India Travel Services Market research report highlights key findings in the area of ​​vendor landscape, key market segments, regions and the latest trends and drivers

Supplier landscape

The market structure is expected to remain fragmented during the forecast period. The report also provides information on several vendors in the market including Airbnb Inc., Cleartrip Pvt. Ltd., Cox and Kings Ltd., Indian Railway Catering and Tourism Corp. Ltd., ITC Ltd., MakeMyTrip Ltd., Oravel Stays Pvt. Ltd., Thomas Cook India Ltd., TripAdvisor LLC, and Yatra Online Inc., among others.

Suppliers deploy growth strategies such as mergers and acquisitions, partnerships and strategic alliances to be competitive in the market.

Cleartrip – In October 2019, Cleartrip has launched a transformative solution “Cleartrip for Work”, a transformative travel product for the individual traveler.

See more on the highlights of the marketplace vendor landscape with a comprehensive list of vendors and their offerings.

Key market segmentation

  • Segmentation by department:
    • Domestic flight services:
      • The providers of the travel services market are expected to focus on capturing the business opportunities of the domestic flight services segment, as it accounted for the largest market share in the base year.
      • The growth in passenger numbers is largely due to the introduction of several low-cost airlines, increased disposable income, government initiatives, improved connectivity, foreign direct investment (FDI) in the Indian civil aviation sector, expanding workforce and large number of domestic business travelers.
    • Hotel accommodation services
    • Train ticket services
    • Taxi services
    • Others
  • Segmentation by reservation:
    • In line:
      • In terms of booking, the online booking segment is expected to generate maximum revenue during the forecast period.
      • The convenience offered by online platforms propels the change in consumer preference for booking travel services through the online mode, subsequently propelling the sales generated by this segment.
    • Offline

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Latest trends driving the global travel services market in India

  • Travel services market in India Driver:
    • International tourist traffic and the advent of technologies
      Business travel expenses in India hue mainly because of the growing number of multinational companies. Governments are also taking initiatives to promote tourism to inbound tourists. In addition, inbound tourism in India has grown rapidly due to international and domestic business, leisure and sports travel. These factors will drive the market growth during the forecast period.
  • Travel services market in India trend:
    • Availability of low-cost airlines:
      The financial burden on travelers is drastically reduced with the introduction of low cost airlines. The increasing competition in the airline industry has resulted in the introduction of low cost airlines. Global airlines are also planning to invest in the low cost segment of the Indian aviation industry.

Find additional information on various other market drivers and trends mentioned in our FREE Sample Report.

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India Travel Services Market Scope

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Accelerate to a 12% CAGR

Market growth 2021-2025

$ 11.11 billion

Market structure

Fragmented

Annual growth (%)

7.23

Regional analysis

India

Competitive landscape

Leading companies, competitive strategies, consumers
scope of engagement

Profiled companies

Airbnb Inc., Cleartrip Pvt. Ltd., Cox and Kings Ltd.,
Indian Railway Catering and Tourism Corp. Ltd., ITC
Ltd., MakeMyTrip Ltd., Oravel Stays Pvt. Ltd., Thomas
Cook India Ltd., TripAdvisor LLC and Yatra Online Inc.

Market dynamics

Parent market analysis, market growth drivers
and obstacles, Fast growing and slow growing segment
analysis, COVID-19 impact and future consumer
dynamics, analysis of market conditions for the forecast period

Customization

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