NEW YORK, Sept. 28, 2022 /PRNewswire/ — The metaverse market in travel and tourism industry is growing at a CAGR of 26.01% and is expected to register an incremental growth of USD 188.24 billion between 2021 and 2026. The report analyses the market behavior, and growth, and provides accurate predictions on the size of the market.
- The report recognizes the following as the key players in the metaverse market in travel and tourism industry: Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., and LynKey International Ltd. among others.
- The global metaverse market structure in the travel and tourism industry is fragmented in nature.
- North America to have a significant share in the metaverse market in travel and tourism industry.
- Market to observe 25.34% YOY growth in 2022. View Sample Report Here.
The metaverse market in travel and tourism industry is segmented by application (AR, Blockchain, VR, MR, and XR).
The AR segment will generate maximum revenue in the market during the forecast period. The segment will be driven by new product launches and the growing adoption of AR in different application areas, including the metaverse.
The global metaverse market in travel and tourism industry is analyzed across five regions — North America, Europe, APAC, South America, and the Middle East and Africa.
North America is currently the dominating region, occupying 37% of the global market share. Growing investments in AR technology from key vendors, rising adoption of technologically advanced applications among consumers, and robust research activities to increase metaverse applications are driving the growth of the metaverse market in North America.
Identify potential segments and regions to invest in over the forecast period. Read Sample Report Before Purchasing
The metaverse market in travel and tourism industry is expected to witness substantial growth during the forecast period, primarily due to the increasing demand for AR and VR technology. The adoption of virtual technologies such as AR and VR has increased significantly worldwide over the last decade. AR is widely being adopted to provide metaverse travel and tourism solutions like developing interactive hotel elements, VR tours, digital avatars, and other solutions to provide customer details about the property and make the customers aware of the facilities offered to them. Similarly, VR is being adopted to offer unique experiences to consumers in education, entertainment, commerce, and service industries. Such expanding application areas of AR and VR technologies are expected to drive the growth of the market during the forecast period.
The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report.
The metaverse market in travel and tourism industry is fragmented due to the presence of several players and a few well-established players. Vendors in the market compete based on several factors such as innovation, price, service, distribution, and marketing. Some vendors are focusing on acquiring smaller brands to increase their market presence. The market is in the innovation stage and it is expected to witness a large entry of pureplay technology or other players during the forecast period.
Here are some of the products offered by key vendors:
Accenture Plc: The company offers metaverse in travel and tourism such as XR for unique traveler experiences.
Ariva Digital: The company offers ARV that is the tourism cryptocurrency that eliminates the need to carry cash or debit cards.
Infosys Ltd.: The company offers XR, DLT, 5G, AI, IoT with Infosys metaverse foundry.
LynKey International Ltd.: The company offers luxury resort and vacation property with Blockchain and AI tech. It also offers holiday experience NFTs.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the metaverse market in travel and tourism industry report:
- Further breakdown of the market segmentation at requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the recovery phase. Buy Report Now
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Metaverse Market In Travel And Tourism Industry Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 26.01% |
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Market growth 2022-2026 |
USD 188.24 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
25.34 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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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 |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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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. |
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 AR – Market size and forecast 2021-2026
- Exhibit 28: Chart on AR – Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on AR – Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on AR – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on AR – Year-over-year growth 2021-2026 (%)
- 5.4 Blockchain – Market size and forecast 2021-2026
- Exhibit 32: Chart on Blockchain – Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Blockchain – Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Blockchain – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Blockchain – Year-over-year growth 2021-2026 (%)
- 5.5 VR – Market size and forecast 2021-2026
