Travel Risk Management Services Market Type of Services (Trip Authorization, Essential Tracking & Alerts, Interactive Communications, High Risk Tracking & Response, Advisory Services) End Users (Medium Size Enterprises, Large Enterprises) Service Providing Channel (Online, Offline) : Global Opportunity Analysis and Industry Forecast, 2020-2027
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A06585
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Jul 2020 |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Travel Risk Management Services Market
Request Now !Travel risk management services companies provide immediate and closely coordinated response anywhere to the customers related to travel bookings and security. The people travelling outside generally take package services before the trip. These service agencies provide proper training and educate their customers regarding the destination. Information about health issues, culture, vaccination, climatic condition, safety related to terrorism and mafias, etiquette the locals follow, and offer other necessary information to ensure travelers safety. There have been lot of political unrest in all parts of the world in last few years along with natural disaster, epidemics, and pandemics which has led people to opt more of these services. Moreover, travel risk management companies are adding trackers and interactive communication devices to the services for better customer safety.
Market scope and structure analysis:
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Report Metric |
Details |
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Market size available for years |
2020–2027 |
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Base year considered |
2019 |
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Forecast period |
2021–2027 |
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Forecast units |
Value ($US) |
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Segments covered |
Type, End Users, Service Providing Channel, and Region |
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Regions covered |
North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA) |
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Companies covered |
Anvil Group, BCD Travel, Healix, Carlson Wagonlit Travel, Kroll, Millbank Solutions, NC4, Focus Point International, Drum Cassac and Ovation Travel Group. |
COVID-19 Scenario Analysis:
- The increase in cases of COVID-19 worldwide has led many countries to shut international borders and airspace which has halted all the travelers and services provided by travel risk management companies.
- With the rise of pandemic these companies will get more business as people will start travelling abroad and need of proper education about the visiting country would be important to sustain the pandemic.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major drivers of the industry are increase in business travel of companies due to corporate relations, rise in crime and terrorism, and surge in diseases all over the world make the travelers unsafe and opt for the services by travel risk agencies to manage their travel experience. However, lack of awareness among company travelers and high cost service limit the growth of the travel risk management market. Contrarily, new devices and location trackers along with improved relations with government organizations boosts the industry growth.
The global travel risk management services market trends are as follows:
New product launches to flourish the market
Being a service industry with limited number of players, innovation and services are not much different. Focus Point consultancy agency provides fully integrated and intelligence driven services for corporate clients, government delicate travelers, and other clients. Focus point studies the countries their client visits, the current situation of the country, and provides investigation report on anti-bribery and corruption compliance.
Focus Point has specialized services regarding Medical Evacuation & Repatriation at majority tourist visiting countries, security evacuation in case of mishaps and traveler tracking specific through specific devices.
Key Segments Covered:
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Segments |
Sub-segments |
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Type of Services |
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End Users |
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Service Providing Channel |
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Key Benefits of the Report:
- This study presents the analytical depiction of the global travel risk management services industry 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 travel risk management services market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global travel risk management services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global travel risk management services market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Travel Risk Management Services Market Research Report:
- What are the leading market players active in the travel risk management services 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?
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Secondary research
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