Metaverse in E-Commerce Market Size Is Anticipated To Reach USD 106.13 Billion By 2030

Posted by Neha Bora on March 21st, 2024

San Francisco, 21 March 2024: The Report Metaverse In E-commerce Market Size, Share & Trends Analysis Report By Platform (Desktop, Mobile/Tablets, AR/VR Headset), By Technology, By Application, By Region, And Segment Forecasts, 2024 - 2030

The global metaverse in the e-commerce market size is anticipated to reach USD 106.13 billion by 2030 and it is projected to grow at a CAGR of 40.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The integration of artificial intelligence (AI) and machine learning (ML) technologies drives the metaverse in e-commerce. AI-powered virtual assistants and chatbots within the metaverse enhance the customer service experience, providing personalized recommendations and guiding users through their virtual shopping. The use of AI in the metaverse contributes to the overall efficiency of e-commerce interactions, streamlining processes and improving user satisfaction.

The trend toward social commerce also drives the metaverse in e-commerce. With the integration of social features in virtual environments, users can share their shopping experiences and recommendations and even make joint purchasing decisions in real-time. Social interactions within the metaverse amplify the communal aspects of shopping, transforming it into a shared and collaborative experience. This social dimension enhances user engagement, drives brand awareness, and cultivates a sense of community among online shoppers.

The drive for enhanced digital inclusion and accessibility drives the integration of the metaverse into the e-commerce market. The metaverse breaks down barriers and creates a more inclusive online shopping environment. By offering diverse and customizable experiences within virtual spaces, businesses can cater to a broader audience, including individuals with varying abilities or those facing geographical constraints. This emphasis on inclusivity aligns with the broader trend toward creating accessible and user-friendly digital experiences, ensuring that the benefits of the metaverse are accessible to a diverse global population.

Access Research Report of Metaverse in E-Commerce Market @ https://www.grandviewresearch.com/industry-analysis/metaverse-e-commerce-market-report

Metaverse In E-commerce Market Report Highlights

• Based on platform, AR/ VR headset segment led the market in 2023 with a largest revenue share of 41.8%. The affordability and increasing availability of AR/VR headsets drive the metaverse's integration into e-commerce. As the cost of AR/VR hardware decreases and more manufacturers enter the market, these headsets become more accessible to a broader range of consumers.
• Based on technology, Virtual reality (VR) & augmented reality (AR) segment led the market in 2023 with a largest revenue share of 35.8%. The demand for personalized and interactive product exploration is adrives VR and AR segment growth. These technologies enable businesses to offer users personalized virtual storefronts where they can explore products in detail and customize their virtual shopping.
• Based on application, Virtual events segment led the market in 2023 with the largest market share of 77.4%. The global reach and accessibility drive the virtual events segment growth. As virtual events within the metaverse can be attended from anywhere with an internet connection, businesses can extend their reach to a global audience.
• North America led the market in 2023 with the largest share of 33.1% in global revenue.In North America, the adoption of the metaverse in e-commerce is fueled by the region's tech-savvy consumer base and the continuous evolution of digital platforms. Companies are strategically investing in metaverse technologies to create virtual storefronts, enabling customers to explore products in a three-dimensional space and even try them virtually before making a purchase.

Metaverse in E-commerce Market Report Scope

List of Key Players in the Metaverse In E-commerce Market

• com Inc.
• Alibaba Group
• Meta Platform, Inc.
• Tencent Holdings Ltd.
• Nvidia Corporation
• Epic Games, Inc.
• Roblox Corporation
• Unity Technologies, Inc.
• Nextech AR Solutions Corp.
• The Sandbox
• Decentraland
• Microsoft Corporation
• Antier Solutions Pvt. Ltd.
• Innowise Group
• Aetsoft Inc.

Access Press Release of Metaverse in E-Commerce Market @ https://www.grandviewresearch.com/press-release/global-metaverse-e-commerce-market