Industry Background:
Virtual tour software helps in creating experiences by digitizing the space from multiple angles and also helps in getting accurate measurements. Its capabilities include 3D walk-throughs, 4K print quality photos, schematic floor plans, OBJ files, point clouds, videos, and others. This software helps in converting users panoramic or 360° photos to an interactive virtual experience. It is highly adopted by the homes and real estate to museums and landmarks, virtual tours across the globe. It also helps the user in navigating from scene to scene with just a click. And delivers greater location context to the scene with the help of built-in Tour Map or Google Maps.This growth is primarily driven by Growing Demand of Virtual Reality Technology in Real Estate Agents to Create a 360-Degree View of The Spaces and Grounds that are Being Promoted to their Potential Customers, Easy to Operate and Increasing Availability of Smartphones Along with Rising Penetration of Internet.
Globally, a noticeable market trend is evident Advancement in Technology Such as Advent of SaaS Cloud Technology and Virtual Reality
. Major Players, such as Matterport (United States), Pano2VR (Austria), Animoto (United States), iStaging (Taiwan), EYESPY360 (United Kingdom), Kuula (United States), HoloBuilder (United States), Roundme (Cyprus), CloudPano (United States) and SeekBeak (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Apr 2020, Engel & Volkers and Matterport announced a partnership to build an integrated product suite that delivers Engel’s network with the latest virtual technology capabilities. In this partnership, Engel & Volkers deploy a Matterport-certified local scan service professional to capture high= fidelity scans.
Market Drivers
- Growing Demand of Virtual Reality Technology in Real Estate Agents to Create a 360-Degree View of The Spaces and Grounds that are Being Promoted to their Potential Customers
- Easy to Operate
- Increasing Availability of Smartphones Along with Rising Penetration of Internet
Market Trend
- Advancement in Technology Such as Advent of SaaS Cloud Technology and Virtual Reality
- High Adoption from the Real Estate Industry
Restraints
- High Availability of Free Virtual Tour Software
Opportunities
Growing Trend of Automated Virtual Tour Creation & Social Posting, Property Landing Pages in Real Estate Industry, this Shows Strong Growth Potential in Future, Rising Demand of Virtual Reality Software Among Multiple Media Types into Single Asset and The surge in Demand For 3D and 360 Degree Virtual Tour
Challenges
Slow Down in Economy, Because of COVID-19 Crises, there is Huge Downfall in Real Estate Sector
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Virtual Tour Software Study Sheds Light on
The Virtual Tour Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Virtual Tour Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Virtual Tour Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.