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Global Business Travel Market to Reach $791.9 Billion by 2026

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New York, July 16, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Business Travel Industry” – https://www.reportlinker.com/p05899164/?utm_source=GNW
Comprising work, entertainment, accommodation and transportation, business travel is among the major contributors to the global economy. Employees of multinational organizations often travel to destinations in various countries for business and marketing purposes. There are a variety of agencies and travel companies in the market addressing the needs of the business travel industry, which compete based on safety measures, service portfolios, government licensing and pricing. Growth in business travel has provided organizations the option of managing travel requirements of their employees using travel programs, services and online self-booking tools offered by travel management corporations. Amid the COVID-19 crisis, the global market for Business Travel estimated at US$674.5 Billion in the year 2020, is projected to reach a revised size of US$791.9 Billion by 2026, growing at a CAGR of 3% over the analysis period. Food & Lodging, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$446.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Recreation segment is readjusted to a revised 2.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $231.4 Billion in 2021, While China is Forecast to Reach $48.8 Billion by 2026

The Business Travel market in the U.S. is estimated at US$231.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$48.8 Billion by the year 2026 trailing a CAGR of 5.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.

Business travel market worldwide is being fuelled by factors such as globalization of business operations, rising adoption of advanced technologies such as artificial intelligence, Internet of Things (IoT), and rising Internet penetration for enabling easy travel and bookings. Growth of the business travel industry is significantly influenced by the level of investments in public and private travel and tourism industry. This is because considerable investments are required to build the required infrastructure and facilities for expanding capacity, providing improved services and maintaining existing infrastructure. Global market for business travel, which is currently witnessing its worst phase due to the COVID-19 outbreak, has been over the years driven by initiatives to develop meetings, incentive, conferences and events (MICE) and small and medium sized enterprises (SME). The global business travel market is being significantly impacted by the advent of advanced technology solutions that help agents and their customers to book the most comfortable, economical and efficient option. Artificial intelligence (AI) in this regard has evolved as a latest technology for helping automate the process, and eliminating the need for physically attending various meetings or events, which is critical amidst the current pandemic. Though advanced technologies such as videoconferencing can prove a threat, increase in infrastructure investment and growth in travel retail market are expected to support the business travel industry.

Transportation Segment to Reach $122.7 Billion by 2026

In the global Transportation segment, USA, Canada, Japan, China and Europe will drive the 1.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$93.2 Billion in the year 2020 will reach a projected size of US$101.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.1 Billion by the year 2026, while Latin America will expand at a 1.8% CAGR through the analysis period.
Select Competitors (Total 70 Featured)

  • ADTRAV Corporation
  • Airbnb, Inc.
  • American Express Global Business Travel
  • BCD Travel
  • Booking Holdings Inc.
  • CWT
  • Egencia LLC
  • Fareportal, Inc.
  • Flight Centre Travel Group
  • FROSCH International Travel, Inc.
  • Ovation Travel Group
  • Travel Leaders Group, LLC
  • Wexas Travel

