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The Business Research Company's Virtual Reality In tourism Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UNITED KINGDOM, October 11, 2024 /EINPresswire / -- The virtual reality in tourism market has experienced exponential growth, anticipated to expand from $3.93 billion in 2023 to $5.44 billion in 2024, with a CAGR of 38.2%. This surge can be attributed to increased internet access, mobile device proliferation, the influence of the gaming industry, the rise of social media, and early adopters in the entertainment sector.
What Is The Estimated Market Size Of The Global Virtual Reality In Tourism Market And Its Annual Growth Rate?
The virtual reality in tourism market is expected to experience exponential growth, reaching $19.91 billion by 2028 with a CAGR of 38.3%. This growth is attributed to increasing demand for personalized experiences, higher disposable incomes, the expansion of 5G networks, a rise in virtual events, and greater awareness of VR applications. Key trends include AI integration with VR, partnerships between tech and tourism sectors, development of VR content for cultural heritage sites, growth in VR tourism education programs, and an increase in virtual tours for remote locations.
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Growth Driver Of The Virtual Reality In Tourism Market
The growing demand for travel and tourism is expected to enhance the virtual reality in tourism market in the future. Factors such as increased disposable incomes, the easing of travel restrictions, and a heightened desire for unique experiences are contributing to this growth. Virtual reality technology allows potential travelers to take virtual tours of destinations, hotels, and attractions before booking, helping them make informed decisions and increasing their confidence in their choices.
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Which Market Players Are Driving The Virtual Reality In Tourism Market Growth?
Key players in the market include Alphabet Inc., Samsung Electronics, Microsoft Corporation, Sony Group Corporation, Lufthansa Group, Nokia Corporation, Marriott International, TUI Group, National Geographic, Thomas Cook, HTC Corporation, EON Reality Inc, YouVisit, VironIT, 3D Walkabout, VeeR VR, AirPano, Travel World VR LLC, VR IMMERSION LTD, VR Gorilla, Cyber Tours Ltd.
What Are the Key Trends That Influence The Virtual Reality In Tourism Market Size ?
In the virtual reality tourism market, companies are embracing innovative solutions such as virtual interactive portals to deliver immersive travel experiences. These portals provide online platforms that enable users to explore and engage with virtual environments, transforming traditional travel experiences into interactive digital journeys.
How Is The Global Virtual Reality In Tourism Market 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
Geographical Insights: Asia-Pacific Leading The Virtual Reality In Tourism Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Virtual Reality In Tourism Market Definition
Virtual reality (VR) in tourism employs immersive technology to create simulated experiences of destinations, allowing travelers to explore places before physically visiting. VR enhances trip planning by offering interactive tours, previews of accommodations, and simulated activities, broadening access to tourism experiences.
Virtual Reality In Tourism Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global virtual reality in tourism market report covering trends, opportunities, strategies, and more
The Virtual Reality In Tourism Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on virtual reality in tourism market size, virtual reality in tourism market drivers and trends, virtual reality in tourism market major players and virtual reality in tourism market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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