The global virtual tour market was valued at $0.96 billion in 2023, and is projected to reach $17.88 billion by 2035, registering a CAGR of 27.9% from 2024 to 2035.
The adoption of virtual tours in the real estate and property industries has led to a significant surge in market demand for virtual tour services. Virtual tours have changed the way properties are marketed and viewed by offering immersive and interactive experiences to potential buyers and renters. These virtual tours allow individuals to explore properties remotely, providing a comprehensive understanding of the layout, design, and features without the need for physical visits. This convenience is particularly appealing in today's fast-paced world, where time constraints and geographic limitations can hinder traditional property viewings.Moreover, virtual tours in real estate offer numerous benefits to both buyers and sellers. For buyers, virtual tours enable them to narrow down their options and shortlist properties more efficiently, saving time and effort. On the other hand, sellers benefit from increased visibility and engagement, as virtual tours attract a broader audience of prospective buyers, including those who may be relocating from other cities or countries. The immersive nature of virtual tours also helps to create emotional connections with properties, increasing the likelihood of inquiries and offers. As a result, the integration of virtual tours within the real estate and property sectors continues to fuel the expansion of the virtual tour market, with sustained demand anticipated in the coming years.However, the potential for motion sickness or discomfort among users in VR experiences acts as a significant restraint to the widespread adoption of virtual tours. Symptoms such as nausea and disorientation are expected to discourage users, especially those prone to motion sickness, from engaging with VR content. As a result, such limitation reduces the market demand for virtual tours across various sectors, including real estate, tourism, and education. Moreover, addressing motion sickness requires careful design considerations and optimization of virtual environments, which may increase development costs and complexity for the market operators. Thus, the persistent risk of motion-related discomfort restricts the market growth and hampers the broader adoption of VR technology for immersive tour experiences.Furthermore, promoting eco-tourism through virtual nature tours presents a significant opportunity for the virtual tour market. By offering immersive experiences of natural environments, virtual tours can raise awareness about conservation efforts and fragile ecosystems. These virtual tours provide an accessible and sustainable alternative to traditional tourism, reducing carbon footprints and minimizing environmental impact. In addition, virtual tours allow individuals with physical limitations or mobility challenges to experience the beauty of nature from the comfort of their homes. Leveraging VR technology, eco-tourism initiatives can reach a global audience, inspiring people to appreciate and protect the natural world for future generations.The virtual tours market is segmented into type, application, and region. On the basis of type, the market is categorized into 360 virtual tour, 3D virtual tour, and virtual reality tour. By application, it is segregated into tourism, real estate, art gallery & museums, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Malaysia, and rest of Asia-Pacific), Latin America (Brazil, Argentina, Colombia, and rest of Latin America), and Middle East and Africa (GCC, South Africa, and rest of Middle East and Africa).The major players operating in the global virtual tours market are Pan 3Sixty, MI 360, 360 Pano VR Solutions Private Limited, 360 Imagery, Exsight 360, Blue Raven Studios, Invision Studio, Inc., Starts360, TourVista, and Eye Revolution Ltd.
The adoption of virtual tours in the real estate and property industries has led to a significant surge in market demand for virtual tour services. Virtual tours have changed the way properties are marketed and viewed by offering immersive and interactive experiences to potential buyers and renters. These virtual tours allow individuals to explore properties remotely, providing a comprehensive understanding of the layout, design, and features without the need for physical visits. This convenience is particularly appealing in today's fast-paced world, where time constraints and geographic limitations can hinder traditional property viewings.Moreover, virtual tours in real estate offer numerous benefits to both buyers and sellers. For buyers, virtual tours enable them to narrow down their options and shortlist properties more efficiently, saving time and effort. On the other hand, sellers benefit from increased visibility and engagement, as virtual tours attract a broader audience of prospective buyers, including those who may be relocating from other cities or countries. The immersive nature of virtual tours also helps to create emotional connections with properties, increasing the likelihood of inquiries and offers. As a result, the integration of virtual tours within the real estate and property sectors continues to fuel the expansion of the virtual tour market, with sustained demand anticipated in the coming years.However, the potential for motion sickness or discomfort among users in VR experiences acts as a significant restraint to the widespread adoption of virtual tours. Symptoms such as nausea and disorientation are expected to discourage users, especially those prone to motion sickness, from engaging with VR content. As a result, such limitation reduces the market demand for virtual tours across various sectors, including real