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Travel Market to Grow by USD 5.50 Trillion (2024-2028), with AI Driving Market Transformation and Rising Demand for Experiential Travel – Technavio Report

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NEW YORK, Sept. 17, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global travel market  size is estimated to grow by USD 5.50 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.52%  during the forecast period.  Growing popularity of experiential travel is driving market growth, with a trend towards increasing international tourist footfall. However, threat from growing terrorism  poses a challenge. Key market players include Accor S.A., American Express Global Business Travel GBT, Balkan Holidays Ltd., BCD Travel Services BV, Booking Holdings Inc., Carlson Inc., Corporate Travel Management Ltd., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group Ltd., G Adventures, JPMorgan Chase and Co., JTB Corp., MakeMyTrip Ltd., Marriott International Inc., Omega World Travel Inc., PT Global Digital Niaga, Traveloka, The Scott Travel Group Ltd., Travel Leaders Group Holdings LLC, World Travel Holdings, and World Travel Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Sector (Transportation, Hotel, and Travel activities), Type (Leisure and Business), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

Accor S.A., American Express Global Business Travel GBT, Balkan Holidays Ltd., BCD Travel Services BV, Booking Holdings Inc., Carlson Inc., Corporate Travel Management Ltd., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group Ltd., G Adventures, JPMorgan Chase and Co., JTB Corp., MakeMyTrip Ltd., Marriott International Inc., Omega World Travel Inc., PT Global Digital Niaga, Traveloka, The Scott Travel Group Ltd., Travel Leaders Group Holdings LLC, World Travel Holdings, and World Travel Inc.

Key Market Trends Fueling Growth

Inbound tourism has experienced significant growth worldwide, leading to an increase in the number of tourists and demand for travel activities. Business travel, both international and domestic, is a significant contributor to this trend. The presence of numerous multinational corporations drives corporate visits, boosting the travel industry. Online travel platforms cater to the rising demand for travel activities from an increasing number of international tourists, primarily from North America, Europe, and the Pacific region. Government initiatives, such as improved connectivity through new airports, further fuel tourism growth. Overall, these factors are expected to expand the global travel market during the forecast period. 

The travel industry is experiencing significant shifts driven by trends such as the growing middle class population, heightened security and health concerns, and the increasing role of foreign tour operators and online platforms. Digital transformation is at the forefront, with tourists relying on online resources for trip planning, booking flight tickets and hotels, and even renting cars. Economic stability and leisure activities continue to be key motivators for vacations and holiday packages. The pandemic has created an acquisition opportunity for online travel agents, with promotional activities and new year holidays driving bookings. Mobile apps and holiday packages for international cities cater to elite travelers seeking new experiences in unexplored destinations. The luxury travel market remains strong, with a focus on security and personalized services. Overall, the online travel market is thriving, offering tourists convenience, affordability, and access to a world of new opportunities. 

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Market Challenges

Terrorist activities have grown globally since 2016, with the primary goal being to instill fear and alter people’s behavior. An example is the bombing on January 1, 2023, at a Kabul checkpoint near the commercial airport, resulting in injuries and fatalities. This incident directly affects industries like hotels and travel, as border clearances experience delays and stricter inspections. Furthermore, heightened security around oil and gas pipelines and electricity transmission lines leads to increased costs. Travel insurance and reinsurance also become more expensive. Consequently, the rise in terrorist activities may impede the expansion of the global travel market during the forecast period.The travel market faces various challenges in both the tourism sector and beyond. Micro trips are popular, but providing personalized services, reliable transport, and professional interaction remains crucial for customer satisfaction. Political stability is essential for business growth, especially for customized tours and private tours. Technological advancements, such as the adoption of IoT, impact airlines, cruise liners, hotels, and resorts. Natural disasters and stringent immigration policies pose risks. Business, sports, and cultural events drive domestic and overseas travel. Governmental support and infrastructural development are vital for addressing challenges like public transportation and accommodation facilities. Rapid globalization and the interconnected world increase competition, requiring technical integration and online booking platforms. Social media networks and influencer marketing influence travel decisions. Country revenue depends on addressing challenges like political instability, natural disasters, and stringent immigration policies.

