Global AR/VR in Travel & Tourism Market is driven by the increased demand for travel and hospitality services in the virtual world across the globe, raising the interest adoption of numerous AR and VR tourism and travel services. Augmented reality (AR) is a technology that changes users' perception of their physical surroundings when viewed through a digital device. AR technology does not replace the real-world environment but augments it by overlaying digital components. The most prominent instance of augmented reality is Pokémon Go. However, technology expands into the world of marketing. The market players usually use AR to add graphics and useful information to an environment viewed through an AR device. The experience of augmented reality technology has been gained through a smartphone, tablet, or other similar devices which is the less expensive option for the consumers than most virtual reality-enabled headsets. In many cases, AR also works with mobile technologies, including cameras and GPS tracking.

The market size of the global AR and VR market is projected to be growing at a high CAGR, reaching USD 304.4 million by 2023. In 2020, the direct contribution to GDP growth from the tourism sector was about USD 4.7 trillion, despite the pandemic. North America is as of now home to the biggest portion of the travel industry related AR and VR, because of developing venture by movement organizations in cutting edge AR/VR apparatuses. As far as it matters for its, Asia Pacific is supposed to demonstrate the locale with the quickest development, on account of government drives to advance and support the movement business. Some of the most promising areas of AR/VR in travel and tourism sectors include games, navigation, travel booking services, and hospitality.

The most substantial benefits of using AR travel applications include alteration and improvements of the perceptions of the user for their physical surroundings. The AR/VR technology engage with the users to offer them with an interactive and immersive virtual experience. It is estimated that the number of AR users will reach 2.4 billion by 2023. Travel agencies are expected to take advantage of this trend to create unique customer offers.

Rise in the Metaverse is Fueling the Market Growth

The metaverse is regarded as the next iteration for the internet, where the user can experience the physical and digital worlds all-together while seating at one place. As the evolution of social technologies is rising, the metaverse allows digital representations of people, and avatars, to interact with each other in a variety of settings. The user can experience the virtual world at work as well as at home, along with the experience of trying on clothes. Additionally, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, AR glasses, and smartphone apps. Thus, the rise in the adoption of metaverse technology is, in turn, augmenting the growth of AR/VR in Travel & Tourism across the globe.

Enhancement in the User Experience is Driving the Market Growth

Virtual reality (VR) technologies augment a wide range of travel experiences by offering users interactive 3D tours that promote virtual walkthroughs around various locations. VR is an excellent tool for travel agencies that want to attract more bookings and enhance sales. For instance, the company Amadeus has developed and tested its Virtual Reality (VR) Search and Booking Experience service as an online travel booking option for the local public. VR is also expected to help customers by enabling them to encounter the place before spending money on an actual trip. Alternatively, agencies can sell VR trips and provide users with special equipment like helmets and other hardware for delivering an immersive user experience.

Technology Enhancement by Key Players is Driving the Market Growth

The key players are enhancing their technologies to offer technologically advanced services to the users of the Tourism & Travel Sector. For instance, HTC Corporation has introduced a VR Wireless Headset, HTC Vive, equipped with an input controller to enhance the 360-degree VR experience. Microsoft Corporation focuses primarily on developing and engineering softwares, personal computers along with services, and numerous consumer electronics. Microsoft has also launched its mixed reality (MR) mounted with display, which offers holographic Augmented Reality experience.


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Market Segmentation

Based on Technology, the market is segmented into Augmented Reality and Virtual Reality. Based on Component, the market is divided into Hardware, Software, and Services. Based on Application, the market is fragmented into Hospitality, In-Flight Entertainment, Travel Booking Services, AR Gamification, and Navigating. Based on Product, the market is distributed into AR-Powered Glasses, AR Mobile Apps/Software, and VR Headsets. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

VizioFly Pte Ltd, World Travel VR, INC, Ascape VR, Zco Corporation, Cubix, VARS, Giga Works FZE, The Amsterdam VR Company B.V., InfinitoVFX Studios Pvt Ltd, Ignition Immersive Pty. Ltd. are among the major market players in the global platform that lead the market growth of the global AR/VR in Travel & Tourism market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Technology

Component

Application

Product

Region

Regional Scope

Asia-Pacific, North America, Europe, Middle East & Africa, and South America

Country Scope

China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia

Key Companies Profiled

VizioFly Pte Ltd, World Travel VR, INC, Ascape VR, Zco Corporation, Cubix, VARS, Giga Works FZE, The Amsterdam VR Company B.V., InfinitoVFX Studios Pvt Ltd, Ignition Immersive Pty. Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global AR/VR in Travel & Tourism market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • AR/VR in Travel & Tourism Market, By Technology:
    • Augmented Reality
    • Virtual Reality
  • AR/VR in Travel & Tourism Market, By Component:
    • Hardware
    • Software
    • Services
  • AR/VR in Travel & Tourism Market, By Application:
    • Hospitality
    • In-Flight Entertainment
    • Travel Booking Services
    • AR Gamification
    • Navigating
  • AR/VR in Travel & Tourism Market, By Product:
    • AR-Powered Glasses
    • AR Mobile Apps/Software
    • VR Headsets
  • AR/VR in Travel & Tourism Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy
    • Middle East & Africa
      • Israel
      • Turkey
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global AR/VR in Travel & Tourism market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global AR/VR in Travel & Tourism Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at sales@techsciresearch.com

