India Travel Services Market Size is Expected to Grow USD 11.78 Billion from 2021 to 2026: A Descriptive Analysis of Customer Landscape, Vendor Assessment and Market Dynamics

NEW YORK, January 16, 2023 /PRNewswire/ — The India travel services market size is estimated to increase by $11.78 billion from 2021 to 2026. Market growth momentum will accelerate at a CAGR of 11.38% during the forecast period, according to Technavio – Request a sample report

travel services market in India – Supplier analysis
Supplier offers –

• Airbnb Inc. – The Company provides travel services such as business trips with places to stay and explore.

• Cox and Kings Ltd. – The company offers travel services such as Indian Splendor and Boutique Rajasthan.

• Fairfax Financial Holdings Ltd. – The company offers travel services such as flights, hotels and insurance under the subsidiary thomas cook.

• Indian Railway Catering and Tourism Corp. ltd. – The Company offers travel services such as flights, hotels, bus tickets and tour packages.

• For more details on the suppliers and their offers – Buy the report!

Landscape of sellers –

The market for travel services in India is fragmented, with the presence of several global and regional suppliers. A few prominent providers that offer travel services in India in the market are 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. and others.

Suppliers invest heavily in procuring good quality products and providing services to their customers. They focus on brand building and brand equity to differentiate themselves from competing brands. They differentiate themselves through quality, regulatory compliance and innovation and offer products with different characteristics. Price differentiation between providers is moderate due to strong competition. The differentiating factors are expected to drive the market growth over the forecast period.

The story continues

travel services market in India – Customer landscape
To help businesses assess and develop strategies for growth, the report outlines –

travel services market in India – Segmentation assessment

Overview of segments
Technavio has segmented the market based on service (domestic flight services, hotel accommodation services, rail ticketing services, taxi services, etc.).

• The online segment will grow at a significant rate during the forecast period. Consumers prefer online platforms to book travel services as they are convenient. This propels the sales generated by this segment. This change is driven by the wide penetration and geographic reach of online travel service providers such as MakeMyTrip, TripAdvisor, IRCTC and Yatra. Hence, sales through the online travel services segment are expected to grow at a rapid rate during the forecast period.

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travel services market in India – Market dynamics

Main Drivers – The increase in the number of mergers and acquisitions, partnerships and strategic alliances is driving the growth of this segment. M&A activities, partnerships, and strategic alliances help players increase market share, improve services, and expand geographic reach and service portfolios. Many providers collaborate with other companies to expand their customer base and services across the country. Additionally, the market is witnessing partnerships between vendors and government agencies. Thus, the growing number of M&A activities, partnerships and strategic alliances are fueling the growth of the market in India.

Key trends – The introduction of low cost airlines is a key market trend. Airlines are the preferred mode of transport, as they offer comfort and short travel time. The introduction of low-cost airlines has reduced the burden of additional costs on travelers and encouraged people to take advantage of travel services. In addition, various companies in the SME sector opt for the plane for their business trips. Additionally, the availability of cheap airline tickets has had a positive impact on the tourism industry. These factors will support the growth of the market over the forecast period.

Major Challenges – The strong competition between players leading to a price war challenge the travel services market by India during the forecast period. The market is dominated by major global vendors who face stiff competition from other global, regional and local vendors. Suppliers invest heavily in R&D to provide advanced and innovative service offerings suitable for different types of occasions and end users, such as vacation packages. Regional and local providers compete to market and sell unique services. Intense competition triggers price wars among vendors, which negatively affects their profit margins. These factors will hamper the growth of the market over the forecast period.

Drivers, trends, and challenges impact market dynamics, which can impact businesses. Find out more information in a sample report!

What are the key data covered by this India travel services market report?

• CAGR of the market over the forecast period

• Detailed information on the factors that will drive the growth of the Travel Services Market India between 2022 and 2026

• Accurate estimation of the size of the travel services market in India and its contribution to the parent market

• Accurate predictions on upcoming trends and changes in consumer behavior

• An in-depth analysis of the market competitive landscape and detailed vendor information

• Complete analysis of the factors that will test the growth of India travel services market vendors

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Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Booking Mode

6 Market Segmentation by Service

7 Customer Landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

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