The Global Virtual Tourism Market has been valued at US$ 5 billion in the year 2021 and it is estimated to reach US$ 24.10 billion by the year 2027, with a CAGR of 30.95% from 2022 to 2027. Virtual Tourism is essentially a hybrid concept- it combines both the notions of virtual reality and tourism. In essence, virtual tourism facilitates a tourism experience, without actually having to travel anywhere. Virtual tourism takes many different forms and comes in vary degrees of technological capability. ; these are the main factors that have considerably increased the demand for the Virtual Tourism in the market, thereby driving the huge growth of the Virtual Tourism market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the Virtual Tourism in the market is mainly due to the Increasing adoption of digital technology to provide real-time tour experience to customers for tour and travel booking is expected to drive the market growth. Increasing consumer spending on AR/VR technology is expected to set a new trend of digital tours in the tourism industry. Increasing awareness about new technologies among users and guests is expected to create new revenue opportunities for solution providers and encourages the development of advanced solutions for the tourism industry these are the main factors that have considerably increased the demand for the Virtual Tourism in the market, thereby driving the huge growth of the Virtual Tourism market in the upcoming years

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Report is segmented as:

Virtual Tourism Market is segmented on the basis of by:

By Product Type (Cloud Based, Web Based),

By Device Type (Head Mounted, Gesture Tracking),

By Application (Real Estate Professionals, Tourism Industries, Marketing Professionals)

Geographical Segmentation:

Virtual Tourism Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Virtual Tourism is due to the presence of key solution providers and increasing investment by travel companies on advanced tools and technologies to improve the customer experience in the region. These are the main factors that have considerably increased the demand for the Virtual Tourism in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Virtual Tourism Market

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Impact of COVID-19 on Market

Covid -19 pandemic has affected every industry, and the long-term consequences are projected to influence the Virtual Tourism boom for the duration of the forecast period. Covid-19 pandemic has impacted large on the income of Virtual Tourism market. COVID-19 has adversely affected the Virtual Tourism market. The restrictions and lockdown imposed by means of the authorities in quite a few international locations has gradual down the market and reduce the Virtual Tourism. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Virtual Tourism market growth.

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