AR VR in Travel and Tourism Market Size, Growth Drivers, Distributor Analysis, Industry Trends and Forecast to 2026

The Global AR VR in Travel and Tourism Market Ecosystem was valued at US$ 74.6 million in 2018 and is expected to reach US$ 304.4 million Million by the year 2023, expanding at a CAGR of 32.5% by 2027.
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Traveling is a great experience for every tourist and therefore, tourists usually do a detailed research before booking a travel destination. The rising demand for travel and tourism services from various regions across the globe is accelerating the market demand for AR VR in travel and tourism market ecosystem. The 'try before you buy' concept is now applicable in the travel and tourism industry. Travel and tourism companies are investing in AR VR to enhance customer experience. Various apps are being developed using AR and VR technology to allow customers experience the real-time scenario of a destination they want to book. The Hub Hotel, one of the largest hotel chains in the U.K., has created an interactive wall in every room using AR. Guests just need to point their phones at the wall to check all the nearby tourist attractions.

Market Segmentation:
Following Top Key players are profiled in this Market Study:
Microsoft Corporation, Google, SAP, Salesforce.com, Inc., Amazon.com, Inc, and more...

By Application: 3D modelling/ Design, Training, Monitoring/ Maintenance, Others.

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Global AR VR in Travel and Tourism Market Ecosystem
Companies are making investments in AR VR in travel and tourism Market ecosystem to improve their services and product offerings to provide tourists a great travel experience. In 2018, Rizort, a provider of luxury vacation travel planning, closed a seed funding of US$ 2.9 Mn to enhance VR-based recommendations for customers. The company raised this investment from Dream Incubator Japan and Blue Ventures, among others. In addition to this, in 2018, Scapic, a SaaS-based cloud platform raised US$ 500,000 seed funding from Newfort Capital, Axilor, and Speciale Invest. The fund will be utilized for product development and research in AR VR for travel and tourism ecosystem.

AR VR in Travel And Tourism Market Ecosystem is used for improving travel convenience, navigation, and for creating menus with an interactive 360-degree view of the food and the ingredients used in it, and others. The Virgin Holidays has created solutions that allow stores to occupy its waiting customers with a virtual tour of Virgin Holiday's destinations. This has helped improve the sales of holidays to Riviera Maya, which is one of the Virgin Holiday's destinations.

Regional Analysis:
North America held the largest market share in 2018 in the AR VR in travel and tourism ecosystem. The presence of major technology and solution providers in the region is contributing to the overall revenue growth in the AR VR in travel and tourism ecosystem market. The Asia Pacific region is expected to grow with a high CAGR during the forecast period, owing to growing investments in AR VR in travel and tourism in the region. For instance, in February 2017, the China National Tourism Administration and HTC Vive entered into a partnership to establish the China VR Tourism Cloud Data Service Platform. The partnership will be used to provide virtual experience to tourists, along with the integration of functions such as information sharing, instant messaging, big data analysis, and online entertainment.

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Table of Content:
Ecosystem Report - Table of Content
1. Introduction
1. Global AR VR in Travel and Tourism Market Ecosystem Definition
2. Scope of study
2. Executive Summary
1. Global Market Segmentation
AR VR in Travel and Tourism Market Ecosystem Positioning
1. Global AR VR in Travel and Tourism Market Ecosystem Snapshot

2. Global AR VR in Travel and Tourism Market Ecosystem Segmentation
1. By Component
AR VR in Travel and Tourism Market Ecosystem Sizing, Volume, and ASP Analysis & Forecast
1. Global AR VR in Travel and Tourism Market Ecosystem Sizing & Volume
1. Cross-segmentation
And More...

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