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Segment Overview 

This travel market report extensively covers market segmentation by

Sector 1.1 Transportation1.2 Hotel1.3 Travel activitiesType 2.1 Leisure2.2 BusinessGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Transportation-  The Travel Market is a thriving industry that connects service providers with customers seeking unique travel experiences. It offers various opportunities for businesses to expand their reach and increase sales. By utilizing effective marketing strategies and providing exceptional customer service, companies can attract and retain customers. The Travel Market also encourages innovation and collaboration, allowing businesses to offer competitive prices and diverse offerings. Overall, it is a dynamic and profitable sector that continues to grow and evolve.

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Research Analysis

The online travel market has experienced significant shifts in the wake of the pandemic, with a growth in domestic tourism and an increase in bookings for New Year holidays. Mobile apps have become essential tools for travelers, allowing them to easily compare holiday packages, book flights, hotels, car rentals, and more. The adoption of IoT technology in the tourism sector offers new experiences and personalized services, creating opportunities for innovation. However, political instability, natural disasters, and stringent immigration policies pose challenges. The acquisition of smaller players in the online travel market presents opportunities for growth, particularly in the luxury travel market catering to elite travelers. Unexplored destinations and micro trips are also gaining popularity as travelers seek new experiences. Business and sports travel are expected to rebound as restrictions ease. Despite these trends, the tourism sector continues to face uncertainty and must adapt to changing consumer preferences and external factors.

Market Research Overview

The online travel market has seen a significant boost during the pandemic as people look for acquisition opportunities in the tourism sector. Domestic tourism has become a popular choice for travelers, leading to an increase in bookings for new year holidays. Mobile apps and online travel agents offer convenience for holiday packages, car rentals, and international city explorations. The luxury travel market caters to elite travelers seeking new experiences in unexplored destinations. Micro trips and personalized services are also in demand, as is reliable transport and professional interaction. Political stability, customized tours, and private tours are essential for some travelers, while others prioritize baby boomers, Gen X, and millennials’ preferences. Technological advancements, such as the adoption of IoT, have transformed the industry, with online booking platforms, travel websites, and rapid globalization playing key roles. However, challenges such as political instability, natural disasters, and stringent immigration policies persist. Business, sports, and leisure activities continue to drive travel, with economic stability and infrastructure development crucial for the tourist industry’s digital transformation. Online resources, flight tickets, hotels, and trip planning remain essential, with health and security concerns also influencing travel decisions. Foreign tour operators and online platforms cater to various tourist destinations, while influencer marketing, travel blogs, and user-generated content shape travel trends. Country revenue depends on public transportation, accommodation facilities, and the middle class population’s growing demand for travel.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

SectorTransportationHotelTravel ActivitiesTypeLeisureBusinessGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Automotive Seat Heater Market to Reach $5.5 Billion, Globally, by 2033 at 6% CAGR: Allied Market Research

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Key factors contributing to the growth of the automotive heat seater market include advancements in heating technology, such as the integration of more efficient heating elements and improved temperature control systems.

WILMINGTON, Del., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Automotive seat heater Market by Type (Carbon Heater and Composite Heater), Vehicle Type (Passenger Cars and Commercial Vehicles), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the automotive seat heater market was valued at $3.1 billion in 2023, and is estimated to reach $5.5 billion by 2033, growing at a CAGR of 6% from 2024 to 2033.

The global automotive seat heaters market is driven by increased demand for comfort and customization. As increasing numbers of individuals utilize the roads, the number of affordable vehicles available in recent years has skyrocketed. As a result, there is a greater need for vehicles with interiors that are both visually appealing and practical. The market for vehicle interior materials is being driven by rising consumer demand for customization and technical developments across the industry. In response to client demand, companies are now offering customization choices for creating modern interiors. Consumers increasing health consciousness is also driving the development of environmentally friendly automotive interior materials that contribute to increased comfort. 

