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Virtual Tour Market Expected to Reach $6.5 Billion by 2030—Allied Market Research

 
2022
Virtual Tour Market

Report Code : A15786

quote According to Roshan Deshmukh, Research Manager-Research, Food & Beverages at Allied Market Research, “Growth of the real estate and tourism industry, increase in internet connectivity, and technological advancements and rise in application areas among various industry verticals are some of the major factors which leads to enhance the growth of the market.” quote

Roshan Deshmukh - Manager
Consumer Goods at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Virtual Tour Market," The virtual tour market was valued at $448.10 million in 2020, and is estimated to reach $6.5 billion by 2030, growing at a CAGR of 31% from 2021 to 2030.

The global Virtual Tour Market Size was valued at $448.1 million in 2020, and is projected to reach $6,537.1 million by 2030, registering a CAGR of 31.0% from 2021 to 2030. The 3D virtual tour segment was the highest revenue contributor to the market, and is estimated to reach $2,810.2 million by 2030, with a CAGR of 30.4%.

Growth of the real estate and tourism industry and increase in internet connectivity act as the Virtual Tour Market Trends of the global Virtual Tour Industry. In addition, increase in use of consumer electronic devices is expected to fuel the virtual tour market growth . However, lack of effective user experience design and slow adoption of virtual reality solutions among underdeveloped economies are the major factors that impede the market growth. Conversely, technological advancements and rise in application areas among various industry verticals are expected to provide lucrative Virtual Tour Market Demandfor the market growth.

In 2020, on the basis of type, 3D Virtual Tour held the major virtual tour market share, and is expected to maintain its dominance in the upcoming years. This is due to rise in applications of virtual reality solutions in construction, tourism industry, healthcare, education, and real estate industries. However, the virtual reality tour segment is expected to witness highest growth, due to AR & VR technology benefits such as reduced field staff training costs, faster repairs, and greater customer satisfaction.

By Application, tourism segment held the major share of 35.6% in the global virtual tour market. Virtual reality technologically involves the use of VR headset, which helps to immerse a user in digital environment.

North America region held the major share in the virtual tour market. This is attributed to the increase in technological advancements in real estate and tourism sector, growth in penetration of gaming industry and remarkable growth in e-learning market.

Major players operating in the global virtual tour market are Pan 3sixty, Mi 360, 360 Pano Vr Solutions Pvt. Ltd, 360 Imagery, Exsight 360, Blueravenstudios, Invision Studio Inc, Starts360, Tourvista, and Eye Revolution Ltd.

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quote Virtual Tour Market by Type (360 Virtual Tour, 3D Virtual Tour, Virtual Reality Tour), by Application (Tourism, Real Estate, Art gallery and museum, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030 quote

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