The Asia Pacific Virtual Reality In Retail Market would witness market growth of 27.8% CAGR during the forecast period (2023-2030).
Physical or geographical barriers like border controls, natural disasters, local problems, or time constraints do not affect the market which is the major factor driving growth. There is a lot of new hire training involved with working in retail. This approach can result in expensive errors while the individual is still learning the ropes. The onboarding process can be accelerated by simulating real-world situations in virtual reality. VR training accomplishes tasks more quickly and comprehensively, from packaging to utilizing new software at the counter. Virtual reality is just as real in retail learning as a teacher reviewing the content. Also, it lowers the cost of trainers traveling throughout the country or the world to hold extensive training sessions at stores. This is also anticipated to promote the growth of the market.
Virtual reality in retail boosts consumer interaction, personalizes shopping, enhances marketing initiatives, trains staff, and conducts consumer research. Customers can explore the store virtually, and try on outfits, makeup, and other items from the comfort of their homes. Nowadays, retail businesses have reached consumers’ home by the help of VR technologies. Users can spend more time browsing and connecting with the brand because they don't have to leave their current location or relocate physically.
The National Investment Promotion & Facility Agency of India predicts that due to sociodemographic and economic variables like urbanization, income growth, and a rise in nuclear families, the Indian retail industry will reach $2 trillion by 2032. In India during the first half of 2021, e-commerce accounted for about a third of sales in several electrical categories, nearly half of all smartphone sales, and roughly a fifth of all apparel sales. Consumer internet and e-commerce companies produced US$38 billion in 2021, up from US$8 billion in 2020, as large-scale investments are made in the fintech, hyperlocal, and e-commerce industries, and the Indian start-up ecosystem continues to grow. As a result, the Asia-Pacific region would see an increase in the market.
The China market dominated the Asia Pacific Virtual Reality In Retail Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,589.4 million by 2030. The Japan market is exhibiting a CAGR of 27% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 28.6% during (2023 - 2030).
Based on Application, the market is segmented into Advertising & Marketing, Try-on Solutions, Planning & Designing and Information Systems. Based on Component, the market is segmented into Hardware, Software and Services. Based on Device, the market is segmented into Head Mounted Devices, Gesture Tracking Device and Projectors & Display Wall. Based on Vertical, the market is segmented into Clothing, Consumer Electronics, Food & Beverages and Home Products. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Virtual Reality In Retail Market is Projected to reach USD 20.4 Billion by 2030, at a CAGR of 26.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Matterport, Inc., Scapic Innovations Private Limited (Flipkart Pvt. Ltd,) (Walmart Inc.), FXGear, Inc., Visualise Creative Limited, Panedia Pty Ltd., FireBird VR, KonceptVR LLC, WeMakeVR, Fiebak Medien, and Subvrsive, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Advertising & Marketing
- Try-on Solutions
- Planning & Designing
- Information Systems
By Component
- Hardware
- Software
- Services
By Device
- Head Mounted Devices
- Gesture Tracking Device
- Projectors & Display Wall
By Vertical
- Clothing
- Consumer Electronics
- Food & Beverages
- Home Products
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Matterport, Inc.
- Scapic Innovations Private Limited (Flipkart Pvt. Ltd,) (Walmart Inc.)
- FXGear, Inc.
- Visualise Creative Limited
- Panedia Pty Ltd.
- FireBird VR
- KonceptVR LLC
- WeMakeVR
- Fiebak Medien
- Subvrsive, Inc.
TABLE 1 Asia Pacific Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 2 Asia Pacific Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 3 Asia Pacific Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 4 Asia Pacific Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 5 Asia Pacific Advertising & Marketing Market by Country, 2019 - 2022, USD Million
TABLE 6 Asia Pacific Advertising & Marketing Market by Country, 2023 - 2030, USD Million
TABLE 7 Asia Pacific Try-on Solutions Market by Country, 2019 - 2022, USD Million
TABLE 8 Asia Pacific Try-on Solutions Market by Country, 2023 - 2030, USD Million
TABLE 9 Asia Pacific Planning & Designing Market by Country, 2019 - 2022, USD Million
TABLE 10 Asia Pacific Planning & Designing Market by Country, 2023 - 2030, USD Million
TABLE 11 Asia Pacific Information Systems Market by Country, 2019 - 2022, USD Million
TABLE 12 Asia Pacific Information Systems Market by Country, 2023 - 2030, USD Million
TABLE 13 Asia Pacific Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 14 Asia Pacific Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 15 Asia Pacific Hardware Market by Country, 2019 - 2022, USD Million
TABLE 16 Asia Pacific Hardware Market by Country, 2023 - 2030, USD Million
TABLE 17 Asia Pacific Software Market by Country, 2019 - 2022, USD Million
TABLE 18 Asia Pacific Software Market by Country, 2023 - 2030, USD Million
TABLE 19 Asia Pacific Services Market by Country, 2019 - 2022, USD Million
TABLE 20 Asia Pacific Services Market by Country, 2023 - 2030, USD Million
TABLE 21 Asia Pacific Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 22 Asia Pacific Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 23 Asia Pacific Head Mounted Devices Market by Country, 2019 - 2022, USD Million
TABLE 24 Asia Pacific Head Mounted Devices Market by Country, 2023 - 2030, USD Million
TABLE 25 Asia Pacific Gesture Tracking Device Market by Country, 2019 - 2022, USD Million
TABLE 26 Asia Pacific Gesture Tracking Device Market by Country, 2023 - 2030, USD Million
TABLE 27 Asia Pacific Projectors & Display Wall Market by Country, 2019 - 2022, USD Million
TABLE 28 Asia Pacific Projectors & Display Wall Market by Country, 2023 - 2030, USD Million
TABLE 29 Asia Pacific Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 30 Asia Pacific Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 31 Asia Pacific Clothing Market by Country, 2019 - 2022, USD Million
TABLE 32 Asia Pacific Clothing Market by Country, 2023 - 2030, USD Million
TABLE 33 Asia Pacific Consumer Electronics Market by Country, 2019 - 2022, USD Million
TABLE 34 Asia Pacific Consumer Electronics Market by Country, 2023 - 2030, USD Million
TABLE 35 Asia Pacific Food & Beverages Market by Country, 2019 - 2022, USD Million
