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Travel Services Market in India to Grow by USD 21.21 Billion from 2024-2028, Driven by M&A, Partnerships, and Strategic Alliances, with AI Powering Market Evolution – Technavio

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NEW YORK, Oct. 1, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Travel Services Market in India  size is estimated to grow by USD 21.21 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.42%  during the forecast period. Increase in number of M and A, partnerships, and strategic alliances is driving market growth, with a trend towards introduction of low-cost airlines. However, intense competition among players leading to price wars  poses a challenge – Key market players include Airbnb Inc., ANI Technologies Pvt. Ltd., Booking Holdings Inc., Cleartrip Pvt. Ltd., Easy Trip Planners Ltd, Expedia Group Inc., Indian Railway Catering and Tourism Corp. Ltd, ITC Ltd., Kesari Tours Pvt. Ltd., Le Travenues Technology Ltd, Mahindra and Mahindra Ltd., MakeMyTrip Ltd., Oravel Stays Ltd., The Travel Corp., Thomas Cook India Ltd., Treebo Hotels, TripAdvisor Inc., Uber Technologies Inc., and Yatra Online Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Mode Of Booking (Online and Offline), Service (Domestic flight services, Hotel accommodation services, Rail ticket services, Cab services, and Others), and Geography (APAC)

Region Covered

India

Key companies profiled

Airbnb Inc., ANI Technologies Pvt. Ltd., Booking Holdings Inc., Cleartrip Pvt. Ltd., Easy Trip Planners Ltd, Expedia Group Inc., Indian Railway Catering and Tourism Corp. Ltd, ITC Ltd., Kesari Tours Pvt. Ltd., Le Travenues Technology Ltd, Mahindra and Mahindra Ltd., MakeMyTrip Ltd., Oravel Stays Ltd., The Travel Corp., Thomas Cook India Ltd., Treebo Hotels, TripAdvisor Inc., Uber Technologies Inc., and Yatra Online Inc.

Key Market Trends Fueling Growth

Travel in India is predominantly done via airlines due to their comfort and efficiency, especially for tourists and frequent travelers. However, the cost of air travel, particularly for families or large groups, is significantly higher than other modes like rail or bus. This cost burden can be alleviated by the emergence of low-cost airlines, a response to the intensifying competition in the aviation industry. These budget carriers have not only made air travel more affordable for individual travelers but also encouraged businesses to opt for air travel for cost-effective business trips. Furthermore, the availability of low-cost air tickets has positively impacted the tourism industry, leading to increased demand and attracting global investment. For instance, Etihad Airways, in partnership with Air Arabia, is planning to launch a low-cost airline in India, further fueling the growth of the travel services market in the country during the forecast period.

The Indian travel services market is witnessing significant growth, with rail bookings and car rental services leading the way. Corporations and individual travelers alike are increasingly relying on travel providers for itinerary planning and booking flights, accommodations, and transportation for trips, both domestic and international. Offline travel services continue to coexist with direct and indirect travel services, catering to various traveler preferences. Travelers can now easily generate visas and travel documents online or in person. Multi-destination trips, group travel, and corporate travel are popular trends. Direct travel suppliers offer packages for independent travelers, while online travel agents provide convenience through desktop and mobile platforms. Car hire services are also on the rise, with phone booking and online booking options. The tourism industry continues to expand, with international tourism driving growth. Overall, the travel services market in India is dynamic and evolving to meet the diverse needs of travelers.