Read the full report: https://www.reportlinker.com/p05899164/?utm_source=GNW

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of COVID-19 Outbreak and Looming Global Recession
EXHIBIT 1: COVID-19 Impact on Travel & Tourism Industry: Growth
Rate (%) of Industry Revenues in Select Countries for 2020 Vs
2019
Digitalization Augurs Well for the Tourism Industry
Impact of COVID-19 on Business Travel in Life Sciences Sector
Pandemic to Transform Future Trends in the Business Travel
Industry
Business Travel Evolves into Multi-Faceted Endeavor
Global Market Prospects & Outlook
EXHIBIT 2: Major Purposes of Business Trips
Competition
Startups Disrupt the Business Travel Market
World Brands
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
Trends in Travel & Tourism: An Indication of Dynamics in
Business Travel Market
EXHIBIT 3: COVID-19 Impact on Tourism Industry: % Change in
International Tourist Arrivals by Region for 2019 and Q1 2020
Preference for Communications Technologies & Video Conferencing
Amidst COVID-19 Outbreak Over Travel Affects Business Travel
EXHIBIT 4: Global Downloads (Million) of Select Video Chat Apps
for iOS and Android for Jan-2020 to Mar-2020
EXHIBIT 5: Average Growth (in %) in Video Meetings by Meeting
Size for Feb 2020 Vs May 2020
Web Conferencing Emerges as an Apt Alternative to Business Travel
Mixing Recreation with Business: The New Mantra in Business Travel
EXHIBIT 6: Bleisure as % of Total Business Trips by Select
Countries: 2019
EXHIBIT 7: Average Number of Bleisure Trips Per Year by Select
Countries for 2019
EXHIBIT 8: Original Purpose of Bleisure Travel: % of Trips
Converted to Bleisure Trips by Purpose of Original Trip for
2019
EXHIBIT 9: Industries with Most Bleisure Travelers: % of
Bleisure Travelers by Industry
EXHIBIT 10: Major Reasons for Choosing a Bleisure Destination:
% of Bleisure Travelers Citing a Factor as a Reason for
Preferring a Destination among US Bleisure Travelers
Pandemic Accelerates Event Planning Industry?s Transition
towards Virtual Platforms, Affects Business Travels
Major Events Cancelled or Deferred or Conducted Virtually due
to COVID-19
EXHIBIT 11: COVID-19 Effect on Global Event Activities:
Estimated Percentage Change in Event Revenues for 1H 2020 over
1H 2019
Trade Volumes and Trade Wars Closely Correlated to Spending on
Business Travel
EXHIBIT 12: Month-on-Month Growth in Global Trade: Jan 2019-
April2020
Notable Trends in the Business Travel Industry
New Services Emerge as Competitors to Travel Management Companies
Using Business Travel to Enhance Employee Satisfaction
Bleisure Emerges as a Popular Business Travel Trend
Focus on Enhancing Customer Service
Rising Importance of Personalized Travel
Sustainability Emerges as a Notable Trend in Business Travel
Technological Advancements Augur Well for the Market
Rising Importance of Artificial and Machine Learning in
Business Travel
Mobile Devices Become Integral to Business Travel Industry
EXHIBIT 13: Smartphone Penetration Rate as Share of Total
Population: 2016-2021E
Downturn in Business Travel Dents Airline Revenues
EXHIBIT 14: COVID-19 Pandemic Dents Airline Revenues:
Commercial Airline Revenue Growth (in %) for 2010-2020E
EXHIBIT 15: Air Travel a Significant Component of Business
Travel Spending: Percentage Breakdown of Average Corporate
Trip Budget by Segment for 2019
EXHIBIT 16: Major Concerns of Business Travelers: % of Business
Travelers Citing the Concern Impeding Corporate Travel
Growth of SMEs Bodes Well for the Busines Travel Industry
Airport Retailers Target Business Travelers
EXHIBIT 17: Global Airport Retail Market Size (in US$ Billion)
for 2019, 2022 & 2024
Digitalization of Travel Payments & Guest Data Supports
Business Travel Market
Challenges Facing Business Travel Market
Data Breaches and Fraud Impact Business Travel

4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Business Travel by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 2: World Historic Review for Business Travel by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 3: World 15-Year Perspective for Business Travel by
Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets for Years 2012, 2020 & 2027

Table 4: World Current & Future Analysis for Food & Lodging by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 5: World Historic Review for Food & Lodging by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 and
% CAGR

Table 6: World 15-Year Perspective for Food & Lodging by
Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2012, 2020 & 2027

Table 7: World Current & Future Analysis for Recreation by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 8: World Historic Review for Recreation by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 and
% CAGR

Table 9: World 15-Year Perspective for Recreation by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027

Table 10: World Current & Future Analysis for Transportation by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 11: World Historic Review for Transportation by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 12: World 15-Year Perspective for Transportation by
Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2012, 2020 & 2027

Table 13: World Current & Future Analysis for Group by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 14: World Historic Review for Group by Geographic Region –
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 and
% CAGR

Table 15: World 15-Year Perspective for Group by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027

Table 16: World Current & Future Analysis for Solo by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 17: World Historic Review for Solo by Geographic Region –
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets – Independent Analysis of Annual
Sales in US$ Million for Years 2012 through 2019 and % CAGR

Table 18: World 15-Year Perspective for Solo by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027

Table 19: World Current & Future Analysis for Corporate by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 20: World Historic Review for Corporate by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 and
% CAGR

Table 21: World 15-Year Perspective for Corporate by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America, Middle East
and Africa for Years 2012, 2020 & 2027

