Metaverse in E-commerce Market Dynamics:
The swift rise in the e-commerce industry’s popularity is fueling a corresponding surge in demand for the Metaverse in E-commerce. Various approaches within the metaverse have emerged to connect with customers in the dynamic e-commerce landscape. The market’s momentum is propelled by the convenience it offers consumers, providing them with the confidence to assess product quality thoroughly before making a purchase. This immersive experience allows users to virtually interact with products, fostering a novel way of evaluating their attributes.
Virtual purchasing experiences are gaining traction among consumers, particularly for items like clothing and accessories. The metaverse serves as a fresh avenue for brands to showcase and sell such products. However, a notable limitation is the inability for customers to physically try out products, a factor that shapes the evolving landscape of virtual commerce.
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Metaverse in E-commerce Market Report Scope and Research Methodology:
In 2022, the Global Metaverse in E-commerce Market was valued at a substantial USD 18.30 billion. Anticipated growth is on the horizon, with the total revenue expected to surge by an impressive 37.20% from 2023 to 2029, ultimately reaching a staggering USD 167.47 billion.
The Metaverse, an amalgamation of cutting-edge technologies such as AR, VR, blockchain, and more, serves as a virtual realm where users can engage in activities like gaming, shopping, and socializing, all free from the constraints of physical barriers. The primary objective of integrating the metaverse into E-commerce is to deliver an unparalleled shopping experience. The industry’s demand hinges on various factors, including advancements in AR and VR technology and the overall expansion of the e-commerce sector.
Notably, the AR and VR technology segment took center stage in the market in 2022, asserting its dominance. Key market players like Epic Games Inc, Amazon.com, Unity Technologies Inc., Tencent Holdings Limited, among others, are spearheading the market’s evolution through continuous technological innovation. This innovative drive is contributing significantly to the escalating demand for the Metaverse in the E-commerce Market.
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Metaverse in E-commerce Market Segmentation
by Platform
Computer
Mobile
Headset
by Technology
AR & VR
Blockchain
Mixed Reality
Others
by Application
Virtual Stores
Virtual Events
Virtual Product Discovery
Virtual Customer Service
Virtual Payments
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Metaverse in E-commerce Market Key Players include:
1. Epic Games Inc. [North Carolina, United States]
2. Amazon.com Inc.
3. Unity Technologies Inc. [San Francisco, United States]
4. Tencent Holdings Limited
5. Alibaba Group Holding Ltd.
6. Autodesk Inc.
7. Roblox Corp.
8. Matterport Inc.
9. Dealskart Online Services Pvt. Ltd.
10. Globant SA
11. Kestone CL US Ltd.
12. Block Inc.
13. Magic Leap Inc.
14. Meta Platforms Inc.
15. Microsoft Corp.
16. NVIDIA Corp.
17. Queppelin
Metaverse in E-commerce Market Regional Insights
North America (United States, Canada, and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
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