Popularity of Travel Apps Driving the Online Travel Services Market in India
Research On Global Markets has announced the addition of a market research report titled “Online Travel Services Market In India (2018-2023)” to their offering. According to the report, Indian consumers are increasingly availing both online and offline sources of information for booking their travel. Among these, almost 12% consumers prefer offline sources for research, while 57% use online channels to book their travel and avail better deals. The advent of internet and emergence of artificial reality (AR) is bringing about considerable change in the online travel industry in India.
Research On Global Markets’ analysts further believe that mobile applications have emerged as the most critical point of interaction for consumers owing to the increasing penetration of smartphones. 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.
Analysts believe mobile applications have brought about the most significant reform in travel, which have enabled the entire user experience to be available on the go. On an average, consumers spend significant amount of time 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.
The research report published by Research On Global Markets features a comprehensive analysis of the Indian online travel services market based on the various market segments including 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.
Moreover, the Indian government has taken up several projects pertaining to the development of roads, railways and airports, which is likely to boost tourism. However, lower internet penetration, especially in the rural regions is somewhat hindering the growth of the online travel services market in India, according to Research On Global Markets.
Research On Global Markets tracks the performance of the major players operating in the Indian online travel services market including 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, among others.
Key highlights of this report:
- Overview of the online travel services market in India
- Historical, current and forecasted market size data for the Indian online travel services market (2016 to 2023)
- Qualitative analysis of the Indian online travel services market and its segments (by category- railway tickets, hotel booking and others)
- Qualitative analysis of the major drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of major players operating in the market
- Key recent developments associated with the online travel services market in India
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for online travel services in India to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.