Virtual Tour Software Market
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PUBLISHED: 2022 ID: SMRC22039
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Virtual Tour Software Market Forecasts to 2028 - Global Analysis By Device Type (Head Mounted, and Gesture Tracking), Deployment (Cloud and On-Premises), End User (Automotive, Real Estate and Other End Users) and By Geography

4.8 (100 reviews)
4.8 (100 reviews)
Published: 2022 ID: SMRC22039

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $354.83 MN

Projected Year Value (2028)

US $1070.15 MN

CAGR (2022 - 2028)

20.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Virtual Tour Software Market is accounted for $354.83 million in 2022 and is expected to reach $1070.15 million by 2028 growing at a CAGR of 20.2% during the forecast period. Travel agencies and tour operators are used by the virtual tour software to create virtual visualisations of tourist sites. Tourism businesses use virtual visualisations to accurately depict traveller locations to customers. Internet content managers that like merging virtual tours on websites or online portals utilise this software with the help of sales and advertising groups for promotional purposes. Businesses can save money by using virtual tour software instead of engaging professional videographers to make digital tours.

According to the National Association of Realtors in the U.S., virtual tours have received more than 87% more views than those without 360 virtual tours. In addition, more than 50% of buyers would not prefer to visit the website to shortlist the property if they don't provide a 360 virtual tour.



Market Dynamics:

Driver:

Increasing Technological Advancements

Virtual reality offers a wider range of industrial applications because to technological advancement. The software that supports destination-based marketing is one of the expanding uses of virtual reality. This software is being widely adopted by numerous industries as a new marketing tactic to improve consumer interaction, including education, automotive, manufacturing, security, real estate, tourism, and hospitality. Through the virtual solution and increased interactive sessions, the marketing approach is anticipated to enhance consumer experience.

Restraint:

Lack of awareness and information to Customers

All potential clients can browse and access the information thanks to the programme. Customers can only see a restricted amount of data from end users including educational institutions, real estate, tourism, and hospitality. Customers may only have limited access to the nearby locations' data. Tour operators might not be able to offer or limit the regions they might not wish to highlight. This is anticipated to have a detrimental effect on market expansion.

Opportunity:

Rising adoption of AI-assisted Chabot virtual tours

Virtual tours based on AI and cloud computing are being adopted by a number of businesses in a number of sectors, including automotive, real estate, education, and healthcare. For the purpose of providing product promotions, major market companies are utilising methods like mergers, acquisitions, and partnerships to adopt cutting-edge technology like A.I., cloud computing, and analytics tools.

Threat:

High interaction costs

Many agents only employ digital tours on their ultra-luxury offerings due to the hefty price tags. A digital tour can only be created by agents for the most expensive properties. Due to this, not everyone can benefit from digital tour promotion. For generating digital tours, several virtual tour firms demand astronomically high prices. Virtual tours created by businesses cost a lot of money.

Covid-19 Impact

In order to stop the coronavirus from spreading during the COVID-19 pandemic, a number of manufacturing facilities and building projects have been put on hold. Consumers and businesses have been compelled by this pandemic to adopt cutting-edge technologies like virtual reality and software for virtual product tours. Additionally, numerous real estate owners were advertising their apartments and homes on a virtual reality 360-degree platform during the pandemic.

The cloud segment is expected to be the largest during the forecast period

The cloud segment is estimated to have a lucrative growth, due to the accessibility of cloud-based tour software from anywhere in the world, the increase is mostly attributable to the increasing acceptance of advanced technology-enabled tour software in the real estate, educational institutions, tourist, and hospitality industries. A cloud-based platform for virtual tours of historical sites, hotels, and real estate properties is being developed by a number of the industry's top companies. Additionally, growing enterprise cloud spending has accelerated the adoption of cloud-based virtual tour software.

