How Has the Metaverse In E Commerce Market Evolved Historically and What is its Current Size?
The metaverse in e commerce market has seen considerable growth due to a variety of factors.
• The dimension of the metaverse in the e-commerce market has significantly expanded over the previous years. Its growth is projected to escalate from $20.53 billion in 2024 to $28.28 billion in 2025, with a compound annual growth rate (CAGR) of 37.8%.
Factors influencing this growth during the historic period include the emergence of 5G technology, the growth of social commerce, greater usage of mobile devices and tablets, broadening acceptance of virtual and augmented reality, and enhanced visual and sensory encounters.
What Does Future Hold for The Metaverse In E Commerce Market By 2029?
The metaverse in e commerce market is expected to maintain its strong growth trajectory in upcoming years.
• Exciting growth is predicted in the e-commerce metaverse market in the coming years. It's estimated to balloon to a massive $100.89 billion by 2029, boasting a compound annual growth rate (CAGR) of 37.4%.
Factors fuelling this projected surge within the forecast period encompass the rising popularity of non-fungible tokens (NFTs), an increasing need for improved security and privacy, the growing dominance of decentralized e-commerce platforms, heightened demand for engaging, interactive shopping experiences and the surge in online shopping. The forecast period is also expected to witness major trends including the incorporation of blockchain technology, advancements in payment systems and financial transactions, AI-driven personalization, novel product innovations, and broader technological progress.
What Are The Primary Growth Drivers In The Metaverse In E Commerce Market?
The surge of social commerce is anticipated to be a significant driving force propelling the metaverse's expansion in the field of e-commerce. In essence, social commerce involves the use of social media platforms to streamline online purchasing and selling processes, integrating a variety of shopping features. There is a positive trend associated with social commerce, thanks to the increased use of social media platforms, the seamless blending of shopping experiences, and social interactions' impact on purchasing choices. The metaverse element in e-commerce booms social commerce by providing immersive, user-interactive shopping experiences that blend social interactions seamlessly with virtual shopping avenues and product perusal. For example, as reported by the Department of Commerce's Census Bureau, a government department in the US, the estimated e-commerce retail sales in the US for Q2 2024 were projected to be a whopping $282.3 billion. This showcases a 5.3% (± 0.7) rise as compared to Q1 2023. As such, the uptick in social commerce has emerged as a key driving force accelerating the metaverse's growth within the e-commerce landscape.
What Is The Segmentation Of The Global Metaverse In E Commerce Market?
The metaverse in e-commercemarket covered in this report is segmented –
1) By Technology: Augmented Reality (AR) Or Virtual Reality (VR) Headset, Blockchain, Mixed Reality, Other Technologies
2) By Platform: Computer, Mobile, Headset
3) By Application: Virtual Stores, Virtual Events, Virtual Product Discovery, Virtual Customer Service, Virtual Payments
Subsegments:
1) By Augmented Reality (AR) Or Virtual Reality (VR) Headset: Standalone VR Headsets, Tethered VR Headsets, AR Smart Glasses, Mobile AR Applications
2) By Blockchain: Cryptocurrency Payment Systems, Smart Contracts For Transactions, Supply Chain Management Solutions, Digital Identity Verification
3) By Mixed Reality: Holographic Displays, Immersive Retail Experiences, Interactive Virtual Showrooms
4) By Other Technologies: Artificial Intelligence (AI), 3D Modeling and Rendering Software, Social Commerce Platforms, Cloud Computing Solutions
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What Emerging Trends Are Influencing The Growth Of The Metaverse In E Commerce Market?
Metaverse-based e-commerce platforms, spearheaded by leading companies, are innovating the gaming environment by incorporating in-game shopping features. This innovation aims to merge shopping and gaming in a way that boosts user interaction and generates income from the sale of virtual products. In-game purchases give players the opportunity to buy virtual commodities or advancements within the game using either real money or digital game currency, providing an enhanced gaming experience or options for character personalization. For instance, in May 2023, Amazon, a globally recognized tech giant based in the US, introduced Amazon Anywhere. This is a compilation of application programming interfaces (APIs) aimed at app and game developers, which enables customers to buy tangible goods directly from the Amazon store during their virtual activities such as gaming and augmented reality (AR) applications. It combines in-game shopping, product integration, a broad array of goods, order handling, and offers APIs for developers to incorporate Amazon's shopping technology into their apps and games. This integrated shopping experience encourages user interaction while allowing them to shop within the game or app.
Who Are the Key Players In The Metaverse In E Commerce Market?
Major companies operating in the metaverse in e-commerce market are:
• Microsoft Corporation
• Alibaba Group
• Meta Platforms Inc.
• Tencent Holdings Limited
• Amazon Web Services (AWS)
• Sony Corporation
• Nike Inc.
• NVIDIA Corporation
• Adidas Inc.
• Shopify Inc.
• Flipkart
• Etsy Inc.
• Roblox Corporation
• Epic Games Inc.
• BigCommerce Holdings Inc.
• HTC Corporation
• Animoca Brands Corporation Ltd.
• Decentraland
• Ready Player Me
• The Sandbox
• ARuVR
• Verpex hosting LTD
What Are The Regional Insights Into The Metaverse In E Commerce Market?
North America was the largest region in the metaverse in e-commerce market in 2024. The regions covered in the metaverse in e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
