Market Size of India Online Travel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 17.24 Billion |
| Market Size (2029) | USD 28.40 Billion |
| CAGR (2024 - 2029) | 10.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Online Travel Market Analysis
The India Online Travel Market size is estimated at USD 17.24 billion in 2024, and is expected to reach USD 28.40 billion by 2029, growing at a CAGR of 10.5% during the forecast period (2024-2029).
India's online travel industry was hit hard by COVID-19. However, long-term growth fundamentals were intact. The pandemic was a major challenge, but it was also an acquisition opportunity for stronger players as the industry consolidated. Domestic tourism, on the other hand, is expected to pick up faster, with plenty of pent-up demand to support a relatively quick recovery. Indian travel firms have reportedly seen a 25%-30% increase in bookings, both for air travel and accommodations, for the Christmas and New Year holidays.
Mobile apps have become a significant channel for travel bookings. Many of the leading travel companies in India have developed user-friendly mobile apps, allowing travelers to book tickets and accommodations on the go.
The online travel industry in India is highly competitive and features several prominent players, including MakeMyTrip, Yatra, Cleartrip, Goibibo, and Booking.com, among others. These companies offer a variety of services, including flight and hotel bookings, holiday packages, car rentals, and more.
India Online Travel Industry Segmentation
The online travel market consists of sales of travel services through online channels. Online travel agents or agencies are individuals or companies with websites allowing consumers to book travel-related services via the Internet. A complete background analysis of the market, including the analysis of market size and forecast, market shares, industry trends, growth drivers, and vendors, is provided. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key points in the industry's value chain.
India's Online Travel Market Report is segmented by service type (transportation, travel accommodation, vacation packages, and others), by booking type (online travel agencies, direct travel suppliers), by platform (desktop, mobile) and By Tour Type (Independent Traveller, Tour Group, Package Traveller). The market size and forecasts for the India Online Travel Market are provided in terms of value (USD) for all the above segments.
| Service Type | |
| Transportation | |
| Travel Accommodation | |
| Vacation Packages | |
| Other Service Types |
| Booking Type | |
| Online Travel Agencies | |
| Direct Travel Suppliers |
| Platform | |
| Desktop | |
| Mobile |
| By Tour Type | |
| Independent Traveller | |
| Tour Group | |
| Package Traveller |
India Online Travel Market Size Summary
The online travel market in India is poised for significant growth, driven by the resurgence of domestic tourism and the increasing adoption of mobile technology for travel bookings. Despite the challenges posed by the COVID-19 pandemic, which led to a temporary downturn, the industry has shown resilience and is expected to expand substantially over the forecast period. Key players such as MakeMyTrip, Yatra, and Cleartrip are at the forefront, offering a range of services from flight and hotel bookings to holiday packages and car rentals. The competitive landscape is marked by both established companies and emerging players leveraging technological advancements and innovative solutions to capture market share. The rise in disposable incomes among Indians is further fueling the demand for both domestic and international travel, positioning the online travel sector as a crucial contributor to the country's economic growth.
The Indian online travel market is characterized by its dynamic nature, with major companies like MakeMyTrip and EaseMyTrip actively expanding their international presence to cater to the growing number of Indians traveling abroad. The market's growth is supported by the increasing number of Indian scholars studying overseas, which is expected to boost international travel expenditure. Additionally, initiatives such as Skyscanner's Hindi language experience and MakeMyTrip's collaboration with the Ministry of Tourism to promote lesser-known destinations highlight the industry's focus on enhancing user experience and expanding market reach. As the market continues to evolve, both large and mid-sized companies are capitalizing on new opportunities, ensuring a competitive and rapidly growing online travel ecosystem in India.
India Online Travel Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Service Type
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2.1.1 Transportation
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2.1.2 Travel Accommodation
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2.1.3 Vacation Packages
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2.1.4 Other Service Types
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2.2 Booking Type
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2.2.1 Online Travel Agencies
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2.2.2 Direct Travel Suppliers
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2.3 Platform
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2.3.1 Desktop
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2.3.2 Mobile
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2.4 By Tour Type
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2.4.1 Independent Traveller
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2.4.2 Tour Group
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2.4.3 Package Traveller
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India Online Travel Market Size FAQs
How big is the India Online Travel Market?
The India Online Travel Market size is expected to reach USD 17.24 billion in 2024 and grow at a CAGR of 10.5% to reach USD 28.40 billion by 2029.
What is the current India Online Travel Market size?
In 2024, the India Online Travel Market size is expected to reach USD 17.24 billion.
