DUBLIN--(BUSINESS WIRE)--The "Travel Services Market in India by Service and Mode of Booking - Forecast and Analysis 2020-2024" report has been added to ResearchAndMarkets.com's offering.
Travel Services Market in India: About this market
The 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.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 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
PART 12: VENDOR LANDSCAPE
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/vt080z