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PUBLISHER: Grand View Research | PRODUCT CODE: 1301237
PUBLISHER: Grand View Research | PRODUCT CODE: 1301237
Virtual Reality In Retail Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Device (Head Mounted Devices, Gesture Tracking Device), By Application, By Vertical, By Region, And Segment Forecasts, 2023 - 2030
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PAGES: 150 Pages
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Virtual Reality In Retail Market Growth & Trends
The global virtual reality in retail market size is expected to reach USD 23.69 billion by 2030, expand at a CAGR of 28.0% from 2023 to 2030, according to a new study by Grand View Research, Inc. Virtual reality is transforming the retail market by providing an enhanced customer experience and overcoming physical limitations. By offering immersive and interactive shopping experiences, VR allows customers to visualize products in 3D, try them on virtually, and explore realistic environments. This technology enables retailers to showcase their entire product catalog in a virtual store, eliminating space and inventory constraints. The result is an engaging and convenient shopping experience that increases customer satisfaction and loyalty, driving the adoption of virtual reality in the retail market.
Moreover, the integration of Artificial Intelligence (AI) with virtual reality headsets provides growth opportunities for virtual reality in retail market as it helps in motion tracking with the help of a camera and blends in seamlessly with the user's perspective. In addition, with the help of a retail store web-based and mobile-based application, customers can plan their upcoming store visits. This application also offers specific product locations in offline stores, which makes it convenient for customers to continue their purchases. This, in turn, is driving the virtual reality in retail market growth over the forecast period.
Several companies operating in the virtual reality in retail market focus on launching new products and offerings to enhance user experience with the help of partnerships to attract a more extensive customer base and strengthen their foothold in the industry. For instance, in September 2022, Bloomingdale's Inc., an American luxury department store chain, launched their virtual store in celebration of their 150th anniversary along with offering 360-degree views of products. This, in turn, is expected to propel the virtual reality in retail market growth over the forecast period.
Virtual Reality In Retail Market Report Highlights
- Based on the component segment, the software segment is expected to record the highest CAGR over the forecast period, owing to the ongoing innovations and technological developments in the virtual reality in retail market
- Based on the device segment, the gesture tracking device segment is expected to register a significant growth rate over the forecast period, attributed to the increasing adoption of gesture tracking technologies, such as hand tracking and motion sensors
- Based on the application segment, the advertising & marketing segment is expected to witness a significant revenue share in the coming years. This is attributed to the growing trend of brand differentiation, increasing market presence, improved product visualization, targeted campaigns, and valuable insights in companies
- Based on the vertical segment, the food and beverage segment is expected to record a considerable CAGR, owing to the emergence of virtual dining experiences
- The European region is anticipated to exhibit the fastest CAGR, owing to the presence of numerous notable fashion brands that are implementing virtual reality to enhance the customer experience
Product Code: GVR-4-68040-086-7
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope and Assumptions
- 1.4.1 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.2 Market Restraint Analysis
- 3.3.3 Market Challenges
- 3.3.4 Market Opportunities
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's Analysis
- 3.4.2 Macroeconomic Analysis
Chapter 4 Component Estimates & Trend Analysis
- 4.1 Component Movement Analysis & Market Share, 2022 & 2030
- 4.2 Virtual Reality in Retail Market Estimates & Forecast, By Component (USD Million)
- 4.2.1 Hardware
- 4.2.2 Software
- 4.2.3 Services
Chapter 5 Device Estimates & Trend Analysis
- 5.1 Device Movement Analysis & Market Share, 2022 & 2030
- 5.2 Virtual Reality in Retail Market Estimates & Forecast, By Device (USD Million)
- 5.2.1 Head Mounted Devices
- 5.2.2 Gesture Tracking Devices
- 5.2.3 Projectors & Display Wall
Chapter 6 Application Estimates & Trend Analysis
- 6.1 Application Movement Analysis & Market Share, 2022 & 2030
- 6.2 Virtual Reality in Retail Market Estimates & Forecast, By Application (USD Million)
- 6.2.1 Information Systems
- 6.2.2 Advertising & Marketing
- 6.2.3 Try-on Solutions
- 6.2.4 Planning & Designing
Chapter 7 Vertical Estimates & Trend Analysis
- 7.1 Vertical Movement Analysis & Market Share, 2022 & 2030
- 7.2 Virtual Reality in Retail Market Estimates & Forecast, By Vertical (USD Million)
- 7.2.1 Food and Beverage
- 7.2.2 Home Products
- 7.2.3 Clothing
- 7.2.4 Consumer Electronics
Chapter 8 Regional Estimates & Trend Analysis
- 8.1 Virtual Reality in Retail Market by Region, 2022 & 2030
- 8.2 North America
- 8.2.1 North America Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.2.2 U.S.