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Market Challenges

The travel services market in India is characterized by intense competition among global, regional, and local vendors. Global vendors dominate the market but face stiff competition from other players. Vendors invest in R&D to offer advanced services for various occasions and end-users. Regional and local vendors compete on unique offerings. Price wars due to discounts negatively impact profit margins. Lack of awareness and trust issues among rural population, along with limited access to online platforms, restrict their use of travel services. The growing popularity of self-driven vehicles intensifies competition and compels vendors to sell at reduced profit margins, posing challenges to the growth of the travel services market in India.The Travel Services Market in India is thriving, with tourism seeing significant growth in both domestic and international sectors. However, challenges persist in areas like visa generation process and travel document requirements. Travel planning and trip planning are essential for individual travelers and group travel, including corporate travel and tour groups. Flights, itineraries, and multi-destination trips are popular choices. Car hire, phone booking, and online booking are preferred methods for many business professionals. Domestic and international travelers opt for hotels, direct travel suppliers, and online travel agents for accommodation. The rise of mobile apps and low-cost airlines caters to solo travelers and adventure seekers. Eco-tourism, medical tourism, and educational tourism are niche markets. AI and robotics, sharing economy, and package travelers continue to impact the industry. Online travel services, including flight bookings and hotel booking services, remain in high demand. Cruise bookings are also gaining popularity.

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Segment Overview 

This travel services market in India report extensively covers market segmentation by

Mode Of Booking1.1 Online1.2 OfflineService 2.1 Domestic flight services2.2 Hotel accommodation services2.3 Rail ticket services2.4 Cab services2.5 OthersGeography 3.1 APAC

1.1 Online- 

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Research Analysis

The Travel Services Market in India is a vibrant and dynamic industry, catering to the diverse needs of millions of domestic and international travelers. Air travel continues to be a major segment, with the increasing adoption of AI and robotics for seamless check-in and baggage handling. The sharing economy is also making waves, with platforms like Airbnb and Uber providing affordable accommodation and transportation options. Solo travelers, adventure seekers, and eco-tourists are also driving demand for unique and personalized travel experiences. Low-cost airlines and online travel agents are making air travel and itinerary planning more accessible than ever before, while medical and educational tourism are growing niches. Travelers can now easily book flights, accommodations, and trips on desktop or mobile, with the convenience of mobile apps and package travel offers.

Market Research Overview

The Travel Services Market in India is a thriving industry, catering to various segments of travelers, from individual adventurists to corporate professionals. Air travel is a significant part of this market, with both low-cost and full-service airlines offering competitive prices and routes. Online travel services have revolutionized the industry, allowing travelers to book flights, accommodations, transportation, and tour packages with just a few clicks. AI and robotics are being integrated into travel services, providing personalized recommendations and seamless booking processes. The sharing economy, including homestays and car rentals, is also gaining popularity. Solo travelers, adventure seekers, eco-tourists, medical tourists, and educational travelers all find a place in this diverse market. Travelers can choose from direct or indirect travel services, book in person or online, and plan multi-destination trips or group travel. Corporations and business professionals also rely on travel services for corporate travel and accommodation needs. Travel documents, itinerary planning, and visa generation processes are essential services offered by travel providers. Travelers can access these services on desktops and mobile devices, with the convenience of mobile apps and online booking systems. Domestic and international travelers alike can explore various tour experiences, from budget to luxury, using travel services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Mode Of BookingOnlineOfflineServiceDomestic Flight ServicesHotel Accommodation ServicesRail Ticket ServicesCab ServicesOthersGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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AdaKami Contributes to National Dialogue on Strengthening Fraud Risk Management

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JAKARTA, Indonesia, April 24, 2026 /PRNewswire/ — The continued rise in digital fraud highlights increasing risks to consumer protection and the sustainability of Indonesia’s digital financial ecosystem. Data from Indonesia Anti-Scam Centre (IASC) under the Financial Services Authority of Indonesia (OJK) recorded over 432,000 digital fraud reports between November 2024 and January 2026, with total losses reaching approximately IDR 9.1 trillion.

In response, AdaKami, a licensed fintech lending platform by OJK, continues to strengthen its fraud risk management framework through enhanced technology capabilities, ongoing user education, and collaborations with stakeholders.

This was reflected at the Executive Policy Collaborative Forum on Handling Digital Fraud and Scams, organized by The Indonesian Digitalization and Cybersecurity Association (ADIGSI) which brought together regulators, cybersecurity authorities, and industry associations including IASC OJK, the National Cyber and Crypto Agency (BSSN), the Indonesia Fintech Lending Association (AFPI), and the Indonesia Fintech Association (AFTECH). The forum underscored the importance of coordinated efforts to strengthen fraud prevention and reinforce the anti-scam governance ecosystem.

