Market size for tourist virtual reality headsets to reach USD 994mn by 2033: Report
The market size for tourist virtual reality headsets was valued at USD 610.0 million in 2023, and it is anticipated to grow at 5.0% annually to reach USD 994.4 million by 2033, as per a Tourist Virtual Reality Headsets Market Soars as Travellers Seek Enhanced Immersive Travel Experiences; Future Market Insights Report.
The leading virtual reality technologies used in virtual reality tourism are virtual reality video and virtual reality photography. Virtual reality works like a normal video but is far different from a normal one. The virtual reality video helps the user to explore the entire scene while the video is playing. It is captured using special cameras popularly known as omnidirectional cameras. The camera shoots every angle of the destination. Further, these videos are converted into monoscopic or stereoscopic virtual tourism videos.
The monoscopic videos can be viewed on regular devices like phones and computers. The viewer can drag across the screen to explore the scene. Stereoscopic videos are made for virtual reality headsets. They provide an immersive travel experience and also feature gesture tracking.
At the same time, virtual reality photographs are 360-view images. Big hotel chains such as Marriot, Hilton, and travel agencies use this technology to attract customers. The features of virtual reality help to drive the tourism virtual reality headset market.
2018 to 2022 Global Tourists Virtual Reality Headsets Outlook Compared to 2023 to 2033 Forecast
From 2018 to 2022, the market witnessed a surge in the adoption of virtual reality headsets among tourists, driven by increasing awareness, improving affordability, and advancements in virtual reality technology. Tourists have embraced virtual reality’s immersive and interactive nature, which allows them to virtually explore destinations, historical sites, and cultural experiences, offering a new dimension to their travel adventures.
The global tourist virtual reality headsets market is projected to experience continued growth. The market is expected to benefit from ongoing advancements in virtual reality technology, making headsets more advanced, compact, and user-friendly. Additionally, the growing popularity of virtual reality content specific to tourism, including virtual tours, travel documentaries, and interactive experiences, is expected to drive the demand for virtual reality headsets among tourists.
The forecast period also presents opportunities for market expansion through partnerships between virtual reality headset manufacturers and travel companies. By integrating virtual reality experiences into their offerings, travel companies can provide unique and immersive experiences to their customers, further fuelling the demand for virtual reality headsets among tourists.
Virtual Reality Global Reach to Increase the Demand for Global Tourists Virtual Reality Headsets Market
With virtual reality’s help, travellers can view and experience difficult or impossible adventures. The travellers get an opportunity to experience places that are unknown or difficult to reach for a traveller. For example, a person who cannot swim can experience underwater aquatic life or a city tour from a sky view or sky diving.
It is affordable and allows budget-friendly travellers to explore exotic places at home. Also, with the help of devices, a traveller can view and view and experience many places multiple times. Lastly, it also benefits old and handicapped people to share their dreams of travelling. Hence as virtual reality in tourism can serve various types of travellers, it generates demand for virtual reality devices in the tourism industry.
Convenient Use of Virtual Reality Devices to Generate Market Opportunity for Global Tourist Virtual Reality Headsets Market
Virtual reality headsets allow users to sit in one place and enjoy the destination or activity with the help of technology. Stereo sound, old display, adjustments, and built quality enhance the features of the user. The feasibility of the use of virtual reality devices and rising trends for virtual tours generate the demand for virtual reality headsets.
Virtual tours are not effective as physical tours, but they are made with more details and can be enjoyed repeatedly by a user. Virtual tours also help to give a detailed overview of tours on the website.
The 360-view photographs and videos make the website interactive and easy to navigate on the device screen. The ease of use and interactive touch generate market opportunities for the tourist virtual reality headsets market.
Virtual Tours are driving the Tourist Virtual Reality Headsets Market in India, showcasing a 6.2% CAGR.
India has different cultures, monuments, centuries-old forts, and museums to discover. People from various parts of the world visit India to study and explore all these places. Every year millions of travellers travel to India. But due to the pandemic effect and lack of affordability, many people are not able to travel to India. Hence the virtual tours on virtual reality headsets help travellers to explore India while sitting back at home.
Various places such as the Taj Mahal, National Museum, Indian Museum, Fatehpur Sikri, Bikaner tour, and leading cities tours are available in virtual reality compatible format. There are various hotels, such as Trident, Marriot, Taj, and other leading brands, that use virtual reality headsets to offer virtual tours of hotels and destinations. Several tour agencies in India offer a pre-tour experience to their customers with the help of virtual reality.
The increasing use of virtual reality technology by leading players is creating a trend in India. Hence, virtual tours in India are driving the market of tourist virtual reality headsets in India.
Which Age Group Generate Virtual Reality Headsets Demand in Global Tourists Virtual Reality Headsets Market?
Every age group generates demand for virtual reality headsets in the global tourist’s virtual reality headsets market. According to the analysis, all age groups generate demand for virtual reality headsets. A person from any age group gets an opportunity to experience any travel place or any adventure activities with the help of virtual headsets. The adventure and virtual tours depend on consumer perception, but virtual headsets are compatible with all age groups.
Which Product Material Has More Demand in the Tourist in Tourist Virtual Reality Headsets Market?
Fiber virtual reality headsets may have more demand in the tourist virtual reality headsets market, acquiring a value share of 28.0%. In terms of product material, there may be a high demand for fiber virtual reality headsets.
The main reason for the increase in demand for fiber headsets is they are lightweight and packed with various sensors. The fiber virtual headsets are more durable, allowing users to move their faces and body freely without any weight burden. Nowadays, multiple companies make virtual reality headsets from recycled plastic and other fibers. This generates more demand for fiber virtual reality headsets.
Tourists Virtual Reality Headsets Market is More Preferred by The Travel Agencies and Hotels
Segment to Capture 25.0% Value Share in 2022
In terms of end-use outlook, the tourist virtual reality headsets market is preferred by travel agencies and hotels. Virtual reality offers a feature to try before you buy, which means a traveler gets an opportunity to experience the tour with the help of virtual software. Travel agencies and hotels make use of this software to brief the experience of the services that they are offering to travellers.