Dublin, Jan. 31, 2025 (GLOBE NEWSWIRE) — The “Virtual Reality in Retail – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Virtual Reality in Retail was valued at US$5.7 Billion in 2024 and is projected to reach US$24.1 Billion by 2030, growing at a CAGR of 27.0% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the VR in retail market is driven by several factors, including advancements in VR hardware and software, changing consumer behaviors, and the increasing focus on experiential shopping. One of the primary drivers is the rising demand for personalization in retail. VR enables highly tailored experiences, from virtual try-ons to customized store layouts, aligning with consumer preferences and boosting purchase confidence. Additionally, the growing popularity of online shopping and the need to address its limitations, such as lack of physical interaction, have made VR an essential tool for bridging the gap between digital and physical retail.
The expanding applications of VR in diverse retail sectors, including fashion, home decor, and automotive, are also contributing to market growth. Furniture retailers, for example, use VR to allow customers to visualize products in their living spaces, while car dealerships leverage VR for virtual test drives and vehicle customization. The development of cost-effective VR devices and platforms is making the technology accessible to small and medium-sized retailers, broadening its adoption. Furthermore, the increasing investments in AR/VR technologies by retail giants and the integration of VR with AI and analytics platforms are enhancing the capabilities and effectiveness of VR applications. These factors collectively underscore the transformative role of VR in reshaping the future of retail.
Scope of the Study
The report analyzes the Virtual Reality in Retail market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments
Component (Hardware Component, Software Component, Services Component); Device Type (Head Mounted Devices, Gesture Tracking Devices, Other Devices Types); End-Use (Clothing End-Use, Food & Beverages End-Use, Other End-Uses).
Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the VR in Retail Hardware segment, which is expected to reach US$11.8 Billion by 2030 with a CAGR of a 24.9%. The VR in Retail Software segment is also set to grow at 30.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $1.5 Billion in 2024, and China, forecasted to grow at an impressive 25.7% CAGR to reach $3.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Fieback Medien, FXGear, Inc., Koncept VR, Matterport, Inc., Panedia Pty Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Virtual Reality in Retail Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 22 companies featured in this Virtual Reality in Retail market report include:
- Fieback Medien
- FXGear, Inc.
- Koncept VR
- Matterport, Inc.
- Panedia Pty Ltd.
- Subvrsive, Inc.
- Viar360
- Visualise Creative Limited (VCL)
- VREOS E.U. (VREI)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 154 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $5.7 Billion |
| Forecasted Market Value (USD) by 2030 | $24.1 Billion |
| Compound Annual Growth Rate | 27% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Economic Frontiers: Trends, Trials & Transformations
- Virtual Reality in Retail – Global Key Competitors Percentage Market Share in 2024
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024
MARKET TRENDS & DRIVERS
- Rising Focus on Enhancing Customer Experience Drives VR Adoption in Retail
- Advancements in Immersive Technologies Propel Innovation in VR Applications for Retail
- Growth in E-Commerce Fuels Demand for Virtual Try-On and Shopping Experiences
- Integration with AI Enhances Personalization in VR Retail Solutions
- Focus on Gamification in Retail Boosts Adoption of Virtual Reality Platforms
- Emergence of Virtual Showrooms Expands Applications for VR in Retail
- Advancements in VR Hardware and Software Improve Accessibility for Retailers
- Focus on Reducing Product Returns Drives Adoption of VR in Online Shopping
- Increased Use of Virtual Reality in Brand Storytelling Fuels Innovation in Marketing Strategies
- Growth in Hybrid Retail Models Highlights Opportunities for VR Integration
- Focus on Sustainability Trends Encourages Development of Virtual Retail Experiences
- Advancements in Mobile VR Solutions Expand Accessibility for Smaller Retailers
- Integration with Social Media Platforms Enhances VR Marketing Campaigns
- Emergence of 5G Networks Boosts Performance and Scalability of VR in Retail Applications
For more information about this report visit https://www.researchandmarkets.com/r/1b7mau
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- Virtual Reality in Retail Market
