According to a research by Transparency Market Research (TMR), the market for business travel security is anticipated to grow to US $15.3 billion between 2023 and 2031. The market was also expected to expand at a CAGR of 4.4 for the same period. “The rise in corporate travellers has sparked a surge in investments aimed at safeguarding employee well-being during their journeys. This growing trend has prompted increased attention and resources towards travel safety solutions. Technological advancements have played a crucial role in enhancing travel safety, offering a range of features, including real-time tracking, emergency communication systems, risk assessment tools and crisis response capabilities. As a result, the mounting concerns regarding employee travel safety have become a significant driving force behind the progress of market. The surge in business travel, both domestically and internationally, drives the demand for corporate travel security services,” TMR said.
