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Metaverse Market in Travel and Tourism Industry by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 120
  • SKU: IRTNTR73410
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According to Technavio's analyst, the metaverse market size in travel and tourism industry is expected to be valued at USD 188.24 billion in 2026 with a progressing CAGR of 26.01%.

This metaverse market in travel and tourism industry research report extensively covers metaverse market segmentation in travel and tourism industry by:

  • Application - AR, Blockchain, VR, MR, and XR
  • Geography - North America, Europe, APAC, South America, and Middle East and Africa

The metaverse market vendors in travel and tourism industry are - Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., LynKey International Ltd., Marriott International Inc., Mytaverse Inc., Powerbridge Technologies Co. Ltd., Qatar Airways Group, Queppelin, and Wilkins Avenue AR among others.

What will the Metaverse Market Size in Travel and Tourism Industry be During the Forecast Period?

Metaverse Market Size

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Metaverse Market in Travel and Tourism Industry: Key Drivers, Trends, and Challenges

The increasing demand for AR and VR technology is notably driving the metaverse market growth in travel and tourism industry, although factors such as privacy and security concerns over metaverse may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the metaverse industry in travel and tourism industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Metaverse Market Driver in Travel and Tourism Industry

One of the key factors driving growth in the metaverse market in travel and tourism industry is the increasing demand for AR and VR technology. Customers are increasingly adopting VR and AR technology, either for professional or private use. Metaverse is a mixed reality (mixture of AR/VR) that has unlimited access, unlike usual VR programs. Technological innovations will further drive the demand for AR and VR applications during the forecast period, as these applications will enable users to use the technology in a more user-friendly manner. Wearable technology platforms will likely enhance the utility of AR in the global metaverse market in travel and tourism industry. For instance, Google is actively working on AR Smart Glasses for the global metaverse market in travel and tourism industry. Therefore, the growing application area of AR and VR technology will boost the growth of the global metaverse market in travel and tourism industry.

Key Metaverse Market Trend in Travel and Tourism Industry

The increasing focus on increasing booking volume by enhancing the booking experience is a metaverse market trend in travel and tourism industry that is expected to have a positive impact in the coming years. Metaverse travel and tourism solutions have the power to greatly enhance booking processes by providing valuable information which cannot be accurately delivered in any other way. This increases the probability of a customer completing their booking journey rather than backing out. Travel agencies can use VR tours to provide their customers with life-like experiences of a location they wish to travel to. The real value of metaverse offering in the tourism and travel industry during a booking process is their ability to increase overall booking volumes. This occurs due to the enhanced customer experience due to the usage of metaverse wherein customers can gain inspiration from virtual and augmented reality travel technology, and the actual experience of booking hotels, travel, restaurant tables, and other services becomes more enjoyable, informative, and a tool for influencing buyers purchasing decisions.

Key Metaverse Market Challenge in Travel and Tourism Industry

The privacy and security concerns over metaverse will be a major challenge for the metaverse market in travel and tourism industry during the forecast period. Even though companies and organizations keep revolutionizing their IT security systems, data privacy and security has been a long-running concern for users of the metaverse. The metaverse collects and processes vast amounts of information about users and their environment. Therefore, privacy concerns are a significant challenge in the global metaverse market in travel and tourism industry. User privacy can also be threatened if hackers gain access to the user's device. Moreover, there are privacy-related concerns associated with smart gears used in the metaverse, such as smart glass, VR headsets, etc. These glasses automatically screen and process the user's environment, violating the user's privacy and those around them. The development of such products may hamper the growth of the market during the forecast period.

This metaverse market in travel and tourism industry analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global metaverse market in travel and tourism industry as a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the metaverse market in travel and tourism industry during the forecast period.

Who are the Major Metaverse Market Vendors in Travel and Tourism Industry?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • ALTERATION INDORUSSIA.COM
  • Ariva Digital
  • Infosys Ltd.
  • LynKey International Ltd.
  • Marriott International Inc.
  • Mytaverse Inc.
  • Powerbridge Technologies Co. Ltd.
  • Qatar Airways Group
  • Queppelin
  • Wilkins Avenue AR

 

This statistical study of the metaverse market in travel and tourism industry encompasses successful business strategies deployed by the key vendors. The metaverse market in travel and tourism industry is fragmented and the vendors are deploying growth strategies such as focusing on acquiring smaller brands to increase their market presence to compete in the market.

