India Travel Services Market Expected to Grow by $11.11 Billion Between 2021 and 2025 | Increase international tourist visitation to stimulate growth | Technavio

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travel services market in India: Increased number of mergers and acquisitions, partnerships and strategic alliances to drive growth

M&A activities, partnerships, and strategic alliances help players increase market share, improve services, and expand geographic reach and service portfolios. Many suppliers operating in the market for travel services in India are actively focusing on acquiring other businesses and related players to enhance their customer base and expand their services across the country. The market is also witnessing partnerships between vendors and government agencies as these partnerships enhance the business strategies of the vendors and their presence in the travel services market by India. The increasing number of M&A activities, partnerships and strategic alliances is leading to improvements in the services offered in the travel services market in India, in turn fueling its growth.

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According to Technavio, the increase in international tourist footfall will have a positive impact on the market and contribute significantly to its growth during the forecast period. This research report also analyzes other significant trends and market drivers that will influence the growth of the market during the period 2021-2025.

travel services market in India: Increase in international tourist attendance

Inbound tourism in India has grown at a rapid pace, consequently driving the number of tourists and fueling the demand for travel services in India. The growth in tourist numbers corresponds to the increase in the number of travelers going to India. The increase in the number of tourists and international visitors India accelerates the demand for travel services. The tourism industry in India is growing at a rapid pace, thanks to the improvement of air, rail and road connectivity infrastructure to the cities of India and the growing number of government initiatives to promote tourism in the country. The growth in the number of international tourist arrivals is fueling the growth in demand for travel services in India, consequently driving the value of market sales.

“Introduction of several low cost airlines, increase in disposable income, government initiatives, improved connectivity, foreign direct investment (FDI) in Indian civil aviation sector will further boost growth of the market over the forecast period,” said a senior analyst at Technavio.

travel services market in India: Main suppliers

  • Airbnb inc.
  • Cleartrip Pvt. ltd.
  • Cox and Kings Ltd.
  • Indian Railway Catering and Tourism Corp. ltd.
  • ITC Ltd.

Travel services market in India: Segmentation analysis
This market research report segments the travel services market India by service (domestic flight services, hotel accommodation services, train ticketing services, taxi services and others) and booking (online and offline).

The APAC region dominated the travel services market in India in 2021, followed by India respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as increasing adoption of online payment platforms.

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Some of the main topics covered in the report include:

Market challenges

Market factors

Market trends

Supplier Landscape

  • Suppliers Covered
  • Ranking of suppliers
  • Positioning on the supplier market
  • Competitive scenario

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