- 8.2.2.1 U.S. Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.2.3 Canada
- 8.2.3.1 Canada Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.2.4 Mexico
- 8.2.4.1 Mexico Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3 Europe
- 8.3.1 Europe Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.2 Germany
- 8.3.2.1 Germany Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.3 U.K.
- 8.3.3.1 U.K. Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.4 France
- 8.3.4.1 France Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.5 Italy
- 8.3.5.1 Italy Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.2 China
- 8.4.2.1 China Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.3 Japan
- 8.4.3.1 Japan Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.4 India
- 8.4.4.1 India Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.5 South Korea
- 8.4.5.1 South Korea Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.5 South America
- 8.5.1 South America Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.5.2 Brazil
- 8.5.2.1 Brazil Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.5.3 Argentina
- 8.5.3.1 Argentina Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.6 Middle East & Africa (MEA)
- 8.6.1 MEA Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.6.2 Saudi Arabia
- 8.6.2.1 Saudi Arabia Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.6.3 South Africa
- 8.6.3.1 South Africa Virtual Reality in Retail Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 9 Virtual Reality in Retail Market - Competitive Landscape
- 9.1 Key Market Participants
- 9.1.1 Visualise Creative Ltd.
- 9.1.2 VREI
- 9.1.3 Panedia Pty Ltd
- 9.1.4 Fieback Medien
- 9.1.5 FireBirdVR
- 9.1.6 FXGear Inc.
- 9.1.7 Koncept VR
- 9.1.8 Matterport, Inc.
- 9.1.9 Subvrsive, Inc.
- 9.1.10 VIAR
- 9.1.11 WeMakeVR
- 9.1.12 Scapic Innovations Pvt. Ltd.
- 9.2 Recent Development & Impact Analysis, By Key Market Participants
- 9.3 Company Categorization
- 9.4 Participant's Overview
- 9.5 Financial Performance
- 9.6 Product Benchmarking
- 9.7 Company Heat Map Analysis
- 9.8 Key Company Market Share Analysis, 2022
- 9.9 Strategy Mapping
- 9.9.1 Partnership
- 9.9.2 Merger & Acquisition
- 9.9.3 New Product/Feature Launch
- 9.9.4 Certifications
- 9.9.5 Expansion
Product Code: GVR-4-68040-086-7
List of Tables
- Table 1 Key market driver impact
- Table 2 Key market restraint impact
- Table 3 Global virtual reality in retail market revenue estimates and forecast, by component, 2018 - 2030 (USD Million)
- Table 4 Global virtual reality in retail market revenue estimates and forecast, by device, 2018 - 2030 (USD Million)
- Table 5 Global virtual reality in retail market revenue estimates and forecast, by application, 2018 - 2030 (USD Million)
- Table 6 Global virtual reality in retail market revenue estimates and forecast, by vertical, 2018 - 2030 (USD Million)
- Table 7 Company heat map analysis
- Table 8 Key companies undergoing partnerships
- Table 9 Key companies involved in merger & acquisition
- Table 10 Key companies involved in new product launch
List of Figures
- Fig. 1 Virtual reality in retail market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot
- Fig. 8 Industry snapshot
- Fig. 9 Virtual Reality market value, 2022 (USD Million)
- Fig. 10 Value chain analysis
- Fig. 11 Market dynamics
- Fig. 12 Virtual reality in retail market: Porter's analysis
- Fig. 13 Virtual reality in retail market: PESTEL analysis
- Fig. 14 Virtual reality in retail market, by component, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 15 Virtual reality in retail market, by component: market share, 2022 & 2030
- Fig. 16 Hardware market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Software market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Services market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Virtual reality in retail market, by device, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 20 Virtual reality in retail market, by device: market share, 2022 & 2030
- Fig. 21 Head mounted devices market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 22 Gesture tracking devices market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Projectors & display wall market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Virtual reality in retail market, by application, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 25 Virtual reality in retail market, by application: market share, 2022 & 2030
- Fig. 26 Information systems market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 27 Advertising & marketing market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 28 Try-on solutions market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Planning & designing electronics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Virtual reality in retail market, by vertical, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 31 Virtual reality in retail market, by vertical: market share, 2022 & 2030
- Fig. 32 Food & beverage market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Home products market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 34 Clothing market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 35 Consumer electronics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 36 Virtual reality in retail market by region, 2022 & 2030, Revenue (USD Million)
- Fig. 37 Regional marketplace: Key takeaways
- Fig. 38 North America virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 39 U.S. virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 40 Canada virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 41 Mexico virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 42 Europe virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 43 Germany virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 44 U.K. virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 45 France virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 46 Italy virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 47 Asia Pacific virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 48 China virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 49 Japan virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 50 India virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 51 South Korea virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 52 South America virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 53 Brazil virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 54 Argentina virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 55 MEA virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 56 South Africa virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 57 Saudi Arabia virtual reality in retail market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 58 Key company categorization
- Fig. 59 Key company market share analysis, 2022
- Fig. 60 Strategy framework
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