As per a recent market analysis by Future Market Insights (FMI), Managed Travel Distribution Market is poised to reach a valuation of US$ 91 Billion in 2022. Sales are projected to increase at a 10% CAGR, with the market size reaching US$ 236 Billion by 2032.
Systems like managed travel distribution are becoming more and more prevalent. As the number of new business travellers increases globally, there is an increasing need for organised and personalised travel planning. Technology advancement and digitalization have had an impact on the development of controlled travel distribution.
There are numerous possibilities for luxurious travel, and they are growing each time. The market for managed travel distribution is expanding consistently. Business travellers of today prefer the organised tours provided by managed travel distribution. Due to the widespread usage of smart phones, the managed travel distribution sector is rapidly evolving.
Managed travel distribution systems are becoming more and more common. Globally, there is an increasing demand for organised and customised travel planning due to the rise in new business travellers. The evolution of controlled travel distribution has been influenced by technological advancements and digitalization.
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There are many options for premium travel, and they are expanding. The managed travel distribution market is steadily growing. Today’s business travellers favour the planned excursions offered by managed travel distribution. Smart device adoption is rampant, which is causing the managed travel distribution industry to change quickly.
“Pandemic coming to the end and corporate sector looking to increase their business will make the Managed Travel Distribution Market Stable again“Says an FMI analyst.
Key Takeaways:
- By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~75%.
- Based on packages, Managed travelers will continue to opt for group tour deals over the normal travel deals.
- In terms of booking channel, online booking segment is estimated to account for the relatively highest value share in the Managed Travel Distribution Market as this mode of booking is very convenient.
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Impact of COVID-19 on the Market
Same as other sectors, the travel sector also got damaged at a great extent. Every business related to travel and tourism had to be shut down because of the rules and regulations imposed by lockdown. The managed distribution market majorly includes travellers from the corporate sector which was also impacted severely due to the pandemic.
This caused a fall in the economic status of the corporate sector too. Plans for the beginning of 2022 were hampered by the omicron version, but the second quarter is expected to witness a strong increase, putting trip spending above one-third of 2019 levels. All throughout the year, steady increases in transient corporate travel and event-driven travel are anticipated. Although there should be fewer obstacles to international travel, in 2022 there will be less cross-border excursions due to uncertainties about rules and worries about getting lost abroad.
Who is winning?
Leading players in Managed Travel Distribution market are Travel Leaders Group, Travel and Transport, BCD Travel, Expedia Inc., Global Business Travel, HRG Travel, Travel perk, Agencia among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of Managed Travel Distribution market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Managed Travel Distribution by Type (Customer Meetings, Clients’ Office Visit, Internal Meetings, Conferences, Others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years,56-65 Years, 66-75 Years) & Region – Forecast to 2017 – 2032.
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