As per the latest findings of Future Market Insights, the global virtual tourism market is expected to be USD 12.3 Billion by 2023. In the long term, virtual tourism is estimated to reach around USD 26.0 Billion in 2033.
Virtual tourism serves as a way to explore the destination, travel venues, and attraction sites without actually visiting the site. Virtual tourism brings amazing experiences, which is made possible due to the advancement in technology. Virtual tours bring a new form of marketing that brings the opportunity for tourists to experience tours in a visual environment.
With the rising adoption of smartphones, and various technological advances in terms of tours, the experience of virtual tours holds significance and it is driving the tourism market. Since virtual tours can be experienced through smartphones and big screens, more and more people are choosing them these days.
The implementation of Augmented Reality (AR) is bringing new growth opportunities for the virtual tourism sector and with the aid of contemporary smartphones, virtual tours are bound to expand on a larger scale and extended to reach more people.
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Key Trends in the Virtual Tourism Market
The virtual tourism market is experiencing a transformative shift as technological advancements continue to redefine the way we explore the world. In an era marked by global connectivity and immersive digital experiences, several key trends are shaping the landscape of virtual tourism. This content highlights some of the pivotal developments driving this dynamic industry.
- Immersive Technologies Take Center Stage: Virtual Reality (VR) and Augmented Reality (AR) technologies are at the forefront of the virtual tourism revolution. These immersive technologies offer users the ability to explore destinations in a realistic and interactive manner, transcending geographical boundaries. The integration of VR and AR is enhancing the overall user experience, making virtual tourism an increasingly attractive alternative to physical travel.
- Virtual Guided Tours and Experiences: The rise of virtual guided tours and experiences allows users to virtually visit iconic landmarks, museums, and cultural sites from the comfort of their homes. Companies are leveraging high-quality 360-degree videos and virtual guides to provide users with a personalized and informative journey, creating a more engaging and educational virtual tourism experience.
- Collaboration with Travel Industry Players: Virtual tourism is not viewed as a competitor to traditional travel but rather as a complementary experience. Key players in the travel industry, such as airlines, hotels, and travel agencies, are recognizing the potential of virtual tourism in marketing and customer engagement. Collaborations between virtual tourism platforms and these industry players are on the rise, offering users a seamless blend of physical and virtual travel experiences.
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Global Virtual Tourism Market by Category
By Direct Suppliers:
- Airlines
- Hotel Campaigns
- Tour Operators
- Government Bodies
By Indirect Suppliers:
- Online Travel Agency
- Traditional Travel Agencies
- Travel Management Companies
- Corporate Buyers
- Aggregators
By Number of Bookings:
- By Age:
- Under 18
- 18-35
- 36-45
- 46-55
- Over 55
- By Demographic:
- Male
- Female
- Kids
- By Booking Channel:
- Online Booking
- Booking via Agent
By Tour Type:
- 360 Virtual Tour
- 3D Virtual tour
- Virtual Reality Tour
By Country:
- U.S.
- Canada
- Brazil
- Mexico
- Germany
- U.K.
- France
- Spain
- Russia
- India
- China
- Japan
- Malaysia
- Singapore
- Australia
- UAE
- KSA
- Italy
- Qatar
- Oman
- RoW
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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