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1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global AR/VR in Travel & Tourism Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Influencing Purchase Decision

5.3.  Key Satisfaction Level

5.4.  Challenges Faced Post Purchase

5.5.  Prominent Type of Application

6.    Global AR/VR in Travel & Tourism Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Technology (Augmented Reality, Virtual Reality)

6.2.2.    By Component (Hardware, Software, Services)

6.2.3.    By Application (Hospitality, In-Flight Entertainment, Travel Booking Services, AR Gamification, Navigating)

6.2.4.    By Product (AR-Powered Glasses, AR Mobile Apps/Software, VR Headsets)

6.2.5.    By Region

6.2.6.    By Company

6.3.  Market Map

7.    North America AR/VR in Travel & Tourism Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Technology

7.2.2.    By Component

7.2.3.    By Application

7.2.4.    By Product

7.2.5.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States AR/VR in Travel & Tourism Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Technology

7.3.1.2.2.           By Component

7.3.1.2.3.           By Application

7.3.1.2.4.           By Product

7.3.2.    Canada AR/VR in Travel & Tourism Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Technology

7.3.2.2.2.           By Component

7.3.2.2.3.           By Application

7.3.2.2.4.           By Product

7.3.3.    Mexico AR/VR in Travel & Tourism Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Technology

7.3.3.2.2.           By Component

7.3.3.2.3.           By Application

7.3.3.2.4.           By Product

8.    Asia-Pacific AR/VR in Travel & Tourism Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Technology

8.2.2.    By Component

8.2.3.    By Application

8.2.4.    By Product

8.2.5.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China AR/VR in Travel & Tourism Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Technology

8.3.1.2.2.           By Component

8.3.1.2.3.           By Application

8.3.1.2.4.           By Product

8.3.2.    Japan AR/VR in Travel & Tourism Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Technology

8.3.2.2.2.           By Component

8.3.2.2.3.           By Application

8.3.2.2.4.           By Product

8.3.3.    South Korea AR/VR in Travel & Tourism Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Technology

8.3.3.2.2.           By Component

8.3.3.2.3.           By Application

8.3.3.2.4.           By Product

8.3.4.    India AR/VR in Travel & Tourism Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Technology

8.3.4.2.2.           By Component

8.3.4.2.3.           By Application

8.3.4.2.4.           By Product

8.3.5.    Australia AR/VR in Travel & Tourism Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Technology

8.3.5.2.2.           By Component

8.3.5.2.3.           By Application

8.3.5.2.4.           By Product

9.    Europe AR/VR in Travel & Tourism Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Technology

9.2.2.    By Component

9.2.3.    By Application

9.2.4.    By Product

9.2.5.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany AR/VR in Travel & Tourism Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Technology

9.3.1.2.2.           By Component

9.3.1.2.3.           By Application

9.3.1.2.4.           By Product

9.3.2.    United Kingdom AR/VR in Travel & Tourism Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Technology

9.3.2.2.2.           By Component

9.3.2.2.3.           By Application

9.3.2.2.4.           By Product

9.3.3.    France AR/VR in Travel & Tourism Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Technology

9.3.3.2.2.           By Component

9.3.3.2.3.           By Application

9.3.3.2.4.           By Product

9.3.4.    Italy AR/VR in Travel & Tourism Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Technology

9.3.4.2.2.           By Component

9.3.4.2.3.           By Application

9.3.4.2.4.           By Product

9.3.5.    Spain AR/VR in Travel & Tourism Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value 

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Technology

9.3.5.2.2.           By Component

9.3.5.2.3.           By Application

9.3.5.2.4.           By Product

10. South America AR/VR in Travel & Tourism Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Technology

10.2.2. By Component

10.2.3. By Application

10.2.4. By Product

10.2.5. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil AR/VR in Travel & Tourism Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Technology

10.3.1.2.2.         By Component

10.3.1.2.3.         By Application

10.3.1.2.4.         By Product

10.3.2. Argentina AR/VR in Travel & Tourism Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Technology

10.3.2.2.2.         By Component

10.3.2.2.3.         By Application

10.3.2.2.4.         By Product

10.3.3. Colombia AR/VR in Travel & Tourism Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Technology

10.3.3.2.2.         By Component

10.3.3.2.3.         By Application

10.3.3.2.4.         By Product

11. Middle East & Africa AR/VR in Travel & Tourism Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value

11.2.             Market Share & Forecast

11.2.1. By Technology

11.2.2. By Component

11.2.3. By Application

11.2.4. By Product

11.2.5. By Country

11.3.             Middle East & Africa: Country Analysis

11.3.1. Israel AR/VR in Travel & Tourism Market Outlook

11.3.1.1.