According to a new report published by Allied Market Research, 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 report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
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.
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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.
The key market players profiled in the report include:
• Pan 3sixty
• Mi 360
• 360 Pano Vr Solutions Pvt. Ltd
• 360 Imagery
• Exsight 360
• Blueravenstudios
• Invision Studio Inc
• Starts360
• Tourvista
• Eye Revolution Ltd.
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