The real estate segment is expected to have the highest CAGR during the forecast period

The real estate segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growing desire from home buyers to list residential properties online via virtual tours, it is anticipated to expand at a notable CAGR throughout the projection period. Before contacting an agent or visiting any residential homes, the majority of home buyers conduct their research online, according to Matter port.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period. It is anticipated to continue to dominate the virtual tour business, accounting for more than two-fifths of the global market. This is because more companies are investing in virtual tours thanks to the growth of the IoT (Internet of Things) and the planning of events like product launches and shows, among other things. However, LAMEA is anticipated to experience the quickest CAGR over the forecast period due to an increase in advertising and marketing investments from major companies and a rise in demand for online events.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, making it the mind-boggling nation in the market for virtual tour software. The enhancement would be made possible by marketing analysis tools and by current players who have genuinely grown used to the market over time. Despite this, business associations, outcast leaders, etc. are focusing their efforts on producing customer-driven products that will further contribute to the development in this field. The market for virtual tour software is likely to experience fundamental growth as a result of increasing revenue, increased compensation, pattern-setting advancement, and invention, along with initiatives to promote awareness of the demand.



Key players in the market

Some of the key players profiled in the Virtual Tour Software Market include Concept3D, Inc., Klapty, Kuula LLC, CloudPano, RTV, Inc., Matter-port, Inc., Eyespy360, 3DVista Stitcher, Roundme Limited, Matterport, Kolor, SeekBeak and Real Tour Vision

Key Developments:

In June 2022, Concept3D, Inc. announced a partnership with a higher education engagement hub, Pathify, to offer campus tours through virtual mapping.

April 2022, Washington-based Mass Interact teamed up with Full Measure Education, to offer virtual tour solution to enhance campus visits. The partnership aims to improve students’ enrolment and retention, increasing search ability, tailored virtual experience, and more.

In March 2022, Concept3D, Inc. announced a strategic collaboration with PlatformQ Education, a software development company, to integrate Concept3D and PlatformQ solution capabilities. The partnership is expected to expand virtual touring along with enhancing virtual experience.

In July 2021, Kuula LLC announced a partnership with Angola-based real estate, AngoCasa, to incorporate virtual tours into its properties.

In May 2021, EyeSpy360 announced collaboration with real estate sales and marketing developer, Chime, to provide its virtual tour content. The company integrated its software with website management tool of Chime that offers live tours and virtual walk-in.

Device Types Covered:
• Head Mounted
• Gesture Tracking

Deployments Covered:
• Cloud
• On-Premises

End Users Covered:
• Automotive
• Real Estate
• Tourism & Hospitality
• Education
• Healthcare
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Virtual Tour Software Market, By Device Type
5.1 Introduction
5.2 Head Mounted
5.3 Gesture Tracking

6 Global Virtual Tour Software Market, By Deployment
6.1 Introduction
6.2 Cloud
6.3 On-Premises

7 Global Virtual Tour Software Market, By End User
7.1 Introduction
7.2 Automotive
7.3 Real Estate
7.4 Tourism & Hospitality
7.5 Education
7.6 Healthcare
7.7 Other End Users

8 Global Virtual Tour Software Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 Concept3D, Inc.
10.2 Klapty
10.3 Kuula LLC
10.4 CloudPano
10.5 RTV, Inc.
10.6 Matterport, Inc.
10.7 Eyespy360
10.8 3DVista Stitcher
10.9 Roundme Limited
10.10 Matterport
10.11 Kolor
10.12 SeekBeak
10.13 Real Tour Vision

