Online Travel Services Market in India (2021-2026) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Online Travel Services Market. Some of the key players profiled in the study Cox & Kings Limited, International Travel House Limited, Thomas Cook (India) Limited Cleartrip Private Limited, Expedia Corporate Travel Online India Private Limited, Ibibo Group Private Limited, MakeMyTrip (India) Private Limited, Oravel Stays Private Limited RedBus.in and Yatra Online Private Limited.
Consumers in general avail both online and offline sources of information for booking their journeys, among which ~12% of the consumers prefer to use offline sources for research, ~57% believe that the online channels give them better deals and find it more convenient to book online. With the advent of internet and emergence of artificial reality (AR), the online travel industry in India is changing rapidly due to which a growing number of Indians have turned to the convenience of the web for better travel prices and accommodations. As smartphones have progressively become ubiquitous, mobile applications have emerged as the most critical point of interaction with consumers for any travel business, and a number of niche offerings such as medical tourism and eco-tourism are expected to create more demand for travelling. Several hotel chains and airlines are focusing on generating direct hotel bookings through their own websites and mobile applications.
The online travel services market in India is segmented by category into railway tickets, hotel bookings and others (air, tour packages). Air tour package segment is expected to be the largest growing segment due to the availability of greater number of deals, offers and many more. In case of air travel, the flight tickets are more expensive, and hence revenue generation is more from air tickets.
Mobile applications have brought the most significant reform in travel, which have enabled the entire user experience to be available on the go. On an average, the consumers spend many hours on different online websites to plan, research and make a booking for vacations. Travellers have started opting for numerous shorter holidays throughout the year which in turn is driving the sales of various travel products and services. Government has taken up several projects pertaining to the development of roads, railways and airports, which is likely to boost tourism. Several measures have been taken to curb frauds in the digital platform by introducing safer avenues and gateways for making payments.