Travel Services Market To Grow By $ 56 Billion In India Over 2020-2024 Period | domestic flight services segment will present significant opportunities | Technavio

LONDON–(COMMERCIAL THREAD) – Technavio is monitoring the travel services market and it is expected to grow by USD 56 billion in 2020-2024, growing at a CAGR of around 19% during the forecast period. The report offers up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Get a Free Sample Report Instantly Delivered to Learn More

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the epidemic’s immediate impact is varied. While a few industries will see lower demand, many others will remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the travel services market. The market growth in 2020 is expected to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on the segmentation by service, which is the leading segment of the market?

    The domestic flight services segment dominated the market in 2019.
  • What are the major market trends?

    The introduction of low cost airlines is the major trend in the market.
  • How fast should the market grow?

    The market is expected to grow at a CAGR of around 19% during the period 2020-2024.
  • Who are the main players in the market?

    Airbnb Inc., Cleartrip Pvt. Ltd., Cox & Kings Ltd., Indian Railway Catering and Tourism Corp. Ltd., ITC Ltd., MakeMyTrip Ltd., Oravel Stays Pvt. Ltd., Thomas Cook (India) Ltd., TripAdvisor Inc. and Yatra Online Inc. are the major players in the market.
  • What are the main drivers and challenges of the market?

    The market is driven by the increase in international tourist traffic. However, a major price war led by fierce competition between players could jeopardize growth.
  • What is the size of the online reservation market?

    The online booking segment dominated the market with an 82% share in 2019.

Related reports on Consumer discretionary Include:

Global Business Travel Market – The global business travel market is segmented on the basis of expense (travel price, accommodation, food and other expenses), age (over 40 and under 40), application (marketing , internal meeting, trade show and product launch) and geography (APAC, Europe, MEA, North America and South America). Click here for an exclusive free sample report

Global luxury travel market – The global luxury travel market is segmented by type (Adventure, Custom, Cruise & Yachting, Culinary & Others) and Geography (Europe, North America, APAC, MEA & South America). Click here for an exclusive free sample report

Develop smart strategies for your business: Get a Free Sample Report Now!

The market is fragmented and the degree of fragmentation will accelerate during the forecast period. Airbnb Inc., Cleartrip Pvt. Ltd., Cox & Kings Ltd., Indian Railway Catering and Tourism Corp. Ltd., ITC Ltd., MakeMyTrip Ltd., Oravel Stays Pvt. Ltd., Thomas Cook (India) Ltd., TripAdvisor Inc. and Yatra Online Inc. are some of the major players in the market. Although increasing international tourist footfall will provide immense opportunities for growth, a major price war waged by stiff competition between players is likely to pose a challenge for market sellers. With the aim of helping players to strengthen their presence in the market, this Travel Services Market forecast report provides detailed analysis about major vendors in the market. The report also gives industry leaders insight into the competitive landscape and insight into the various product offerings offered by various companies.

Technavio’s customized research reports offer detailed information on the impact of COVID-19 at the industry level, regional level, and subsequent supply chain operations. This personalized report will also help customers track new product launches in direct and indirect markets related to COVID-19, upcoming vaccines and pipeline analysis, and significant developments in supplier operations and government regulations. .

Travel Services Market 2020-2024: Segmentation

The travel services market is segmented as follows:

  • A service

    • Domestic Flight Services, Hotel Accommodation Services

    • Train ticket services

    • Taxi services / taxis

    • National bus services

    • Vacation Packages

  • Booking method

Give your business a head start for 2021: Download our free sample report

Travel Services Market 2020-2024: Scope

Technavio presents a detailed picture of the market through the study, synthesis and summation of data from multiple sources. The Travel Services Market report covers the following areas:

  • Travel Services Market Size

  • Travel Services Market Trends

  • Industry Analysis of the Travel Services Market

This study identifies the introduction of low cost airlines as one of the major reasons for the growth of the travel services market in the coming years.

Technavio offers three forecast scenarios (optimistic, probable and pessimistic) given the impact of COVID-19. Technavio’s extensive research has had a direct and indirect impact on COVID-19 market research reports.

Subscribe to world-class market intelligence and instantly access over 17,000 market research reports and connect with expert analysts

Travel Services Market 2020-2024: Highlights

  • Market CAGR during the forecast period 2020-2024

  • Detailed information on the factors that will drive the growth of the travel services market over the next five years

  • Estimating the size of the travel services market and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the travel services market

  • Market Competitive Landscape Analysis and Detailed Supplier Information

  • Complete details on the factors that will challenge the growth of the Travel Services Market vendors

Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • Preface

  • Currency conversion rates for US $

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Market segmentation analysis

PART 04: MARKET CALIBRATION

  • Market definition

  • Sizing of the 2019 market

  • Market outlook

  • Market Size and Forecast 2019-2024

PART 05: FIVE STRENGTH ANALYSIS

  • The bargaining power of buyers

  • Bargaining power of suppliers

  • The threat of new participants

  • The threat of substitutes

  • Threat of rivalry

  • State of the market

PART 06: MARKET SEGMENTATION BY SERVICE

  • Market segmentation by service

  • Comparison by service

  • Domestic Flight Services – Market Size and Forecast 2019-2024

  • Hotel Accommodation Services – Market Size and Forecast 2019-2024

  • Train Ticket Services Market Size and Forecast 2019-2024

  • Taxi / Taxi Services Market Size and Forecast 2019-2024

  • Domestic Bus Services – Market Size and Forecast 2019-2024

  • Vacation Packages – Market Size and Forecast 2019-2024

  • Market opportunity by service

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY RESERVATION MODE

  • Market segmentation by booking method

  • Comparison by booking method

  • Online – Market Size and Forecast 2019-2024

  • Offline – Market Size and Forecast 2019-2024

  • Market opportunity by booking method

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market factors

  • Market challenges

PART 11: MARKET TRENDS

  • Introduction of low cost airlines

  • Increased contribution of travel and tourism to GDP and employment

  • Technological advancements in mobile and website travel services

  • platforms

PART 12: SELLERS LANDSCAPE

  • Overview

  • Landscape disturbance

  • Competitive scenario

PART 13: SUPPLIER ANALYSIS

  • Covered suppliers

  • Supplier ranking

  • Positioning of sellers in the market

  • Airbnb Inc.

  • Cleartrip Pvt. Ltd.

  • Cox & Kings Ltd.

  • Indian Railway Catering and Tourism Corp. Ltd.

  • ITC Ltd.

  • MakeMyTrip Ltd.

  • Oravel Stays Pvt. Ltd.

  • Thomas Cook (India) Ltd.

  • TripAdvisor Inc.

  • Yatra Online, Inc.

PART 14: ANNEX

  • Research methodology

  • Abreviations list

  • Definition of the market positioning of sellers

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.