ClearTrip emerges as fastest growing OTA: Travel market study

Cleartrip, a Flipkart company, has been declared as the second-largest OTA player in the country by a recent in-depth OTA benchmarking research study by VIDEC.

Ayyappan R, CEO, Cleartrip stated, “This move is a milestone in Cleartrip’s journey and is a testament to our commitment to customer-centricity and sustainable growth. Travel is a massive industry that has witnessed rapid growth and is expected to scale further heights. We believe that we are in the right position to innovate and bring about disruption through technology. This is a new chapter for Cleartrip and by no means the end destination. We will continue to curate value-led constructs, expand our product categories, innovate on behalf of our customers, and make travel an affordable and accessible aspiration for all.”

VIDEC, a boutique research company with a singular focus on the global travel industry has conducted the current study – Indian OTA Landscape: India Travel Market Sizing, OTA Benchmarking & Consumer Insights. The report encapsulates the market sizing, segmentation, OTA benchmarking, and travel consumer insights for the Indian travel marketplace through executive interviews with suppliers, travel distributors OTAs, and travel technology providers operating in India.

Shedding light on the key research findings, Virendra Jain, Co-Founder and CEO at VIDEC said, “Led by the OTAs, the India travel market has made a resounding recovery to INR 3,892 billion (USD 48.7 billion) in FY23 and is estimated to reach INR 5,787 billion (USD 72.4 billion) in FY26. Air would continue to be the largest travel category at INR 1,743 billion (USD 21.8 billion) in FY23, the growth henceforth would equally come from the rise in Indian international demand and non-air categories. The ground category will fuel the often talked about the ‘next billion Indian opportunity’.”

Read original story on ET Travel News.