How Is The Global Virtual Reality In Tourism Market Defined?
Virtual reality (VR) in tourism involves using immersive technology to create virtual experiences of destinations, allowing travelers to explore places before visiting. It offers interactive tours, previews of accommodations, and simulated activities, enhancing trip planning and decision-making. Virtual reality can also provide remote access to attractions, broadening the reach of tourism experiences.
Virtual Reality In Tourism Global Market Report 2024 provides data on the global virtual reality in tourism market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The virtual reality in tourism market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Virtual Reality In Tourism Market Size And Growth Rates Projected To Evolve?
The virtual reality in tourism market has grown rapidly, from $3.93 billion in 2023 to $5.44 billion in 2024, with a CAGR of 38.2%. Factors behind this growth include increased internet access, the influence of mobile devices, the gaming industry's rise, the role of social media platforms, and the adoption of VR in entertainment. The market is expected to reach $19.91 billion by 2028, growing at a CAGR of 38.3%. Future growth is fueled by demand for personalized experiences, increased disposable incomes, the rollout of 5G networks, the rise of virtual events, and growing awareness of VR applications. Key trends include AI integration with VR, collaborations between the tech and tourism sectors, VR content development for cultural sites, VR tourism education, and virtual tours for inaccessible destinations.
What Are The Essential Drivers Behind The Growth Of The Virtual Reality In Tourism Market?
The increasing demand for travel and tourism is expected to propel the growth of the virtual reality in tourism market. Travelers are increasingly seeking unique and personalized experiences, and virtual reality allows them to explore destinations, hotels, and attractions digitally before making bookings. For example, in the UK, overseas visits increased significantly in 2022, reflecting the growing demand for travel and tourism services that leverage virtual reality.
Get Your Free Sample Of The Global Virtual Reality In Tourism Market Report
How Is The Global Virtual Reality In Tourism Market Divided Into Key Segments?
The virtual reality in tourism market covered in this report is segmented –
1) By Type: 3 Dimension (3D), 4 Dimension (4D), Other Types
2) By Device: Head-Mounted Displays (HMDs), Smartphones, Consoles, Personal Computers (PCs)
3) By Platform: Android, iPhone Operating System (IOS), Windows, Macintosh Operating System (Mac OS)
4) By Application: Travel Agency, Hotel, Tourist Attractions, Entertainment, Education, Retail, Healthcare
What Trends Are Reshaping The Future Of The Virtual Reality In Tourism Market?
In the virtual reality tourism sector, companies are creating innovative platforms to provide immersive travel experiences. In February 2024, the Tokyo Metropolitan Government launched a virtual reality experience on Roblox, allowing users to explore Tokyo's landmarks through interactive activities. Additionally, the Tokyo Hunt App combines augmented reality with real-world exploration, encouraging users to visit landmarks and capture AR photos.
What Is The Fastest Growing Region In The Virtual Reality In Tourism Market?
Asia-Pacific was the largest region in the virtual reality in tourism market in 2023. The regions covered in the virtual reality in tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
