Metaverse in Travel and Tourism Market Size, Share & Growth Report by year 2028
The latest report, titled ‘Global Metaverse in Travel and Tourism Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Metaverse in Travel and Tourism market scenario. The research report provides the reader with an in-depth interpretation of the Metaverse in Travel and Tourism market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Metaverse in Travel and Tourism industry
Virtual reality and augmented reality have made it possible to provide more immersive travel experiences and in turn, accelerated integration of metaverse in travel and tourism industry. Metaverse has the potential to change the way travelers engage in pre, post, and in-trip purchases and become an essential part of the travel ecosystem.
Rapid technological adoption by travel and tourism companies to create substitutes for real-time travel, increasing investment to create 3D virtual tours, and rising use of metaverse platforms to enhance hospitality services are some key factors expected to boost market revenue growth over the forecast period. In addition, increasing utilization of metaverse by travel and tourism companies to enhance their destination reputation, create immersive marketing experiences, and offer essential information to customers about room booking, room size, and features is another key factor expected to boost revenue growth of the market going ahead.
Metaverse refers to the creation of virtual worlds that are focused on social interactions and connections and include virtual reality experiences and augmented reality overlays. In the travel and tourism industry, metaverse can enable seamless booking experiences and offer unique stay experiences to cater to ever-evolving guest expectations. Metaverse can revolutionize accommodation and booking processes and enable hotels and resorts to offer 3D virtual tours to experience the destination before they check-in. 3D virtual tours can offer travels a real-like experience of hotel rooms, décor, features, and amenities which could boost confidence among travelers about their selection, in turn, boosting booking and conversion rates.
Metaverse has the ability to augment the try-it-before-you-buy-it concept and utilization of metaverse to select aspects of holidays can make it more enjoyable and informational for travelers. Increasing awareness regarding benefits and attributes of metaverse in tourism marketing, rising social media and smartphone penetration, and growing number of tech-savvy individuals in the Gen Z and millennial generations is expected to further boost integration of metaverse in travel and tourism sector. This is expected to further boost revenue growth of the market over the forecast period. In addition, favorable regulations regarding use of cryptocurrencies and growing acceptance of cryptocurrencies as a mode of payment by various tourism-focused companies is expected to contribute significantly to revenue growth of the market going ahead.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Major Companies in the Market Include:
- The Boeing Company
- Marriot International
- First Airlines
- Color Star Technology Co. Ltd.
- Powerbridge Technologies Co., Ltd.
- Beyondvision Cultural Development Co., Ltd.
- Meta Platforms. Inc.
- Google LLC
- Microsoft Corporation
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Metaverse in Travel and Tourism Market, 2022 to 2027, market-leading companies. You will find data, trends and predictions.
The content of each profile differs, depending on the organization. In general, a profile gives the following information:
- Overview of the company’s Metaverse in Travel and Tourism products & services
- Analysis of recent financial performance–annual revenue of the companies
- Assessment of developments–activities, acquisitions, production capacity, deals, new service offerings and collaborations
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
For the purpose of this report, Emergen Research has segmented the global metaverse in travel and tourism market on the basis of component, technology, end use, and region:
Component Outlook (Revenue, USD Billion; 2018-2030)
Technology Outlook (Revenue, USD Billion; 2018-2030)
- Augmented Reality (AR)
- Virtual Reality (VR)
- Mixed Reality (MR)
- Extended Reality (XR)
End Use Outlook (Revenue, USD Billion; 2018-2030)
- Room Tours
- Destination Tours
- Theme Parks and Museums
- Natural Attractions
- Trade Shows & Expos
Forecasts to 2027 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2027, our new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Metaverse in Travel and Tourism prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
How will the Metaverse in Travel and Tourism Market, 2022 to 2027 report help you?
In summary, our 250-page report provides you with the following knowledge:
- Revenue forecasts to 2027 for Metaverse in Travel and Tourism Market, 2022 to 2027 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2027 for four regional and 20 key national markets – See forecasts for the Metaverse in Travel and Tourism Market, 2022 to 2027 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Metaverse in Travel and Tourism Market, 2022 to 2027.
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