Product Insights and News

  • accenture.com - The company offers metaverse in travel and tourism such as XR for unique traveler experiences.

  • accenture.com - Through the North America segment, the company sells and delivers full range of its services and capabilities to clients across North America.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The metaverse market in travel and tourism industry forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Metaverse Market in Travel and Tourism Industry Value Chain Analysis

Our report provides extensive information on the value chain analysis for the metaverse market in travel and tourism industry, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Metaverse Market in Travel and Tourism Industry?

Metaverse Market Market segmentation by region

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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for metaverse in travel and tourism industry in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.

The growing investments in AR technology from key vendors, rising adoption of technologically advanced applications among consumers, and robust research activities to increase metaverse applications will facilitate the metaverse market growth in travel and tourism industry in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The rapid spread of COVID-19 impacted the economy of North America, especially the US, in 2020. Several commercial enterprises, industries, and institutions partially shut down their operations due to the imposition of lockdowns.In 2021, widespread vaccination drives led to a decrease in the number of COVID-19 cases in the region. Additionally, the economic condition showed a sign of stability, which, in turn, enhanced the growth of the IT sector in the region. During the forecast period, rapid adoption of metaverse by the travel and tourism industry is expected to foster growth in the regional market.

What are the Revenue-generating Application Segments in the Metaverse Market inTravel and Tourism Industry?

Metaverse Market Segmentation

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The metaverse market share growth in travel and tourism industry by the AR segment will be significant during the forecast period. AR segment accounted for the highest market share in 2021. Factors such as new product launches and growing adoption of AR in different application areas, including metaverse, are expected to drive the growth of the segment. The increasing use of AR-infused navigation for technological destination tours and the growing application of AR to improve local transit will drive the growth of the segment during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the metaverse market size in travel and tourism industry and actionable market insights on the post-COVID-19 impact on each segment.

 

Metaverse Market Scope in Travel and Tourism Industry

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 26.01%

Market growth 2022-2026

$ 188.24 billion

Market structure

Fragmented

YoY growth (%)

25.34

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., LynKey International Ltd., Marriott International Inc., Mytaverse Inc., Powerbridge Technologies Co. Ltd., Qatar Airways Group, Queppelin, and Wilkins Avenue AR

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

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What are the Key Data Covered in this Metaverse Market in Travel and Tourism Industry Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive metaverse market growth in travel and tourism industry during the next five years
  • Precise estimation of the metaverse market size in travel and tourism industry and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the metaverse industry in travel and tourism industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of metaverse market vendors in travel and tourism industry