Alongside industry and regulatory stakeholders, AdaKami reiterated its commitment and efforts to strengthen fraud prevention, by integrating technology, education, and collaboration as core pillars of consumer protection.

“Fraud and digital scams have evolved into a systemic challenge that requires coordinated action across regulators, industry, and stakeholders,” said Hudiyanto, Head of Secretariat of IASC OJK.

Karissa Sjawaldy, Chief of Public Affairs AdaKami, added: “AdaKami remains committed to strengthening consumer protection by enhancing technology-driven security systems, reinforcing user education, and maintaining close collaboration with regulators and industry partners.”

AdaKami continues to strengthen its security infrastructure through technology advancement, including AI, machine learning, and big data, to protect users on the platform and mitigate  cyber threats. Concurrently, AdaKami recognizes the importance of user awareness in reducing fraud risks. Through ongoing educational initiatives such as the #SelaluWaspada campaign, AdaKami educates users to stay vigilant against evolving fraud schemes, including safeguarding personal information, recognizing common fraud tactics, and engaging only through official verified channels.

AdaKami remains focused on strengthening risk management, enhancing consumer trust, and supporting a more resilient digital financial ecosystem in Indonesia.

***

About AdaKami

Established in 2018, AdaKami is a licensed fintech lending platform in Indonesia, operated by PT Pembiayaan Digital Indonesia and supervised by OJK. AdaKami provides accessible financing through technology-driven, fast, and reliable services, bridging the gap between traditional financial institutions and underserved communities. More information: www.adakami.id

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RWA.LTD Announces Comprehensive Consumer Goods Token Ecosystem Layout at Hong Kong Web3 Festival, Leading the Launch of the Consumer RWA Alliance

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HONG KONG, April 24, 2026 /PRNewswire/ — During the Hong Kong Web3 Festival, RWA.LTD, the world’s first platform dedicated to consumer goods RWA (Real World Assets), officially announced the completion of its comprehensive consumer goods token ecosystem layout. At the event, the platform spearheaded the unveiling of the “Consumer RWA Alliance”. Positioned as the “Asian Consumer Goods Asset Trading Center,” RWA.LTD aims to enhance consumption efficiency through AI, reconstruct value distribution via Web3, and connect cross-city and cross-country consumer networks through tokens to accelerate the arrival of the “Smarter Consumer” era.

RWA.LTD stated that consumer goods RWA is not a single product, but a set of new infrastructure developed around consumption scenarios, the circulation of consumer rights, and brand interaction. Since CEO Fu, Rao Tony first proposed the concept of “Consumer Goods RWA” in late 2024, the team simultaneously prepared the RWA.LTD platform and completed Beta testing in September 2025. Following several months of iteration, the platform completed a comprehensive upgrade in mid-March 2026, marking RWA.LTD’s formal transition from the proof-of-concept stage to the ecological development stage.

RWA.LTD Ecosystem

In this public announcement, RWA.LTD systematically disclosed its four major ecological sectors for the first time. First, RWA.LTD | Mall (Winpoint Mall) was officially launched during the Hong Kong Web3 Festival, providing consumers with diverse brand rights driven by RWA Coin; current offerings include the CDAA (Chartered Digital Asset Analyst) Course, Matrix E-commerce Services, and more. Second, RWA.LTD | Exchange was fully launched in mid-March 2026 as a primary issuance and secondary trading market for consumer goods tokens, with plans to list 100 types of consumer goods tokens within the year to provide bidirectional exposure for brands and users. Third, RWA.LTD | Fund plans to collaborate with established VC funds to focus on brand token ecosystem construction and explore new paths for the synergistic development of consumer brands and on-chain capital. Fourth, RWA.LTD | Bot (rwaclaw.ai, rwabot.ai) has completed domain layout and is currently under development; it will provide consumers with real-time AI price comparisons, intelligent recommendations, and automated ordering tools to enhance decision-making efficiency and consumer experience.

