Metaverse Market in Travel and Tourism Industry Research Report by Technavio predicts USD 188.24 Bn growth -- North America to have a significant share

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Sep 28, 2022, 19:00 ET

NEW YORK, Sept. 28, 2022 /PRNewswire/ -- The metaverse market in travel and tourism industry is growing at a CAGR of 26.01% and is expected to register an incremental growth of USD 188.24 billion between 2021 and 2026. The report analyses the market behavior, and growth, and provides accurate predictions on the size of the market.

Technavio has announced its latest market research report titled Global Metaverse Market in Travel and Tourism Industry 2022-2026

The report recognizes the following as the key players in the metaverse market in travel and tourism industry: Accenture Plc, ALTERATION INDORUSSIA.COM, Ariva Digital, Infosys Ltd., and LynKey International Ltd. among others.
The global metaverse market structure in the travel and tourism industry is fragmented in nature.
North America to have a significant share in the metaverse market in travel and tourism industry.
Market to observe 25.34% YOY growth in 2022. View Sample Report Here.

Key Segments

The metaverse market in travel and tourism industry is segmented by application (AR, Blockchain, VR, MR, and XR).

The AR segment will generate maximum revenue in the market during the forecast period. The segment will be driven by new product launches and the growing adoption of AR in different application areas, including the metaverse.

Regional Growth Analysis

The global metaverse market in travel and tourism industry is analyzed across five regions — North America, Europe, APAC, South America, and the Middle East and Africa.

North America is currently the dominating region, occupying 37% of the global market share. Growing investments in AR technology from key vendors, rising adoption of technologically advanced applications among consumers, and robust research activities to increase metaverse applications are driving the growth of the metaverse market in North America.

Identify potential segments and regions to invest in over the forecast period. Read Sample Report Before Purchasing

Market Dynamics

The metaverse market in travel and tourism industry is expected to witness substantial growth during the forecast period, primarily due to the increasing demand for AR and VR technology. The adoption of virtual technologies such as AR and VR has increased significantly worldwide over the last decade. AR is widely being adopted to provide metaverse travel and tourism solutions like developing interactive hotel elements, VR tours, digital avatars, and other solutions to provide customer details about the property and make the customers aware of the facilities offered to them. Similarly, VR is being adopted to offer unique experiences to consumers in education, entertainment, commerce, and service industries. Such expanding application areas of AR and VR technologies are expected to drive the growth of the market during the forecast period.

The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report.

Vendor Landscape

The metaverse market in travel and tourism industry is fragmented due to the presence of several players and a few well-established players. Vendors in the market compete based on several factors such as innovation, price, service, distribution, and marketing. Some vendors are focusing on acquiring smaller brands to increase their market presence. The market is in the innovation stage and it is expected to witness a large entry of pureplay technology or other players during the forecast period.

Here are some of the products offered by key vendors:

Accenture Plc: The company offers metaverse in travel and tourism such as XR for unique traveler experiences.

Ariva Digital: The company offers ARV that is the tourism cryptocurrency that eliminates the need to carry cash or debit cards.

Infosys Ltd.: The company offers XR, DLT, 5G, AI, IoT with Infosys metaverse foundry.

LynKey International Ltd.: The company offers luxury resort and vacation property with Blockchain and AI tech. It also offers holiday experience NFTs.

Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the metaverse market in travel and tourism industry report:

Regional Analysis

Further breakdown of the market segmentation at requested regions.

Market Player Information

Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
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Metaverse Market In Travel And Tourism Industry Scope
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	USD 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
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 future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents:

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.,

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