The Latin America, Middle East and Africa Virtual Reality In Retail Market would witness market growth of 30.2% CAGR during the forecast period (2023-2030).
Customers can view an item virtually as if they were actually holding it in the store. Customers may easily customize the products according to their tastes and preferences as VR can view the changes in real-time. For instance, imagine holding an outfit in hand while the color, graphics, and other aspects of the product change. Users can purchase what they want with VR shopping. Businesses are reinventing themselves via technological blends to engage customers in new ways. Online shopping for groceries and perusing e-commerce sites are already commonplace.
Much like the internet did, augmented reality (AR) and virtual reality (VR) are poised to dramatically revolutionize the retail experience and the industry. The usage of virtual reality (VR) in retail goes beyond just having it in-store; it may be applied to research projects even before the general public is involved. Virtual reality can develop distinctive brand experiences in retail that increase conversions, return visits, and sales. It's quite likely that customers will adjust to the advent of VR in retail if retailers give them a novel technology experience that may enhance their shopping and product-searching habits.
In Saudi Arabia, e-commerce is well-positioned for future expansion. According to predictions, 33.6 million Saudis will use the Internet for e-commerce (buying and selling) by 2024, up 42% from 2019. Saudi Arabia has one of the highest smartphone penetration rates (97%) in the world, more mobile broadband internet subscribers than the majority of developed markets, the tenth-fastest internet fastest in the world and has a relatively high percentage of adults (15+) who maintain a bank account (72%). Virtual reality in the retail market is expected to drive due to the expansion of e-commerce as a result of rising prevalence of VR applications in online shopping.
The Brazil market dominated the LAMEA 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 $381 million by 2030. The Argentina market is anticipated to grow at a CAGR of 30.9% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 29.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 3 LAMEA Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 4 LAMEA Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 5 LAMEA Advertising & Marketing Market by Country, 2019 - 2022, USD Million
TABLE 6 LAMEA Advertising & Marketing Market by Country, 2023 - 2030, USD Million
TABLE 7 LAMEA Try-on Solutions Market by Country, 2019 - 2022, USD Million
TABLE 8 LAMEA Try-on Solutions Market by Country, 2023 - 2030, USD Million
TABLE 9 LAMEA Planning & Designing Market by Country, 2019 - 2022, USD Million
TABLE 10 LAMEA Planning & Designing Market by Country, 2023 - 2030, USD Million
TABLE 11 LAMEA Information Systems Market by Country, 2019 - 2022, USD Million
TABLE 12 LAMEA Information Systems Market by Country, 2023 - 2030, USD Million
TABLE 13 LAMEA Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 14 LAMEA Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 15 LAMEA Hardware Market by Country, 2019 - 2022, USD Million
TABLE 16 LAMEA Hardware Market by Country, 2023 - 2030, USD Million
TABLE 17 LAMEA Software Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Software Market by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA Services Market by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA Services Market by Country, 2023 - 2030, USD Million
TABLE 21 LAMEA Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 22 LAMEA Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 23 LAMEA Head Mounted Devices Market by Country, 2019 - 2022, USD Million
TABLE 24 LAMEA Head Mounted Devices Market by Country, 2023 - 2030, USD Million
TABLE 25 LAMEA Gesture Tracking Device Market by Country, 2019 - 2022, USD Million
TABLE 26 LAMEA Gesture Tracking Device Market by Country, 2023 - 2030, USD Million
TABLE 27 LAMEA Projectors & Display Wall Market by Country, 2019 - 2022, USD Million
TABLE 28 LAMEA Projectors & Display Wall Market by Country, 2023 - 2030, USD Million
TABLE 29 LAMEA Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 30 LAMEA Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 31 LAMEA Clothing Market by Country, 2019 - 2022, USD Million
TABLE 32 LAMEA Clothing Market by Country, 2023 - 2030, USD Million
TABLE 33 LAMEA Consumer Electronics Market by Country, 2019 - 2022, USD Million
TABLE 34 LAMEA Consumer Electronics Market by Country, 2023 - 2030, USD Million
TABLE 35 LAMEA Food & Beverages Market by Country, 2019 - 2022, USD Million
TABLE 36 LAMEA Food & Beverages Market by Country, 2023 - 2030, USD Million
TABLE 37 LAMEA Home Products Market by Country, 2019 - 2022, USD Million
TABLE 38 LAMEA Home Products Market by Country, 2023 - 2030, USD Million
TABLE 39 LAMEA Virtual Reality In Retail Market by Country, 2019 - 2022, USD Million
TABLE 40 LAMEA Virtual Reality In Retail Market by Country, 2023 - 2030, USD Million
