India Online Accommodation Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR||> 10.00 %|
*Disclaimer: Major Players sorted in no particular order
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India Online Accommodation Market Analysis
The travel business in pre-pandemic India was USD 75 billion in FY19-20. This will expand beyond USD 125 billion by FY2026-27, taking into account both domestic travel, inbound and outbound travel by Indians. However, the travel, tourism and hospitality industry was the one to take a major hit during COVID-19 pandemic. The restrictions of movement due to lockdowns led to a huge decrease in demand for accomodation. The online accomodation market saw a 70-75% decrease in its revenue during the pandemic.
However, as now most of the travel restrictions have been lifted up, the industry would regain its momentum. Though initially there will be increase in local travels due to the fear, gradually the markets will see a rise. Country's travel market is dominated by about 300,000 travel agents who represent the largest volumes of business in bookings at about 52% and the role of these agents significantly increased after the pandemic.
India due to its varied diversity in culture across regions, abundance of historical and religious sites provides a large number of travel destinations. It is a huge market for foreign and domestic travellers. In past few years, India has also emerged as a spiritual and yoga destination for the world, further increasing the number of tourists. This increase in the number of travellers also increases the demand for accomodation services over the past few years.
With the advancement of technology, low internet costs it is easier for people to book hotels or homes from the comfort of their house and plan their travel. This has caused the online accommodation services to become popular. Many players have entered the Indian online accomodation market considering this opportunity.
India Online Accommodation Market Trends
This section covers the major market trends shaping the India Online Accommodation Market according to our research experts:
Increased number of Internet Users is Fueling the Growth of Market
India had 92 million internet users in 2010 that number rose to 845 million in 2021 and is expected to reach 1.2 billion by 2027. As the population increases so the demand for any sector generally increases. However, as the online accomodation market is totally dependent on internet the number of internet users, the rise in number of internet users is directly impacting the market's magnification.
Internet accessibility to large number of people means the increased market penetration for online accommodation providers. The more people have internet access to the farther the reach of the accommodation providers. During COVID lockdown a large number of people have shifted to online modes for shopping. Therefore, people are also more likely to go online when looking for an accommodation. Online mode of shopping saves the time and provide a great deal of options for the customers to choose from. This is the same in case of online accommodation booking. Therefore, the industry may see a huge entry of new customers from diverse geographical regions of country.
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Guest Applications and In-room Experience
A good application is must if one wants to provide a great experience for the buyer today. These applications provide a personal experience to the buyer which is very important in the hospitality industry. These applications give notificatons of deals, information about services and run customer loyalty programs. Many companies already have their mobile applications.
Today technology is not only limited to the front end and backend of online booking webites. The customer expects a good experice in the accommodation too. The companies in the industry know this and that is why technology is being integerated to create a greater in room experience for customer. Keyless access through mobile phones is one of such features. Also tablets are being provided for customers to place orders and interact with the hotel staff. Multiple devices in the room like A.C. and heater can be controlled by smart control devices which adds to the increased customer experience.
India Online Accommodation Industry Overview
The report covers major international players operating in the market. Indian online accomodation market is fairly fragmented with a few major players. These players like Airbnb, Expedia are also international major players. However, Oravel Stays private limited is an Indian company with global presense. There are many other local players that are engaged in the industry that also offer services like ticket booking for flights, trains and buses.
India Online Accommodation Market Leaders
ORAVEL STAYS PRIVATE LIMITED
Agoda Company Pte. Ltd.
*Disclaimer: Major Players sorted in no particular order
India Online Accommodation Market News
- On 11 Feb 2022, OYO partnered with Jammu and Kashmir administration to launch a rural tourism initiative "Crown of Incredible India" to give boost to tourism industry. Under this OYO is also going to partner with Central goverment's "Mission Youth" program to open homestays across 75 villages.
- On 3 Feb 2022, InterGlobe Air Transport (IGAT) an airline and travel management firm partnered with Bedsonline a booking firm and online supplier of global accommodation for travel agencies. IGAT will act as a general sales agent for Bedsonline in India. Through this partnership Bedsonline will be able to expand its market presense in India through IGAT's wide travel distribution network and corporate customer base. While IGAT will be expanding its current business and venturing into new category of hotel booking.
India Online Accommodation Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of Covid-19 in the Industry
5. MARKET SEGMENTATION
5.1 By Platform
5.1.1 Mobile Application
5.2 By Mode of Booking
5.2.1 Third Party Online Portals
5.2.2 Direct / Captive Portals
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Airbnb, Inc.
6.2.2 Expedia, Inc.
6.2.3 ORAVEL STAYS PRIVATE LIMITED
6.2.4 Booking .com
6.2.5 Agoda Company Pte. Ltd.
6.2.6 Trip advisor
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
India Online Accommodation Market Research FAQs
What is the current India Online Accommodation Market size?
The India Online Accommodation Market is projected to register a CAGR of greater than 10% during the forecast period (2023-2028).
Who are the key players in India Online Accommodation Market?
Airbnb, Inc., Expedia, Inc., ORAVEL STAYS PRIVATE LIMITED, Booking.com and Agoda Company Pte. Ltd. are the major companies operating in the India Online Accommodation Market.
India Online Accommodation Industry Report
Statistics for the 2023 India Online Accommodation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Online Accommodation analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.