India Travel Services Market Expected to Grow by USD 11.11 Billion | Rise in International Tourist Visitation and Advent of Technologies to Drive Market Growth | Over 17,000 Technavio Research Reports |

NEW YORK, January 17, 2022 /PRNewswire/ — The “Travel services market in India By Service (Domestic Flight Services, Hotel Accommodation Services, Rail Ticketing Services, Taxi Services and Others) and Market Landscape (Online and Offline) – Forecast and Analysis 2021-2025has been added to Technavio’s offerings. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years.

The difference in potential growth for the travel services market in India between 2020 and 2025 is $11.11 billion. To get the exact annual growth variance and annual growth rate, Talk to our analyst.

Key Market Dynamics:

  • market engine
  • Market challenge

the increase international tourist attendance is driving the growth of the travel services market in India. This factor, coupled with the advent of technologies, has increased the usage of online travel services, which will fuel the growth of the travel services market in India during the forecast period. In India, inbound tourism has grown at a rapid rate due to international and domestic business, leisure and sports travel. The dramatically increasing number of multinational companies is a major contributor to business travel spending in India. In addition, governments are taking initiatives to promote tourism to incoming tourists. These factors will propel the demand for travel services in India during the forecast period.

Factors such as huge competition between players leading to price war may challenge the growth of the market. The market for travel services in India is dominated by 10 global suppliers. However, these providers face fierce competition from various other global, regional and local players. Additionally, regional and local providers compete to market and sell unique services. Moreover, the intense competition in the market leads to price wars among vendors, which negatively affects their profit margins. The growing trend of offering high discounts and other offers offered by some vendors is another major challenge facing the market.

Learn more about additional key factors, trends and challenges available with Technavio. Read our FREE sample report now!

The market for travel services in India The report is segmented by service (domestic flight services, hotel accommodation services, rail ticketing services, taxi services and others) and booking (online and offline).

By service, the domestic flight services segment will witness the fastest growth during the forecast period. This is mainly due to the significant growth in the number of passengers. This growth is mainly due to the introduction of several low cost airlines, government initiatives, increase in disposable income, foreign direct investment (FDI) in the Indian civil aviation sector, improvement connectivity, an expanding labor force and a high number of national companies. travellers.

See our sample report for additional information on the contribution of all segments and regional opportunities in the report.

Some companies mentioned

    • 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
    • Yatra Online Inc.
  • To access more supplier profiles with their key offerings available with Technavio, Click here

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India travel services market

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 12%

Market Growth 2021-2025

$11.11 billion

Market structure

Fragmented

Annual growth (%)

7.23

Regional analysis

India

Successful market contribution

100% India

Main consumer countries

India

Competitive landscape

Leading companies, competitive strategies, scope of consumer 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 Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

  • Summary
  • Market landscape
  • Market sizing
  • Five forces analysis
  • Market segmentation
  • Customer landscape
  • Geographic landscape
  • Supplier Landscape
  • Vendor analysis
  • appendix

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