TABLE 41 Brazil Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 42 Brazil Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 43 Brazil Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 44 Brazil Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 45 Brazil Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 46 Brazil Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 47 Brazil Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 48 Brazil Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 49 Brazil Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 50 Brazil Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 51 Argentina Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 52 Argentina Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 53 Argentina Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 54 Argentina Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 55 Argentina Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 56 Argentina Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 57 Argentina Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 58 Argentina Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 59 Argentina Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 60 Argentina Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 61 UAE Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 62 UAE Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 63 UAE Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 64 UAE Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 65 UAE Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 66 UAE Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 67 UAE Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 68 UAE Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 69 UAE Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 70 UAE Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 71 Saudi Arabia Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 72 Saudi Arabia Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 73 Saudi Arabia Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 74 Saudi Arabia Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 75 Saudi Arabia Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 76 Saudi Arabia Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 77 Saudi Arabia Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 78 Saudi Arabia Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 79 Saudi Arabia Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 80 Saudi Arabia Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 81 South Africa Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 82 South Africa Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 83 South Africa Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 84 South Africa Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 85 South Africa Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 86 South Africa Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 87 South Africa Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 88 South Africa Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 89 South Africa Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 90 South Africa Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 91 Nigeria Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 92 Nigeria Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 93 Nigeria Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 94 Nigeria Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 95 Nigeria Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 96 Nigeria Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 97 Nigeria Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 98 Nigeria Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 99 Nigeria Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 100 Nigeria Virtual Reality In Retail Market by Vertical, 2023 - 2030, USD Million
TABLE 101 Rest of LAMEA Virtual Reality In Retail Market, 2019 - 2022, USD Million
TABLE 102 Rest of LAMEA Virtual Reality In Retail Market, 2023 - 2030, USD Million
TABLE 103 Rest of LAMEA Virtual Reality In Retail Market by Application, 2019 - 2022, USD Million
TABLE 104 Rest of LAMEA Virtual Reality In Retail Market by Application, 2023 - 2030, USD Million
TABLE 105 Rest of LAMEA Virtual Reality In Retail Market by Component, 2019 - 2022, USD Million
TABLE 106 Rest of LAMEA Virtual Reality In Retail Market by Component, 2023 - 2030, USD Million
TABLE 107 Rest of LAMEA Virtual Reality In Retail Market by Device, 2019 - 2022, USD Million
TABLE 108 Rest of LAMEA Virtual Reality In Retail Market by Device, 2023 - 2030, USD Million
TABLE 109 Rest of LAMEA Virtual Reality In Retail Market by Vertical, 2019 - 2022, USD Million
TABLE 110 Rest of LAMEA 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 LAMEA Virtual Reality In Retail Market share by Application, 2022
FIG 3 LAMEA Virtual Reality In Retail Market share by Application, 2030
FIG 4 LAMEA Virtual Reality In Retail Market by Application, 2019 - 2030, USD Million
FIG 5 LAMEA Virtual Reality In Retail Market share by Component, 2022
FIG 6 LAMEA Virtual Reality In Retail Market share by Component, 2030
FIG 7 LAMEA Virtual Reality In Retail Market by Component, 2019 - 2030, USD Million
FIG 8 LAMEA Virtual Reality In Retail Market share by Device, 2022
FIG 9 LAMEA Virtual Reality In Retail Market share by Device, 2030
FIG 10 LAMEA Virtual Reality In Retail Market by Device, 2019 - 2030, USD Million
FIG 11 LAMEA Virtual Reality In Retail Market share by Vertical, 2022
FIG 12 LAMEA Virtual Reality In Retail Market share by Vertical, 2030
FIG 13 LAMEA Virtual Reality In Retail Market by Vertical, 2019 - 2030, USD Million
FIG 14 LAMEA Virtual Reality In Retail Market share by Country, 2022
FIG 15 LAMEA Virtual Reality In Retail Market share by Country, 2030
FIG 16 LAMEA Virtual Reality In Retail Market by Country, 2019 - 2030, USD Million