Product Code: GVR-4-68040-456-0
Virtual Tourism Market Growth & Trends:
The global virtual tourism market size is expected to reach USD 30.54 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 24.9% from 2024 to 2030. Virtual tourism has emerged as a transformative force in the travel industry, revolutionizing how we explore and experience new destinations. This innovative approach leverages cutting-edge technologies like virtual reality (VR) and augmented reality (AR) to offer immersive travel experiences from the comfort of one's home. Virtual tours, which are becoming increasingly popular, allow users to traverse iconic landmarks, museums, and other attractions without the need for physical travel. With players such as Google Earth VR, Oculus, and HTC leading the charge, virtual tourism is not just a trend but a significant shift in how we engage with the world.
The rise of virtual tourism reflects a broader trend towards digital exploration. Companies like Matterport and Xplorit are pushing the envelope by creating high-resolution, interactive virtual tours that capture the essence of physical locations. This shift has been driven by advancements in VR technology, which enable users to experience destinations in unprecedented detail. The ability to navigate through virtual environments and interact with digital elements has broadened the scope of what virtual tourism can offer, from exploring the Louvre in Paris to diving into the Great Barrier Reef.
One of the key opportunities in the virtual tourism industry is its potential to enhance accessibility. Virtual tours provide a valuable resource for individuals who may face physical limitations or travel restrictions. For instance, platforms like Ascape VR and Dubai 360 are making it easier for users to access and enjoy remote or challenging locations. This inclusivity is not only beneficial for users but also offers a new avenue for businesses and institutions to engage with a global audience, attracting interest and generating potential revenue.
However, virtual tourism is not without its challenges. Critics have raised concerns about the potential impact on physical travel and local economies that depend on tourism. The ethical implications of virtual experiences, such as cultural appropriation and the commodification of cultural heritage, also need to be addressed. Companies in the virtual tourism space must navigate these issues carefully, ensuring that their offerings respect and preserve the cultural significance of the destinations they represent.
The integration of virtual and physical travel experiences is poised to offer a seamless continuum for explorers. Futurists envision a travel landscape where virtual previews of destinations can complement and enhance physical journeys. This convergence could lead to more personalized and adaptive travel experiences, allowing users to plan and experience their trips in innovative ways. As virtual tourism continues to evolve, the possibilities for exploration and engagement with the world are expanding, offering new opportunities for both travelers and industry players.
Virtual Tourism Market Report Highlights:
- 3D virtual tours accounted for a majority share of the global market in 2023. Such tours offer immersive, interactive experiences that simulate real-world travel. These tours allow users to explore destinations from the comfort of their homes, providing detailed, 360-degree views and interactive elements.
- Demand for virtual tourism in art galleries and museums is anticipated to rise significantly from 2024 to 2030. Virtual tourism in art galleries and museums allows users to explore exhibitions and collections from anywhere in the world, overcoming geographical and physical limitations.
- The virtual tourism market in Asia Pacific is set to grow majorly from 2024 to 2030. The region's diverse cultural heritage, historical landmarks, and natural attractions offer rich content for virtual tours. Rising consumer interest in digital and remote experiences, coupled with a growing middle class with disposable income, drives demand for virtual tourism.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Materials & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Type Outlook
- 2.3. Application Outlook
- 2.4. Regional Outlook
- 2.5. Competitive Landscape Snapshot
Chapter 3. Virtual Tourism Market Variables and Trends
- 3.1. Market Introduction
- 3.2. Industry Value Chain Analysis
- 3.2.1. Booking Mode Trends & Outlook
- 3.2.2. Profit Margin Channel Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Market Opportunities
- 3.3.4. Market Challenges
- 3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
- 3.5. Market Entry Strategies
Chapter 4. Virtual Tourism Market: Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends & Preferences
- 4.3. Factors Affecting Buying Decisions
- 4.4. Consumer Service Adoption
- 4.5. Observations & Recommendations
Chapter 5. Virtual Tourism Market: Traveler Type Estimates & Trend Analysis
- 5.1. Virtual Tourism Market, By Type: Key Takeaways
- 5.2. Type Movement Analysis & Market Share, 2023 & 2030
- 5.3. Market Estimates & Forecasts, by Type, 2018 - 2030 (USD Billion)
- 5.3.1. 360 Virtual Tours
- 5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 5.3.2. 3D Virtual Tours
- 5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 5.3.3. Virtual Reality (VR) Tours
- 5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 6. Virtual Tourism Market: Application Estimates & Trend Analysis
- 6.1. Virtual Tourism Market, By Application: Key Takeaways
- 6.2. Application Movement Analysis & Market Share, 2023 & 2030
- 6.3. Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.3.1. Tourism
- 6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2. Real Estate
- 6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3. Art Galleries and Museums
- 6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.4. Others
- 6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 7. Virtual Tourism Market: Regional Estimates & Trend Analysis
- 7.1. Virtual Tourism Market: Regional Outlook
- 7.2. Regional Marketplaces: Key Takeaways
- 7.3. Market Estimates & Forecasts, by Region, 2018 - 2030 (USD Billion)
- 7.3.1. North America
- 7.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.1.2. U.S.
