AR/VR in Travel & Tourism Market

Global AR/VR in Travel & Tourism Market Size, Trends & Analysis - Forecasts to 2027 By Technology (Augmented Reality, Virtual Reality), By Application (Hospitality, In-Flight Entertainment, Travel Booking Services, AR Gamification, Navigating), By Product (AR-Powered Glasses, AR Mobile Apps/Software, VR Headsets), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Company Market Share Analysis, and Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology

Format

This report was recently updated on April 13 2024 with the latest and most recent market numbers

AR/VR in Travel & Tourism Market Size

The Global AR/VR in Travel & Tourism Market is projected to grow at a high CAGR value from 2022 to 2027. During the forecast period, the market demand would be driven by the increasing demand for travel and tourism services from diverse regions and accelerated investments in AR/VR in the travel and tourism ecosystem to enhance the demand for their products and services. Globally, travel and tourism's direct contribution to GDP was approximately 4.7 trillion U.S. dollars in 2020.

VR technology in travel & tourism has immense potential as a marketing device for helping to increase consumer awareness and create strong marketing drives for increasing revenue. While, the tourism industry's increased AR study aims to improve the tourism activities by assisting visitors is mainly attributable information to enhance their knowledge of a tourist spot, all while boosting the tourist experience and creating elevated levels of leisure. The growing demands for travel and tourism among people, as well as their growing application in numerous areas of planning and management, advertising and information exchange, recreation, education, ease of access, and heritage preservation, are driving market demand for AR/VR in the travel and tourism ecosystem.

The potential for effectively implementing tourism policy and proper management has widened with the assistance of AR/VR technologies in tourism. There is also a significant potential to entertain and educate people via games, interactive activities, and Artificial Intelligence-based Collaborative Systems, which is driving the market growth. By easily modelling and scripting new AR and VR travel tourism experiences, they may be incorporated into current applications and used for geographical marketing, resulting in market development.

A virtual tour of a restaurant or store can be taken using AR/VR technology, as well as other appealing elements such as smartphone access, coupons, and prior reservation capabilities, which may encourage guests to try new dining experiences. Additionally, AR/VR technology may aid non-native travellers who are having difficulty communicating with people due to a language barrier.

The technology could aid in real-time and reliable navigation, room booking, and virtual visits to hotels, restaurants, spas, and fitness centers, all of which are contributing to industry growth. Furthermore, tourists can enjoy rich gourmet restaurants, locate notable historical events, and cultural experiences of surrounding places with this technology, which improves guest satisfaction through efficient marketing and works as a tool in hospitality management boosting growth.

The COVID-19 pandemic has resulted in supply chain restrictions, limited the launch of new products, and restrained the development of new products. However, the World Travel and Tourism Council (WTTC) is asking governments to increase budgets for promoting travel destinations therefore, the market is expected to bounce back during the forecast period.

Nevertheless, the expensive cost of AR/VR software devices, problems with spatial recognition, lack of standardization, and lack of privacy are some of the factors that stymie market growth during the forecast period.

global ar/vr in travel & tourism market

AR/VR in Travel & Tourism Market: By Technology

Based on the technology, the AR/VR in the travel & tourism market is segmented into augmented reality and virtual reality. The AR segment is expected to hold the largest piece of the market during the forecast period. According to a research study, 70% of customers believe that AR will eventually eclipse Virtual Reality (VR) in the months and years ahead. By 2022, the number of AR app downloads could exceed 5.5 billion. AR technology is useful in a variety of industrial applications where sophisticated user perception is required, and it can aid workers in having quick access to vital information and instructions during the production process.

AR/VR in Travel & Tourism Market: By Application

Based on the various application in AR/VR in travel & tourism, the market is segmented into hospitality, in-flight entertainment, travel booking services, AR gamification, and navigating.

The hospitality segment held the lion’s share of the market. Due to the sheer amount of information a customer requires during the booking process, letting the customer experience an augmented model of the room increases customer satisfaction by a factor of ten. By allowing guests to experience nearby sights and tourist attractions, VR integration into a hotel or tourism website can have a significant impact on the local market.

AR/VR in Travel & Tourism Market: By Product

Based on the product in AR/VR in travel & tourism, the market is segmented into AR-powered glasses, AR mobile apps/software, VR headsets. The AR mobile apps/software segment is expected to grow the fastest in the AR/VR in the travel & tourism market from 2022 to 2027. It allows users to superimpose virtual objects onto reality using a smartphone or tablet screen, as well as providing real-time information on the product, location, and composition. It also allows users to perceive an object in a tailored context. The market for augmented reality mobile apps and software has been continuously growing as the technology advances, and it is predicted to reach $4 trillion by 2030, up from $1 trillion in 2017.

asia pacific ar/vr in travel & tourism market

AR/VR in Travel & Tourism Market: By Region

As per the geographical analysis, the AR/VR in travel & tourism market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America). North America (the United States, Canada, and Mexico), will have a dominant share in the AR/VR in travel & tourism market from 2022 to 2027. The region’s strong licensing laws, greater spending on travel and tourism, the large consumption of digital media, and greater spending power of consumers have resulted in the dominance of this region.