Request Sample of the Report on Automotive Seat Heater Market   Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A323768

Prime determinants of growth 

The growing level of competition in the automotive industry is a primary driver of the automotive seat heater market’s expansion. Furthermore, improving consumer affordability, rising consumer income, and the availability of easy financing to purchase a vehicle are all driving forces in the global automobile sector. Furthermore, expansion in the automobile industry causes growth in the global market. Rising popularity of carbon fiber technology, rising demand for comfort and energy efficiency in vehicles, and rising preferences for high-end passenger cars are some of the major and insightful factors that will most likely drive the growth of the automotive seat heater market during the forecast period. The health benefits, such as reduction from discomfort backs and rapid warming, are driving market expansion. The expanding aftermarket sales of car seat heaters are driving the market forward.

Have a Question? Connect to our Analyst – https://www.alliedmarketresearch.com/connect-to-analyst/A323768

By Type 

The carbon heater segment is expected to grow faster throughout the forecast period.

The carbon heater segment is anticipated to experience faster growth in the automotive seat heater market. Carbon fiber meshed weave heating pads will remain the largest market segment as this type of seat heater ensures good strength and requires very low voltage to produce heat. a growing preference for energy-efficient and environmentally friendly components, aligning with the broader push towards sustainable automotive solutions. The integration of advanced technologies, such as automatic climate control systems that adjust seat heating based on ambient temperature and individual preferences, is becoming increasingly popular.  

By Vehicle Type

The passenger car segment is expected to grow faster throughout the forecast period.

The passenger car segment is anticipated to experience growth in the automotive seat heater market. The increasing expenditure on passenger and driver comfort. The development of premium features and the surge in passenger vehicle numbers in Europe and North America significantly contribute to this growth. Additionally, there is a rising demand for SUVs and luxury vehicles in emerging markets. Automotive manufacturers are continuously innovating electronic technologies, which create new opportunities for the application of heated seats in passenger cars. This trend is further bolstered by the emphasis on enhancing vehicle comfort and the integration of advanced climate control systems. 

Procure Complete Report (324 Pages PDF with In-depth Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/automotive-seat-heater-market-A323768

By Sales Channel

The aftermarket segment is expected to grow faster throughout the forecast period.

The aftermarket segment is anticipated to experience growth in the automotive seat heater market. One of the standardization of temperature control seats in various mid-range and high-end vehicles is helping the OEM section of the automobile seat heater industry. Seat heater replacement rates are predicted to rise due to excessive wear and tear, as well as changing climatic circumstances in cold locations, driving up aftermarket sales. When compared to OEM products, aftermarket products are more cost-effective. Furthermore, owners of vehicles without seat heaters add this equipment in the aftermarket, which boosts seat heater aftermarket sales.

By Region

Europe to maintain its dominance by 2033.

Europe is expected to maintain its dominance in the automotive heat seater market by 2033 owing to robust industrialization, infrastructural development, and growing investments in automotive and manufacturing sectors. has witnessed a surge in the popularity and necessity of automotive seat heaters. As the nation’s economy expands and consumer prosperity grows, there is a corresponding increase in the demand for vehicles equipped with advanced comfort amenities. Once considered a luxury, seat heaters are now becoming more accessible to a wider demographic, fueling their adoption among consumers.

Europe will maintain its pivotal role as a significant market for automotive seat heaters. This is primarily due to the increasing demand from end users who prioritize cabin comfort, especially in the winter months. Seat heaters are favored for their ability to significantly enhance occupant comfort during this season.

Players: –

Continental AGPanasonic CorporationGentherm IncorporatedII-VI IncorporatedRoadwire LLCRostra Precision Controls Inc.Firsten Automotive Electronics Co., Ltd.Guangzhou Tachibana Electronic Co., Ltd.SINOMASChampion Auto Systems

The report provides a detailed analysis of these key players in the global automotive seat heater market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Industry News

In August 2020, Lear and Gentherm introduced INTU™ Thermal Comfort Seating with ClimateSense™ Technology.

