What is Virtual Travel Platform Market?
Virtual travel platform offers users real-time travel to any location or destination by using advanced technologies. Increasing penetration of augmented & virtual reality solutions and the evolution of metaverse have created significant opportunities for virtual travel. Virtual travel is becoming more popular among people who donít want to spend much money on real traveling. It also allows exploring areas that are affected by natural disasters or fighting terrorism, valleys, south poles, etc. However, the companies are also offering virtual travel platforms with digital human avatars to interact with people and provide much immersive experience during the travel. More and more schools and educational institutions are implementing virtual travel platforms as a learning portal for students, which will create noteworthy growth for the market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Virtually Visiting (United Kingdom), Google (United States), Proxgy (India), QuaQua (India), Heygo (United Kingdom), AirPano (Russia), Klapty (Switzerland), Beeyonder (United States), XplorIt (United States), Ana Holdings Inc. (Japan), Virtual Travel, Ascape VR (United States), Weezy VR (Switzerland) and Sites in VR|
The market study is being classified by Type (Desktop-based, Mobile Apps and VR Headset-based), by Application (Education and Traveling) and major geographies with country level break-up..
Virtually Visiting (United Kingdom), Google (United States), Proxgy (India), QuaQua (India), Heygo (United Kingdom), AirPano (Russia), Klapty (Switzerland), Beeyonder (United States), XplorIt (United States), Ana Holdings Inc. (Japan), Virtual Travel, Ascape VR (United States), Weezy VR (Switzerland) and Sites in VR are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States & European Players will contribute to the maximum growth of Global Virtual Travel Platform market throughout the forecasted period.
Analyst at AMA have segmented the market study of Global Virtual Travel Platform market by Type, Application and Region.
On the basis of geography, the market of Virtual Travel Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Boost of Virtual Traveling Among the Travel Enthusiasts During and Post-Pandemic
- Increasing Preference Towards the VR Headset-based Platforms Among the Users to Get Immersive Experience
- Emerging New Technologies Such as Metaverse and Virtual Reality Will Fuel the Growth of the Market
- Slow Adoption in Some Developing and Underdeveloped Countries Due to Lack of Awareness about New Technology and High Rates of Creating Virtual Travel
- Use of Virtual Travel Platform in the Education for Virtual Field Trips to Learn Real-time and Gain Beyond Book Knowledge
- Growing Digital Transformation of Tourism Industry and Use of Online Platforms to Distribute VR Travel Video Content
- Less Economical Benefits Compared to Traditional Tourism May Affect the Growth of Virtual Travel Platforms in the Tourism Industry
Market Leaders and some development strategies
In May 2021, ANA Holdings, Inc. partnered with JP Games for the launch of an interactive virtual platform, ANA NEO for traveling and online shopping. The travel platform will allow users to explore the digital world with a wide range of customization options.
In March 2022, Virtually Visiting introduced its new professionally guided 360-degree virtual travel platform including destinations from Arctic North to the coast of South Africa. The companyís new virtual travel platform supports VR headsets, desktops, and mobile devices like smartphones or tablets to view the virtual world. To deliver the 360-degree virtual tour the company is working with professional tour guides from 55 tour companies across 30 countries and virtual reality experts.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Virtual Travel Platform Providers, Venture Capitalists and Private Equity Firms, End-Users and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Virtual Travel Platform Market?
"Boost of Virtual Traveling Among the Travel Enthusiasts During and Post-Pandemic
" is seen as one of major growth factors of Virtual Travel Platform Market in years to come.
2. Can we have customized study for Virtual Travel Platform Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Virtual Travel Platform Market?
United States & European will lead Virtual Travel Platform Market in coming years.