Travel Services Market in India to Grow by USD 11.11 Bn| Rise in International Tourist Footfall and the Advent of Technologies to Boost Market Growth | 17,000+ Technavio Research Reports | State

NEW YORK, Jan. 17, 2022 /PRNewswire/ — The “Travel Services Market In India by Service (Domestic flight services, Hotel accommodation services, Rail ticket services, Cab services, and Others) and Market Landscape (online and offline) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offerings. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the travel services market in India between 2020 and 2025 is USD 11.11 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

  • Market Driver
  • Market Challenge

The increasing international tourist footfall is driving the travel services market growth in India. This factor, along with the advent of technologies, has increased the use 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 been increasing at a rapid pace owing to international and domestic business, leisure, and sports trips. The significantly rising number of multinational companies is primarily contributing to business travel spending in India. In addition, governments are taking initiatives to promote tourism for inbound tourists. These factors will propel the demand for travel services in India during the forecast period.

Factors such as huge competition among players leading to price war may challenge market growth. The travel services market in India is dominated by 10 global vendors. However, these vendors face stiff competition from various other global, regional, and local players. Moreover, regional and local vendors compete among themselves to market and sell unique services. In addition, the intense competition in the market leads to price wars among vendors, which adversely affect their profit margins. The growing trend of offerings high discounts and other offers provided by some vendors is another major challenge faced by the market.

To learn about additional key drivers, trends, and challenges available with TechnavioRead our FREE Sample Report right now!

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

By service, the domestic flight services segment will grow the fastest during the forecast period. This is mainly due to the significant growth in the number of passengers. This growth is primarily driven by the introduction of multiple low-cost airlines, government initiatives, increasing disposable income, foreign direct investment (FDI) in the Indian civil aviation sector, improved connectivity, expanding working population base, and a high number of domestic business travelers.

View our sample report for additional insights into the contribution of all the 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 gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Travel Services Market in India Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 12%

Market growth 2021-2025

USD 11.11 billion

Market structure

Fragmented

YoY growth (%)

7.23

Regional analysis

India

Performing market contribution

India at 100%

Key consumer countries

India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website: www.technavio.com/

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