List of Tables
1 Global Virtual Tour Software Market Outlook, By Region (2020-2028) ($MN)
2 Global Virtual Tour Software Market Outlook, By Device Type (2020-2028) ($MN)
3 Global Virtual Tour Software Market Outlook, By Head Mounted (2020-2028) ($MN)
4 Global Virtual Tour Software Market Outlook, By Gesture Tracking (2020-2028) ($MN)
5 Global Virtual Tour Software Market Outlook, By Deployment (2020-2028) ($MN)
6 Global Virtual Tour Software Market Outlook, By Cloud (2020-2028) ($MN)
7 Global Virtual Tour Software Market Outlook, By On-Premises (2020-2028) ($MN)
8 Global Virtual Tour Software Market Outlook, By End User (2020-2028) ($MN)
9 Global Virtual Tour Software Market Outlook, By Automotive (2020-2028) ($MN)
10 Global Virtual Tour Software Market Outlook, By Real Estate (2020-2028) ($MN)
11 Global Virtual Tour Software Market Outlook, By Tourism & Hospitality (2020-2028) ($MN)
12 Global Virtual Tour Software Market Outlook, By Education (2020-2028) ($MN)
13 Global Virtual Tour Software Market Outlook, By Healthcare (2020-2028) ($MN)
14 Global Virtual Tour Software Market Outlook, By Other End Users (2020-2028) ($MN)
15 North America Virtual Tour Software Market Outlook, By Country (2020-2028) ($MN)
16 North America Virtual Tour Software Market Outlook, By Device Type (2020-2028) ($MN)
17 North America Virtual Tour Software Market Outlook, By Head Mounted (2020-2028) ($MN)
18 North America Virtual Tour Software Market Outlook, By Gesture Tracking (2020-2028) ($MN)
19 North America Virtual Tour Software Market Outlook, By Deployment (2020-2028) ($MN)
20 North America Virtual Tour Software Market Outlook, By Cloud (2020-2028) ($MN)
21 North America Virtual Tour Software Market Outlook, By On-Premises (2020-2028) ($MN)
22 North America Virtual Tour Software Market Outlook, By End User (2020-2028) ($MN)
23 North America Virtual Tour Software Market Outlook, By Automotive (2020-2028) ($MN)
24 North America Virtual Tour Software Market Outlook, By Real Estate (2020-2028) ($MN)
25 North America Virtual Tour Software Market Outlook, By Tourism & Hospitality (2020-2028) ($MN)
26 North America Virtual Tour Software Market Outlook, By Education (2020-2028) ($MN)
27 North America Virtual Tour Software Market Outlook, By Healthcare (2020-2028) ($MN)
28 North America Virtual Tour Software Market Outlook, By Other End Users (2020-2028) ($MN)
29 Europe Virtual Tour Software Market Outlook, By Country (2020-2028) ($MN)
30 Europe Virtual Tour Software Market Outlook, By Device Type (2020-2028) ($MN)
31 Europe Virtual Tour Software Market Outlook, By Head Mounted (2020-2028) ($MN)
32 Europe Virtual Tour Software Market Outlook, By Gesture Tracking (2020-2028) ($MN)
33 Europe Virtual Tour Software Market Outlook, By Deployment (2020-2028) ($MN)
34 Europe Virtual Tour Software Market Outlook, By Cloud (2020-2028) ($MN)
35 Europe Virtual Tour Software Market Outlook, By On-Premises (2020-2028) ($MN)
36 Europe Virtual Tour Software Market Outlook, By End User (2020-2028) ($MN)
37 Europe Virtual Tour Software Market Outlook, By Automotive (2020-2028) ($MN)
38 Europe Virtual Tour Software Market Outlook, By Real Estate (2020-2028) ($MN)
39 Europe Virtual Tour Software Market Outlook, By Tourism & Hospitality (2020-2028) ($MN)
40 Europe Virtual Tour Software Market Outlook, By Education (2020-2028) ($MN)
41 Europe Virtual Tour Software Market Outlook, By Healthcare (2020-2028) ($MN)
42 Europe Virtual Tour Software Market Outlook, By Other End Users (2020-2028) ($MN)
43 Asia Pacific Virtual Tour Software Market Outlook, By Country (2020-2028) ($MN)
44 Asia Pacific Virtual Tour Software Market Outlook, By Device Type (2020-2028) ($MN)
