DUBLIN--(BUSINESS WIRE)--The "Virtual Tour Market by Type, Application: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global virtual tour market 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. North America region dominated the virtual tour market in 2020 and is likely to remain same throughout the forecast period.
Virtual tours are a new form of marketing that allows customers to experience services or products by a retailer in a virtual environment. A virtual tour can improve a business, as it gives a sense of luxury, builds more trust with customers, and increases engagement with the brand's website.
Rising adoption of smartphones and technological advancements have allowed its users to view virtual images immersed in real contexts. In addition, they are also able to connect with these images and objects to interact with them by simply using the camera on their smartphone devices, which are the major factors boosting the growth of the virtual tour market. Moreover, augmented reality (AR) and virtual reality (VR) are becoming vital components of modern smartphones, and mobile devices are expected to drive the demand for these technologies. Also, smartphone makers are now planning to develop the next wave of revolutionary computing devices, which is expected to bring new opportunities for the growth of the market. Furthermore, AR can be delivered through smartphone alone owing to the location-based AR apps.
Although, the adoption of AR is still in its nascent stage, there are huge opportunities for the large-scale adoption of AR as, the penetration of smartphones is booming at a rapid rate in emerging economies such as India. For instance, it was estimated to reach over 400 million users by 2020, which is expected to be opportunistic for the growth of the AR and VR industry in upcoming years.
Based on the virtual tour market analysis, the market is segmented into type and application. Based on type, it is segmented into 360 virtual tour, 3D virtual tour, and virtual reality tour. Based on application, the market is segmented into tourism, real estate, art gallery & museums and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Malaysia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the United Arab Emirates, Nigeria, Saudi Arabia, South Africa, and rest of LAMEA).
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the virtual tour market analysis from 2020 to 2030 to identify the prevailing virtual tour market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the virtual tour market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global Virtual Tour Industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global virtual tour market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- 360 Virtual Tour
- 3D Virtual Tour
- Virtual Reality Tour
By APPLICATION
- Tourism
- Real Estate
- Art gallery and museum
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Nigeria
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Pan 3Sixty
- MI 360
- 360 Pano VR Solutions Private Limited
- 360 Imagery
- Exsight 360
- Blue Raven Studios
- Invision Studio, Inc
- Starts360
- TourVista
- Eye Revolution Ltd
For more information about this report visit https://www.researchandmarkets.com/r/d5k9r3
