Virtual Reality Shopping Market to Soar, Projected to Reach $205.03 Billion by 2028

The Business Research Company’s Virtual Reality Shopping Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The virtual reality shopping market size has grown exponentially in recent years. It will grow from $57.53 billion in 2023 to $74.56 billion in 2024 at a compound annual growth rate (CAGR) of 29.6%. Despite challenges, the market is anticipated to reach $205.03 billion by 2028, driven by the integration of mobile VR experiences, social VR shopping, and AI-powered personalization.

Rising E-Commerce Industry Propels Market Growth
The rising e-commerce industry is expected to propel the growth of the virtual reality shopping market going forward. The e-commerce industry encompasses a wide range of online retail and digital transactions. Virtual reality shopping enhances the e-commerce experience by immersing customers in virtual stores, allowing them to explore products and make informed decisions from the comfort of their homes. For instance, according to the U.S. Department of Commerce, U.S. retail e-commerce sales for the second quarter of 2023 reached $269.5 billion, a 6.6% increase from the first quarter of 2023, and a 7.7% increase compared to the same quarter in 2022. Therefore, the rising e-commerce industry is driving the growth of the virtual reality shopping market.

Explore comprehensive insights into the global virtual reality shopping market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=13557&type=smp

Major Players and Strategic Partnerships
Major companies operating in the virtual reality shopping market include Amazon Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, JD.com Inc., and Alibaba Group Holding Limited. These companies focus on strategic partnerships to enhance their capabilities and competitiveness. For instance, in February 2023, Alo LLC partnered with Obsess Inc. to launch a virtual reality shopping experience. The virtual store, accessible via desktop, mobile, or the Meta Quest 2 VR headset, includes beauty and wellness tutorials, allowing visitors to learn and shop Alo's collections.

Key Trends in the Market
The forecast period is expected to see significant trends in the virtual reality shopping market, including:
• Technology advancements
• Social VR shopping
• Personalization and AI-driven recommendations
• Virtual fitting rooms
• Integration with e-commerce platforms

Segments:
• Device: Gesture-Tracking Device (GTD), Head-Mounted Display (HMD), Projectors And Display Wall (PDW)
• Technology: Semi And Fully Immersive, Non-Immersive
• Component: Hardware, Software
• Application: Aerospace And Defense, Commercial, Healthcare, Enterprise, Other Applications

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the virtual reality shopping market in 2023. The regions covered in the virtual reality shopping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Access the complete report for an in-depth analysis of the global virtual reality shopping market: https://www.thebusinessresearchcompany.com/report/virtual-reality-shopping-global-market-report

Virtual Reality Shopping Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Virtual Reality Shopping Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on virtual reality shopping market size, virtual reality shopping market drivers and trends, virtual reality shopping market major players, competitors' revenues, market positioning, and market growth across geographies. The virtual reality shopping market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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