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Global AR VR in the Hospitality Market, By Product Type, By Device Type, By Application, By Region, Trend Analysis, Competitive Market Share & Forecast, 2018-2028

  • ID: 5585201
  • Report
  • March 2022
  • Region: Global
  • 184 Pages
  • Blueweave Consulting & Research Pvt Ltd

AR VR in Hospitality Market to Grow at over 30% through 2028


The growing emphasis on offering more engaging and immersive travel and hospitality experience to customers has enabled a growing demand for AR and VR devices across some of the travel-driven economies. It has thus resulted in propelling the growth of the global AR VR in the hospitality market. In addition to this, the government is allocating a growing number of investments to uplift the travel, tourism and hospitality segments of their respective countries for providing a due push to the sector, which is fueling the growth and adoption of more technologies in such sector, thereby enabling opportunities for incorporation of AR and VR devices, thus positively impacting the growth of the global AR VR in the hospitality market.

A study recently revealed that the global AR VR in the hospitality market is expected to grow at a CAGR of 34.2% during the forecast period (2022-2028). The rising number of tourist arrivals coupled with the growing investments by the governments to push the hospitality industry have been positively impacting the adoption of the latest technologies like AR and VR.

Rising inclination of some travel driven economies to adopt VR technology in tourism is driving the global AR VR in hospitality market


The rising dependence over the hospitality segments across some of the developing and emerging countries like Maldives, Macao, Aruba, Thailand, and others, have called for a growing number of investments in such sectors. The growing penetration of Metaverse-like technologies and the aim to augment it to that of the hospitality segment for some companies have enabled opportunities for the incorporation of VR and AR devices across these countries. Some travel-driven economies have even started adopting such technologies to attract more tourists to their destinations, thereby enabling a higher demand from such countries. For instance, in December 2020, Maldives Marketing and Public Relations Corporation (MMPRC) announced that the company signed an agreement with Visit Maldives Initiative to offer a 360-degree VR capability tour to its potential tourists. Such initiatives have bolstered the growth of the global AR VR in the hospitality market.

Increasing tourism expenditures to create immersive experiences have enabled higher demand for the AR VR devices


There is a rising trend in international tourism that has been recorded for the past few years, which has resulted in growing tourism expenditure across the world. According to the World Bank, the United States registered its international tourism soaring from USD 176.8 billion (2018) to USD 186.0 billion (2019). In addition to this, France witnessed an increase of USD 600 million in international expenditure for the same period. It is demonstrating a transformation that may bring about the change in technologies used in the tourism industry across the world. The AR capabilities have been found to create a more immersive travel and dining experience as it enables higher interactivity, provides more engaging views, and interfaces for tackling language barriers, which has even provided real-time information for offering a convenient journey. It has resulted in driving the demand for AR and VR devices across the tourism sector, which is positively impacting the growth of the global AR VR in the hospitality market.

Visualization sub-segment occupied largest share in the application category of global AR VR in hospitality market


Based on the application, the global AR VR in the hospitality market has been segmented into documentation, 3D modeling, visualization, workflow optimization, navigation, and others. The visualization segment acquired the largest share in the global AR VR in the hospitality market in 2021. Since AR and VR have assisted in experiencing the next generation's visualization capabilities, they have made it possible to peek into the experience of travel tours, resorts, and other hospitable locations to enhance the way travelers roam in touristy places. The technologies have enabled a higher level of visualization to enable a more immersive experience for the travelers, and assist them in identifying the hidden gems of some places, negative and positive aspects of certain locations even more thoroughly, thus offering an extensive view and transforming the way that a tour takes place. It has been garnering attention all over the world, which has propelled the demand for such VR and AR devices, thereby driving the growth of the global AR VR in the hospitality market.

Global AR VR in Hospitality Market: Regional Insights


The global AR VR in the hospitality market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. Europe region held the largest share in the global AR VR in the hospitality market in 2021. According to the World Bank International tourism statistics, France stood at the top when it comes to the number of tourists visiting a country. It stated that France registered a hike from 211 million tourists in 2018 to 217 million in 2019, and fell to 117 million arrivals in 2020. Such a statistic translates into a growing number of tourists across the country, which is propelling the demand for more robust tech technologies to cater to the demands of the people and enable more extensive and memorable experiences for their tourists, which is driving the demand for AR and VR devices across the country, thereby driving the growth for global AR VR in the hospitality market.

