Augmented Reality In Travel And Tourism Market 2024 Report By Key

Augmented Reality In Travel And Tourism Market

The Business Research Company recently released a comprehensive report on the Global Augmented Reality In Travel And Tourism Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company’s, 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.

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Market Drivers and Trends:

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.

Major companies operating in the augmented reality (AR) travel and tourism market are adopting new technologies, such as AR-based adventure apps, to sustain their position. AR-based adventure app is a mobile application that uses augmented reality technology to create an immersive and interactive user experience. For instance, in August 2021, Social Bee, a Germany-based mobile app service for augmented reality, launched the Social Bee Adventures app for augmented reality in travel and tourism. This innovative app uses technology to provide self-directed guided tours and offers augmented reality in the travel and tourism industries. This allows users to create and share their own AR experiences, such as tours, scavenger hunts and events. Furthermore, users can discover and buy experiences made by other users, which they can access whenever convenient. Additionally, creators can charge a fee or provide their experiences for free.

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Major Key Players of the Market:

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.

Augmented Reality In Travel And Tourism Market 2024 Key Insights:

• The augmented reality in travel and tourism market size is expected to grow to $78.14 billion in 2028 at a compound annual growth rate (CAGR) of 38.2%.

• Rising Travel And Tourism Demand Fuels Augmented Reality’s Role In Enhancing Experiences

• Innovation In Augmented Reality Travel And Tourism

• North America was the largest region in the augmented reality in travel and tourism market in 2023.

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