3D real estate modeling is a fast-growing market. The accessibility of 3D technologies, the growing demand for realistic visuals and the need for remote viewing in the wake of the COVID-19 pandemic have all contributed to the expansion of this market. Today, the creation of 3D models of real estate projects is an essential technique for real estate professionals to meet new market demands. In this article, discover the evolution of the 3D modeling market, the players involved and the impact of this market's growth on real estate development.
How has the real estate 3D modeling market evolved?
Long intended for the entertainment, product design and marketing sectors, 3D modeling has gradually gained ground in the real estate industry.
The history of 3D real estate modeling
The origins of 3D real estate modeling date back to the 1960s and 1970s. Architects and civil engineers brought their projects to life using cardboard models. This enabled them to better apprehend volumes and spaces.
Thearrival of computers and computer-aided design (CAD)software in the 1980s enabled the first virtual 3D models of real estate projects to be created. However, this technology was expensive and not easily accessible.
The use of 3D modeling in the real estate sector was democratized a little later, thanks to technological advances. The emergence of increasingly powerful software has made 3D modeling more accessible to the general public. It should be noted that the impact of COVID-19 on the real estate sector accelerated its adoption, as digital solutions became the norm. Today, this technology is used by many real estate professionals to analyze, present, realize and sell their projects.
Future prospects
In 2021, less than 15% of real estate projects are modeled and presented in 3D. According to data from Mordor Intelligence, the size of the 3D modeling market is expected to reach $14.82 billion by 2029. With a forecast of $7.48 billion in 2024, the Compound Annual Growth Rate (CAGR) for this forecast period is 14.64%.
It's fair to say that the future of 3D real estate modeling is very bright. 3D solutions will further transform the way the various players in the real estate industry communicate. Virtual tours will become even more realistic and immersive, and the range of personalization options available to customers will be broader and more extensive. The integration of virtual reality and augmented reality technologies into 3D models will further engage potential buyers.
Who are the players in the 3D real estate modeling market?
The various players in the 3D real estate modeling market are contributing to the development of this sector.
Suppliers of 3D modeling goods and services
In the real estate 3D modeling market, we distinguish between :
- 3D modeling software suppliers: these are companies that offer software for professionals and private individuals to create 3D models of a property. Examples include SketchUp, Autodesk, Blender, ZBrush, Unreal Engine, etc.
- Suppliers of 3D modeling equipment: these are companies that sell computers, graphics cards, drones and any other equipment needed for 3D modeling.
- 3D modeling companies: these are companies specialized in creating 3D models and providing 3D visualization services. They generally bring together various professions, such as computer graphics artists, designers, 3D animators, texturers and so on.
3D model users
3D modeling services are available for :
- Real estate developers: they work closely with 3D modeling service providers for the virtual presentation of their real estate projects. 3D models support developers at every stage of their work, from design to marketing.
- Real estate agents: 3D visualization of real estate properties makes it easier for customers to make projections, and helps agents boost sales. They can integrate 3D visuals into real estate ads, on their website and on their social networks.
- The various parties involved in a real estate project - architects, engineers and builders - can all take advantage of 3D modeling to reduce unforeseen events on site.
- Customers: they participate in the real estate 3D modeling market, due to their growing demand for realistic, aesthetic and immersive representations of their future homes.
What impact will the growth of the 3D modeling market have on real estate developers?
The democratization of 3D modeling offers several advantages in the real estate sector, and particularly in property development.
Performance and productivity
3D modeling of real-estate projects improves efficiency and performance for all stakeholders. The three-dimensional graphic visualization provides a better understanding of spaces. In fact, right from the design phase, it enables the detection of potential errors that may arise during construction. It also facilitates communication between the various parties involved (engineer, architect, site manager) to speed up the execution of construction work.
The growth of the 3D modeling market has also enabled professionals to broaden the scope of modeling to optimize productivity. By modeling BIM information, it is possible toautomate certain tasks and simulate certain actions. For example, the BIM model is capable of providing data on a building's energy efficiency even before construction.
Cost reduction
The growth of the 3D real estate modeling market has made this solution more accessible to real estate professionals. It can ensure a good return on investment thanks to :
- Reduced design costs: staging using physical models can be costly and time-consuming, whereas virtual staging is simpler and faster;
- Reduced construction costs: errors on construction sites are reduced, avoiding the cost of modifications and wasted resources;
- Productivity gains: project completion times are reduced and marketing made easier;
- Minimize travel expenses: potential buyers simply connect to a digital medium to take a virtual tour of the premises.
Sales boost
Real estate 3D modeling continues to gain ground, and has truly transformed customer expectations. Customers now rely on realistic, immersive 3D visuals to help them make their choices. This facilitates their projection into their future home, thanks to the ability to rotate 360°, visualize details and sometimes simulate certain layout options.
This makes 3D modeling an undeniable real estate selling point. Enrich your real estate ads with 3D visuals to attract your target audience and arouse their emotions. Offer virtual visits to create a deeper connection between the customer and the property, before organizing a physical visit.
Improving real estate marketing
It's possible to gather valuable data on potential buyers thanks to 3D modeling. Indeed, by integrating analysis and CRM tools with virtual models, you can obtain information on the preferences and behaviors of your typical customer. By analyzing this data, you can determine the most attractive aspects of a property and adjust your strategy accordingly.
Finally, integrating 3D modeling into your real estate marketing offers a crucial competitive advantage in an increasingly saturated real estate market. You differentiate yourself from the competition, while strengthening customer engagement. 3D modeling is your gateway to other cutting-edge technologies (VR, AR, AI), enabling you to adapt to changing customer expectations.
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