Augmented Reality in Travel and Tourism Global Market Report 2024

The global augmented reality in travel and tourism market 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.

The global augmented reality in travel and tourism market is expected to see exponential growth in the next few years. It will grow to $78.14 billion in 2028 at a compound annual growth rate (CAGR) of 38.2%. The growth in the forecast period can be attributed to augmented travel booking, educational tourism, adventure and nature tourism, user-generated content sharing. Major trends in the forecast period include wearable ar devices, wayfinding and navigation solutions, contactless experiences, cultural storytelling.

The surge in demand for travel and tourism is poised to significantly contribute to the expansion of augmented reality within the travel and tourism market. Travel and tourism activities encompass the movement of individuals for purposes such as leisure, recreation, business, and more. Augmented reality has emerged as a catalyst for the demand in these industries, fostering the emergence of smart tourism and elevated travel experiences that render destinations more immersive, informative, and captivating. As evidenced in June 2022, according to reports from the US Department of Commerce 2021 Highlights, international arrivals for travel and tourism in US states saw a notable increase, rising from 19.2 million in 2020 to 22.1 million in 2021. Consequently, the mounting demand for travel and tourism plays a pivotal role in propelling the growth of augmented reality within this sector.

The rising adoption of augmented reality (AR) and virtual reality (VR) is expected to be a driving force for the expansion of augmented reality in the travel and tourism sector. Augmented reality enhances the real world with computer-generated elements, while virtual reality immerses users in a completely computer-generated environment. Together, these technologies enhance travel experiences by providing informative, interactive, and engaging encounters. They empower travelers with information, aid in overcoming language barriers, and create distinctive and memorable moments at various tourist destinations. In January 2022, the Department for Business and Trade, a UK-based ministerial department, projected an expected growth rate for spending on AR and VR in the UK to be 78.3% until 2024. This surge in investment is anticipated to lead to a total expenditure of £76.55 billion by 2030. Consequently, the increasing adoption of augmented reality and virtual reality is significantly contributing to the growth of augmented reality in the travel and tourism market.

The augmented reality (AR) sector in travel and tourism faces a challenge in the form of high implementation costs. These costs arise from the intricacies involved in designing and manufacturing AR devices. These devices incorporate advanced components such as sensors, cameras, and computers, leading to substantial production expenses. For example, weAR, a Ukraine-based AR development company, highlighted that implementing AR in large-scale enterprise systems comes with a significant price tag ranging from $7,000 to $250,000. This underscores the considerable financial investment required, acting as a barrier to the widespread adoption of AR in the travel and tourism The augmented reality (AR) sector in travel and tourism faces a challenge in the form of high implementation costs. These costs arise from the intricacies involved in designing and manufacturing AR devices. These devices incorporate advanced components such as sensors, cameras, and computers, leading to substantial production expenses. For example, weAR, a Ukraine-based AR development company, highlighted that implementing AR in large-scale enterprise systems comes with a significant price tag ranging from $7,000 to $250,000. This underscores the considerable financial investment required, acting as a barrier to the widespread adoption of AR in the travel and tourism market.

Leading companies in the augmented reality (AR) travel and tourism sector are embracing cutting-edge technologies like AR-based adventure apps to maintain their competitive edge. An AR-based adventure app is a mobile application that leverages augmented reality technology to offer users an immersive and interactive experience. For example, in August 2021, Social Bee, a Germany-based mobile app service specializing in augmented reality, unveiled the Social Bee Adventures app tailored for the travel and tourism industry. This groundbreaking app utilizes AR technology to deliver self-guided tours, revolutionizing experiences in travel and tourism. Users can not only craft and share their own AR-based journeys, such as tours, scavenger hunts, and events, but also explore and acquire experiences curated by fellow users for convenient access. Additionally, creators have the option to monetize their experiences by setting a fee or offering them for free.

In August 2022, the US-based virtual and augmented reality platform company, Glimpse Group, finalized the acquisition of Brightline Interactive for an undisclosed sum. This strategic move is set to propel Glimpse Group's expansion in the enterprise-focused augmented and virtual reality market, enhancing its capabilities to cater to a wider customer base. Brightline Interactive, a US-based creative technology firm, specializes in the conceptualization, development, and implementation of interactive and virtual reality experiences.

Major players in the augmented reality in travel and tourism market are 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.

North America was the largest region in the augmented reality in travel and tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in augmented reality (AR) in travel and tourism report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the augmented reality (AR) in travel and tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key components of augmented reality in travel and tourism encompass hardware, software, and services. In this context, hardware pertains to the devices and equipment utilized to deliver AR experiences to travelers. AR-enabled hardware takes various forms, including smartphones, eyewear, and AR headsets. These technologies, including augmented reality and virtual reality, find applications in areas such as hospitality, in-flight entertainment, travel booking services, AR gamification, and navigation.

This report provides augmented reality in travel and tourism market statistics, including augmented reality in travel and tourism industry global market size, regional shares, competitors with augmented reality in travel and tourism market share, detailed augmented reality in travel and tourism market segments, market trends and opportunities and any further data you may need to thrive in the augmented reality in travel and tourism industry. This augmented reality in travel and tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The augmented reality (AR) in travel and tourism market consists of revenues earned by entities by providing services such as virtual sightseeing and exploration, interactive travel guides, virtual concierge services and AR-enabled museum exhibits. The market value includes the value of related goods sold by the service provider or included within the service offering. The augmented reality (AR) in travel and tourism market also includes sales of audio guide devices, educational AR kits, AR souvenirs, AR translation tools and AR maps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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