The Travel Services Market in India is being driven by Increase in number of mergers, partnerships, and strategic alliances
The Travel Services Market in India is expected to grow at a CAGR of 15.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 23615.3 million. In the Indian travel market, air travel is the preferred choice for tourists and individuals due to its comfort and efficiency, despite the higher cost compared to other modes of transportation like rail or bus. For families and group tours, the expense of purchasing multiple airline tickets can be substantial, posing a significant financial burden. Consequently, the demand for affordable airfares has surged, leading to the emergence of low-cost airlines. This development in the airline industry has brought much-needed relief to travelers and tour package providers, enabling them to offer cost-effective travel solutions.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
153 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.3% |
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Market growth 2025-2029 |
USD 23615.3 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
13.0 |
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Key countries |
India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Travel Services Market in India encompasses various sectors including Air Travel, AI and Robotics, Sharing Economy, Solo Travelers, Adventure Travel, Low-Cost Airlines, Eco-Tourism, Medical Tourism, and Educational Tourism. Travelers can plan their Itineraries, book Flights and Accommodations via Desktop or Mobile, using Online Travel Agents or Mobile Apps. Package Travelers and Domestic Tourism are also significant parts of this market. Innovations like AI and Robotics, Sharing Economy, and Low-Cost Airlines are transforming the industry.
The Travel Services Market in India encompasses air travel, online travel services, online travel agencies, and various sub-segments such as AI and robotics, sharing economy, solo travelers, adventure travel, low-cost airlines, eco-tourism, and medical tourism. This market is an integral part of the broader Global Hotels, Resorts and Cruise Lines Industry, which includes companies operating in hotels, resorts, cruise ships, travel agencies, tour operators, casinos, gaming, leisure facilities, and restaurants. According to Technavio, the expansion of the global Travel and Tourism Industry, fueled by increasing numbers of travelers from both emerging and developed economies, will significantly contribute to the growth of this market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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