NEW YORK, Oct. 18, 2023 /PRNewswire/ — The “metaverse in e-commerce market by platform (computer, mobile, and headset), technology (AR and VR, blockchain, mixed reality, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the metaverse in e-commerce market from 2022 to 2027 is USD 85.88 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
The growing popularity of AR technology is a key factor driving market growth. With the growing popularity of augmented reality technologies, consumers can fully trust their products’ quality before purchasing them. It benefits customers in terms of convenience, but it also benefits merchants in terms of reducing returns and expanding their customer base. Furthermore, the addition of metaverse into an already creative field will bring with it something never offered to e-commerce.
Privacy and security concerns over the metaverse are significant challenges restricting market growth. Although enterprises and organizations still strive to modernize their IT security systems, users of this metaverse have had a long history of concerns about data protection and safety. A massive amount of information on users and their environment is collected and processed by the metaverse. As a result, a breach of security or privacy may result in harm and damage to the organizer’s reputation.
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The metaverse in e-commerce market has been segmented by platform (computer, mobile, and headset), technology (AR and VR, blockchain, mixed reality, and others), and geography (North America, APAC, Europe, South America, and the Middle East and Africa).
- The market share growth by the computer segment will be significant during the forecast period. It was found that, in 2020, most consumers using Amazon.com Inc.’s desktop site to buy products would use either their desktops or laptops. Moreover, a lot of websites are built with desktops in mind which makes it possible to view most functions using this method. For people with a better internet connection and more speed, desktops will also be preferred because the fixed connection is almost as fast as that of a cell phone.
- North America is projected to hold a 39% share of the market in 2023.
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Key Companies in the Metaverse In E-commerce Market:
Adobe Inc., Alibaba Group Holding Ltd., Amazon.com Inc., Autodesk Inc., Block Inc., Dealskart Online Services Pvt. Ltd., Epic Games Inc., Globant SA, Kestone CL US Ltd., Magic Leap Inc., Matterport Inc., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., Queppelin, Roblox Corp., Salesforce.com Inc., Shopify Inc., Unity Software Inc., and SAP SE
The metaverse market in finance is estimated to grow at a CAGR of 21.33% between 2022 and 2027. The size of the market is forecast to increase by USD 107.06 billion.
The metaverse in healthcare market size is estimated to grow at a CAGR of 34.92% between 2022 and 2027. The metaverse in healthcare market size is forecast to increase by USD 5,624.07 million.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Platform
Market Segmentation by Technology
Market Segmentation by Geography
Drivers, Challenges, & Trends
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