, driving demand for travel management services. Additionally, companies prioritize the safety, efficiency, and cost-effectiveness of their travel arrangements, leading them to rely on professional travel management solutions. Furthermore, corporate travel policies often mandate the use of designated travel agencies, ensuring a steady stream of sales for this segment.

Personal is the fastest-growing category over the forecast period. This growth is fueled by increasing discretionary income levels, allowing individuals to indulge in leisure travel. Moreover, the desire for unique travel experiences and exploration of new destinations drives demand for personalized travel services. Additionally, advancements in technology and the availability of user-friendly online booking platforms make it easier for individuals to plan and book their personal travel, further boosting sales in this segment. 

• Personal
• Group
• Company
• Government

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Travel Management Services Technology Segment Analysis

According to Cognitive Market Research, cloud-based hold a prominent market share due to various factors. The scalability and flexibility offered by cloud-based platforms appeal to businesses of all sizes, driving adoption. Additionally, the ease of access and real-time updates provided by cloud solutions enhance user experience and operational efficiency. Moreover, the cost-effectiveness and reduced IT infrastructure requirements associated with cloud-based systems attract organizations seeking streamlined and budget-friendly travel management solutions.

Hybrid is the fastest-growing category over the forecast period. This trend is driven by the increasing demand for customizable and flexible solutions that combine the benefits of both on-premise and cloud-based systems. Hybrid solutions offer organizations the flexibility to tailor their travel management approach according to their specific needs and preferences. Additionally, hybrid models provide enhanced data security and compliance while leveraging the scalability and accessibility advantages of cloud technology, driving adoption in the market.

• Cloud-Based
• On-Premise
• Hybrid

Travel Management Services End-User Segment Analysis

According to Cognitive Market Research, business travellers hold a prominent market share due to several factors. The globalization of businesses necessitates frequent travel for meetings, conferences, and client engagements, driving demand for efficient travel management solutions. Additionally, stringent corporate travel policies mandate compliance, leading companies to invest in professional travel services. Moreover, the integration of technology enhances convenience and productivity for business travellers, further fueling sales in this segment.

Leisure travellers is the fastest-growing category over the forecast period. Increasing disposable income levels allow individuals to prioritize travel experiences, driving demand for leisure-focused travel management solutions. Moreover, the desire for unique and personalized travel experiences fuels the demand for tailored services catering to leisure travellers' preferences and interests. Additionally, advancements in technology make it easier for leisure travellers to research, plan, and book their trips, contributing to the segment's growth.

• Leisure Travelers
• Business Travelers
• Corporate Travelers

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

LinkedIn

Profile

Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion