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India Travel Services Market by Service and Booking - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 122
  • SKU: IRTNTR40267
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The travel services market share in India is expected to reach an estimated value of USD 11.78 billion by 2026 at an accelerating CAGR of 11.38%.

This travel services market in India research report extensively covers travel services market segmentation in India by:

  • Booking - Online and Offline
  • Service - Domestic flight services, Hotel accommodation services, Rail ticket services, Cab services, and Others

The travel services market in India report also offers information on several market vendors, including Airbnb Inc., ANI Technologies Private Ltd., Cox and Kings Ltd., Expedia Group Inc., Fairfax Financial Holdings Ltd., Indian Railway Catering and Tourism Corp. Ltd., Kesari Tours Pvt. Ltd., Mahindra Holidays and Resorts India Ltd., MakeMyTrip Ltd., Meru Mobility Tech Private Ltd., One97 Communications Ltd., Oravel Stays Ltd., Radiant Info Systems Ltd., Treebo Hotels, TripAdvisor LLC, Uber Technologies Inc., Walmart Inc., Yatra Online Inc., and ITC Ltd. among others.

What will the Travel Services Market Size in India be During the Forecast Period?

Download the Free Report Sample to Unlock the Travel Services Market Size in India for the Forecast Period and Other Important Statistics

 

Travel Services Market in India: Key Drivers, Trends, and Challenges

The increase in the number of M&A, partnerships, and strategic alliances is notably driving the travel services market growth in India, although factors such as the huge competition among players leading to a price war may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the travel services industry in India. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Travel Services Market Driver in India

One of the key factors driving growth in the travel services market in India is the increase in the number of M&A, partnerships, and strategic alliances. M&A activities, partnerships, and strategic alliances help players in increasing their market shares, improving their services, and expanding their geographic reach and service portfolios. Many vendors operating in the travel services market in India are actively focusing on collaborating with other companies and related players to enhance their customer reach and expand their services across the country. The market is also witnessing partnerships between vendors and government agencies since such partnerships enhance vendors business strategies and presence in the travel services market in India. The increasing number of M&A activities, partnerships, and strategic alliances is leading to improvements in the services offered in the travel services market in India, in turn fueling its growth.

Key Travel Services Market Trend in India

The introduction of low-cost airlines is a travel services market trend in India that is expected to have a positive impact in the coming years. Airlines are the most preferred mode of travel among tourists and travelers because of their comfort and the short travel duration. However, traveling by air costs more, especially for family trips or group tours, when compared with other modes of travel, such as by rail or bus. The introduction of low-cost airlines, led by the intensifying competition in the airline industry, has been a relief for travelers as well as holiday and tour package service providers. The introduction of low-cost airlines has not only reduced the extra cost burden on travelers and motivated the population to avail of travel services but has also encouraged various companies from the SME business sector to opt for air travel for business trips. Additionally, the availability of low-cost air tickets has impacted the tourism industry positively.

Key Travel Services Market Challenge in India

The huge competition among players leading to a price war will be a major challenge for the travel services market in India during the forecast period. The travel services market in India is dominated by ten global vendors, but these vendors face stiff competition from various other global, regional, and local vendors. Vendors invest heavily in R&D to come up with a wide range of advanced and innovative service offerings suitable for different types of occasions and end-users, such as holiday packages for young individuals, couples, and family trips. Regional and local vendors compete among themselves mostly to market and sell unique services. Also, the intense competition in the market triggers price wars among vendors, which adversely affect their profit margins.

This travel services market in India analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the travel services market in India as a part of the global hotels, resorts, and cruise lines market within the global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the travel services market in India during the forecast period.

Who are the Major Travel Services Market Vendors in India?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Airbnb Inc.
  • ANI Technologies Private Ltd.
  • Cox and Kings Ltd.
  • Expedia Group Inc.
  • Fairfax Financial Holdings Ltd.
  • Indian Railway Catering and Tourism Corp. Ltd.
  • Kesari Tours Pvt. Ltd.
  • Mahindra Holidays and Resorts India Ltd.
  • MakeMyTrip Ltd.
  • Meru Mobility Tech Private Ltd.
  • One97 Communications Ltd.
  • Oravel Stays Ltd.
  • Radiant Info Systems Ltd.
  • Treebo Hotels
  • TripAdvisor LLC
  • Uber Technologies Inc.
  • Walmart Inc.
  • Yatra Online Inc.
  • ITC Ltd.

 

This statistical study of the travel services market in India encompasses successful business strategies deployed by the key vendors. The travel services market in India is fragmented and the vendors are deploying growth strategies such as emphasizing on building brand and brand equity to differentiate themselves from competing brands to compete in the market.

Product Insights and News

  • Airbnb Inc. - Airbnb Inc. is a public company headquartered in the US. It is a global company generating $5,991.76 million in revenues and has around 6,132 employees. Its revenue from the travel service market in India is a key component of its overall revenues. 
  • Airbnb Inc. - The company offers travel services such as Business travel with places to stay and explore. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The travel services market in India forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Travel Services Market in India Value Chain Analysis

Our report provides extensive information on the value chain analysis for the travel services market in India, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Booking Segments in the Travel Services Market in India?

To gain further insights on the market contribution of various segments Request for a FREE sample

The travel services market share growth in India by the online segment will be significant during the forecast period. The convenience offered by online platforms propels the shift in consumer preference for booking travel services through the online mode, subsequently propelling the sales generated through this segment. This shift is also led by the wide penetration and geographical reach of online travel service providers such as MakeMyTrip, TripAdvisor, IRCTC, and Yatra. The sales through the online travel services segment are expected to grow at a rapid pace during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the travel services market size in India and actionable market insights on post COVID-19 impact on each segment.

 

Travel Services Market Scope in India

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 11.38%

Market growth 2022-2026

$ 11.78 billion

Market structure

Fragmented

YoY growth (%)

10.65

Regional analysis

India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Airbnb Inc., ANI Technologies Private Ltd., Cox and Kings Ltd., Expedia Group Inc., Fairfax Financial Holdings Ltd., Indian Railway Catering and Tourism Corp. Ltd., Kesari Tours Pvt. Ltd., Mahindra Holidays and Resorts India Ltd., MakeMyTrip Ltd., Meru Mobility Tech Private Ltd., One97 Communications Ltd., Oravel Stays Ltd., Radiant Info Systems Ltd., Treebo Hotels, TripAdvisor LLC, Uber Technologies Inc., Walmart Inc., Yatra Online Inc., and ITC Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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.

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What are the Key Data Covered in this Travel Services Market in India Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive travel services market growth in India during the next five years
  • Precise estimation of the travel services market size in India and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the travel services industry in India
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of travel services market vendors in India

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Mode of Booking
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 07: Parent market
    • Exhibit 08: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 09: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 10: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 11: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 12: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 13: Chart on India: Year-over-year growth 2021-2026 (%)
      • Exhibit 14: Data Table on India: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 15: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Mode of Booking

    • 5.1 Market segments
      • Exhibit 22: Chart on Mode of Booking - Market share 2021-2026 (%)
      • Exhibit 23: Data Table on Mode of Booking - Market share 2021-2026 (%)
    • 5.2 Comparison by Mode of Booking
      • Exhibit 24: Chart on Comparison by Mode of Booking
      • Exhibit 25: Data Table on Comparison by Mode of Booking
    • 5.3 Online - Market size and forecast 2021-2026
      • Exhibit 26: Chart on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 27: Data Table on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 28: Chart on Online - Year-over-year growth 2021-2026 (%)
      • Exhibit 29: Data Table on Online - Year-over-year growth 2021-2026 (%)
    • 5.4 Offline - Market size and forecast 2021-2026
      • Exhibit 30: Chart on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 32: Chart on Offline - Year-over-year growth 2021-2026 (%)
      • Exhibit 33: Data Table on Offline - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Mode of Booking
      • Exhibit 34: Market opportunity by Mode of Booking ($ million)

