Innovative Sector Found to be in Early Stages of Adoption and Growth
Stafford, TX (December 18, 2018)– RealNex, a commercial real estate technology company, together with its 3D Virtual Reality affiliate Pix and industry partner CRETech announced today the release of its inaugural survey of current use and future prospects for 3D VR in the real estate industry
The results provide instructive insight into who is using VR, how they are using it and what obstacles are hindering greater adoption. These results also enable market participants to better assess the competitive landscape and understand how this cutting-edge technology is changing the manner in which business is being conducted.
The prevailing conclusion from the survey suggests that, while adoption and regular usage of VR remains low, most firms are actively evaluating its use. Approximately two-thirds of the respondents indicated that they are currently using or plan to use VR in the near future. Not surprisingly, architecture and engineering firms are the most active users, while 68% of investors are inclined to seek opportunities to employ the technology. Interestingly, the survey results were generally consistent between small/midsized firms and large firms.
“3D VR is transformative in its ability to visually present property. Whether analyzing a new development or the future possibilities of an existing space, this immersive experience enables, better, faster and cheaper evaluation and decision-making,” noted RealNex and Pix Chairman Mark Kingston.
In short, the survey found the state of the market for VR in real estate is early stage with high interest. While different segments of the industry have different levels of experience with VR, most are paying close attention to the technology and evaluating means of implementing it. Many are looking for opportunities to employ VR now. However, the rate of usage will undoubtedly increase as more people understand that the current technology is neither complicated nor costly and delivers a great value proposition.
For more insights and details on the usage of VR, readers may access a free copy of the survey results here.
RealNex is a leading commercial real estate technology solutions company. It strives to become the portal and marketplace for the commercial real estate industry by integrating sector-based solutions to improve marketplace efficiency, transparency and liquidity. Its singular solution is designed to improve user success by increasing accuracy, professionalism and productivity. Learn more here.
PIX was founded by a group of successful real estate veterans and business leaders in conjunction with pioneers in the field of interactive 3D computer gaming and virtual reality to develop state-of-the-art, immersive 3D virtual experiences for the real estate and related industries. Learn more here.
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