From GlobeNewswire: 2025-04-02 09:30:00

The Virtual Reality in Retail Market was valued at USD 3.33 Billion in 2023 and is projected to reach USD 26.28 Billion by 2032, growing at a CAGR of 26.2%. Virtual Reality is revolutionizing retail with immersive showrooms, AI-driven assistants, and interactive product visualization, enhancing the shopping experience. Major retailers are investing in VR to bridge the gap between online and in-store shopping, driven by rising demand for interactive shopping experiences, AI integration, and advancements in 5G networks.

Leading market players in the Virtual Reality in Retail Market include Visualise Creative Ltd., VREI, Panedia Pty Ltd, and more, offering VR retail experiences, virtual showrooms, 360-degree product visualizations, and interactive VR catalogs. The market scope covers segments like hardware, software, services, and applications such as information systems, advertising, try-on solutions, and planning, with key drivers being the growing adoption of immersive shopping experiences and AI integration.

In the Virtual Reality in Retail Market, the Head-Mounted Devices (HMDs) segment led with a 62% revenue share in 2023, driven by the preference for immersive shopping experiences. The Gesture Tracking Device (GTD) segment is set to grow at a 27.39% CAGR, catering to demand for immersive brand experiences and interactive ads. Planning & Designing dominated the market by 31% revenue share, followed by Advertising & Marketing at a 27.3% CAGR, with Food & Beverage leading in verticals with a 36% revenue share.

North America dominated the Virtual Reality in Retail Market in 2023, driven by high consumer adoption and technological advancements. Europe is set to grow at the fastest CAGR of 27.5%, fueled by VR adoption in fashion, automotive, and home décor. Major retailers are leveraging VR to enhance shopping experiences, with U.S. luxury fashion and home improvement brands deploying VR showrooms. A report by the DQI Bureau on August 7, 2024, highlights the impact of AR/VR and AI on retail, with 86% of buyers willing to pay more for a great customer experience. Brands are facing challenges in providing engaging gamified social experiences due to the need for imaging and content expertise.

The Virtual Reality in Retail Market Growth & Outlook Report 2024-2032 offers insights into market dynamics, investment trends, cost analysis, customer engagement metrics, and sustainability impact. The report includes segmentation by component, device, application, and vertical, along with regional analysis, company profiles, use cases, and best practices.

SNS Insider, a leading market research and consulting agency, aims to provide clients with the knowledge needed to navigate changing circumstances. Through surveys, video talks, and focus groups globally, SNS Insider delivers current and accurate market data, consumer insights, and opinions to help clients make confident decisions.



Read more at GlobeNewswire: Virtual Reality in Retail Market to Hit USD 26.28 Billion