estate, tourism, and education. Moreover, addressing motion sickness requires careful design considerations and optimization of virtual environments, which may increase development costs and complexity for the market operators. Thus, the persistent risk of motion-related discomfort restricts the market growth and hampers the broader adoption of VR technology for immersive tour experiences.Furthermore, promoting eco-tourism through virtual nature tours presents a significant opportunity for the virtual tour market. By offering immersive experiences of natural environments, virtual tours can raise awareness about conservation efforts and fragile ecosystems. These virtual tours provide an accessible and sustainable alternative to traditional tourism, reducing carbon footprints and minimizing environmental impact. In addition, virtual tours allow individuals with physical limitations or mobility challenges to experience the beauty of nature from the comfort of their homes. Leveraging VR technology, eco-tourism initiatives can reach a global audience, inspiring people to appreciate and protect the natural world for future generations.The virtual tours market is segmented into type, application, and region. On the basis of type, the market is categorized into 360 virtual tour, 3D virtual tour, and virtual reality tour. By application, it is segregated into tourism, real estate, art gallery & museums, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Malaysia, and rest of Asia-Pacific), Latin America (Brazil, Argentina, Colombia, and rest of Latin America), and Middle East and Africa (GCC, South Africa, and rest of Middle East and Africa).The major players operating in the global virtual tours market are Pan 3Sixty, MI 360, 360 Pano VR Solutions Private Limited, 360 Imagery, Exsight 360, Blue Raven Studios, Invision Studio, Inc., Starts360, TourVista, and Eye Revolution Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the virtual tour market analysis from 2023 to 2035 to identify the prevailing virtual tour market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the virtual tour market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global virtual tour market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- 360 Virtual Tour
- 3D Virtual Tour
- Virtual Reality Tour
By Application
- Tourism
- Real Estate
- Art gallery and museum
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- Middle East and Africa
- Gcc
- South Africa
- Rest of Middle East And Africa
- Pan 3Sixty
- MI 360
- 360 Pan
- VR Solutions Private Limited
- 360 Imagery
- Exsight 360
- Blue Raven Studios
- Invision Studio, Inc
- Starts360
- TourVista
- Eye Revolution Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VIRTUAL TOUR MARKET, BY TYPE
CHAPTER 5: VIRTUAL TOUR MARKET, BY APPLICATION
CHAPTER 6: VIRTUAL TOUR MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report titled, 'Virtual Tour Market,' the virtual tour market was valued at $448.10 million in 2020, and is estimated to reach $6.5 billion by 2030, growing at a CAGR of 31% from 2021 to 2030.The global Virtual Tour Market Size was valued at $448.1 million in 2020, and is projected to reach $6,537.1 million by 2030, registering a CAGR of 31.0% from 2021 to 2030. The 3D virtual tour segment was the highest revenue contributor to the market, and is estimated to reach $2,810.2 million by 2030, with a CAGR of 30.4%.
Growth of the real estate and tourism industry and increase in internet connectivity act as the Virtual Tour Market Trends of the global Virtual Tour Industry. In addition, increase in use of consumer electronic devices is expected to fuel the virtual tour market growth. However, lack of effective user experience design and slow adoption of virtual reality solutions among underdeveloped economies are the major factors that impede the market growth. Conversely, technological advancements and rise in application areas among various industry verticals are expected to provide lucrative Virtual Tour Market Demandfor the market growth.
In 2020, on the basis of type, 3D Virtual Tour held the major virtual tour market share, and is expected to maintain its dominance in the upcoming years. This is due to rise in applications of virtual reality solutions in construction, tourism industry, healthcare, education, and real estate industries. However, the virtual reality tour segment is expected to witness highest growth, due to AR & VR technology benefits such as reduced field staff training costs, faster repairs, and greater customer satisfaction.
By Application, tourism segment held the major share of 35.6% in the global virtual tour market. Virtual reality technologically involves the use of VR headset, which helps to immerse a user in digital environment.
North America region held the major share in the virtual tour market. This is attributed to the increase in technological advancements in real estate and tourism sector, growth in penetration of gaming industry and remarkable growth in e-learning market.
Major players operating in the global virtual tour market are Pan 3sixty, Mi 360, 360 Pano Vr Solutions Pvt. Ltd, 360 Imagery, Exsight 360, Blueravenstudios, Invision Studio Inc, Starts360, Tourvista, and Eye Revolution Ltd.
Companies Mentioned
Key Market Players in the Virtual Tour Market include:- Pan 3Sixty
- MI 360
- 360 Pano VR Solutions Private Limited
- 360 Imagery
- Exsight 360
- Blue Raven Studios
- Invision Studio Inc
- Starts360
- TourVista
- Eye Revolution Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 258 |
| Published | April 2024 |
| Forecast Period | 2023 - 2035 |
| Estimated Market Value ( USD | $ 0.96 billion |
| Forecasted Market Value ( USD | $ 17.88 billion |
| Compound Annual Growth Rate | 27.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
