According to a new report, published by KBV research, The Global Travel Risk Management Services Market size is expected to reach $188.9 billion by 2030, rising at a market growth of 8.1% CAGR during the forecast period.
The Crisis Management segment is showcasing a CAGR of 8.5% during (2023 - 2030). Effective crisis management strategies can help mitigate risks and reduce the impact of crises. This proactive approach is attractive to organizations seeking to minimize operational disruptions and safeguard travelers. Travel risk management services often provide risk assessments and intelligence to help organizations make informed decisions about travel plans and destinations. Crisis management services are crucial during a crisis's response and recovery phases. Providers help in locating and evacuating travelers, providing medical care, and ensuring their safe return home.
The Large Enterprises segment is leading the Global Travel Risk Management Services Market by Enterprise Size in 2022 thereby, achieving a market value of $109.3 BAillion by 2030. Large enterprises have a legal and moral obligation to provide a safe and secure environment for their employees when they are traveling for work. Travel risk management services help organizations fulfill their duty of care responsibilities by offering comprehensive safety measures and support in emergencies. These services help enforce travel policies and guidelines, ensuring that employees adhere to company standards and protocols during their trips. This can help reduce risky behaviors and non-compliance issues.
The IT, Technology & Telecom segment has shown the high growth rate of 7.6% during (2023 - 2030). IT and technology companies often have a global workforce that requires frequent travel. Ensuring the safety of employees when traveling is a top priority, driving demand for travel risk management services. Telecom companies operate critical infrastructure, and their employees need to travel to remote or challenging locations for maintenance and deployment. Travel risk management services help ensure the safety of these employees.
The Asia Pacific region dominated the Global Travel Risk Management Services Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $74.2 Billion by 2030. The North America market is anticipated to grow at a CAGR of 7.5% during (2023 - 2030). Additionally, The Europe market would witness a CAGR of 7.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/travel-risk-management-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of FocusPoint International, Inc., BCD Group, Collinson International Limited, Tokio Marine Holdings, Inc., CWT Global B.V, Global Rescue LLC, Everbridge, Inc, Kroll, LLC, Chubb Limited, and Healix Group of companies.
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By Enterprise Size
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Companies Profiled
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