Moreover, the Asia-Pacific region is expected to be the fastest-growing segment with 383.2% inbound tourism visitor growth in the Asia-pacific region and China having the largest travel and tourism contribution to GDP. The region's booming tourism industry is fueled by strong GDP growth rates, an emerging middle class, and an increase in disposable income. Furthermore, market growth is being driven by the development of logistics and infrastructure, strict promotion and advertising of tourism destinations by separate governments, and profitable prospects for industry players to launch unique packages for group travelers in the region.

AR/VR in Travel & Tourism Market Share and Competitor Analysis

VizioFly, World Travel VR, Ascape VR, Zco Corporation, Cubix, VARS, Giga Works, The Amsterdam VR Company, Infinito VFX, Immersion VR UK, 3D Walkabout, Ignition Immersive, First Airlines, Google, Oculus, Immersive, among others are the key players in the AR/VR in travel & tourism market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview and Validation

1.4 Data Products

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 AR/VR in Travel & Tourism Industry Overview, 2022-2027

2.1.1 Industry Overview

2.1.2 Technology Overview

2.1.3 Product Overview

2.1.4 Application Overview

2.1.6 Regional Overview

Chapter 3 AR/VR in Travel & Tourism Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2022-2027

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Increasing demands for travel and tourism services from diverse regions

3.3.2 Market Challenges

3.3.2.1 Expensive cost of AR/VR software devices

3.4 Prospective Growth Scenario

3.4.1 Technology Growth Scenario

3.4.2 Product Growth Scenario

3.4.3 Application Growth Scenario

3.5 COVID-19 Influence over Product Growth

3.6 Porter’s Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 End-User Overview

3.11 Market Share Analysis, 2021

3.11.1 Company Positioning Overview, 2021

Chapter 4 AR/VR in Travel & Tourism Market, By Technology

4.1 Product Outlook

4.2 Augmented Reality

4.2.1 Market Size, By Region, 2022-2027 (USD Billion)

4.3 Virtual Reality

4.3.1 Market Size, By Region, 2022-2027 (USD Billion)

Chapter 5 AR/VR in Travel & Tourism Market, By Application

5.1 Product Outlook

5.2 Hospitality

5.2.1 Market Size, By Region, 2022-2027 (USD Billion)

5.3 In-Flight Entertainment

5.3.1 Market Size, By Region, 2022-2027 (USD Billion)

5.4 Travel Booking Services

5.4.1 Market Size, By Region, 2022-2027 (USD Billion)

5.5 AR Gamification

5.5.1 Market Size, By Region, 2022-2027 (USD Billion)

5.6 Navigating

5.9.1 Market Size, By Region, 2022-2027 (USD Billion)

Chapter 6 AR/VR in Travel & Tourism Market, By Product

6.1 AR-Powered Glasses

6.1.1 Market Size, By Region, 2022-2027 (USD Billion)

6.2 AR Mobile Apps/Software

6.2.1 Market Size, By Region, 2022-2027 (USD Billion)

6.3 VR Headsets

6.3.1 Market Size, By Region, 2022-2027 (USD Billion)

Chapter 7 Nuclear Imaging Equipment Market, By Region

7.1 Regional outlook

7.2 North America

7.2.1 Market Size, By Country 2022-2027 (USD Billion)

7.2.2 Market Size, By Application, 2022-2027 (USD Billion)

7.2.3 Market Size, By Product 2022-2027 (USD Billion)

7.2.4 Market Size, By Technology, 2022-2027 (USD Billion)

7.2.6 U.S.

7.2.6.1 Market Size, By Application, 2022-2027 (USD Billion)

7.2.4.2 Market Size, By Product 2022-2027 (USD Billion)

7.2.4.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.2.7 Canada

7.2.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.2.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.2.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.3 Europe

7.3.1 Market Size, By Country 2022-2027 (USD Billion)

7.3.2 Market Size, By Application, 2022-2027 (USD Billion)

7.3.3 Market Size, By Product 2022-2027 (USD Billion)

7.3.4 Market Size, By Technology, 2022-2027 (USD Billion)

7.3.6 Germany

7.3.6.1 Market Size, By Application, 2022-2027 (USD Billion)

7.3.6.2 Market Size, By Product 2022-2027 (USD Billion)

7.3.6.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.3.7 UK

7.3.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.3.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.3.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.3.8 France

7.3.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.3.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.3.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.3.9 Italy