45 Asia Pacific Virtual Tour Software Market Outlook, By Head Mounted (2020-2028) ($MN)
46 Asia Pacific Virtual Tour Software Market Outlook, By Gesture Tracking (2020-2028) ($MN)
47 Asia Pacific Virtual Tour Software Market Outlook, By Deployment (2020-2028) ($MN)
48 Asia Pacific Virtual Tour Software Market Outlook, By Cloud (2020-2028) ($MN)
49 Asia Pacific Virtual Tour Software Market Outlook, By On-Premises (2020-2028) ($MN)
50 Asia Pacific Virtual Tour Software Market Outlook, By End User (2020-2028) ($MN)
51 Asia Pacific Virtual Tour Software Market Outlook, By Automotive (2020-2028) ($MN)
52 Asia Pacific Virtual Tour Software Market Outlook, By Real Estate (2020-2028) ($MN)
53 Asia Pacific Virtual Tour Software Market Outlook, By Tourism & Hospitality (2020-2028) ($MN)
54 Asia Pacific Virtual Tour Software Market Outlook, By Education (2020-2028) ($MN)
55 Asia Pacific Virtual Tour Software Market Outlook, By Healthcare (2020-2028) ($MN)
56 Asia Pacific Virtual Tour Software Market Outlook, By Other End Users (2020-2028) ($MN)
57 South America Virtual Tour Software Market Outlook, By Country (2020-2028) ($MN)
58 South America Virtual Tour Software Market Outlook, By Device Type (2020-2028) ($MN)
59 South America Virtual Tour Software Market Outlook, By Head Mounted (2020-2028) ($MN)
60 South America Virtual Tour Software Market Outlook, By Gesture Tracking (2020-2028) ($MN)
61 South America Virtual Tour Software Market Outlook, By Deployment (2020-2028) ($MN)
62 South America Virtual Tour Software Market Outlook, By Cloud (2020-2028) ($MN)
63 South America Virtual Tour Software Market Outlook, By On-Premises (2020-2028) ($MN)
64 South America Virtual Tour Software Market Outlook, By End User (2020-2028) ($MN)
65 South America Virtual Tour Software Market Outlook, By Automotive (2020-2028) ($MN)
66 South America Virtual Tour Software Market Outlook, By Real Estate (2020-2028) ($MN)
67 South America Virtual Tour Software Market Outlook, By Tourism & Hospitality (2020-2028) ($MN)
68 South America Virtual Tour Software Market Outlook, By Education (2020-2028) ($MN)
69 South America Virtual Tour Software Market Outlook, By Healthcare (2020-2028) ($MN)
70 South America Virtual Tour Software Market Outlook, By Other End Users (2020-2028) ($MN)
71 Middle East & Africa Virtual Tour Software Market Outlook, By Country (2020-2028) ($MN)
72 Middle East & Africa Virtual Tour Software Market Outlook, By Device Type (2020-2028) ($MN)
73 Middle East & Africa Virtual Tour Software Market Outlook, By Head Mounted (2020-2028) ($MN)
74 Middle East & Africa Virtual Tour Software Market Outlook, By Gesture Tracking (2020-2028) ($MN)
75 Middle East & Africa Virtual Tour Software Market Outlook, By Deployment (2020-2028) ($MN)
76 Middle East & Africa Virtual Tour Software Market Outlook, By Cloud (2020-2028) ($MN)
77 Middle East & Africa Virtual Tour Software Market Outlook, By On-Premises (2020-2028) ($MN)
78 Middle East & Africa Virtual Tour Software Market Outlook, By End User (2020-2028) ($MN)
79 Middle East & Africa Virtual Tour Software Market Outlook, By Automotive (2020-2028) ($MN)
80 Middle East & Africa Virtual Tour Software Market Outlook, By Real Estate (2020-2028) ($MN)
81 Middle East & Africa Virtual Tour Software Market Outlook, By Tourism & Hospitality (2020-2028) ($MN)
82 Middle East & Africa Virtual Tour Software Market Outlook, By Education (2020-2028) ($MN)
83 Middle East & Africa Virtual Tour Software Market Outlook, By Healthcare (2020-2028) ($MN)
84 Middle East & Africa Virtual Tour Software Market Outlook, By Other End Users (2020-2028) ($MN)

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