Virtual Reality in Retail Market Synopsis
The data experts at Market Research Future Reports (MRFR) have thoroughly evaluated the global virtual reality in the retail market. As per the study, the enlarging e-commerce sector and promotion for an efficient brand promotion experience are projected to steer the global virtual reality in retail market 2020. Further, the robust globalization and digitalization with the developing markets are the most significant factor leading to driving the market. Besides, 3D and social media associated with the brands and consumers is enhancing market growth. Moreover, the integration of 5G with V.R. is projected to present various opportunities. Further, the retailers are capitalizing the software solution, which functions efficiently with hardware and is propelling the VR in Retail Industry.
Most of the individuals are living in isolation due to the spread of pandemic, coronavirus. The COVID-19 has turned the global economy upside down. However, while the observation of lockdown, technologies such as AR/VR/MR gained momentum. The COVID-19 has offered an opportunity of expansion since every individual is relying on A.R., and V.R. to socialize. Since people cannot come out to buy luxuries, brands and retailers such as L’Oréal, Suitsupply, and Kendra Scott have introduced V.R. tools to increase sales.
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Virtual Reality in Retail Market Key Players
- Google (US)
- Magic Leap (US)
- Marxent Labs LLC (US)
- Microsoft (US)
- Oculus VR (US)
- WorldViz (US)
- Firsthand Technology Inc. (US)
- HTC Corporation (Taiwan)
- Unity Technologies (US)
- Wevr (US)
Virtual Reality in Retail Market Segmentation
Virtual reality in retail market is segmented into four broad categories. They are by type, by hardware, by software, and by application. Here is a list of the virtual reality in retail market segments along with their sub-segments.
By Type,
- Telepresence
- Window on World
- Mixed Reality
- Immersive System
By Hardware,
- Glasses
- Headsets
- Gloves
- Devices
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By Software type,
- Consoles
- Tablets
- Smartphones
- Others
By Application,
- Commercial
- Enterprise
- Aerospace
- Defense
- Consumer
- Healthcare
- Real Estate
- Automotive
Virtual Reality in Retail Market Regional Analysis
The global virtual reality in the retail market is projected to grow significantly during the review period. Regions such as Asia Pacific, North America, Europe and Rest of the World (RoW) have been analyzed. According to the analysis, the worldwide market is anticipated to be reigned by North America. The most crucial factor leading to regional expansion is the presence of renowned retail manufacturers in the region. On the other hand, the APAC region is projected to be the fastest-growing region during the assessment period. The region is encountering expansion in e-commerce which is anticipated to play a crucial role in strengthening the market. Besides, the development of infrastructure is multiplying at a fast rate. The emerging nations like India and China are projected to be a conducive environment for strengthening the market.
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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
Continued…
3 MARKET DYNAMICS
Continued…
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