7.3.9.1 Market Size, By Application, 2022-2027 (USD Billion)

7.3.9.2 Market Size, By Product 2022-2027 (USD Billion)

7.3.9.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.3.10 Spain

7.3.10.1 Market Size, By Application, 2022-2027 (USD Billion)

7.3.10.2 Market Size, By Product 2022-2027 (USD Billion)

7.3.10.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.3.11 Russia

7.3.11.1 Market Size, By Application, 2022-2027 (USD Billion)

7.3.11.2 Market Size, By Product 2022-2027 (USD Billion)

7.3.11.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.4 Asia Pacific

7.4.1 Market Size, By Country 2022-2027 (USD Billion)

7.4.2 Market Size, By Application, 2022-2027 (USD Billion)

7.4.3 Market Size, By Product 2022-2027 (USD Billion)

7.4.4 Market Size, By Technology, 2022-2027 (USD Billion)

7.4.6 China

7.4.6.1 Market Size, By Application, 2022-2027 (USD Billion)

7.4.6.2 Market Size, By Product 2022-2027 (USD Billion)

7.4.6.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.4.7 India

7.4.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.4.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.4.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.4.8 Japan

7.4.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.4.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.4.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.4.9 Australia

7.4.9.1 Market Size, By Application, 2022-2027 (USD Billion)

7.4.9.2 Market size, By Product 2022-2027 (USD Billion)

7.4.9.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.4.10 South Korea

7.4.10.1 Market Size, By Application, 2022-2027 (USD Billion)

7.4.10.2 Market Size, By Product 2022-2027 (USD Billion)

7.4.10.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.5 Latin America

7.5.1 Market Size, By Country 2022-2027 (USD Billion)

7.5.2 Market Size, By Application, 2022-2027 (USD Billion)

7.5.3 Market Size, By Product 2022-2027 (USD Billion)

7.5.4 Market Size, By Technology, 2022-2027 (USD Billion)

7.5.6 Brazil

7.5.6.1 Market Size, By Application, 2022-2027 (USD Billion)

7.5.6.2 Market Size, By Product 2022-2027 (USD Billion)

7.5.6.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.5.7 Mexico

7.5.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.5.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.5.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.5.8 Argentina

7.5.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.5.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.5.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.6 MEA

7.6.1 Market Size, By Country 2022-2027 (USD Billion)

7.6.2 Market Size, By Application, 2022-2027 (USD Billion)

7.6.3 Market Size, By Product 2022-2027 (USD Billion)

7.6.4 Market Size, By Technology, 2022-2027 (USD Billion)

7.6.6 Saudi Arabia

7.6.6.1 Market Size, By Application, 2022-2027 (USD Billion)

7.6.6.2 Market Size, By Product 2022-2027 (USD Billion)

7.6.6.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.6.7 UAE

7.6.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.6.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.6.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

7.6.8 South Africa

7.6.7.1 Market Size, By Application, 2022-2027 (USD Billion)

7.6.7.2 Market Size, By Product 2022-2027 (USD Billion)

7.6.7.3 Market Size, By Technology, 2022-2027 (USD Billion)

Chapter 8 Company Landscape

8.1 Competitive Analysis, 2022

8.2 VizioFly

8.2.1 Company Overview

8.2.2 Financial Analysis

8.2.3 Strategic Positioning

8.2.4 Infographic Analysis

8.3 World Travel VR

8.3.1 Company Overview

8.3.2 Financial Analysis

8.3.3 Strategic Positioning

8.3.4 Infographic Analysis

8.4 Ascape VR

8.4.1 Company Overview

8.4.2 Financial Analysis

8.4.3 Strategic Positioning

8.4.4 Infographic Analysis

8.5 Zco Corporation

8.5.1 Company Overview

8.5.2 Financial Analysis

8.5.3 Strategic Positioning

8.5.4 Infographic Analysis

8.6 Cubix

8.6.1 Company Overview

8.6.2 Financial Analysis

8.6.3 Strategic Positioning

8.6.4 Infographic Analysis

8.7 VARS

8.7.1 Company Overview

8.7.2 Financial Analysis

8.7.3 Strategic Positioning

8.7.4 Infographic Analysis

8.8 Giga Works

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Infographic Analysis

8.9 The Amsterdam VR Company

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Infographic Analysis

8.10 Infinito VFX

8.10.1 Company Overview

8.10.2 Financial Analysis

8.10.3 Strategic Positioning

8.10.4 Infographic Analysis

8.11 Other Companies

8.11.1 Company Overview

8.11.2 Financial Analysis

8.11.3 Strategic Positioning

8.11.4 Infographic Analysis

The Global AR/VR in Travel & Tourism Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the AR/VR in Travel & Tourism Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global AR/VR in travel & tourism market?

The global AR/VR in travel & tourism market is projected to grow at a high CAGR value from 2022 to 2027.

Who are the major vendors in the AR/VR in travel & tourism market?

Which region has the highest market share in the AR/VR in travel & tourism market?

The North American region is estimated to hold the highest market share in the AR/VR in travel & tourism market.

What is the Covid-19 impact on future AR/VR in travel & tourism manufacturers?

What are the major drivers in the AR/VR in travel & tourism market?

During the forecast period, the market demand would be as a result of increasing demands for travel and tourism services from diverse regions and accelerated investments in AR/VR in the travel and tourism ecosystem to enhance their products and service capabilities around the globe.