Travel Services Market in India to Reach $ 56 bn by 2024, Airbnb Inc., Cleartrip Pvt. Ltd., and Yatra Online Inc, Emerge as Key Contributors to Growth| Technavio

LONDON–(BUSINESS WIRE)–#TravelServicesMarketinIndia–Technavio has been monitoring the travel service market in India and it is poised to grow by $ 56 bn during 2020-2024, progressing at a CAGR of about 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions:

• What are the major trends in the market?
  The introduction of low-cost airlines is a major trend driving the growth of the market.
• At what rate is the market projected to grow?
  The year-over-year growth for 2020 is estimated at 18.05% and the incremental growth of the market is anticipated to be $ 56 bn.
• Who are the top 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 some of the major market participants.
• What is the key market driver?
  The rise in international tourist footfall is one of the major factors driving the market.
• How big is the Online Booking market?
  The online booking segment will contribute 82% of the market share

   

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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 market participants. The rise in international tourist footfall will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Travel Services Market in India 2020-2024: Segmentation

Travel service market in India is segmented as below:

• Service
  • Domestic Flight Services, Hotel Accommodation Services
  • Rail Ticket Services
  • Taxi/cab Services
  • Domestic Bus Services
  • Holiday Packages
• Booking
  • Online
  • Offline

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Travel Services Market in India 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The travel services market report covers the following areas:

• Travel Services Market in India Size
• Travel Services Market in India Trends
• Travel Services Market in India Industry Analysis

This study identifies the introduction of low-cost airlines as one of the prime reasons driving the travel service market growth in India during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Travel Services Market in India 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist travel services market growth in India during the next five years
• Estimation of the travel services market size in India and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the travel services market in India
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of travel service market vendors in India

Table of 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 SIZING

• Market definition
• Market sizing 2019
• Market outlook
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

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
• Rail ticket services – Market size and forecast 2019-2024
• Taxi/cab services – Market size and forecast 2019-2024
• Domestic bus services – Market size and forecast 2019-2024
• Holiday packages – Market size and forecast 2019-2024
• Market opportunity by service

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY MODE OF BOOKING

• Market segmentation by mode of booking
• Comparison by mode of booking
• Online – Market size and forecast 2019-2024
• Offline – Market size and forecast 2019-2024
• Market opportunity by mode of booking

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Introduction of low-cost airlines
• Increased contribution of travel and tourism to GDP and employment
• Technological advances in mobile-based and website-based travel service
• platforms

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• 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: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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