Home Business Metaverse Travel

Metaverse Travel

by S. Jack Heffernan Ph.D
Metaverse Travel

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.

Key Segments

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.

Regional Growth Analysis

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

Market Dynamics

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.

Vendor Landscape

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.

You may also like


Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.