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Allied Market Research

Group Travel Market Type (Leisure Group, Special Interest Group, High End Group, Incentive Travel) Sales channel (Travel Agencies, Tour Operators) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A10638
Pages: NA
Jun 2021 | 84 Views
 
Author(s) : Roshan Deshmukh
Tables: NA
Charts: NA
 

COVID-19

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The increasing demand of people in order to spend a quality time with their friends and family has given rise to group travel. One can save money and share experiences during the group travel. In order to reduce boredom during travel, people prefer group travels. It ensures more safety and enjoyment as compared to the solo travel. The increasing concern of people towards holidaying with a group of people possessing common interests is the key factor driving its market. Group travels are the occasions of get together of families and friends and they are helpful to get out of their comfort zones.Increase in the disposable income of people and the rising demands to explore new lands facilitates its growth.
 

Market scope and structure analysis

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2019

Forecast period

2021–2027

Forecast units

Value ($US)

Segments covered

Type,Sales channel and Region

Regions covered

  • North America (U.S., Canada,Mexico)
  • Latin America ( Brazil)
  • Western Europe (Germany, Italy, France, UK, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia- Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

Companies covered

Expedia Group,Booking Holdings,CWT,Travel Leaders Group,Direct Travel,Fareportal,Frosch,Omega World Travel,Travel Edge, and ATG,Adelman Travel

 

Covid-19 Scenario Analysis:

1)The outbreak has caused the tourism industry to suffer abruptly due to regulations in mass gatherings and lockdown, thishas caused decline in the economy as major portion of a nation’s economy is due to group travel market.

2)Due to increased rates of infection in the group travels, people are avoiding solo travels also. Thus, it resulted in the reduced demands for hotel industry also and is affecting the food and beverages industry and transportation also.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The increasing preference of people towards convenience products facilitates the group travel market. Due to the hectic schedules, people get less time to spend with their closed ones.Thus,they plan group travels to explore new places and also to spend their leisure time with the people with common interests.Also, there are different catchy schemes and discounts for the people with memberships and during special occasions. Group travel has multiple benefits like reduction in boredom, sharingexperiences, saving money and safety. Although, the risk of terrorism and disasters are the restraints in its growth. But the multiple benefits prove to be the key reasons for its growth.

New product launches to flourish the market

The availability of online booking has generated eminent traction in the market. The pre booking and discount schemes are responsible for the creation of target market.Also, there are companies who provide fun games during the leisure travels.Thus, the group travel market will result in high demands in the coming years.

Surge in usage due to various facilities

The group travel market has expanded in the recent years due to the availability of convenience. The comfort and different amenities provided help to create a customer base and generate revenue.

Key Segments covered:

Segments

Sub-segments

Type

  • Leisure Group
  • Special Interest Group
  • High End Group
  • Incentive Travel

 

Sales channel

  • Travel Agencies
  • Tour Operators

 

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia-Pacific
  • Japan
  • Middle East and Africa

Key Benefits of the Report:

  • This study presents the analytical depiction of the global group travel market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global group travel market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global group travel   market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global group travel market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the group travel market Research Report:

  • What are the leading market players active in the group travel   market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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