Virtual tour software provides businesses with an immersive, realistic experience that can be used to showcase products and services. This type of software can be used to create virtual tours of homes, businesses, tourist destinations, and more. Virtual tour software is a great way to give potential customers a feel for what your business has to offer without them having to physically visit your location.
The global virtual tour software market size was valued at USD 304.7 million in 2021 and is projected to grow from USD 345.5 million in 2022 to USD 854.3 million by 2029, exhibiting a CAGR of 13.9% during the forecast period.
Virtual tour software tools can be used to view properties, cars, tourist areas, and more. Virtual tours software can be used to create 360-degree views of the location using audio, video clips and 3D maps. This software can provide 360-degree panoramic photographs of the area, places, and their components. There is a growing demand for virtual tourism through smartphones, and the market share for virtual tours software across the real-estate sector has increased. Market revenue has increased globally due to a rise in the use virtual tour solutions by customers across the real estate and automotive, education, as well as tourism sectors. This software tool is being developed by many major players to promote products and view real estate properties.
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FACTORS FOR DRIVING
To aid market growth, there are increasing technological advances and rising virtual reality tools
The application of virtual reality has been made possible by technological advancements. Virtual reality software, which supports destination-based marketing, is one of the most popular applications. This software is being adopted by multiple industries such as education and automotive as well as security, manufacturing, tourism, security, hospitality, and real estate as a new marketing strategy to increase customer engagement. This marketing strategy will improve customer experience and increase interactive sessions.
Market growth is impeded by a lack of information and awareness among customers about virtual tour software and services
All potential customers can access the software to view and access the information. End-users such as education institutions, real estate, tourism and hospitality can only show limited data to customers. Customers may have limited access to data from the surrounding areas. The tour providers may not be able to show the areas they do not wish to. This could have a negative impact on market growth.
Table: Years considered for the study:
|Short Term Projection Year
|Long Term Projected Year
List of the Key Companies Profiled:
RTV, Inc. (U.S.)
Concept3D, Inc. (U.S.)
Kuula LLC (U.S.)
Matterport, Inc. (U.S.)
3DVista Stitcher (Spain)
Roundme Limited (U.S.)
KEY INDUSTRY DEVELOPMENTS
June 2022: Concept3D, Inc. announced a partnership with Pathify, an engagement hub for higher education, to offer virtual campus tours through mapping.
April 2022: Washington-based Mass Interact joined hands with Full Measure Education in order to offer campus tours. The partnership will increase students’ enrollment and retention, improve searchability, provide a customized virtual experience and other benefits.
March 2022: Concept3D, Inc. announced an alliance with PlatformQ Education, a company that develops software, to integrate Concept3D’s and PlatformQ’s solution capabilities. The partnership is expected to increase virtual touring as well as enhance the virtual experience.
July 2021: Kuula LLC announced a partnership with Angola’s real estate firm AngoCasa. This partnership will allow Kuula LLC to incorporate virtual tours in its properties.
May 2021 – EyeSpy360 announced a partnership with Chime, a real estate sales and market developer. This collaboration will provide its virtual tour content. The company integrated its software with Chime’s website management tool that offers virtual walk-ins and live tours.
By Deployment Analysis
By End-user Analysis
Tourism & Hospitality
Automotive and Others
Regional Segment Analysis
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and the Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)
Frequently Asked Questions (FAQ):