Table 22: World Current & Future Analysis for Government by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027 and % CAGR

Table 23: World Historic Review for Government by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America, Middle East and Africa Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2012 through 2019 and
% CAGR

Table 24: World 15-Year Perspective for Government by
Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa for Years 2012, 2020 & 2027

III. MARKET ANALYSIS

UNITED STATES
US Travel & Tourism Industry Hit Hard by the COVID-19 Pandemic
EXHIBIT 18: US Travel Industry: Percentage Breakdown of
Spending by Business Travel and Leisure Spending for 2019
Table 25: USA Current & Future Analysis for Business Travel by
Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 26: USA Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 27: USA 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 28: USA Current & Future Analysis for Business Travel by
Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 29: USA Historic Review for Business Travel by Traveler –
Group and Solo Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 and % CAGR

Table 30: USA 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 31: USA Current & Future Analysis for Business Travel by
End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 32: USA Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 33: USA 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

CANADA
Table 34: Canada Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 35: Canada Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 36: Canada 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 37: Canada Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 38: Canada Historic Review for Business Travel by
Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 39: Canada 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 40: Canada Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 41: Canada Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 42: Canada 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

JAPAN
Table 43: Japan Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 44: Japan Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 45: Japan 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 46: Japan Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 47: Japan Historic Review for Business Travel by Traveler –
Group and Solo Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 and % CAGR

Table 48: Japan 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 49: Japan Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 50: Japan Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 51: Japan 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

CHINA
COVID-19 Impact on the Chinese Travel Industry
Table 52: China Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 53: China Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 54: China 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 55: China Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 56: China Historic Review for Business Travel by Traveler –
Group and Solo Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 and % CAGR

Table 57: China 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 58: China Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 59: China Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 60: China 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

EUROPE
COVID-19 Crisis Impacts European Travel Industry
Table 61: Europe Current & Future Analysis for Business Travel
by Geographic Region – France, Germany, Italy, UK, Spain,
Russia and Rest of Europe Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2020 through 2027 and %
CAGR

Table 62: Europe Historic Review for Business Travel by
Geographic Region – France, Germany, Italy, UK, Spain, Russia
and Rest of Europe Markets – Independent Analysis of Annual
Sales in US$ Million for Years 2012 through 2019 and % CAGR

Table 63: Europe 15-Year Perspective for Business Travel by
Geographic Region – Percentage Breakdown of Value Sales for
France, Germany, Italy, UK, Spain, Russia and Rest of Europe
Markets for Years 2012, 2020 & 2027

Table 64: Europe Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 65: Europe Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 66: Europe 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 67: Europe Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 68: Europe Historic Review for Business Travel by
Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 69: Europe 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 70: Europe Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 71: Europe Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 72: Europe 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

FRANCE
Table 73: France Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 74: France Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 75: France 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 76: France Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 77: France Historic Review for Business Travel by
Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 78: France 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 79: France Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 80: France Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 81: France 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

GERMANY
Table 82: Germany Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 83: Germany Historic Review for Business Travel by
Service – Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 84: Germany 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 85: Germany Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 86: Germany Historic Review for Business Travel by
Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 87: Germany 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 88: Germany Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 89: Germany Historic Review for Business Travel by
End-Use – Corporate and Government Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2012 through
2019 and % CAGR

Table 90: Germany 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

ITALY
Table 91: Italy Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 92: Italy Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 93: Italy 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 94: Italy Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 95: Italy Historic Review for Business Travel by Traveler –
Group and Solo Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 and % CAGR

Table 96: Italy 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 97: Italy Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 98: Italy Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 99: Italy 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

UNITED KINGDOM
Table 100: UK Current & Future Analysis for Business Travel by
Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 101: UK Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 102: UK 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 103: UK Current & Future Analysis for Business Travel by
Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 104: UK Historic Review for Business Travel by Traveler –
Group and Solo Markets – Independent Analysis of Annual Sales
in US$ Million for Years 2012 through 2019 and % CAGR

Table 105: UK 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 106: UK Current & Future Analysis for Business Travel by
End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 107: UK Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 108: UK 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

SPAIN
Table 109: Spain Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 110: Spain Historic Review for Business Travel by Service –
Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 111: Spain 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 112: Spain Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 113: Spain Historic Review for Business Travel by
Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 114: Spain 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 115: Spain Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 116: Spain Historic Review for Business Travel by End-Use –
Corporate and Government Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 117: Spain 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