For More In-depth Insights: https://www.alliedmarketresearch.com/automotive-seat-heater-market-A323768

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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/R E P E A T — MEDIA ADVISORY – Minister Wilkinson to Make a Critical Minerals Infrastructure Announcement/

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VANCOUVER, BC, Sept. 19, 2024 /CNW/ – The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Ranj Pillai, the Premier of Yukon, will make a funding announcement in support of critical minerals infrastructure projects. A media availability will follow.

Date: September 20, 2024

Time: 10:30 a.m. PT

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca. A dial-in line is available for media and will be provided upon registration.

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SOURCE Natural Resources Canada

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Olink Proteomics Announces the ‘Olink Proteomics World’ Virtual Conference: A Novel Platform Exploring the Latest Advancements in Proteomics and Proteogenomics

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The ‘Olink Proteomics World’ Virtual Conference will bring together scientists from around the globe to explore the latest advancements in proteomics and proteogenomics across fields such as immunology, oncology, neuroscience, aging, and inflammation on September 26th, 2024.

WALTHAM, Mass., Sept. 20, 2024 /PRNewswire-PRWeb/ — Olink Proteomics, part of Thermo Fisher Scientific, a leading provider of advances proteomics solutions, is exited to announce its upcoming virtual conference, Olink Proteomics World, on September 26th, 2024.

The digital event features presentations from esteemed scientists and provides a platform to connect with peers, identify potential collaborations, and explore advanced protein biomarker discovery tools and results.

This innovative virtual conference will bring together scientists from around the globe to explore the latest advancements in proteomics and proteogenomics across fields such as immunology, oncology, neuroscience, aging, and inflammation. The digital event features presentations from esteemed scientists and provides a platform to connect with peers, identify potential collaborations, and explore advanced protein biomarker discovery tools and results.

Our lineup of esteemed presenters will cover a wide range of topics, including:

The Aged Tumor Microenvironment: Understanding how aging influences the tumor microenvironment and its implications for cancer therapy.Infectious Diseases Dynamics: Unravelling how proteomics can enhance our understanding and management of infectious diseases.Alzheimer’s Diagnostics and Disease Monitoring: Exploring the latest tools and biomarkers for early detection and monitoring of Alzheimer’s disease.Aging Mechanisms: Insights into the biological processes of aging and how they can inform healthcare strategies.Predicting Disease Risks: Utilizing multiomics data to forecast disease risks and improve preventive measures.Genetics and Proteomics of Obesity: Investigating the complex interplay between genetics, proteomics, and obesity.Microbiome Transplantation Effects: Evaluating the impact of faecal transplants on human health and disease.Biomarker Discovery in Multiple Sclerosis: Cutting-edge research on identifying biomarkers for better diagnosis and treatment of Multiple Sclerosis.

In addition to these topics, our speakers will delve into various aspects of multiomics research, offering insights into how integrated approaches are shaping the future of personalized medicine and healthcare.

To see the full agenda and list of speakers for this event click here.

In addition to expert presentations, attendees can participate in interactive sessions, visit the digital poster hall, and engage in real-time Q&A sessions with speakers.

For further information about the event & to register for free, click here.

About Olink Proteomics
Olink’s mission is to accelerate proteomics together with the scientific community, to understand real-time biology and gain actionable insights into human health and disease. Our innovative solutions deliver highly sensitive and accurate protein quantification, giving scientists the power to investigate complex biological processes with precision.

About Labroots
Labroots is the leading scientific social networking website, & primary source for scientific trending news & premier educational virtual events & webinars & more. Contributing to the advancement of science through content sharing capabilities, Labroots is a powerful advocate in amplifying global networks & communities. Founded in 2008, Labroots emphasizes digital innovation in scientific collaboration & learning. Offering more than articles & webcasts that go beyond the mundane & explore the latest discoveries in the world of science, Labroots users can stay atop their field by gaining continuing education credits from a wide range of topics through their participation in the webinars & virtual events.

Media Contact

Akshay Masand, Labroots, 714-463-4673, akshay.masand@labroots.com, https://olink.com/ 

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