Metaverse Market in Travel and Tourism Industry to Record a 25.34% YOY Growth Rate in 2022| Evolving Opportunities with Accenture Plc & Infosys Ltd| Technavio


NEW YORK, May 13, 2022 /PRNewswire/ — Metaverse Market in Travel and Tourism Industry Facts at a Glance-

Technavio has announced its latest market research report titled Metaverse Market in Travel and Tourism Industry by Application and Geography – Forecast and Analysis 2022-2026

  • Total Pages: 120

  • Companies: 10+ – Including Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., LynKey International Ltd., Marriott International Inc., Mytaverse Inc., Powerbridge Technologies Co. Ltd., Qatar Airways Group, Queppelin, and Wilkins Avenue AR among others.

  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; parent market analysis; Vendor landscape; COVID impact & recovery analysis

  • Segments: Application – AR, Blockchain, VR, MR, and XR

  • Geographies: North America, EuropeAPAC, South Americaand the Middle East and Africa

To understand more about Market Dynamics. Download our sample report

the Metaverse Market in the Travel and Tourism Industry size is expected to increase by USD 188.24 billion from 2021 to 2026, with an accelerated CAGR or 26.01% as per the latest market report by Technavio. 37% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for metaverse in the travel and tourism industry in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions. The growing investments in AR technology from key vendors, rising adoption of technologically advanced applications among consumers, and robust research activities to increase metaverse applications will facilitate the metaverse market growth in the travel and tourism industry in North America over the forecast period

Download Sample: for more additional information about the key countries in North America

Vendor Insights-

the Metaverse Market in Travel and Tourism Industry is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.

Find additional highlights on the vendors and their product offerings. Download A Sample Report

Latest Drivers & Trends Driving the Market-

  • Metaverse Market in Travel and Tourism Industry Driver:
    The key factor driving growth in the metaverse market in the travel and tourism industry is the increasing demand for AR and VR technology. Customers are increasingly adopting VR and AR technology, either for professional or private use. Metaverse is a mixed reality (mixture of AR/VR) that has unlimited access, unlike usual VR programs. Technological innovations will further drive the demand for AR and VR applications during the forecast period, as these applications will enable users to use the technology in a more user-friendly manner. Wearable technology platforms will likely enhance the utility of AR in the global metaverse market in the travel and tourism industry. For instance, Google is actively working on AR Smart Glasses for the global metaverse market in the travel and tourism industry. Therefore, the growing application area of ​​AR and VR technology will boost the growth of the global metaverse market in the travel and tourism industry.

  • Metaverse Market in Travel and Tourism Industry Trend:
    the increasing focus on increasing booking volume by enhancing the booking experience is a metaverse market trend in the travel and tourism industry that is expected to have a positive impact in the coming years. Metaverse travel and tourism solutions have the power to greatly enhance booking processes by providing valuable information which cannot be accurately delivered in any other way. This increases the probability of a customer completing their booking journey rather than backing out. Travel agencies can use VR tours to provide their customers with life-like experiences of a location they wish to travel to. The real value of metaverse offering in the tourism and travel industry during a booking process is their ability to increase overall booking volumes. This occurs due to the enhanced customer experience due to the usage of metaverse wherein customers can gain inspiration from virtual and augmented reality travel technology, and the actual experience of booking hotels, travel, restaurant tables, and other services becomes more enjoyable, informative, and a tool for influencing buyers purchasing decisions.

Find additional information about various other market Drivers & Trends – Download a sample report.

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Metaverse Market In Travel And Tourism Industry Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 26.01%

Market growth 2022-2026

USD 188.24 billion

Market structure

Fragmented

YoY growth (%)

25.34

Performing market contribution

North America at 37%

competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., LynKey International Ltd., Marriott International Inc., Mytaverse Inc., Powerbridge Technologies Co. Ltd., Qatar Airways Group, Queppelin, and Wilkins Avenue AR

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports, covering 800 technologies spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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