According to a new report, published by KBV research, The Global Virtual Tour Market size is expected to reach $7.35 billion by 2031, rising at a market growth of 29.8% CAGR during the forecast period.
The adoption of AR and VR is making virtual tours more interactive and realistic. For instance, AR allows users to superimpose digital elements onto real-world views, while VR offers complete immersion in a simulated environment. With the proliferation of smartphones, many virtual tours are optimized for mobile devices, ensuring easy access and seamless experiences on the go.
The Semi & Fully Immersive segment is experiencing a CAGR of 29.5 % during the forecast period. This segment includes virtual reality (VR) and augmented reality (AR) technologies, which offer highly interactive, lifelike experiences. Using VR headsets, motion sensors, and other immersive equipment, users can navigate through and interact with virtual environments as if they were physically present.
The Hardware segment led the maximum revenue in the Global Virtual Tour Market by Component in 2023, thereby, achieving a market value of $4.6 billion by 2031. This growth is driven by the increasing demand for specialized devices such as VR headsets, cameras, and sensors to capture and experience virtual tours. As virtual reality and augmented reality technologies continue to advance, the need for high-quality hardware to deliver seamless and immersive experiences has become essential.
The Real Estate segment is growing at a CAGR of 29.2 % during the forecast period. Virtual tours have become a game-changer for the real estate industry, allowing prospective buyers and renters to explore properties remotely, saving both time and effort. Real estate agents and property developers have increasingly adopted virtual tour technology to provide immersive experience to clients, allowing them to view homes, apartments, and commercial spaces without being physically present.
Full Report: https://www.kbvresearch.com/virtual-tour-market/
The North America region dominated the Global Virtual Tour Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.5 billion by 2031. The Europe region is anticipated to grow at a CAGR of 29.6% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 30.5% during (2024 - 2031).
By Technology
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