PUBLISHER: Grand View Research | PRODUCT CODE: 1433571
PUBLISHER: Grand View Research | PRODUCT CODE: 1433571
The global metaverse in the e-commerce market size is anticipated to reach USD 106.13 billion by 2030 and it is projected to grow at a CAGR of 40.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The integration of artificial intelligence (AI) and machine learning (ML) technologies drives the metaverse in e-commerce. AI-powered virtual assistants and chatbots within the metaverse enhance the customer service experience, providing personalized recommendations and guiding users through their virtual shopping. The use of AI in the metaverse contributes to the overall efficiency of e-commerce interactions, streamlining processes and improving user satisfaction.
The trend toward social commerce also drives the metaverse in e-commerce. With the integration of social features in virtual environments, users can share their shopping experiences and recommendations and even make joint purchasing decisions in real-time. Social interactions within the metaverse amplify the communal aspects of shopping, transforming it into a shared and collaborative experience. This social dimension enhances user engagement, drives brand awareness, and cultivates a sense of community among online shoppers.
The drive for enhanced digital inclusion and accessibility drives the integration of the metaverse into the e-commerce market. The metaverse breaks down barriers and creates a more inclusive online shopping environment. By offering diverse and customizable experiences within virtual spaces, businesses can cater to a broader audience, including individuals with varying abilities or those facing geographical constraints. This emphasis on inclusivity aligns with the broader trend toward creating accessible and user-friendly digital experiences, ensuring that the benefits of the metaverse are accessible to a diverse global population.