India Online Accommodation Market to Grow with a CAGR of 10.04% through 2030F
The India Online Accommodation Market is growing due to increasing internet penetration, rising
disposable incomes, and the growing preference for convenient, cost-effective,
and easily accessible booking options for travel and stays.
According
to TechSci Research report, “India Online Accommodation Market – By Region, Competition Forecast & Opportunities, 2020-2030F”, the India Online Accommodation Market was
valued at USD 8.24 Billion in 2024 and is expected to reach USD 14.58 Billion
by 2030 with a CAGR of 10.04%% during the forecast period. The India Online Accommodation Market
has witnessed remarkable growth in recent years, driven by an increasing
digital shift in the travel and tourism sector. With the widespread use of
smartphones, affordable internet access, and evolving consumer behavior, the
online accommodation industry has evolved into a vital segment of the broader
tourism market in India. The convenience, accessibility, and growing variety of
accommodation options available through online platforms have made it easier
for Indian travelers to explore both domestic and international destinations.
The market has become increasingly fragmented, with several key players such as
OYO, MakeMyTrip, Booking.com, and Airbnb offering distinct services that cater
to different customer needs.
Several factors have contributed to the
rapid growth of India’s online accommodation market. One of the primary drivers
is the rapid penetration of smartphones and affordable internet access. With
India’s mobile subscriber base reaching over 1.1 billion, the country has
become a global leader in mobile internet usage. The increasing accessibility
of the internet, especially through 4G and 5G networks, has enabled a
significant portion of the population to access online accommodation services,
making it more convenient for travelers to browse and book stays on-the-go.
Additionally, the rise of mobile applications for booking accommodation has
been instrumental, as platforms like OYO, MakeMyTrip, and Airbnb offer seamless
user experiences through their apps.
Another critical driver is the growing
tourism industry, both domestic and international. India’s tourism sector has
become a significant contributor to the country’s economy, with millions of
domestic and international tourists visiting various regions of the country.
The government’s initiatives to promote tourism, such as the "Incredible
India" campaign and the introduction of e-visa facilities, have further
enhanced the appeal of India as a travel destination. The increase in tourism
has fueled demand for a variety of accommodation options, from budget hotels to
luxury stays, and online platforms have played a crucial role in meeting this
demand by offering a wide range of choices.
Technology has played a pivotal role in
transforming the India Online Accommodation Market. The integration of
Artificial Intelligence (AI), Machine Learning (ML), and data analytics has
revolutionized how consumers search for and book accommodations. AI-driven
recommendations and dynamic pricing algorithms allow online accommodation
platforms to personalize the user experience, offering tailored suggestions
based on the consumer’s past searches, preferences, and behavior. This has
improved customer satisfaction by providing relevant options and enhancing the
booking process.
Additionally, the integration of
voice-assisted technology has gained traction in the market. Platforms like
MakeMyTrip, in partnership with Microsoft, have introduced voice-assisted
booking features, allowing users to make bookings in regional languages. This
development makes the booking process more accessible to a wider audience,
including those who may not be comfortable using traditional methods of booking
through websites or apps. Furthermore, innovations like virtual reality (VR)
property tours, instant booking confirmations, and automated check-ins have
enhanced the overall customer experience, making it more convenient and
interactive.
Browse
over xx market data Figures spread through xx Pages and an in-depth TOC on
"India Online Accommodation Market”
The India Online
Accommodation Market is segmented into platform, mode of booking and region.
Based
on booking mode, Third-Party
Online Portals segment is the fastest-growing booking mode in the India Online
Accommodation Market. These platforms, such as MakeMyTrip, Goibibo, and
Booking.com, have gained significant popularity due to their convenience, wide
range of options, and competitive pricing. They offer users the ability to
compare prices, read reviews, and access special deals all in one place. This
convenience, combined with secure payment options and customer support, has
made third-party portals the preferred choice for many travelers. The rapid
adoption of digital platforms, along with increasing consumer trust, continues
to drive the growth of this segment.
Based
on region, West region is the fastest-growing in the India online accommodation
market. Key states like Maharashtra, Gujarat, and Rajasthan are driving this
growth, with cities such as Mumbai, Pune, and Jaipur attracting both business
and leisure travelers. The region’s strong infrastructure, including well-connected
airports and transportation networks, enhances its appeal. Additionally,
increasing smartphone penetration and internet access have made online
accommodation bookings more accessible. The demand for diverse accommodation
options, ranging from luxury hotels to heritage stays, along with government
initiatives promoting tourism, further fuel the growth in this region.
Major companies
operating in India Online Accommodation Market are:
- MakeMyTrip.com
- Booking.com
- IRCTC
- EaseMyTrip.com
- Goibibo
- OYO
Rooms
- Trivago
- Cleartrip
- Agoda
- EaseMyTrip
Download Free Sample Report
Customers can
also request for 10% free customization in this report.
“The India Online Accommodation Market is
expected to continue its growth trajectory. With the increasing penetration of
smartphones and mobile internet, the demand for online accommodation booking
services is poised to rise, particularly in tier 2 and tier 3 cities where
internet usage is growing rapidly. Moreover, the continued expansion of domestic
tourism and the resurgence of international travel will further fuel demand for
diverse accommodation options. The trend toward personalized experiences,
sustainability, and digital payments will continue to shape the future of the
market. Platforms will increasingly focus on offering value-added services,
such as curated travel packages, loyalty programs, and unique stays, to attract
and retain customers. ” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“India Online Accommodation Market By Platform (Mobile Application, Website), By Mode of Booking (Third Party Online Portals, Direct/Captive Portals), By Region, Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential
of India Online Accommodation Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
the India Online Accommodation Market.
Contact
TechSci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com