RUSSIA
Table 118: Russia Current & Future Analysis for Business Travel
by Service – Food & Lodging, Recreation and Transportation –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 119: Russia Historic Review for Business Travel by
Service – Food & Lodging, Recreation and Transportation Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2012 through 2019 and % CAGR

Table 120: Russia 15-Year Perspective for Business Travel by
Service – Percentage Breakdown of Value Sales for Food &
Lodging, Recreation and Transportation for the Years 2012, 2020 &
2027

Table 121: Russia Current & Future Analysis for Business Travel
by Traveler – Group and Solo – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027 and % CAGR

Table 122: Russia Historic Review for Business Travel by
Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 123: Russia 15-Year Perspective for Business Travel by
Traveler – Percentage Breakdown of Value Sales for Group and
Solo for the Years 2012, 2020 & 2027

Table 124: Russia Current & Future Analysis for Business Travel
by End-Use – Corporate and Government – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027 and
% CAGR

Table 125: Russia Historic Review for Business Travel by
End-Use – Corporate and Government Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2012 through
2019 and % CAGR

Table 126: Russia 15-Year Perspective for Business Travel by
End-Use – Percentage Breakdown of Value Sales for Corporate and
Government for the Years 2012, 2020 & 2027

REST OF EUROPE
Table 127: Rest of Europe Current & Future Analysis for
Business Travel by Service – Food & Lodging, Recreation and
Transportation – Independent Analysis of Annual Sales in US$
Million for the Years 2020 through 2027 and % CAGR

Table 128: Rest of Europe Historic Review for Business Travel
by Service – Food & Lodging, Recreation and Transportation
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2012 through 2019 and % CAGR

Table 129: Rest of Europe 15-Year Perspective for Business
Travel by Service – Percentage Breakdown of Value Sales for
Food & Lodging, Recreation and Transportation for the Years
2012, 2020 & 2027

Table 130: Rest of Europe Current & Future Analysis for
Business Travel by Traveler – Group and Solo – Independent
Analysis of Annual Sales in US$ Million for the Years 2020
through 2027 and % CAGR

Table 131: Rest of Europe Historic Review for Business Travel
by Traveler – Group and Solo Markets – Independent Analysis of
Annual Sales in US$ Million for Years 2012 through 2019 and %
CAGR

Table 132: Rest of Europe 15-Year Perspective for Business
Travel by Traveler – Percentage Breakdown of Value Sales for
Group and Solo for the Years 2012, 2020 & 2027

Table 133: Rest of Europe Current & Future Analysis for
Business Travel by End-Use – Corporate and Government –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027 and % CAGR

Table 134: Rest of Europe Historic Review for Business Travel
by End-Use – Corporate and Government Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2012 through
2019 and % CAGR

Table 135: Rest of Europe 15-Year Perspective for Business

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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
Related Reports:
Customer Data Platform Market – Global Forecast to 2028
Speech Analytics Market- Global Forecast to 2029
Text to Video AI Market – Global Forecast to 2027
Contact Center Analytics Market- Global Forecast to 2027
Procurement Analytics Market- Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/risk-analytics-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/risk-analytics.asp
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Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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robotic-palletizer-market-worth-$1.9-billion-by-2029-–-exclusive-report-by-marketsandmarkets™

CHICAGO, April 19, 2024 /PRNewswire/ — The robotic palletizer market is projected to grow from USD 1.4 billion in 2024 and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Rising awareness towards workplace safety and reducing the risk of work-related injuries to drive the market. Robotic palletizers significantly enhance workplace safety and reduce the risk of work-related injuries and associated costs. By automating repetitive tasks like palletizing, businesses can redeploy their human workforce to higher-value activities that require human skills like problem-solving, critical thinking, and customer interaction. This allows them to optimize their workforce and leverage human capabilities more effectively.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251064253
Browse in-depth TOC on “Robotic Palletizer Market” 100 – Tables60 – Figures200 – Pages
Robotic Palletizer Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.4 billion
Estimated Value by 2029
$ 1.9 billion
Growth Rate
Poised to grow at a CAGR of 5.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Component, Robot Type, Application, End-use Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High initial investment cost
Key Market Opportunities
Increasing application in small and medium-sized enterprises
Key Market Drivers
Growing labor shortage and need for workforce optimization
 
