Global Virtual Tourism Market Size To Worth USD 59.61 Billion By 2033 | CAGR Of 24.87%
Category: Consumer GoodsGlobal Virtual Tourism Market Size To Worth USD 59.61 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Virtual Tourism Market Size is Expected to Grow from USD 6.47 Billion in 2023 to USD 59.61 Billion by 2033, at a CAGR of 24.87% during the forecast period 2023-2033.
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Browse key industry insights spread across 230 pages with 116 Market data tables and figures & charts from the report on the "Global Virtual Tourism Market Size, Share, and COVID-19 Impact Analysis, By Type (360 Virtual Tours, 3D Virtual Tours, and Virtual Reality Tours), By Application (Tourism, Real Estate, Art Galleries & Museums, and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/virtual-tourism-market
In virtual tourism, one can explore the location as well as travel hubs and tourist attractions without physically being there. Technological advancements in virtual travel offer incredible experiences and travelers are getting the chance to enjoy tours in a visual setting. The need for virtual tours has increased as a result of the travel and tourism industry's growth, which provides immersive experiences for those who want to see other places. The development of augmented reality (AR) and virtual reality (VR) technology has greatly improved the quality and accessibility of virtual tours, which is primarily driving the virtual tourism market. The expansion of the market is attributed to the technical advancements that enhance the immersiveness and engagement of virtual experiences. However, the demand for virtual tours is severely restricted by the limited availability of augmented reality (AR) and virtual reality (VR) technology. Although AR and VR headsets provide immersive experiences, their restricted availability and relatively high cost prevent their adoption.
The 3D virtual tours segment is predicted to hold the greatest market share through the forecast period.
Based on the type, the virtual tourism market is classified into 360 virtual tours, 3D virtual tours, and virtual reality tours. Among these, the 3D virtual tours segment is predicted to hold the greatest market share through the forecast period. Real-world trip simulations can be achieved through immersive and engaging 3D virtual tours. By offering comprehensive, 3D views and interactive features, these tours let users experience locations from the comfort of their own homes.
The tourism segment is anticipated to hold the greatest market share during the projected timeframe.
Based on the application, the virtual tourism market is divided into tourism, real estate, art galleries & museums, and others. Among these, the tourism segment is anticipated to hold the greatest market share during the projected timeframe. Tourism is growing as an effect of customer tastes shifting towards digital experiences and technological advancements.
North America is estimated to hold the largest share of the virtual tourism market over the forecast period.
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North America is estimated to hold the largest share of the virtual tourism market over the forecast period. The virtual and augmented reality industries have received significant funding, especially in the US and Canada, where there is a notable concentration of IT companies and startups offering VR and AR solutions. This has contributed to North America's market domination.
Asia Pacific is predicted to have the highest CAGR growth in the virtual tourism market over the forecast period. The market growth in Asia-Pacific region gains from the rapidly expanding use of technology and the growing desire for cutting-edge marketing techniques in nations like South Korea, Japan, and China.
Europe is estimated to hold a significant share of the virtual tourism market over the forecast period. Virtual tours are widely used by the tourist industry in Europe to improve visitor experiences and accessibility to historical and cultural places, which contributes to the continent's strong performance.
Major key players in the virtual tourism market include Greater Anglia, Marriott International, First Airlines, Visit Wales, Google Earth VR, Dubai 360, Bristol From Home, Ascape VR, Xplorit, Matterport, Expedia, Comp11, TourVista, Blue Raven Studios, and Others.
Recent Developments
- In July 2024, To increase accessibility, Greater Anglia launched a virtual tour program for the Witham train station in the United Kingdom. Before visiting, passengers might use the online application to become acquainted with station amenities like restrooms, ticket machines, platforms, and transportation connections. Eighteen other stations also offered 360-degree tours with a similar focus on identifying potential accessibility hurdles and reducing trip anxiety.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the virtual tourism market based on the below-mentioned segments:
Global Virtual Tourism Market, By Type
- 360 Virtual Tours
- 3D Virtual Tours
- Virtual Reality (VR) Tours
Global Virtual Tourism Market, By Application
- Tourism
- Real Estate
- Art Galleries and Museums
- Others
Global Virtual Tourism Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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