Travel Services Market in India by Service and Mode of Booking - Forecast and Analysis 2020-2024

Travel Services Market in India by Service and Mode of Booking - Forecast and Analysis 2020-2024

Travel Services Market in India: About this market

Technavio’s travel services market in India analysis considers sales from both online and offline mode of booking. In 2019, the online segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as secured transactions and easy and convenient return policies will play a significant role in the online segment to maintain its market position. Also, our travel services market in India report looks at factors such as the increase in the number of M&A, partnerships, and strategic alliances, increasing international tourist footfall, and rising number of marketing and promotional activities. However, huge competition among players leading to a price war, expansion of services in remote locations, and operational challenges for tour and holiday package service providers may hamper the growth of the travel services market in India industry over the forecast period.

Travel Services Market in India: Overview

Increasing international tourist footfall

The number of international tourists in India has been witnessing a considerable rise in recent years. The growth in inbound tourism can be attributed to the rising number of travelers visiting India for international and domestic businesses, leisure, and sports trips. A substantial number of multinational companies in the country has a positive impact on the number of business visits of corporates in India from across the globe. Apart from business travels, the tourism industry in India is also growing at a rapid pace, led by the improving infrastructure for air, rail, and road connectivity to cities in India and the growing number of government initiatives to promote tourism in the country. Such augmenting growth of the tourism industry will lead to the expansion of the travel services market in India at a CAGR of almost 19% during the forecast period.

Introduction of low-cost airlines

Airlines are one of the most preferred modes of travel among tourists and travelers owing to their comfort and short duration of travel. Bulk booking of airline tickets often turns out to be quite heavy on the customers’ pocket. Hence, travelers are increasingly looking for cheap or economic airfares to fulfill their requirements without needing them to incur the extra cost burden. The introduction of low-cost airlines has been a relief for travelers and holiday and tour package service providers. This has also encouraged companies from the SME business sector to opt for air travel for business trips. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the travel services market in India during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the travel services market in India is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading manufacturers, that include 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.

