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Augmented Reality & Virtual Reality Market for Commerce Industry: By Type (Software, Service), By Application (Gaming, Home furnishing, Hospitality, Real Estate, Fashion, Automotive, Education, Others) Geographic Analysis - Forecast (2018-2023)

Report Code : ITR 0080 Format Type: PDF+ Excel Database Client Rating (3/5)
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The commerce industry saw a huge change when e-commerce concept gained mass adoption. Prominent companies such as Walmart, Blockbuster suffered when people began purchasing products online, and players such as Amazon, eBay and Netflix gathered the majority of market share. Augmented reality and virtual reality could become an extension to e-commerce. For example, recently, IKEA launched an application called “IKEA Place” which allows users to view the furniture products as if they were placed in the user’s home. This would help speed up the purchase decision process. Although this technology is not expected to reach the heights of success as that of e-commerce, it will still be vital going forward.

What is Augmented Commerce & Virtual Commerce?

Augmented Reality is an “enhanced” version of reality created using technology to add images, information or both into the environment. Virtual Reality is a form of simulated environment created with computer technology. Although similar in concepts, Augmented Reality has been in use for some time, especially in the sports industry. 

What are the applications of Augmented & Virtual Commerce?

Augmented Commerce is currently being used by various retailers to sell their products such as IKEA (Furniture), Converse (Shoes), eBay (FMCG), Amazon (FMCG), etc.

Augmented Commerce could be used by organizations to allow users to try games, clothes, furniture, cars, etc. before purchase. People could view what a flat would look like (and features like paint and furniture) by walking around through the application, and another application allows users to view the interior and exterior of various cars.

 Augmented Reality & Virtual Reality Market for Commerce Industry

Market Research & Market Trends:

  • Facebook integrating augmented reality ads into its application:
  • Facebook will be providing users an augmented reality experience via advertisements in the application. Users of the application may view fashion goods such as eye glasses and shoes, and try them on virtually. 
  • Google invests in JD.com, a Chinese ecommerce giant:
  • Google has made a huge investment in an ecommerce giant that was making use of augmented reality technology to boost its sales. Google has previously invested in companies that are developing upcoming technology such as DeepMind AI. We can expect similar investments from organizations that want to leverage the technology for their operations.
  • eBay collaborated with local firm to open virtual stores in Australia:
  • eBay was one of the first movers in the market, when the industry began developing applications for this technology. There will be a time when people start to choose between e-commerce sites based on whether they have virtual stores or not, and after that, they may judge these sites on the effectiveness of the virtual content.
  • Amazon offering VR experiences in select cities:
  • Amazon is trialing VR in a few selected cities in India, with a view to boost their Prime Day sales. 
  • Another e-commerce giant, eBay did the same in 2016 in Australia. We can expect these big players raise the awareness of the technology through such events before potential app launches.

Who are the key players in the Augmented & Virtual Reality in Ecommerce?

The key players in the Augmented & Virtual Reality Commerce Industry are eBay, Amazon, Ikea, Facebook, Sephora, BMW, Harley Davidson, Sotheby, etc.

What is our report scope?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.

All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

Key Takeaways from this Report

  • Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
  • Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
  • Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
  • Analyze the sales and distribution channels across key geographies to improve top-line revenues.
  • Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes. 
  • Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
  • Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market. 

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