At 31.2% CAGR, AR VR in Real Estate Market Ecosystem will reach US$ 1,151.9 Mn by 2023
Jan 30, 2020
Global AR VR in Real Estate Market 2020–2023 Trends & Forecast Report, Consistent with our stated policy of making available the best research and analysis report.
Fremont, United State - January 30, 2020 /MarketersMedia/ —
According to the AllTheResearch analysis, global AR VR in real estate market ecosystem was valued at US$ 298.6 Mn in 2018 and is expected to reach US$ 1,151.9 Mn in 2023, expanding at a CAGR of 31.2% during the forecast period.
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AR and VR are immersive technologies that allow users to interact with the digital environment. VR separates the users from the physical reality and immerses them into a new world. AR enhances the current reality. The combination of these two is referred as mixed reality. In addition to this, these technologies help users visualize properties and better imagine what these can look like.
By embracing digital transformation, professionals in the real estate shorten the buying journey and help both the sellers and buyers navigate the overall process easily and efficiently. Advantages associated with the AR VR technology include cost effectiveness, utilization of less time, and improvement in customer experience. In addition to these, it also offers in-depth analytics.
AR and VR offer advantages to different sectors of the real estate market, and they are helping in engaging potential buyers and in driving sales.
Technologies of AR VR in real estate market have been going through transformation over the years, as real estate professionals are utilizing the potential of providing a completely lifelike experience to prospective home buyers.
Most VR and AR technologies are available via apps and they have lots of features. Besides saving time and offering cost-cutting benefits and visualization, these apps gather information regarding property details from the outside display property boundaries and create floorpans.
Segmentation of AR VR in Real Estate ecosystem
AR VR in Real Estate Market ecosystem is analyzed by components like Silicon, GaN, Glass, SiC, Metals, Others
AR VR in Real Estate Market ecosystem is also analyzed by Product, Parts & devices like Head Up Displays, Head Mounted Displays, Smart Glass, Handheld Devices
AR VR in Real Estate Market ecosystem is also analyzed by application like Training, Monitoring/ Maintenance and also analysed in terms of services and solutions likeDocumentation, Visualization, 3D Modelling, Navigation, Workflow Optimization, Others
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Global AR VR in Real Estate Market Ecosystem:
In terms of products, parts and services, the market has been segmented into Head Up Displays, Head Mounted Displays, Smart Glass, and Handheld Devices. Head Mounted Displays dominated the market in 2018 and is expected display a similar trend in the coming years. The construction industry has been growing at a moderate pace over the years and the growth rate is expected to reach 30% during the forecast period. China, U.S, and India are leading the way and accounted for more than 50% of all the global growth in 2018. This has resulted in the rise in demand for AR VR in real estate industry over the years. Major companies operating in the market are Google, Microsoft, Facebook, MyPad3D, Matterport, Mirage Reality, Juego Studio Private Limited, ALLERIN, Scapic, VirtualAPT, RealVision, Rooomy, Truss, Strayos, IrisVR, Realar, Autodesk, Floored Build, VR Global, Inc., 3M, and Fologram Pty Ltd., among others.
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