Also, the travel services market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global hotels, resorts, and cruise lines market
      • Table Segments of global hotels, resorts, and cruise lines market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Vendor: Key offerings
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2019
      • Table Market size 2019
    • Market outlook
    • Market size and forecast 2019-2024
      • Table Country market: Size and forecast 2019-2024 ($ millions)
      • Table Country market: Year-over-year growth 2020-2024 (%)
  • Five forces analysis
    • Table Five forces analysis 2019
    • Table Five forces analysis 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market segmentation by service
    • Table Service - Market share 2019-2024 (%)
    • Comparison by service
      • Table Comparison by service
    • Domestic flight services - Market size and forecast 2019- 2024
      • Table Domestic flight services - Market size and forecast 2019-2024 ($ millions)
      • Table Domestic flight services - Year-over-year growth 2020-2024 (%)
    • Hotel accommodation services - Market size and forecast 2019-2024
      • Table Hotel accommodation services - Market size and forecast 2019-2024 ($ millions)
      • Table Hotel accommodation services - Year-over-year growth 2020-2024 (%)
    • Rail ticket services - Market size and forecast 2019-2024
      • Table Rail ticket services - Market size and forecast 2019-2024 ($ millions)
      • Table Rail ticket services - Year-over-year growth 2020-2024 (%)
    • Taxi/cab services - Market size and forecast 2019-2024
      • Table Taxi/cab services - Market size and forecast 2019-2024 ($ millions)
      • Table Taxi/cab services - Year-over-year growth 2020-2024 (%)
    • Domestic bus services - Market size and forecast 2019-2024
      • Table Domestic bus services - Market size and forecast 2019-2024 ($ millions)
      • Table Domestic bus services - Year-over-year growth 2020-2024 (%)
    • Holiday packages - Market size and forecast 2019-2024
      • Table Holiday packages - Market size and forecast 2019-2024 ($ millions)
      • Table Holiday packages - Year-over-year growth 2020-2024 (%)
    • Market opportunity by service
      • Table Market opportunity by service
  • Customer landscape
    • Table Customer landscape
  • Market segmentation by mode of booking
    • Table Mode of booking - Market share 2019-2024 (%)
    • Comparison by mode of booking
      • Table Comparison by mode of booking
    • Online - Market size and forecast 2019-2024
      • Table Online - Market size and forecast 2019-2024 ($ millions)
      • Table Online - Year-over-year growth 2020-2024 (%)
    • Offline - Market size and forecast 2019-2024
      • Table Offline - Market size and forecast 2019-2024 ($ millions)
      • Table Offline - Year-over-year growth 2020-2024 (%)
    • Market opportunity by mode of booking
      • Table Market opportunity by mode of booking
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table International tourism, number of arrivals in India (2012-2017) (millions)
    • Market challenges
      • Table Impact of drivers and challenges
  • 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
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Airbnb Inc.
      • Table Airbnb Inc. - Vendor overview
      • Table Airbnb Inc. - Business segments
      • Table Airbnb Inc. - Organizational developments
      • Table Airbnb Inc. - Key offerings
    • Cleartrip Pvt. Ltd.
      • Table Cleartrip Pvt. Ltd. - Vendor overview
      • Table Cleartrip Pvt. Ltd. - Business segments
      • Table Cleartrip Pvt. Ltd. - Organizational developments
      • Table Cleartrip Pvt. Ltd. - Key offerings
    • Cox & Kings Ltd.
      • Table Cox & Kings Ltd. - Vendor overview
      • Table Cox & Kings Ltd. - Product segments
      • Table Cox & Kings Ltd. - Organizational developments
      • Table Cox & Kings Ltd. - Geographic focus
      • Table Cox & Kings Ltd. - Segment focus
      • Table Cox & Kings Ltd. - Key offerings
    • Indian Railway Catering and Tourism Corp. Ltd.
      • Table Indian Railway Catering and Tourism Corp. Ltd. - Vendor overview
      • Table Indian Railway Catering and Tourism Corp. Ltd. - Business segments
      • Table Indian Railway Catering and Tourism Corp. Ltd. - Segment focus
      • Table Indian Railway Catering and Tourism Corp. Ltd. - Key offerings
    • ITC Ltd.
      • Table ITC Ltd. - Vendor overview
      • Table ITC Ltd. - Business segments
      • Table ITC Ltd. - Organizational developments
      • Table ITC Ltd. - Geographic focus
      • Table ITC Ltd. - Segment focus
      • Table ITC Ltd. - Key offerings
    • MakeMyTrip Ltd.
      • Table MakeMyTrip Ltd. - Vendor overview
      • Table MakeMyTrip Ltd. - Business segments
      • Table MakeMyTrip Ltd. - Organizational developments
      • Table MakeMyTrip Ltd. - Geographic focus
      • Table MakeMyTrip Ltd. - Segment focus
      • Table MakeMyTrip Ltd. - Key offerings
    • Oravel Stays Pvt. Ltd.
      • Table Oravel Stays Pvt. Ltd. - Vendor overview
      • Table Oravel Stays Pvt. Ltd. - Service segments
      • Table Oravel Stays Pvt. Ltd. - Key offerings
    • Thomas Cook (India) Ltd.
      • Table Thomas Cook (India) Ltd. - Vendor overview
      • Table Thomas Cook (India) Ltd. - Business segments
      • Table Thomas Cook (India) Ltd. - Organizational developments
      • Table Thomas Cook (India) Ltd. - Geographic focus
      • Table Thomas Cook (India) Ltd. - Segment focus
      • Table Thomas Cook (India) Ltd. - Key offerings
    • TripAdvisor Inc.
      • Table TripAdvisor Inc. - Vendor overview
      • Table TripAdvisor Inc. - Business segments
      • Table TripAdvisor Inc. - Organizational developments
      • Table TripAdvisor Inc. - Geographic focus
      • Table TripAdvisor Inc. - Segment focus
      • Table TripAdvisor Inc. - Key offerings
    • Yatra Online Inc.
      • Table Yatra Online Inc. - Vendor overview
      • Table Yatra Online Inc. - Business segments
      • Table Yatra Online Inc. - Organizational developments
      • Table Yatra Online Inc. - Geographic focus
      • Table Yatra Online Inc. - Segment focus
      • Table Yatra Online Inc. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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