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 AR - Market size and forecast 2021-2026
      • Exhibit 28: Chart on AR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on AR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on AR - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on AR - Year-over-year growth 2021-2026 (%)
    • 5.4 Blockchain - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Blockchain - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Blockchain - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Blockchain - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Blockchain - Year-over-year growth 2021-2026 (%)
    • 5.5 VR - Market size and forecast 2021-2026
      • Exhibit 36: Chart on VR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on VR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on VR - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on VR - Year-over-year growth 2021-2026 (%)
    • 5.6 MR - Market size and forecast 2021-2026
      • Exhibit 40: Chart on MR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on MR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on MR - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on MR - Year-over-year growth 2021-2026 (%)
    • 5.7 XR - Market size and forecast 2021-2026
      • Exhibit 44: Chart on XR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on XR - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on XR - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on XR - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Application
      • Exhibit 48: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 62: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 90: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 Accenture Plc
              • Exhibit 101: Accenture Plc - Overview
              • Exhibit 102: Accenture Plc - Business segments
              • Exhibit 103: Accenture Plc - Key news
              • Exhibit 104: Accenture Plc - Key offerings
              • Exhibit 105: Accenture Plc - Segment focus
            • 10.4 Ariva Digital
              • Exhibit 106: Ariva Digital - Overview
              • Exhibit 107: Ariva Digital - Product / Service
              • Exhibit 108: Ariva Digital - Key offerings
            • 10.5 Infosys Ltd.
              • Exhibit 109: Infosys Ltd. - Overview
              • Exhibit 110: Infosys Ltd. - Business segments
              • Exhibit 111: Infosys Ltd. - Key news
              • Exhibit 112: Infosys Ltd. - Key offerings
              • Exhibit 113: Infosys Ltd. - Segment focus
            • 10.6 LynKey International Ltd.
              • Exhibit 114: LynKey International Ltd. - Overview
              • Exhibit 115: LynKey International Ltd. - Product / Service
              • Exhibit 116: LynKey International Ltd. - Key offerings
            • 10.7 Marriott International Inc.
              • Exhibit 117: Marriott International Inc. - Overview
              • Exhibit 118: Marriott International Inc. - Business segments
              • Exhibit 119: Marriott International Inc. - Key offerings
              • Exhibit 120: Marriott International Inc. - Segment focus
            • 10.8 Mytaverse Inc.
              • Exhibit 121: Mytaverse Inc. - Overview
              • Exhibit 122: Mytaverse Inc. - Product / Service
              • Exhibit 123: Mytaverse Inc. - Key offerings
            • 10.9 Powerbridge Technologies Co. Ltd.
              • Exhibit 124: Powerbridge Technologies Co. Ltd. - Overview
              • Exhibit 125: Powerbridge Technologies Co. Ltd. - Product / Service
              • Exhibit 126: Powerbridge Technologies Co. Ltd. - Key offerings
            • 10.10 Qatar Airways Group
              • Exhibit 127: Qatar Airways Group - Overview
              • Exhibit 128: Qatar Airways Group - Product / Service
              • Exhibit 129: Qatar Airways Group - Key offerings
            • 10.11 Queppelin
              • Exhibit 130: Queppelin - Overview
              • Exhibit 131: Queppelin - Product / Service
              • Exhibit 132: Queppelin - Key offerings
            • 10.12 Wilkins Avenue AR
              • Exhibit 133: Wilkins Avenue AR - Overview
              • Exhibit 134: Wilkins Avenue AR - Product / Service
              • Exhibit 135: Wilkins Avenue AR - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 136: Inclusions checklist
                • Exhibit 137: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 138: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 139: Research methodology
                • Exhibit 140: Validation techniques employed for market sizing
                • Exhibit 141: Information sources
              • 11.5 List of abbreviations
                • Exhibit 142: List of abbreviations
              • The global metaverse market in travel and tourism industry is subject to rapidly changing consumer demands and preferences. The changing consumer buying pattern may affect vendor performance in the market. It may also be affected by consumer preference, global and regional economic conditions, and various other demographic trends. Changing economic conditions are affecting end-user living standards, which can also affect vendors' businesses. The market is fragmented due to the presence of several international and domestic vendors. Vendors such as LynKey International Ltd., Marriott International Inc., Mytaverse Inc.,

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Metaverse Market in Travel and Tourism Industry market growth will increase by $188249.66 million during 2022-2026.
                The metaverse market in travel and tourism industry market is expected to grow at a CAGR of 26.01% during 2022-2026.
                Technavio has segmented the metaverse market in travel and tourism industry market by application (AR, Blockchain, VR, MR, and XR) and geographic (North America, Europe, APAC, South America, and Middle East and Africa).
                Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., LynKey International Ltd., Marriott International Inc., Mytaverse Inc., Powerbridge Technologies Co. Ltd., Qatar Airways Group, Queppelin, Wilkins Avenue AR are a few of the key vendors in the metaverse market in travel and tourism industry market.
                North America will register the highest growth rate of 37.32% among the other regions. Therefore, the metaverse market in travel and tourism industry market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the metaverse market in travel and tourism industry market growth are:
                • Increasing demand for AR and VR technology
                • Increasing focus on increasing booking volume by enhancing the booking experience
                The metaverse market in travel and tourism industry market vendors should focus on grabbing business opportunities from the ar segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
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                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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