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Travel Services Market in India: Increase in the number of M&A, partnerships, and strategic alliances to drive growth
M&A activities, partnerships, and strategic alliances help players in increasing their market shares, improving their services, and expanding their geographic reach and service portfolios. Many vendors operating in the travel services market in India are actively focusing on acquiring other companies and related players to enhance their customer reach and expand their services across the country. The market is also witnessing partnerships between vendors and government agencies, as such partnerships enhance vendors' business strategies and presence in the travel services market in India. The increasing number of M&A activities, partnerships, and strategic alliances is leading to improvements in the services offered in the travel services market in India, in turn fueling its growth.
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As per Technavio, the increasing international tourist footfall will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Travel Services Market in India: Increasing international tourist footfall
Inbound tourism in India grew at a rapid pace, consequently driving the number of tourists and fueling the demand for travel services in India. The growth in tourist footfall is the rise in the number of travelers heading to India. The increase in the number of international tourists and visitors to India is accelerating the demand for travel services. The tourism industry in India is 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. The growth in the number of international tourist arrivals fuels the growth in demand for travel services in India, consequently driving the value sales of the market.
"The introduction of multiple low-cost airlines, rising disposable income, government initiatives, improved connectivity, foreign direct investment (FDI) in the Indian civil aviation sector will further boost market growth during the forecast period", says a senior analyst at Technavio.
Travel Services Market in India: Major Vendors
- Airbnb Inc.
- Cleartrip Pvt. Ltd.
- Cox and Kings Ltd.
- Indian Railway Catering and Tourism Corp. Ltd.
- ITC Ltd.
Travel Services Market In India: Segmentation Analysis
This market research report segments the travel services market in India by service (Domestic flight services, Hotel accommodation services, Rail ticket services, Cab services, and Others) and booking (Online and Offline).
The APAC region led the travel services market in India in 2021, followed by India respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as increasing the adoption of online payment platforms.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Report Page: https://www.technavio.com/report/travel-services-market-in-india-industry-analysis
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