Growth In Real Estate Industry Fuels Expansion Of The Virtual Tourism Market: Strategic Insights Driving Virtual Tourism Market Momentum in 2025

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How Large Will the Virtual Tourism Market Size By 2025?
In the last few years, the size of the virtual tourism market has seen a swift growth. It is expected to expand from a volume of $12.38 billion in 2024 to $14.56 billion in 2025, representing a compound annual growth rate (CAGR) of 17.6%. Factors such as increased internet accessibility, the surge in mobile device usage, expansion of digital marketing, enhanced consumer preference for convenience, and increased investment in virtual tour infrastructure have contributed to the market's growth during the prior period.

How Big Is the Virtual Tourism Market Size Expected to Grow by 2029?
The market size of virtual tourism is predicted to witness substantial growth in the coming years, reaching a value of $27.93 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 17.7%. The anticipated growth during this period can be associated with the rising use of 5G networks, increasing prevalence of smart devices, the development of digital marketing strategies, improved user experience functionalities, and the inclusion of engaging features. Key trends expected to mark this period are the growing adoption of Virtual Reality (VR), the development of remote experiences, the incorporation of Artificial Intelligence (AI), the broadening of educational content, and the addition of social features.

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Which Key Market Drivers Powering Virtual Tourism Market Expansion and Growth?
The escalating growth of the real estate sector is anticipated to fuel the advancement of the virtual tourism market. The real estate sector, which includes buying, selling, leasing, and managing residential, commercial, and industrial properties, is on a steady rise owing to urbanization, economic progress, and favorable conditions for investment. To provide immersive property tours, real estate firms are utilizing virtual reality (VR) and augmented reality (AR) technologies, making worldwide exploration possible without physically visiting locations. This significantly amplifies virtual tourism by drawing in prospective buyers and tourists through comprehensive, interactive footages of high-end properties. For example, in July 2024, the United States Census Bureau revealed that the number of privately owned housing units authorized by building permits in June 2023 was 1,493,000. This figure is 3.1 percent higher than the 1,399,000 units approved in May 2023. Consequently, the surging real estate industry is set to propel the virtual tourism market.

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What Are the Key Trends Driving Virtual Tourism Market Growth?
Significant players in the virtual tourism sector are utilizing advanced technology, including AI-powered 3D virtual tours, to provide cost-effective and high-speed 3D solutions that overhaul virtual real estate experiences. These 3D tours, driven by artificial intelligence, generate images of real-world locations, offering users a unique, interactive experience within these virtual environments. The technology includes adaptive content and personalized viewing experiences for users. As an example, Planitar Inc., based out of Canada and operating in the measurement technology industry, released iGUIDE Instant in January 2024. Priced at just USD 7.99 per project, it equips real estate photographers with the ability to quickly construct high-caliber virtual tours and floor plans, often achievable within minutes of gathering property data. The tool is easily integrated with social media and website platforms and gives listing agents access to customizable branding options. Additionally, iGUIDE Instant furnishes agents with analytics reports to monitor online engagement, which helps in gauging the efficacy of their listing. It can capture high-resolution, 360° imagery, allowing potential buyers to inspect properties in extraordinary detail and optimizing their viewing experience.

What Are the Emerging Segments in the Virtual Tourism Market?
The virtual tourism market covered in this report is segmented -

1) By Type: 360 Virtual Tour, Three-Dimensional (3D) Virtual Tour, Virtual Reality Tour
2) By Product Type: Cloud-Based, Web Based
3) By Technology: Three-Dimensional (3D) Scanning And Imaging, Photogrammetry, Computer Vision, Haptic Feedback, Spatial Audio, Other Technologies
4) By Direct Suppliers: Airlines, Hotel Campaigns, Tour Operators, Government Bodies
5) By End-Use: Travelers And Tourists, Hospitality And Accommodation, Cultural And Historical Sites, Entertainment And Recreation, Education And Training, Other End-Uses

Subsegments:
1) By 360 Virtual Tour: Single Location 360 Tours, Multiple Location 360 Tours
2) By Three-Dimensional (3D) Virtual Tour: 3D Static Tours, 3D Interactive Tours
3) By Virtual Reality Tour: Immersive VR Tours, Non-immersive VR Tours

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Who Are the Global Leaders in the Virtual Tourism Market?
Major companies operating in the virtual tourism market are Google LLC, Intel Corporation, Toshiba Corporation, Ricoh Co. Ltd., Zebra Technologies Corp., Autodesk Inc., Trimble Inc., Zillow Group, Leica Geosystems AG, Cvent Inc., Magic Leap Inc., Vuzix, Real Tour Vision (RTV) Inc., Vieweet, Urbanimmersive Inc., Blippar Group Limited, UNIMERSIV, Kuula Inc., Virtual Pictures Corp., Cupix Inc.

Which are the Top Profitable Regional Markets for the Virtual Tourism Industry?
North America was the largest region in the virtual tourism market in 2024. The regions covered in the virtual tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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