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Why Matterport is the next big thing in tech

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Matterport is turning physical buildings into digital buildings and the process is easier than ever. It also provides a strong future prospect for investors that wants to capitalise on this digital transformation.

Introduction

So what is Matterport exactly? Matterport was founded in California in 2011 and is the leading spatial data company focused on digitising and indexing the built world with its hardware and software. It enables anyone to turn a space into an accurate and immersive digital twin which can be used to design, build, operate, promote, and understand any space.

Products

Matterport first requires a device to capture the image within the product. Then with the image, you can choose a subscription plan (currently 4 available) that ranges from free to $309 per month with each plan having different features. The current subscription plans available are free, starter, business, and professional.

Free

Works with iPhones, Android devices and supported 360 cameras

  • 1 active user and active space allowed
  • Able to view images on cloud
  • Able to Download photos and videos
  • Able to take measurements

Starter

Works with iPhones, Android devices and supported 360 cameras

  • 1 active user with 5 active space
  • Feature from the plan above
  • Can be shared and embed anywhere
  • Publish to Realtor.com and to Google Street View free for a limited time
  • Basic Space traffic analytics

Professional

Works with iPhones, Android devices, and all supported cameras

  • 5 active users and 25 active spaces
  • Feature from the plan above
  • Small team collaboration
  • Automatic face blurring
  • Schematic floor plans and technical file (on-demand with extra cost)

Business

Works with iPhones, Android devices, and all supported cameras

  • 20 users with 100 active spaces
  • Feature from the plan above
  • Large team collaboration
  • Account administration
  • Export traffic report

The current devices that Matterport supports are iPhone or Ipad, 360 cameras, Matterport Pro 2, and Leica BLK360 with each hardware having different capabilities. iPhone or Ipad and 360 cameras are usually meant for individuals to have access to quick, portable, entry-level 3D scanning. Both devices have similar capabilities except the 360 cameras allow you to scan more room and spaces and have higher quality image and portability. Examples, where 360 cameras can be used, are capturing small homes, condos, and apartments for rental or selling. Matterport Pro 2 has the highest-quality 3D scans with unlimited 4K photography and long battery life for multiple scans whereas the Leica BLK360 has similar capabilities and the highest accuracy available. Both of these cameras are suitable to scan spaces such as homes, apartments, hotels, and commercial buildings.

So what can Matterport do?

First, let's go through the process. Matterport Capture allows you to capture the space with the devices above. Once the Matterport Cloud creates your digital twin, you can edit your space in Matterport Workshop. You are able to do things such as label rooms, measure your space, select 4K quality photos, customize a VR experience, and Invite collaborators to view, upload, and edit your space. Then using Matterport Showcase, you and your audience view and explore your space in its final format. You can go through the space with different formats and experience the space in VR if you have a compatible device such as Oculus.

The next generation of GPS
Time to go from 2D to 3Dfelixfung524.medium.com

Why Matterport

Matterport allows industries like real estate, hospitality, construction to work more efficiently. The digital twin (spaces that Matterport captured) are useful in architecture, engineering, and construction because it can store essential information about building plans, exact measurements, and the status of specific projects that enable companies to collaborate from design plans through project completion. In real estate and the hospitality industry, the digital twin enhances the experience of the potential customer’s tour at the property’s spaces without having to invite them to come to the actual site which allows purchases or rentals to be done much more easily.

Matterport is growing rapidly, in 2020 there are 250 thousand subscribers using Matterport with 10 billion square feet being captured in over 150 countries. Despite its recent growth, the company is only touching the tip of the iceberg when it comes to its TAM (total addressable market). The TAM for digitization of the built world is estimated to be $240 billion and Matterport’s current market cap is only under $5 billion which leaves a lot of room for growth, therefore I believe Matterport is on its way to becoming the next big thing in the tech industry.

© 2021 felix fung

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