India OTA market seen at Rs 3.84 lakh crore by FY28 on 13% CAGR, AI tailwinds
Motilal Oswal projects India's online travel agency market to nearly double from Rs 2.08 lakh crore in FY23 to Rs 3.84 lakh crore by FY28, with online channel share climbing from 54% to 65%. AI-led personalization and dynamic pricing are reshaping bookings as the global OTA pool heads to $1.19 trillion by 2029.
What happened
Indian OTA market · Motilal Oswal report projects India's online travel agency market to grow at 13% CAGR from Rs 2.08 lakh crore (FY23) to Rs 3.84 lakh crore
Key facts
- Rs 3.84 lakh crore by FY28
- Rs 2.08 lakh crore in FY23
- 13% CAGR
- online channel share 54% to 65% by FY28
- global OTA $938bn 2025 to $1.19tn 2029, 6.1% CAGR
Why this matters
The projected near-doubling of India's OTA market to Rs 3.84 lakh crore by FY28 creates a window to acquire AI-capable booking tech or niche travel platforms before valuations reset upward on this consensus thesis.