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Key Trends Shaping the Future Augmented Reality In Travel And Tourism Market From 2025-2034: Strategic Partnerships Driving Innovation in the Augmented Reality (AR) Travel and Tourism Market
Key Trends Shaping the Future Augmented Reality In Travel And Tourism Market
The augmented reality in travel and tourism market has seen substantial growth in recent years. It is anticipated to grow from $21.44 billion in 2024 to $29.58 billion in 2025, achieving a CAGR of 38.0%. The historical expansion was fueled by enhanced user experiences, the promotion of local businesses, social media expansion, and positive user feedback.
The augmented reality in travel and tourism market is projected to grow to $109.13 billion by 2029, at a CAGR of 38.6%. Growth drivers include augmented travel booking, educational tourism, and cultural storytelling. Key trends include wearable AR devices, contactless experiences, and wayfinding navigation solutions.
What Are the Forces Behind the Rapid Growth of the Augmented Reality In Travel And Tourism Market?
The increasing demand for travel and tourism is expected to propel the growth of augmented reality in the travel and tourism market. Augmented reality (AR) is enhancing travel experiences, making destinations more immersive and interactive. According to the UK Office for National Statistics, in 2023, overseas visitors to the UK increased significantly, spending $39.4 billion during their trips, which is driving the demand for AR solutions in tourism.
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Who Are the Dominant Companies Influencing Augmented Reality In Travel And Tourism Market Trends?
Major companies operating in the augmented reality in travel and tourism market are TeamViewer SE, Apple Inc., Google LLC, Delta Air Lines, Marriott International Inc., Booking.com, Expedia Group Inc., Hilton Worldwide Holdings Inc., TUI Group, Airbnb Inc., EasyJet PLC, Japan Airlines Co. Ltd., Holiday Inn, Accor S.A, InterContinental Hotels Group (IHG), Whitbread PLC, Virgin Atlantic Airways Limited, Air New Zealand Limited, TripAdvisor Inc., Trivago N.V., Argo Group International Holdings Ltd., Hamad International Airport, WayRay, Blippar Group Limited, SmartGuide s.r.o., Wikitude GmbH, Layar.
How Is the Augmented Reality In Travel And Tourism Market Evolving?
In the AR travel and tourism market, companies are using strategic partnerships to develop innovative solutions. These partnerships combine resources and expertise to drive growth in the AR industry. For instance, in January 2023, ARway.ai, a Canada-based company, partnered with AI Safer, a Saudi Arabian agency, to integrate AR navigation technology at cultural attractions in Saudi Arabia, enhancing the visitor experience and deepening their understanding of the country's heritage.
What Are the Different Segmentations in the Augmented Reality In Travel And Tourism Market?
The augmented reality in travel and tourism market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Augmented Reality, Virtual Reality
3) By Application: Hospitality, In-Flight Entertainment, Travel Booking Services, Augmented Reality (AR) Gamification, Navigating
Subsegments:
1) By Hardware: AR Glasses, Mobile Devices, Head-Mounted Displays (HMDs)
2) By Software: AR Applications, AR Development Tools, Content Management Systems (CMS)
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services
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Which Region Is at the Forefront of the Augmented Reality In Travel And Tourism Market?
North America was the largest region in the augmented reality in travel and tourism market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in augmented reality (AR) in travel and tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Augmented Reality In Travel And Tourism Global Market Report?
- Market Size Analysis: Analyze the Augmented Reality In Travel And Tourism Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Augmented Reality In Travel And Tourism Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Augmented Reality In Travel And Tourism Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Augmented Reality In Travel And Tourism Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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