- 7.3.1.2.1. Key country dynamics
- 7.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.1.3. Canada
- 7.3.1.3.1. Key country dynamics
- 7.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.1.4. Mexico
- 7.3.1.4.1. Key country dynamics
- 7.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2. Europe
- 7.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.2. U.K.
- 7.3.2.2.1. Key country dynamics
- 7.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.3. Germany
- 7.3.2.3.1. Key country dynamics
- 7.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.4. France
- 7.3.2.4.1. Key country dynamics
- 7.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.5. Italy
- 7.3.2.5.1. Key country dynamics
- 7.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.6. Spain
- 7.3.2.6.1. Key country dynamics
- 7.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3. Asia Pacific
- 7.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.2. China
- 7.3.3.2.1. Key country dynamics
- 7.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.3. Japan
- 7.3.3.3.1. Key country dynamics
- 7.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.4. India
- 7.3.3.4.1. Key country dynamics
- 7.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.4. Central & South America
- 7.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.4.2. Brazil
- 7.3.4.2.1. Key country dynamics
- 7.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.4.3. Argentina
- 7.3.4.3.1. Key country dynamics
- 7.3.4.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.5. Middle East & Africa
- 7.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.5.2. South Africa
- 7.3.5.2.1. Key country dynamics
- 7.3.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.5.3. Saudi Arabia
- 7.3.5.3.1. Key country dynamics
- 7.3.5.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 8. Virtual Tourism Market: Competitive Analysis
- 8.1. Recent Developments & Impact Analysis, by Key Market Participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Market Share Analysis, 2023 (%)
- 8.7. Company Heat Map Analysis, 2023
- 8.8. Strategy Mapping
- 8.9. Company Profiles
- 8.9.1. Marriott International
- 8.9.1.1. Company Overview
- 8.9.1.2. Financial Performance
- 8.9.1.3. Product Portfolios
- 8.9.1.4. Strategic Initiatives
- 8.9.2. First Airlines
- 8.9.2.1. Company Overview
- 8.9.2.2. Financial Performance
- 8.9.2.3. Product Portfolios
- 8.9.2.4. Strategic Initiatives
- 8.9.3. Visit Wales
- 8.9.3.1. Company Overview
- 8.9.3.2. Financial Performance
- 8.9.3.3. Product Portfolios
- 8.9.3.4. Strategic Initiatives
- 8.9.4. Google Earth VR
- 8.9.4.1. Company Overview
- 8.9.4.2. Financial Performance
- 8.9.4.3. Product Portfolios
- 8.9.4.4. Strategic Initiatives
- 8.9.5. Dubai 360
- 8.9.5.1. Company Overview
- 8.9.5.2. Financial Performance
- 8.9.5.3. Product Portfolios
- 8.9.5.4. Strategic Initiatives
- 8.9.6. Bristol From Home
- 8.9.6.1. Company Overview
- 8.9.6.2. Financial Performance
- 8.9.6.3. Product Portfolios
- 8.9.6.4. Strategic Initiatives
- 8.9.7. Ascape VR
- 8.9.7.1. Company Overview
- 8.9.7.2. Financial Performance
- 8.9.7.3. Product Portfolios
- 8.9.7.4. Strategic Initiatives
- 8.9.8. Xplorit
- 8.9.8.1. Company Overview
- 8.9.8.2. Financial Performance
- 8.9.8.3. Product Portfolios
- 8.9.8.4. Strategic Initiatives
- 8.9.9. Matterport
- 8.9.9.1. Company Overview
- 8.9.9.2. Financial Performance
- 8.9.9.3. Product Portfolios
- 8.9.9.4. Strategic Initiatives
- 8.9.10. Expedia
- 8.9.10.1. Company Overview
- 8.9.10.2. Financial Performance
- 8.9.10.3. Product Portfolios
- 8.9.10.4. Strategic Initiatives