According to a report by Goldman Sachs, the VR and AR market in real estate is expected to reach $2.6 billion by 2025, with the XR market expected to grow even faster. This growth is being driven by a range of factors, including the increasing availability and affordability of VR and AR devices as well as the exploding demand for more immersive and interactive experiences - online and on site. The emergence of XR in PropTech has dramatically expanded the hiring scope at top commercial real estate firms, where executives are suddenly debating how to effectively scale new tech skills like digital twin engineers, AR designers, and VR developers.