    6 Market Segmentation by Service

    • 6.1 Market segments
      • Exhibit 35: Chart on Service - Market share 2021-2026 (%)
      • Exhibit 36: Data Table on Service - Market share 2021-2026 (%)
    • 6.2 Comparison by Service
      • Exhibit 37: Chart on Comparison by Service
      • Exhibit 38: Data Table on Comparison by Service
    • 6.3 Domestic flight services - Market size and forecast 2021-2026
      • Exhibit 39: Chart on Domestic flight services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 40: Data Table on Domestic flight services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Chart on Domestic flight services - Year-over-year growth 2021-2026 (%)
      • Exhibit 42: Data Table on Domestic flight services - Year-over-year growth 2021-2026 (%)
    • 6.4 Hotel accommodation services - Market size and forecast 2021-2026
      • Exhibit 43: Chart on Hotel accommodation services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Data Table on Hotel accommodation services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Chart on Hotel accommodation services - Year-over-year growth 2021-2026 (%)
      • Exhibit 46: Data Table on Hotel accommodation services - Year-over-year growth 2021-2026 (%)
    • 6.5 Rail ticket services - Market size and forecast 2021-2026
      • Exhibit 47: Chart on Rail ticket services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Data Table on Rail ticket services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 49: Chart on Rail ticket services - Year-over-year growth 2021-2026 (%)
      • Exhibit 50: Data Table on Rail ticket services - Year-over-year growth 2021-2026 (%)
    • 6.6 Cab services - Market size and forecast 2021-2026
      • Exhibit 51: Chart on Cab services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Data Table on Cab services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 53: Chart on Cab services - Year-over-year growth 2021-2026 (%)
      • Exhibit 54: Data Table on Cab services - Year-over-year growth 2021-2026 (%)
    • 6.7 Others - Market size and forecast 2021-2026
      • Exhibit 55: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 57: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 58: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 6.8 Market opportunity by Service
      • Exhibit 59: Market opportunity by Service ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 61: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 62: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 63: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 64: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 65: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 66: Matrix on vendor position and classification
            • 10.3 Airbnb Inc.
              • Exhibit 67: Airbnb Inc. - Overview
              • Exhibit 68: Airbnb Inc. - Product / Service
              • Exhibit 69: Airbnb Inc. - Key offerings
            • 10.4 Cox and Kings Ltd.
              • Exhibit 70: Cox and Kings Ltd. - Overview
              • Exhibit 71: Cox and Kings Ltd. - Product / Service
              • Exhibit 72: Cox and Kings Ltd. - Key offerings
            • 10.5 Fairfax Financial Holdings Ltd.
              • Exhibit 73: Fairfax Financial Holdings Ltd. - Overview
              • Exhibit 74: Fairfax Financial Holdings Ltd. - Business segments
              • Exhibit 75: Fairfax Financial Holdings Ltd. - Key offerings
              • Exhibit 76: Fairfax Financial Holdings Ltd. - Segment focus
            • 10.6 Indian Railway Catering and Tourism Corp. Ltd.
              • Exhibit 77: Indian Railway Catering and Tourism Corp. Ltd. - Overview
              • Exhibit 78: Indian Railway Catering and Tourism Corp. Ltd. - Business segments
              • Exhibit 79: Indian Railway Catering and Tourism Corp. Ltd. - Key offerings
              • Exhibit 80: Indian Railway Catering and Tourism Corp. Ltd. - Segment focus
            • 10.7 ITC Ltd.
              • Exhibit 81: ITC Ltd. - Overview
              • Exhibit 82: ITC Ltd. - Business segments
              • Exhibit 83: ITC Ltd. - Key offerings
              • Exhibit 84: ITC Ltd. - Segment focus
            • 10.8 MakeMyTrip Ltd.
              • Exhibit 85: MakeMyTrip Ltd. - Overview
              • Exhibit 86: MakeMyTrip Ltd. - Business segments
              • Exhibit 87: MakeMyTrip Ltd. - Key offerings
              • Exhibit 88: MakeMyTrip Ltd. - Segment focus
            • 10.9 Oravel Stays Ltd.
              • Exhibit 89: Oravel Stays Ltd. - Overview
              • Exhibit 90: Oravel Stays Ltd. - Product / Service
              • Exhibit 91: Oravel Stays Ltd. - Key offerings
            • 10.10 TripAdvisor LLC
              • Exhibit 92: TripAdvisor LLC - Overview
              • Exhibit 93: TripAdvisor LLC - Business segments
              • Exhibit 94: TripAdvisor LLC - Key offerings
              • Exhibit 95: TripAdvisor LLC - Segment focus
            • 10.11 Walmart Inc.
              • Exhibit 96: Walmart Inc. - Overview
              • Exhibit 97: Walmart Inc. - Business segments
              • Exhibit 98: Walmart Inc. - Key news
              • Exhibit 99: Walmart Inc. - Key offerings
              • Exhibit 100: Walmart Inc. - Segment focus
            • 10.12 Yatra Online Inc.
              • Exhibit 101: Yatra Online Inc. - Overview
              • Exhibit 102: Yatra Online Inc. - Business segments
              • Exhibit 103: Yatra Online Inc. - Key offerings
              • Exhibit 104: Yatra Online Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 105: Inclusions checklist
                • Exhibit 106: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 107: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 108: Research methodology
                • Exhibit 109: Validation techniques employed for market sizing
                • Exhibit 110: Information sources
              • 11.5 List of abbreviations
                • Exhibit 111: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The travel services market in india market growth will increase by $$ 11.78 bn during 2023-2026.
              The travel services market in india market is expected to grow at a CAGR of 11.38% during 2023-2026.
              Technavio has segmented the travel services market in india market by other 1 (Online, Offline, Rail ticket services, Cab services, and Others) ,service (Domestic flight services, Hotel accommodation services, Rail ticket services, Cab services, and Others) , and geographic (India and India).
              Airbnb Inc., ANI Technologies Private Ltd., Cox and Kings Ltd., Expedia Group Inc., Fairfax Financial Holdings Ltd., Indian Railway Catering and Tourism Corp. Ltd., Kesari Tours Pvt. Ltd., Mahindra Holidays and Resorts India Ltd., MakeMyTrip Ltd., Meru Mobility Tech Private Ltd., One97 Communications Ltd., Oravel Stays Ltd., Radiant Info Systems Ltd., Treebo Hotels, TripAdvisor LLC, Uber Technologies Inc., Walmart Inc., Yatra Online Inc., ITC Ltd. are a few of the key vendors in the travel services market in india market.
              APAC will register the highest growth rate of 100% among the other regions. Therefore, the travel services market in india market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the travel services market in india market growth are:
              • Increase in the number of M&A, partnerships, and strategic alliances
              • Introduction of low-cost airlines
              The travel services market in india market vendors should focus on grabbing business opportunities from the online segment as it accounted for the largest market share in the base year.
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