The global virtual tour market size is expected to reach USD 1,052 million by 2030, according to a new study by Polaris Market Research. The report “Virtual Tour Market Share, Size, Trends, Industry Analysis Report, By Product Type (Cloud-based, Web-based); By Device Type; By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
The use of virtual reality in different industrial procedures has grown in popularity as technology has advanced. Virtual tour software that helps destination-based branding is one of the emerging applications of augmented worlds. Through the virtual solution, the marketing strategy is anticipated to improve client experience and increase interaction sessions. VR will also make it easier for prospective purchasers to imagine themselves residing there. Immersive VR tools, such as pricing models, can persuade a potential buyer to make a purchase.
Haptic technology (VR touch) will also be used to recreate the sensation of touch in virtual reality. The touch of the surfaces and furnishings will be felt by the prospective buyer. Virtual reality professionals are dedicated to developing the most realistic experience feasible to make digital versions nearly equal to physical ones. The key is a significant drop in consumer fees as well as significant organizational adjustments for all agents and brokers.
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Tourism contributed a substantial market share in 2022 of the market and is expected to retain its leading position during the forecast period. This is due to the availability of immersive virtual reality (VR) experiences and the utilization of various input and output devices to create a captivating world for consumers. The artwork and exhibition section, on the other hand, is predicted to grow at the fastest rate in the future. This is owing to the availability of digital tours, presentations, and exhibitions, which allow individuals to immerse themselves in their work irrespective of geographic or resource constraints.
Virtual Tour Market Report Highlights
- North America is the dominating region in the global market with more than XX% share, in 2021. The region’s dominance is attributed to factors such as the presence of well-established players and advancements in virtual reality.
- By product type, cloud-based product types are more popular owing to easy data navigation and less time consumption to alter the data and upload on the web.
- By end-user, the residential sector led the market since the customers are more open to checking the residential property virtually to save time rather than wasting expenses on visiting the actual property.
- Global market includes Matterport, RTV, Inc., Concept3D, Inc., Klapty, 3DVista Stitcher, Roundme Limited, and CloudPano.
Polaris Market Research has segmented the Virtual Tour market report based on Product Type, Device Type, Application, and region:
Virtual Tour, Product Type Outlook (Revenue – USD Million, 2018 – 2030)
- Web Based
- Cloud Based
Virtual Tour, Device Type Outlook (Revenue – USD Million, 2018 – 2030)
- Head Mounted
- Gesture Tracking
Virtual Tour, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Real Estate Professionals
- Tourism Industries
- Marketing Professionals
Virtual Tour, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa