Top 10 Companies in Travel Management Company (TMC) Market: Growth Trends, Key Players, and Outlook 2025–2031

Previous Topic Next Topic
 
classic Classic list List threaded Threaded
1 message Options
Reply | Threaded
Open this post in threaded view
|

Top 10 Companies in Travel Management Company (TMC) Market: Growth Trends, Key Players, and Outlook 2025–2031

raniwaghmare
Market Overview

global Travel Management Company (TMC) market was valued at US$ 23.67 billion in 2023 and is projected to reach US$ 35.47 billion by 2030, expanding at a CAGR of 5.4% from 2024 to 2030. A Travel Management Company (TMC) is a professional service provider that supports organizations in organizing and managing business travel. TMCs deliver services like itinerary planning, travel booking, cost optimization, compliance with corporate travel policies, and integration with airlines, hotels, car rentals, and other vendors.




Top Companies Driving the Market

Key players in this market include TravelPerk, AltexSoft, Corporate Travel Management (CTM), BCD Travel, Direct Travel, CWT, Navan, AMEX GBT (Egencia), and FCM Travel. In 2023, the top three vendors together accounted for nearly 22% of total global revenue. These companies provide innovative, tech-driven, and cost-effective solutions tailored to corporate travel demands.



Get FREE Sample of this Report at https://www.intelmarketresearch.com/download-free-sample/505/travel-management-company-tmc-market




Market Segmentation

By Type

Service

Software




By Service Type

Corporate Travel Management

Business Travel Planning

Expense Management

Risk Management & Travel Security

Consulting Services

Meetings & Event Management

Travel Insurance Services




By End User

Corporate Clients

Individual Business Travelers

Government Organizations




By Mode of Travel

Domestic Travel

International Travel




By Application

Large Enterprises

SMEs

Government and NGO




Regional Coverage

North America (United States, Canada, Mexico)

Europe (Germany, France, United Kingdom, Italy, Spain)

Asia-Pacific (China, India, Japan, South Korea, Australia)

Middle East and Africa

South and Central America (Brazil, Argentina)




Recent Developments

DOJ Blocks Major Merger in TMC Market
In January 2025, U.S. Department of Justice filed a lawsuit to stop a US$ 570 million merger between American Express Global Business Travel Group and CWT Holdings, citing anti-competitive concerns.

CTM Expands Reach in Latin America
In February 2025, Corporate Travel Management added Colombian agency Trafalgar Tours to its global network and appointed Darren Toohey as Chief Sales & Customer Officer to strengthen client engagement.

Serko Acquires GetThere from Sabre
New Zealand-based Serko completed a US$ 12 million acquisition of GetThere in January 2025, with a US$ 100 million investment plan over three years to build a next-gen AI-powered travel platform.

Inside Travel Group Gains Cultural Investment
In November 2024, Inside Travel Group secured a £10 million investment each from Cool Japan Fund and Piper to enhance Japanese cultural travel offerings and expand in Asia.

CTM Recognized as Strategic Growth Opportunity
In November 2024, CTM was highlighted by IFM Investors for its resilience post-pandemic and long-term potential, supported by proprietary technology and government contracts.




Market Drivers

Rising Demand for Corporate Travel Management
Enterprises seek professional services to reduce travel costs, ensure policy compliance, and improve traveler experiences.

Adoption of Advanced Technologies
AI, machine learning, and analytics enhance booking efficiency, automate reporting, and optimize expenses.

Globalization of Businesses
Cross-border operations drive demand for TMCs to handle visa support, multi-currency transactions, and localized services.

Cost Optimization Focus
TMCs provide real-time insights and negotiated vendor rates to help organizations cut travel expenses.

Employee Safety and Duty of Care
Companies are prioritizing traveler safety, turning to TMCs for support in crisis response and travel risk management.




Restraints

Economic Instability and Budget Cuts
Recessions or budget tightening can significantly impact corporate travel spending, reducing demand for TMC services.

Rise of DIY Travel Platforms
The availability of easy-to-use online tools gives businesses alternatives to traditional TMCs, especially small enterprises.

Challenges with Technology Integration
Smaller players may struggle to adopt and integrate new technologies due to limited resources and expertise.

Post-Pandemic Travel Reduction
The shift toward virtual meetings and remote work during COVID-19 continues to impact physical travel volumes.




Opportunities

Hybrid Work Driving New Travel Needs
As remote teams increasingly meet in person, demand grows for coordinated travel and event planning services.

Expansion in Emerging Economies
Business growth in Asia-Pacific, Africa, and Latin America is fueling demand for regional TMC support.

Sustainability-Focused Services
TMCs can capitalize on the demand for eco-friendly travel options, carbon tracking, and sustainable itineraries.

Personalized Travel Experiences
AI-driven analytics allow TMCs to customize travel services for individual employees and departments.

Travel Risk Integration
TMCs can expand offerings by integrating real-time alerts, emergency support, and travel insurance into core services.




Challenges

Rapid Technological Evolution
Keeping up with innovations in travel tech requires continual investment and expertise, posing difficulties for smaller firms.

Compliance with Travel Regulations
Changing visa requirements, tax implications, and COVID-era policies make regulatory compliance a complex issue.

Balancing Cost and Quality
Corporate clients seek both affordability and high service quality, putting pressure on providers to innovate without raising costs.

Customer Retention Amid Competition
Client loyalty is a challenge due to the increasing number of providers offering similar services at competitive prices.




Get the Complete Report & TOC at https://www.intelmarketresearch.com/consumer-goods-and-services/505/travel-management-company-tmc-market

CONTACT US:
276 5th Avenue, New York , NY 10001,United States
International: (+1) 646 781 7170
Email: help@intelmarketresearch.com

Follow Us On linkedin :- https://www.linkedin.com/company/24-market-reports




Related URL

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-rose-wine-market.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-photosensitive.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-neutron-absorber.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-mid-infrared.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-industrial-mixing.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-vitamin-b9-folic.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-synthetic-calcium.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-hemispherical.html

https://24marketresearchrani.blogspot.com/2025/06/top-10-companies-in-tpu-yarn-market.html