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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Associated reports:
Travel Market by Sector and Geography – Forecast and Analysis 2022-2026 – The travel market share is expected to increase by $ 451.19 billion from 2021 to 2026, and the market growth dynamics will accelerate at a CAGR of 13.86%.
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Sports Tourism Market by Product, Type, Category and Geography – Forecast and Analysis 2021-2025 – The sports tourism market has the potential to grow by $ 890.90 billion during 2021-2025, and the market growth momentum will accelerate at a CAGR of 13.37%.
Download a free sample exclusive report
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India Travel Services Market Scope |
|
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Cover of the report |
Details |
|
Page number |
120 |
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Year of reference |
2020 |
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Forecast period |
2021-2025 |
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Growth dynamics and CAGR |
Accelerate to a 12% CAGR |
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Market growth 2021-2025 |
$ 11.11 billion |
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Market structure |
Fragmented |
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Annual growth (%) |
7.23 |
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Regional analysis |
India |
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Competitive landscape |
Leading companies, competitive strategies, consumers |
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Profiled companies |
Airbnb Inc., Cleartrip Pvt. Ltd., Cox and Kings Ltd., |
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Market dynamics |
Parent market analysis, market growth drivers |
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Customization |
If our report did not include the data that you |
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