IMARC Group, a leading market research company, has recently releases report titled “Virtual Tour Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global virtual tour software market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the virtual tour software market?
The global virtual tour software market size reached US$ 343 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 821 Million by 2028, exhibiting a growth rate (CAGR) of 15.2% during 2023-2028.
What is Virtual Tour Software?
Virtual Tour Software represents a transformative and innovative technology that has revolutionized the way individuals and businesses showcase physical spaces and environments in a digital format. It allows users to create immersive and interactive virtual tours that provide a dynamic and realistic experience of real-world locations, properties, museums, galleries, and more. This technology leverages a combination of 360-degree images, videos, audio, and interactive elements to enable viewers to explore and navigate through spaces as if they were physically present. The core concept of virtual tour software is to offer a compelling alternative to physical visits, providing users with a rich and engaging way to experience places remotely. It is widely used across diverse industries, including real estate, hospitality, tourism, education, art and culture, and commercial spaces. By creating virtual tours, businesses and organizations can showcase their properties, products, or venues to a global audience, transcending geographical limitations and enhancing engagement. Virtual tour software typically consists of user-friendly tools and platforms that facilitate the creation, customization, and sharing of virtual tours. These tools often include features for adding annotations, hotspots, multimedia content, and guided navigation, allowing creators to tailor the virtual tour experience to their specific objectives and target audience. Virtual tours can be accessed on various devices, including computers, smartphones, tablets, and virtual reality (VR) headsets, further enhancing their accessibility and reach.
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What are the growth prospects and trends in the virtual tour software industry?
The global virtual tour software market is experiencing robust growth, propelled by several key factors that highlight the technology’s adaptability and value across industries. The COVID-19 pandemic accelerated the adoption of virtual tour software as businesses and organizations sought alternatives to physical visits and gatherings. Virtual tours provided a safe and convenient means to continue engaging with audiences during lockdowns and travel restrictions. The real estate industry relies heavily on virtual tour software to showcase properties to prospective buyers and renters. Virtual tours allow viewers to explore homes, apartments, and commercial spaces remotely, saving time and resources for both buyers and sellers. Moreover, tourism boards, hotels, and travel agencies utilize virtual tours to promote destinations and accommodations. Virtual tours offer travelers a preview of attractions, hotels, and experiences, helping them make informed decisions and plan their trips. Virtual tour software is increasingly used in education and training, enabling virtual field trips, campus tours, and immersive learning experiences. Educational institutions and organizations use virtual tours to engage students and trainees. In addition to this, museums, galleries, and cultural institutions create virtual tours of their exhibits, allowing art enthusiasts and history buffs to explore collections from anywhere in the world. Businesses in the commercial real estate sector use virtual tours to market office spaces and event venues. These tours help clients visualize the potential of a space for their specific needs. Virtual tours offer an interactive and engaging platform for advertising and marketing campaigns. Brands use this technology to showcase products and services in a captivating manner, which is contributing to the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Deployment:
Breakup by End User:
- Real Estate
- Tourism and Hospitality
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 3DVista Stitcher
- Concept3D Inc.
- Easypano Holdings Inc.
- iStaging Corp.
- Kuula LLC
- Matterport Inc.
- RTV Inc.
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