COVID Impact Analysis - Global AR VR in Hospitality Market


The COVID-19 pandemic negatively impacted the growth of the global AR VR in the hospitality market. According to the Tourism Statistics released by respective governmental authorities, France witnessed a decline of 46.2% in tourist arrivals from 2019 to 2020. On the other hand, the United States recorded a fall of 72.8% in tourist arrivals from 2019 to 2020. It completely hampered the growth of the tourism allied sectors including travel guides, resorts, hotels, restaurants, and others, which substantially impacted the growth of technologies as they come with higher implementation costs. It resulted in reduced adoption of VR and AR technologies and hotels started resorting to conventional methods. However, the demonstrations related to AR technology have presented excellent results in diminishing the number of hands that could have been used in the documentation while registering for dining and hotels, which has helped in reducing the spread of the virus. In addition to this, some countries like the U.S. and Maldives are delivering grants to uplift the travel and hospitality sector, which is anticipated to bring about a growth in adoption of the latest technologies to augment the travel tour of the customers, which is expected to propel the growth of the global AR VR in the hospitality market in the coming years.

The leading players in the global AR VR in hospitality market are Apple Inc., Google, LLC, EON Reality, Inc., Dell Technologies Inc., Barco N.V., HTC Corporation, Microsoft Corporation, Sony Corporation, Sega Corporation, Shanghai Lexiang Technology Co. Ltd (DPVR), and other prominent players. The global AR VR in the hospitality market is moderately consolidated owing to the reduced availability of some players that have been catering to the demands of the consumers across one particular sector of the industry.

In November 2021, DPVR (a Shanghai-based company with a specialization in virtual reality (VR) device manufacturing) announced that they are entering into a partnership with Travel Africa Network (TAN) (a South African international satellite travel channel) for serving as a VR technology provider and provide customized VR hardware as well as software services to TAN.

Don’t miss the business opportunity of the global AR VR in hospitality market. Consult the report to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global AR VR in hospitality market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global AR VR in hospitality market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.


