Metaverse In Ecommerce Market to Record A 30.5per cent Growth
The key factor driving growth in the metaverse in the ecommerce market is the growing popularity of AR technology, The predicted growth of the metaverse in ecommerce market share from 2021 to 2026 is $60.47 billion at a progressing CAGR of 36.47per cent. Technavio released a report on “The Metaverse In E-commerce Market by Geography […]
Topics
The key factor driving growth in the metaverse in the ecommerce market is the growing popularity of AR technology,
The predicted growth of the metaverse in ecommerce market share from 2021 to 2026 is $60.47 billion at a progressing CAGR of 36.47per cent. Technavio released a report on “The Metaverse In E-commerce Market by Geography (North America, APAC, Europe, South America, and the Middle East and Africa) and Platform ( Computer, Mobile, and Headset) Forecast and Analysis 2022-2026.”
The key factor driving growth in the metaverse in the ecommerce market is the growing popularity of AR technology, mentioned in the report. The rising popularity of AR technology allows consumers to be completely confident in a product’s quality and fit before purchasing it. This benefits customers in terms of convenience and merchants by reducing returns and expanding their customer base.
Virtual purchasing experiences are becoming increasingly popular among customers. As a result, all types of ecommerce businesses should follow the trend. The addition of metaverse to an already inventive arena will provide the ecommerce business with something unparalleled. Customers will be able to make purchases in real-time in more lifelike virtual stores created by sellers. Such factors will contribute to the market growth during the forecast period.
Major Challenges
The privacy and security concerns over metaverse will be a major challenge for the metaverse in the ecommerce market during the forecast period. Even though companies and organisations keep revolutionizing their IT security systems, data privacy and security has been a long-running concern for users of the metaverse. The metaverse collects and processes vast amounts of information about users and their environment. Privacy concerns, therefore, constitute a significant challenge in the market. Metaverse has access to users’ personal information, which could compromise their privacy. It has the ability to gather a lot of data from the user’s social networking accounts. Hackers’ privacy may be threatened if they obtain access to a user’s device. A security or privacy violation might lead to trouble and ruin the organizer’s reputation. Such factors may hamper the growth of the market during the forecast period.
Metaverse in ecommerce Market – Segmentation Analysis:
The metaverse in the ecommerce market report is segmented by Geography (North America, APAC, Europe, South America, and the Middle East and Africa) and Platform ( Computer, Mobile, and Headset)
Regional Highlights –
38per cent of the market’s growth will originate from North America during the forecast period. The US is the key market for metaverse in ecommerce in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.
Revenue Generating Segment
The metaverse in ecommerce market share growth by the computer segment will be significant during the forecast period. The emergence of a metaverse in ecommerce has provided a highly personalised digital experience.
Metaverse in E-commerce Market – Vendor Analysis:
The metaverse in the e-commerce market is fragmented. Vendors like Adobe Inc, Block Inc, NVIDIA Corp, and several others are deploying growth strategies such as focusing on acquiring smaller brands to increase their market presence and compete in the market.
