Overview and Scope
Augmented reality (AR) in travel and tourism refers to the use of digital technology to enhance the travel experience for tourists. It makes it possible to access all kinds of information, offering the most complete and immersive experience possible. It also offers enhanced customer experiences and faster customer service.
Sizing and Forecast
The augmented reality in travel and tourism market size has grown exponentially in recent years. It will grow from $15.52 billion in 2023 to $21.44 billion in 2024 at a compound annual growth rate (CAGR) of 38.1%. The growth in the historic period can be attributed to enhanced user experience, promotion of local businesses, social media expansion, positive user feedback.
The augmented reality in travel and tourism market size is expected to see exponential growth in the next few years. It will grow to $78.14 billion in 2028 at a compound annual growth rate (CAGR) of 38.2%. The growth in the forecast period can be attributed to augmented travel booking, educational tourism, adventure and nature tourism, user-generated content sharing. Major trends in the forecast period include wearable ar devices, wayfinding and navigation solutions, contactless experiences, cultural storytelling.
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Segmentation & Regional Insights
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
North America was the largest region in the augmented reality in travel and tourism market in 2023. 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.
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Major Driver Impacting Market Growth
The increasing demand for travel and tourism is expected to propel the growth of augmented reality in the travel and tourism market going forward. Travel and tourism refer to the activities of people traveling to and visiting places for leisure, recreation, business, or other purposes. Augmented reality has created demand in the travel and tourism industries for smart tourism and enhanced travel experiences that make destinations more immersive, informative, and engaging. For instance, in June 2022, according to reports shared by the US Department of Commerce 2021 Highlights, a US-based executive department of the federal government, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the increasing demand for travel and tourism is driving the growth of augmented reality in travel and tourism.
Key Industry Players
Major players 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.
The augmented reality in travel and tourism market report table of contents includes:
1. Executive Summary
- Augmented Reality In Travel And Tourism Market Characteristics
- Augmented Reality In Travel And Tourism Market Trends And Strategies
- Augmented Reality In Travel And Tourism Market – Macro Economic Scenario
- Global Augmented Reality In Travel And Tourism Market Size and Growth
. - Global Augmented Reality In Travel And Tourism Market Competitive Benchmarking
- Global Augmented Reality In Travel And Tourism Market Competitive Dashboard
- Key Mergers And Acquisitions In The Augmented Reality In Travel And Tourism Market
- Augmented Reality In Travel And Tourism Market Future Outlook and Potential Analysis
- Appendix
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