TABLE 36 Asia Pacific Food & Beverages Market by Country, 2023 - 2030, USD Million
TABLE 37 Asia Pacific Home Products Market by Country, 2019 - 2022, USD Million
TABLE 38 Asia Pacific Home Products Market by Country, 2023 - 2030, USD Million
TABLE 39 Asia Pacific Virtual Reality In Retail Market by Country, 2019 - 2022, USD Million
TABLE 40 Asia Pacific Virtual Reality In Retail Market by Country, 2023 - 2030, USD Million
TABLE 41 China Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 42 China Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 43 China Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 44 China Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 45 China Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 46 China Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 47 China Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 48 China Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 49 China Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 50 China Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 51 Japan Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 52 Japan Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 53 Japan Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 54 Japan Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 55 Japan Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 56 Japan Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 57 Japan Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 58 Japan Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 59 Japan Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 60 Japan Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 61 India Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 62 India Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 63 India Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 64 India Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 65 India Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 66 India Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 67 India Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 68 India Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 69 India Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 70 India Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 71 South Korea Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 72 South Korea Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 73 South Korea Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 74 South Korea Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 75 South Korea Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 76 South Korea Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 77 South Korea Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 78 South Korea Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 79 South Korea Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 80 South Korea Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 81 Singapore Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 82 Singapore Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 83 Singapore Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 84 Singapore Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 85 Singapore Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 86 Singapore Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 87 Singapore Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 88 Singapore Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 89 Singapore Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 90 Singapore Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 91 Malaysia Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 92 Malaysia Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 93 Malaysia Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 94 Malaysia Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 95 Malaysia Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 96 Malaysia Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 97 Malaysia Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 98 Malaysia Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 99 Malaysia Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 100 Malaysia Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 101 Rest of Asia Pacific Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 102 Rest of Asia Pacific Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 103 Rest of Asia Pacific Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 104 Rest of Asia Pacific Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 105 Rest of Asia Pacific Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 106 Rest of Asia Pacific Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 107 Rest of Asia Pacific Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 108 Rest of Asia Pacific Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 109 Rest of Asia Pacific Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 110 Rest of Asia Pacific Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 111 Key Information – Matterport, Inc.
TABLE 112 Key Information – Scapic Innovations Private Limited
TABLE 113 Key Information –FXGear, Inc.
TABLE 114 Key Information – Visualise Creative Limited
TABLE 115 Key Information –Panedia Pty Ltd.
TABLE 116 Key Information –FireBird VR
TABLE 117 Key Information – KonceptVR LLC
TABLE 118 Key Information – WeMakeVR.
TABLE 119 Key Information – Fiebak Medien
TABLE 120 Key Information – Subvrsive, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Virtual Reality In Retail Market share by Application, 2022
FIG 3 Asia Pacific Virtual Reality In Retail Market share by Application, 2030
FIG 4 Asia Pacific Virtual Reality In Retail Market by Application, 2019 - 2030, USD Million
FIG 5 Asia Pacific Virtual Reality In Retail Market share by Component, 2022
FIG 6 Asia Pacific Virtual Reality In Retail Market share by Component, 2030
FIG 7 Asia Pacific Virtual Reality In Retail Market by Component, 2019 - 2030, USD Million
FIG 8 Asia Pacific Virtual Reality In Retail Market share by Device, 2022
FIG 9 Asia Pacific Virtual Reality In Retail Market share by Device, 2030
FIG 10 Asia Pacific Virtual Reality In Retail Market by Device, 2019 - 2030, USD Million
FIG 11 Asia Pacific Virtual Reality In Retail Market share by Vertical, 2022
FIG 12 Asia Pacific Virtual Reality In Retail Market share by Vertical, 2030
FIG 13 Asia Pacific Virtual Reality In Retail Market by Vertical, 2019 - 2030, USD Million
FIG 14 Asia Pacific Virtual Reality In Retail Market share by Country, 2022
FIG 15 Asia Pacific Virtual Reality In Retail Market share by Country, 2030
FIG 16 Asia Pacific Virtual Reality In Retail Market by Country, 2019 - 2030, USD Million