- Exhibit 36: Chart on VR – Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on VR – Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on VR – Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on VR – Year-over-year growth 2021-2026 (%)
- 5.6 MR – Market size and forecast 2021-2026
- Exhibit 40: Chart on MR – Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on MR – Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on MR – Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on MR – Year-over-year growth 2021-2026 (%)
- 5.7 XR – Market size and forecast 2021-2026
- Exhibit 44: Chart on XR – Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on XR – Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on XR – Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on XR – Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 North America – Market size and forecast 2021-2026
- Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.4 Europe – Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.5 APAC – Market size and forecast 2021-2026
- Exhibit 62: Chart on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.6 South America – Market size and forecast 2021-2026
- Exhibit 66: Chart on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.8 US – Market size and forecast 2021-2026
- Exhibit 74: Chart on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.9 China – Market size and forecast 2021-2026
- Exhibit 78: Chart on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.10 Germany – Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany – Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany – Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany – Year-over-year growth 2021-2026 (%)
- 7.11 Canada – Market size and forecast 2021-2026
- Exhibit 86: Chart on Canada – Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Canada – Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Canada – Year-over-year growth 2021-2026 (%)
- 7.12 UK – Market size and forecast 2021-2026
- Exhibit 90: Chart on UK – Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on UK – Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on UK – Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on UK – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 98: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 99: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification
- 10.3 Accenture Plc
- Exhibit 101: Accenture Plc – Overview
- Exhibit 102: Accenture Plc – Business segments
- Exhibit 103: Accenture Plc – Key news
- Exhibit 104: Accenture Plc – Key offerings
- Exhibit 105: Accenture Plc – Segment focus
- 10.4 Ariva Digital
- Exhibit 106: Ariva Digital – Overview
- Exhibit 107: Ariva Digital – Product / Service
- Exhibit 108: Ariva Digital – Key offerings
- 10.5 Infosys Ltd.
- Exhibit 109: Infosys Ltd. – Overview
- Exhibit 110: Infosys Ltd. – Business segments
- Exhibit 111: Infosys Ltd. – Key news
- Exhibit 112: Infosys Ltd. – Key offerings
- Exhibit 113: Infosys Ltd. – Segment focus
- 10.6 LynKey International Ltd.
- Exhibit 114: LynKey International Ltd. – Overview
- Exhibit 115: LynKey International Ltd. – Product / Service
- Exhibit 116: LynKey International Ltd. – Key offerings
- 10.7 Marriott International Inc.
- Exhibit 117: Marriott International Inc. – Overview
- Exhibit 118: Marriott International Inc. – Business segments
- Exhibit 119: Marriott International Inc. – Key offerings
- Exhibit 120: Marriott International Inc. – Segment focus
- 10.8 Mytaverse Inc.
- Exhibit 121: Mytaverse Inc. – Overview
- Exhibit 122: Mytaverse Inc. – Product / Service
- Exhibit 123: Mytaverse Inc. – Key offerings
- 10.9 Powerbridge Technologies Co. Ltd.
- Exhibit 124: Powerbridge Technologies Co. Ltd. – Overview
- Exhibit 125: Powerbridge Technologies Co. Ltd. – Product / Service
- Exhibit 126: Powerbridge Technologies Co. Ltd. – Key offerings
- 10.10 Qatar Airways Group
- Exhibit 127: Qatar Airways Group – Overview
- Exhibit 128: Qatar Airways Group – Product / Service
- Exhibit 129: Qatar Airways Group – Key offerings
- 10.11 Queppelin
- Exhibit 130: Queppelin – Overview
- Exhibit 131: Queppelin – Product / Service
- Exhibit 132: Queppelin – Key offerings
- 10.12 Wilkins Avenue AR
- Exhibit 133: Wilkins Avenue AR – Overview
- Exhibit 134: Wilkins Avenue AR – Product / Service
- Exhibit 135: Wilkins Avenue AR – Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 136: Inclusions checklist
- Exhibit 137: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 138: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 139: Research methodology
- Exhibit 140: Validation techniques employed for market sizing
- Exhibit 141: Information sources
- 11.5 List of abbreviations
- Exhibit 142: List of abbreviations
- The global metaverse market in travel and tourism industry is subject to rapidly changing consumer demands and preferences. The changing consumer buying pattern may affect vendor performance in the market. It may also be affected by consumer preference, global and regional economic conditions, and various other demographic trends. Changing economic conditions are affecting end-user living standards, which can also affect vendors’ businesses. The market is fragmented due to the presence of several international and domestic vendors. Vendors such as LynKey International Ltd., Marriott International Inc., Mytaverse Inc.,
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