RWA.LTD believes that the traditional consumer market has long suffered from information asymmetry, price opacity, and inactive membership systems, while the combination of blockchain and AI provides a new consumption model. By standardizing, digitizing, and placing consumer rights on-chain, consumers are no longer just end-buyers but can become active participants in the consumption network; brands are no longer limited to one-time interactions with consumers but can build stable, sustainable consumer relationships through on-chain tools.

Consumer RWA Alliance

At the Hong Kong Web3 Festival, the Consumer RWA Alliance, spearheaded by RWA.LTD, was inaugurated. The alliance aims to unite consumer brands, channel platforms, technology service providers, ecological partners, and cross-regional resource providers to jointly promote the co-construction of standards, ecological synergy, and scenario implementation for consumer goods RWA. The alliance members attending the unveiling ceremony included Dr. and Professor Lawrence Yu, Founder and Chairman of the Asia Pacific Economic Leaders’ Confederation; Dr. Wang Ping, President of the RWA Ecological International Federation and Chairman of the Asia Pacific M&A Fund; Dou Jun, Secretary General of the Hong Kong RWA Global Industry Alliance and Executive Secretary General of the Blockchain Professional Committee of the China Communications Industry Association (CCIA); Dr. Yu Jianing, Principal of Uweb Business School (Hong Kong) and Rotating Chairman of the Academic Committee of the Hong Kong Certified Digital Asset Analysts Association (HKCDAA); Dr. Jingle, Founder of Hong Kong Meta Strategy; Dr. Qiu Yueying, CEO of Winchain Technology; Tongjian Sun, CEO of INOVAI TECH K.K.; and Wen Hua, Director of the Australia & New Zealand Center of the Hong Kong RWA Global Industry Alliance, with RWA.LTD CEO Fu, Rao Tony serving as the Chairman. The establishment of the alliance marks an important step for consumer RWA moving from platform exploration to industry collaboration, signifying that the RWA narrative is extending from the relatively singular field of financial assets to the consumer industry which is more closely related to real life.

Industry insiders pointed out that the establishment of the Consumer RWA Alliance holds industry significance beyond platform business. On one hand, it helps break the market’s inherent impression of RWA as being “over-financialized” and encourages the outside world to re-recognize the application value of RWA as digital infrastructure in real consumption scenarios. On the other hand, it provides a new organizational framework for the Asian consumer market, making cross-regional brand cooperation, mutual recognition of consumer rights, and on-chain circulation mechanisms more operational. RWA.LTD stated that it hopes to promote the formation of a more diverse, open, and sustainable RWA world through the alliance mechanism, making RWA not just a synonym for asset securitization, but also a key driver for consumer innovation and industrial upgrading.

Regarding compliance issues of market concern, RWA.LTD provided a brief explanation in this announcement. Consumer goods tokens do not fall within the definition of “virtual assets” under Section 53ZRA of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), as they are neither payment tokens nor governance tokens. Even if there is overlap in certain characteristics, the relevant tokens can ultimately be defined as “Limited Purpose Digital Tokens” under Section 53ZR of the AMLO, which are explicitly excluded from the scope of “virtual asset” in the AMLO. Based on this, RWA.LTD does not fall within the regulatory scope of the Virtual Asset Trading Platform (VATP) licensing regime. Meanwhile, the U.S. SEC’s previous No-Action Letter to the Fuse project, along with the definition of “Digital Tools” in the regulatory interpretation published on March 17, 2026, further supports the stance that consumer goods tokens are non-securities, non-commodities, and are not regulated under the virtual asset framework. RWA.LTD emphasized that the company consistently adheres to advancing product design and business development within a compliance framework and will continue to monitor regulatory dynamics in different jurisdictions.

The RWA.LTD team possesses a rich international background and overseas market experience, having long followed the development trends of the Web3 and RWA markets in Europe and the United States. The team observed early on that the Asian RWA market has long been concentrated on financial narratives with relatively monotonous scenarios, and platforms that truly integrate deeply with mass consumption and high-frequency lifestyle scenarios remain scarce. Consequently, the team began preparing the consumer goods RWA platform as early as 2024, hoping to take the lead in completing infrastructure, model verification, and resource integration before an industry consensus was formed.

