Virtual Tour Software Market Size, Share, Opportunities, And Trends By Type (360 Virtual Tour, 3D Virtual Tour, Virtual Reality Tour), By Deployment (Cloud, On-Premise), By End-Users (Education, Tourism, Automotive, Real Estate, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061614882
  • Pages : 120

The virtual tour software market is projected to grow at a CAGR of 17.15% to reach US$2.589 billion in 2029 from US$0.855 billion in 2022.

The virtual tour software market is increasing due to the proliferation of VR, AR, and MR devices. The software for virtual tours that facilitates destination-based marketing is one of the expanding uses for virtual reality. Many industries are using this software as a new marketing tactic to increase consumer interaction, including education, automotive, manufacturing, security, real estate, tourism, and hospitality. Through the use of a virtual solution, the marketing plan is anticipated to enhance client satisfaction and increase interaction sessions.

virtual tour software market

Market Driver:

  • Growing Demand from End-Users is driving the market growth.

The need for virtual tour software is being driven by the growing demand for virtual tourism as well as the adoption of the program by several industries, including real estate, tourism, education, and the automotive sector. For instance, in June 2022, the virtual mapping business Concept3D partnered with Pathify, a higher education engagement company, to offer 3D mapping services to colleges and institutions. Additionally, zSpace is an edtech company that creates interactive augmented reality (AR) experiences for specific hardware. It provides immersive learning resources for important industries like transportation, agriscience, advanced manufacturing, and health sciences.

  • Growing Applicability in the real estate sector is augmenting the market expansion.

The adoption of virtual tour software is increasing in real estate as virtual tour software is immersive, they are becoming more common in the real estate industry. Real estate brokers can more successfully target the correct buyers, offer 360 virtual tours, and uncover targeted leads by integrating virtual reality. Moreover, offering 360-degree virtual tours of a property can also result in higher earnings. Virtual tours offer realtors the ability to offer superior customer service, which increases the likelihood that the offered property will fetch a higher price. The virtual tour software also enhances the overall bid value, real estate brokers who accept bids for their listings can also boost their revenues from sales. For instance, renowned proptech company Square Yards has announced a 70% rise in FY23 revenues, at Rs. 670.5 crores, driven by the growing demand for residential real estate. In 2021–2022, the company's revenue was Rs. 395.6 crore. One of the main sources of the company's overall revenue was the real estate industry.

North America is anticipated to account for a considerable share

The growing technological innovation coupled with the bolstering growth in major end-users and favourable investment to bolster Augmented Reality (AR) and Virtual Reality (VR) have positively impacted the market demand for virtual tour software in major North American economies such as the USA. According to the World Travel and Tourism Council’s “Travel & Tourism Economic Impact 2023 Global Trends” report, in 2022, the tourism sector's contribution to U.S GDP reached nearly US$2 trillion which represents a 16.9% increase over 2021. Furthermore, as per the same source, the GDP contribution is expected to reach US$2.2 trillion in 2023. Moreover, the recent launches of virtual tours in the USA are also paving the way for market growth, for instance, in October 2023, First Lady Jill Biden launched a new virtual tour of the White House on National Civics Day. The virtual tour displayed Google’s Street View Technology and came as a collaboration of the White House with Google Arts & Culture and Google Maps

Market Development:

  • In January 2024: Maker of “iGUIDE” Planitar Inc. introduced “IGUIDE Instant” a new AI-powered digital solution to redefine 3D virtual tour and interactive floor plans in real estate photography. The new solution uses iGUIDE proprietary AI technology and PLANIX camera system to captivate 3D virtual tours.
  • In December 2023: Instra360 announced a partnership with Release which aimed to use Insta360’s “360 Camera Technology” with Release’s virtual tour system. The new platform would feature free floor plan modification, a comprehensive editing tool kit, and AI virtual renovation.
  • In May 2022: Intel Corporation launched its virtual Intel Museum, located in California, to allow distant visitors to examine museum material, navigate museum floors, and engage with exhibits, the company built 3D interactive virtual tours.

Virtual Tour Software Market Scope:

 

Report Metric Details
Market Size Value in 2022 US$0.855 billion
Market Size Value in 2029 US$2.589 billion
Growth Rate CAGR of 17.15% from 2022 to 2029
Base Year 2022
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered
  • Type
  • Deployment
  • End-User
  • Geography
Companies Covered
  • CloudPano
  • RTV Inc.
  • Concept3D (3D BIM Design)
  • Klapty
  • Kuula LLC
  • And more
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase

 

Segmentation:

  • By Type
    • 360 Virtual Tour
    • 3D Virtual Tour
    • Virtual Reality Tour
  • By Deployment
    • Cloud
    • On-Premise
  • By End-User
    • Education
    • Tourism
    • Automotive
    • Real Estate
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Singapore
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

The virtual tour software market is projected to reach a total market size of US$2.589 billion in 2029.
The global virtual tour software market is projected to grow at a CAGR of 17.15% during the forecast period.
Virtual Tour Software Market was valued at US$0.855 billion in 2021.
North America holds a significant share of the virtual tour software market.
The virtual tour software market is increasing due to the proliferation of VR, AR, and MR devices.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits for the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. VIRTUAL TOUR SOFTWARE MARKET BY TYPE

5.1. Introduction

5.2. 360 Virtual Tour

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness Insights

5.3. 3D Virtual Tour

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness Insights

5.4. Virtual Reality Tour

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness Insights

6. VIRTUAL TOUR SOFTWARE MARKET BY DEPLOYMENT

6.1. Introduction

6.2. Cloud

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness Insights

6.3. On-Premise

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness Insights

7. VIRTUAL TOUR SOFTWARE MARKET BY END-USER

7.1. Introduction

7.2. Education

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness Insights

7.3. Tourism

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness Insights

7.4. Automotive

7.4.1. Market Trends and Opportunities

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness Insights

7.5. Real Estate

7.5.1. Market Trends and Opportunities

7.5.2. Growth Prospects

7.5.3. Geographic Lucrativeness Insights

7.6. Others

7.6.1. Market Trends and Opportunities

7.6.2. Growth Prospects

7.6.3. Geographic Lucrativeness Insights

8. VIRTUAL TOUR SOFTWARE MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Deployment

8.2.3. By End-User

8.2.4. By Country

8.2.4.1. USA

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Type

8.3.2. By Deployment

8.3.3. By End-User

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Type

8.4.2. By Deployment

8.4.3. By End-User

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. Germany

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. France

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Italy

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Spain

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.4.4.6. Others

8.4.4.6.1. Market Trends and Opportunities

8.4.4.6.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Deployment

8.5.3. By End-User

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Others

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Deployment

8.6.3. By End-User

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. India

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. South Korea

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Australia

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

8.6.4.6. Singapore

8.6.4.6.1. Market Trends and Opportunities

8.6.4.6.2. Growth Prospects

8.6.4.7. Indonesia

8.6.4.7.1. Market Trends and Opportunities

8.6.4.7.2. Growth Prospects

8.6.4.8. Others

8.6.4.8.1. Market Trends and Opportunities

8.6.4.8.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. CloudPano

10.2. RTV Inc.

10.3. Concept3D (3D BIM Design)

10.4. Klapty

10.5. Kuula LLC

10.6. Matterport Inc.

10.7. My360 (Plush Global Media)

10.8. 3DVista

10.9. EyeSpy360

10.10. Capterra Inc.


CloudPano

RTV Inc.

Concept3D (3D BIM Design)

Klapty

Kuula LLC

Matterport Inc.

My360 (Plush Global Media)

3DVista

EyeSpy360

Capterra Inc.