Collaborative robots in the robot type segment are expected to witness higher growth rate during the forecast period.
Collaborative robots are expected to witness a higher CAGR during the forecast period. Unlike traditional industrial robots that often require physical barriers or cages to protect human workers, cobots are equipped with advanced safety features, such as force and torque sensors, collision detection, and speed monitoring. These features enable cobots to operate safely in proximity to humans without posing significant risks of injury.
The Pharmaceutical segment in the robotic palletizer market is expected to witness highest growth rate during the forecast period.
Pharmaceutical products are subject to strict regulations regarding storage, handling, and quality control. Robotic palletizers play a crucial role in providing greater precision and consistency in palletizing tasks and minimizing the risk of contamination within pharmaceutical manufacturing facilities. It also reduces human intervention in the handling and stacking of products and helps mitigate the potential for cross-contamination and ensures adherence to strict hygiene standards.
End-of-Arm- Tooling (EOAT) component is expected to witness the highest CAGR in the robotic palletizer market during the forecast period.
End-of-arm tooling (EOAT) is a crucial element of a robotic arm system, especially in applications like robotic palletizing, where the robot needs to interact with various objects or products. EOAT essentially acts as the hand of the robotic arm, designed to securely grasp, lift, and place boxes or cases onto pallets. Overall, EOAT plays a vital role in the effectiveness of robotic palletizers as it ensures secure handling of products, efficient palletizing patterns, and smooth operation of the entire system.
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North America is expected to hold the largest share of the robotic palletizer industry during the forecast period.
North America is home to major automobile and retail companies, which has accelerated the demand for robotic palletizers in this region. Additionally, the rise in manufacturing activity, fueled by plans for reshoring and technological improvements, has further driven the need for robotic palletizers. In North America, certain government funds are available to increase workplace safety. In 2023, the Occupational Safety and Health Administration announced a grant of approximately USD 12.7 million to 100 non-profit organizations across the nation to provide education and training for workers and employers about recognizing workplace hazards, injury prevention, and understanding workers’ rights and employers’ responsibilities under federal law. Businesses that use robotic palletizers may be eligible for funding as they lower the risk of worker injuries from manual lifting.
Key Players
Leading players in the robotic palletizer companies include FANUC CORPORATION (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), and Krones AG (Germany). Schneider Packaging Equipment Company, Inc. (US), Honeywell International Inc. (US), Kaufman Engineered Systems (US), Concetti S.p.A. (Italy), Sidel (France), Brenton, LLC. (US), A-B-C Packaging Machine Corporation (US), Antenna Group (Italy), BEUMER GROUP (Germany), Brillopak (UK), BW Integrated Systems (US), Columbia Machine, Inc. (US), Euroimpianti S.p.A. (Italy),  Fuji Yusoki Kogyo Co., Ltd. (Japan), HAVER & BOECKER OHG (Germany), KHS Group (Germany), MMCI  (US), Okura Yusoki Co., Ltd. (Japan), Rothe Packtech Pvt. Ltd. (India),  and S&R Robot Systems, LLC. (US) are few other key companies operating in the robotic palletizer market.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports & Consulting
Related Reports: 
Palletizer Market Size, Share, Statistics and Industry Growth Analysis Report by Technology (Conventional, Robotic), Product Type (Bags, Boxes and Cases, Pails and Drums), Industry (Food & Beverages, Chemicals, Pharmaceuticals, Cosmetics & Personal Care, E-commerce and Retail) & Region – Global Growth Driver and Industry Forecast to 2029
Autonomous Mobile Robots Market by Offering (Hardware, Software and Services), Payload Capacity (500 kg), Navigation Technology (Laser/LiDAR, Vision Guidance), Industry (Manufacturing, Retail, E-commerce) – Global Forecast to 2028
Automated Guided Vehicle Market Size, Share, Industry, Statistics & Growth by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance), Industry, Region – Global Forecast to 2028
Automated Storage and Retrieval System Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Vertical (Automotive, Food & Beverages, E-Commerce, Retail) – Global Forecast to 2028
Automated Material Handling Equipment Market Size, Share, Statistics and Industry Growth Analysis Report by Product (Robots, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, E-Commerce, Food & Beverage) and Region – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/robotic-palletizer-companies.aspContent Source: https://www.marketsandmarkets.com/PressReleases/robotic-palletizer.asp
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