RWA.LTD CEO Fu, Rao Tony pointed out that consumer goods RWA is currently one of the directions most likely to land and scale quickly. Compared to financial RWA, consumer goods RWA has a stronger efficient foundation in terms of compliance structure, user understanding, scenario adaptation, and promotion paths. Its core value lies in using blockchain technology to release liquidity that the consumer industry has long lacked, allowing consumer rights—which were originally fragmented, dormant, non-tradable, or difficult to circulate across regions—to achieve more efficient allocation and redistribution. Through this mechanism, the relationship between brands, platforms, and consumers will be redefined.

Fu, Rao Tony further stated that as the digitalization of the Asian consumer market continues to improve, the combination of consumer RWA and the real consumer industry is expected to release trillion-dollar economic potential in the future. For Hong Kong, this is not just an emerging Web3 track, but could become an important hub connecting international consumer networks with digital asset innovation. Hong Kong possesses unique advantages as an international financial center, an international trade center, and a highland for institutional innovation. If it can take the lead in forming scale synergy in the field of consumer RWA, it has the opportunity to occupy a leading position in the global wave of consumer asset digitalization.

In the future, RWA.LTD will continue to advance its layout around consumer goods RWA infrastructure construction, ecological cooperation expansion, alliance network improvement, and AI consumer tool research and development, exploring new on-chain paradigms for the consumer industry with more brands, institutions, and partners. As the Mall, Exchange, Fund, and Bot sectors gradually mature, RWA.LTD hopes to drive consumer RWA from concept to large-scale application, providing a more efficient, intelligent, and participatory new value network for the Asian and global consumer markets.

About RWA.LTD

RWA.LTD is positioned as the Asian consumer goods asset trading center, committed to enhancing consumption efficiency with AI, reconstructing consumer value distribution with Web3, and establishing cross-city and cross-country consumer alliance networks via tokens. The company focuses on the consumer goods RWA track, continuously promoting the digitalization of consumer rights, the circulation of consumer assets, and the synergy of the consumer ecosystem to explore the future consumption model of “Smarter Consumer”.

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Fox ESS Ranks No. 1 Globally in Residential Energy Storage

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WENZHOU, China, April 23, 2026 /CNW/ — Fox ESS, a global leader in renewable energy solutions, has been ranked No. 1 among residential energy storage providers worldwide for 2025, based on MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker.

The report also places Fox ESS at No. 1 in Germany and the UK, highlighting the company’s momentum in key markets and expanding distribution footprint.

Compared with 2024, Fox ESS’s global market share rose 50% in 2025, reinforcing its position in a rapidly growing residential storage sector. The company has continued to scale internationally, with global headcount doubling from the end of 2024. As of April 2026, Fox ESS employs more than 5,000 people worldwide, and has added local support through new offices, including in Sydney, Australia.

“We’re thrilled for this remarkable achievement. It reflects our commitment to innovation and product quality, and to making clean, reliable energy practical for households around the world,” said Michael Zhu, CEO of Fox ESS. “We will continue pushing the boundaries to deliver solutions that help homes and businesses move toward energy independence.”

Notably, Fox ESS has launched the Champion’s Choice campaign globally, combining the endorsement of sports champions with recognition from prestigious organizations. With the first stop in Australia, the company signed Ian Thorpe, a five-time Olympic champion last December. The campaign underscores Fox ESS’s ambition to deliver better value for customers and partners.

Fox ESS is committed to building long-term trust with customers and partners. The company delivers reliable, high-quality energy storage systems engineered for consistent performance, supported by rigorous quality-control processes designed to help ensure every product meets the highest standards.

Fox ESS develops solutions that serve both installers and end users. With ongoing investment in R&D, the company stays ahead of evolving market needs, helping installers work more efficiently while enabling homeowners to move toward energy transition and reduce electricity costs.

With a team of more than 400 experts in R&D, Fox ESS continues to refine its product design for easier transportation, installation, and everyday use. The AI-powered FoxCloud app also makes energy management more intuitive, enabling users to monitor and control home energy consumption, manage smart devices, and track detailed generation and usage data in a single streamlined platform, delivering greater peace of mind.

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