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1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary and Secondary Sources
2.2. Quantitative Research
2.2.1. Primary and Secondary Sources
2.3. Breakdown of Primary Research Respondents
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.5. Key Questionnaire asked during Primary Interviews
2.6. Key Primary Responses
2.7. Market Size Estimation
2.8. Assumption for the Study
2.9. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global AR VR in the Hospitality Market – Industry Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunity
4.2.4. Challenges
4.3. Recent Developments/Technical Landscape
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
5. Global AR VR in the Hospitality Market Overview
5.1. Market Estimates & Forecast by Value, 2018-2028
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Product Type
5.2.1.1. Hardware
5.2.1.2. Software
5.2.1.3. Service
5.2.2. By Device Type
5.2.2.1. Handheld Devices
5.2.2.2. Head Mounted Displays
5.2.2.3. Smart Glasses
5.2.2.4. Others
5.2.3. By Application
5.2.3.1. Documentation
5.2.3.2. 3D Modelling
5.2.3.3. Visualization
5.2.3.4. Workflow Optimization
5.2.3.5. Navigation
5.2.3.6. Others
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. The Asia-Pacific
5.2.4.4. Latin America
5.2.4.5. The Middle-East & Africa
6. North America AR VR in the Hospitality Market Overview
6.1. Market Size and Forecast
6.1.1. By Value (USD Million), 2018-2028
6.2. Market Share and Forecast
6.2.1. By Product Type
6.2.2. By Device Type
6.2.3. By Application
6.2.4. By Country
6.2.4.1. U.S.
6.2.4.2. Canada
7. Europe AR VR in the Hospitality Market Overview
7.1. Market Size and Forecast
7.1.1. By Value (USD Million), 2018-2028
7.2. Market Share and Forecast
7.2.1. By Product Type
7.2.2. By Device Type
7.2.3. By Application
7.2.4. By Country
7.2.4.1. Germany
7.2.4.2. U.K.
7.2.4.3. Russia
7.2.4.4. France
7.2.4.5. Italy
7.2.4.6. Spain
7.2.4.7. Rest of Europe
8. Asia-Pacific AR VR in the Hospitality Market Overview
8.1. Market Size and Forecast
8.1.1. By Value (USD Million), 2018-2028
8.2. Market Share and Forecast
8.2.1. By Product Type
8.2.2. By Device Type
8.2.3. By Application
8.2.4. By Country
8.2.4.1. China
8.2.4.2. India
8.2.4.3. Japan
8.2.4.4. South Korea
8.2.4.5. Rest of APAC
9. Latin America AR VR in the Hospitality Market Overview
9.1. Market Size and Forecast
9.1.1. By Value (USD Million), 2018-2028
9.2. Market Share and Forecast
9.2.1. By Product Type
9.2.2. By Device Type
9.2.3. By Application
9.2.4. By Country
9.2.4.1. Mexico
9.2.4.2. Brazil
9.2.4.3. Rest of Latin America
10. Middle East & Africa AR VR in the Hospitality Market Overview
10.1. Market Size and Forecast
10.1.1. By Value (USD Million), 2018-2028
10.2. Market Share and Forecast
10.2.1. By Product Type
10.2.2. By Device Type
10.2.3. By Application
10.2.4. By Country
10.2.4.1. Saudi Arabia
10.2.4.2. UAE
10.2.4.3. South Africa
10.2.4.4. Rest of Middle East & Africa
11. Competitive Landscape
11.1. List of Key Producers and Their Offerings
11.2. Market Share/Ranking Analysis (2021)
11.3. Competitive Benchmarking, By Operating Parameters
11.4. Key Developments & Growth Strategies
12. Impact of COVID-19 Across Industry
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
13.1. Apple Inc.
13.2. Google, LLC
13.3. EON Reality, Inc.
13.4. Dell Technologies Inc.
13.5. Barco N.V.
13.6. HTC Corporation
13.7. Microsoft Corporation
13.8. Sony Corporation
13.9. Sega Corporation
13.10. Shanghai Lexiang Technology Co. Ltd (DPVR)
13.11. Other prominent players
14. Key Strategic Recommendations
* Financial information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.
List of Figures
Figure 1: Global AR VR in the Hospitality Market Segmentation
Figure 2: Global AR VR in the Hospitality Market Porters Analysis
Figure 3: Global AR VR in the Hospitality Market Industry Value Chain Analysis
Figure 4: Global AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Figure 5: Global AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Figure 6: Global AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Figure 7: Global AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Figure 8: Global AR VR in the Hospitality Market Share, By Region, By Value, 2018-2028
Figure 9: North America AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Figure 10: North America AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Figure 11: North America AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Figure 12: North America AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Figure 13: North America AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Figure 14: Europe AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Figure 15: Europe AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Figure 16: Europe AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Figure 17: Europe AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Figure 18: Europe AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Figure 19: Asia-Pacific AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Figure 20: Asia-Pacific AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Figure 21: Asia-Pacific AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Figure 22: Asia-Pacific AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Figure 23: Asia-Pacific AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Figure 24: Latin America AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Figure 25: Latin America AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Figure 26: Latin America AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Figure 27: Latin America AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Figure 28: Latin America AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Figure 29: Middle East & Africa AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Figure 30: Middle East & Africa AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Figure 31: Middle East & Africa AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Figure 32: Middle East & Africa AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Figure 33: Middle East & Africa AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Figure 34: Global AR VR in the Hospitality Market Company Market Share Analysis, 2021
List of Tables
Table 1: Global AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Table 2: Global AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Table 3: Global AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Table 4: Global AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Table 5: Global AR VR in the Hospitality Market Share, By Region, By Value, 2018-2028
Table 6: North America AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Table 7: North America AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Table 8: North America AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Table 9: North America AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Table 10: North America AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Table 11: Europe AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Table 12: Europe AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Table 13: Europe AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Table 14: Europe AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Table 15: Europe AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Table 16: Asia-Pacific AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Table 17: Asia-Pacific AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Table 18: Asia-Pacific AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Table 19: Asia-Pacific AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Table 20: Asia-Pacific AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Table 21: Latin America AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Table 22: Latin America AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Table 23: Latin America AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Table 24: Latin America AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Table 25: Latin America AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Table 26: Middle East & Africa AR VR in the Hospitality Market Size, By Value (USD Million), 2018-2028
Table 27: Middle East & Africa AR VR in the Hospitality Market Share, By Product Type, By Value, 2018-2028
Table 28: Middle East & Africa AR VR in the Hospitality Market Share, By Device Type, By Value, 2018-2028
Table 29: Middle East & Africa AR VR in the Hospitality Market Share, By Application, By Value, 2018-2028
Table 30: Middle East & Africa AR VR in the Hospitality Market Share, By Country, By Value, 2018-2028
Table 31: Apple Inc. Financial Analysis
Table 32: Google, LLC Financial Analysis
Table 33: EON Reality, Inc. Financial Analysis
Table 34: Dell Technologies Inc. Financial Analysis
Table 35: Barco N.V. Financial Analysis
Table 36: HTC Corporation Financial Analysis
Table 37: Microsoft Corporation Financial Analysis
Table 38: Sony Corporation Financial Analysis
Table 39: Sega Corporation Financial Analysis
Table 40: Shanghai Lexiang Technology Co. Ltd (DPVR) Financial Analysis
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