Global Virtual Reality in Retail Market Overview:
Virtual reality (VR) is changing the way customers interact with retail products and brands. The virtual reality (VR) retail market is expected to witness significant growth fueled by its ability to deliver immersive and immersive shopping experiences. Further, growing popularity of immersive product experiences such as virtual try-ons and 360-degree product tours, meeting consumers for personalized interactions through VR configurators is expected to pose growth in market. Retailers are also offering virtual showrooms and try before you buy options for their customers which is expected to create noteworthy opportunities for the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Emerging Trend of VR Try On in Cosmetic, Apparel and Footwear Sector
Market Growth Drivers:
Growing Demand of VR Technology in Retail Sector to Provide Interactive Shopping Experience and Shifting Consumers Preference Towards the Personalized and Customized Shopping Experience
Challenges:
Lack of Awareness and Less Adoption of Augmented and Virtual Reality in Some Developing and Underdeveloped Countries
Restraints:
High Cost Associated With VR Hardware and Less Ownership Among Consumers
Opportunities:
Use of VR Technology By Retailers for Advertising and Product Storytelling Experience
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are Apple Inc. (United States), Microsoft Corporation (United States), Google LLC (United States), HTC Corporation (Taiwan), SteamVR (Valve Corporation) (United States), Amazon Web Services, Inc. (United States), Meta Platforms, Inc. (United States) and Sony (Japan). Analyst at AMA Research see United States Players to retain maximum share of Global Virtual Reality in Retail market by 2030. Considering Market by Components, the sub-segment i.e. Hardware will boost the Virtual Reality in Retail market. Considering Market by Verticals, the sub-segment i.e. Apparel & Footwear will boost the Virtual Reality in Retail market.
What Can be Explored with the Virtual Reality in Retail Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Virtual Reality in Retail Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Virtual Reality in Retail
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Virtual Reality in Retail market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Virtual Reality in Retail market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Virtual Realty Hardware Manufacturers, Retailers & E-commerce Companies, Venture Capitalists and Private Equity Firms, Government Regulatory, Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.