A recent research report on Global Real Estate Virtual Tour Software Market Insights, to 2030 has been released by Advance Market Analytics. The study highlights emerging trends, key drivers, restraints, and opportunities, providing a valuable resource for market stakeholders. Increased R&D spending worldwide has been a primary catalyst for the Real Estate Virtual Tour Software market’s expansion.
Beyond with Virtual Tour Software
Virtual tour software tools have become essential for viewing properties, automotive showcases, and tourist attractions. Utilizing images, audio, video clips, and 3D maps, these tools create immersive 360-degree views, catering to the growing demand for smartphone-based virtual tourism. This trend has significantly boosted the market, especially within the real estate sector.
Market Growth and Projections
Valued at $340.7 million in 2022, the virtual tour software market is projected to grow from $384.0 million in 2023 to $941.3 million by 2030, exhibiting a strong CAGR of 13.7%. North America led the market, holding a 41.74% share in 2022.
Pandemic-Induced Technological Shift
The COVID-19 pandemic accelerated the adoption of advanced technologies like virtual reality and virtual tour software for product promotion. During this period, real estate owners leveraged digital virtual reality 360-degree platforms to market their properties. This strategic shift has continued post-pandemic, sustaining market growth.
Innovations and Industry Applications
Leading companies are developing customized virtual reality platforms for various industries such as real estate, tourism, automotive, and hospitality. For instance, Tourism of Australia launched a virtual travel service in April 2022 for Indian travelers, showcasing holiday packages through immersive virtual tours. This initiative supported the aviation industry’s recovery and promoted Australian tourism.
Key Market Players
The study profiles major market players, including Paradym (United States), 3Discrete (United States), Immoviewer (United States), TourVista (United States), TourWizard (United Kingdom), VirtualTourCafe, LLC (United States), Cupix (South Korea), EyeSpy360 (United States), GeoCV (United States), and Planitar (Canada). These companies lead the market with innovative solutions and advanced technologies.
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