Asia-Pacific Virtual Reality and Augmented Reality in Retail Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (AR and VR) and Application (Online Retail and Offline Retail)
The virtual reality and augmented reality in retail market in APAC is expected to grow from US$ 859.03 million in 2021 to US$ 4743.12 million by 2028; it is estimated to grow at a CAGR of 27.6% from 2021 to 2028.
China, Japan, South Korea, India, and Australia are major economies in APAC. Mixed reality technologies such as AR and VR, provide a lot of promise for businesses to give customers new ways to interact with their brands, whether it is through taking them to another world or enriching the one they are in right now. Due to developments in mobile technology, augmented reality has grown in popularity in recent years, allowing customers to visualize and test things before purchasing them. Various retail brands are thereby investing in the technologies. Thus, the rise in investment by retail businesses in AR and VR technologies in expected to fuel the growth of the AR and VR in retail market over the forecast period.
The COVID-19 pandemic has severely impacted APAC. Moreover, countries in this region are among the highly populated countries in the world, which leads to the greater risk of spreading the infection. Many global brands and technological companies are headquartered in the region. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. The rapid outbreak of the COVID-19 pandemic has led to strict lockdowns across the region since the starting of 2020. Some countries in the region such as India are still facing lockdowns, owing to the rising cases across the country. The region has experienced a temporary shutdown of all retail business activities in the initial moths of 2020. This has led retail businesses to make large investments on adopting technological advancements in their business model. For instance, with the COVID-19 pandemic causing a shift in consumer behavior and an increase in online adoption, Flipkart has been concentrating on improving customer experiences through a number of investments. To improve its e-commerce purchasing experience, Flipkart Group has acquired Scapic, an augmented reality (AR) business. Scapic is a cloud-based platform that allows clients in the e-commerce and marketing industries to create and publish Augmented Reality (AR) and 3D content. Thus, the growing investment by retail giants across the region on technological implementation has positively impacted the growth of the market across the region during the pandemic.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC virtual reality and augmented reality in retail market. The APAC virtual reality and augmented reality in retail market is expected to grow at a good CAGR during the forecast period.
APAC Virtual Reality and Augmented Reality in Retail Market Segmentation
APAC Virtual Reality and Augmented Reality in Retail Market – By Type
- AR
- VR
APAC Virtual Reality and Augmented Reality in Retail Market- By Application
- Online Retail
- Offline Retail
APAC Virtual Reality and Augmented Reality in Retail Market - By Country
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
APAC Virtual Reality and Augmented Reality in Retail Market -Companies Mentioned
- Epson America, Inc.
- Google LLC
- Infosys Ltd.
- Intel Corporation
- Microsoft Corporation
- PTC Inc.
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Virtual Reality and Augmented Reality in Retail Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Virtual Reality and Augmented Reality in Retail Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Adoption of Virtual Reality (VR) Technology to Offer Better Customer Experience Across Online Retail Stores
5.1.2 Soaring Adoption of AR and VR in Marketing
5.2 Market Restraints
5.2.1 Security and Confidential Issues Associated with AR
5.3 Market Opportunities
5.3.1 Rising Investments by Retailers on AR and VR Technologies
5.4 Future Trends
5.4.1 High Adoption Across Retail Brands for Implementing Virtual Fitting Technology
5.5 Impact Analysis of Drivers and Restraints
6. Virtual Reality and Augmented Reality in Retail Market APAC Analysis
6.1 APAC Virtual Reality and Augmented Reality in Retail Market Overview
7. APAC Reality in Retail Market Analysis – by Type
7.1 Overview
7.2 Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type, 2020 and 2028
7.3 AR
7.3.1 Overview
7.3.2 AR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
7.4 VR
7.4.1 Overview
7.4.2 VR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Virtual Reality and Augmented Reality in Retail Market Analysis – by Application
8.1 Overview
8.2 APAC Virtual Reality and Augmented Reality in Retail Market, by Application (2020 and 2028)
8.3 Online Retail
8.3.1 Overview
8.3.2 Online Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Offline Retail
8.4.1 Overview
8.4.2 Offline Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Virtual Reality and Augmented Reality in Retail Market – Country Analysis
9.1 Overview
9.1.1 APAC Virtual Reality and Augmented Reality in Retail Market Breakdown, by Country
9.1.1.1 China Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.1.1.1 China Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.1.2 China Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.2 Japan Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.1.2.1 Japan Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.2.2 Japan Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.3 India Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.1.3.1 India Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.3.2 India Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.4 South Korea Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.1.4.1 South Korea Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.4.2 South Korea Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.5 Australia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.1.5.1 Australia Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.5.2 Australia Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.6 Rest of APAC Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.1.6.1 Rest of APAC Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.6.2 Rest of APAC Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
10. Impact of COVID-19 Pandemic on APAC Virtual Reality and Augmented Reality in Retail Market
10.1 Overview
11. APAC Virtual Reality and Augmented Reality in Retail Market-Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Epson America, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Google LLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Infosys Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Intel Corporation
12.4.1 1.5.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Microsoft Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 PTC Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Qualcomm Technologies, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Samsung Electronics Co., Ltd.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 – By Country (US$ Mn)
Table 3. China Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 4. China Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 5. Japan Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 6. Japan Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 7. India Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 8. India Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 9. South Korea Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 10. South Korea Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 11. Australia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 12. Australia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 13. Rest of APAC Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 14. Rest of APAC Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 15. Glossary of Term: APAC Virtual Reality and Augmented Reality in Retail Market
LIST OF FIGURES
Figure 1. APAC Virtual Reality and Augmented Reality in Retail Market Segmentation
Figure 2. APAC Virtual Reality and Augmented Reality in Retail Market Segmentation – By Country
Figure 3. APAC Virtual Reality and Augmented Reality in Retail Market Overview
Figure 4. AR Segment is Expected to Dominate the APAC Virtual Reality and Augmented Reality in Retail Market by Type
Figure 5. Online Retail Segment held Largest Market Share in APAC Virtual Reality and Augmented Reality in Retail Market
Figure 6. China held Largest Market Share in 2020
Figure 7. APAC: PEST Analysis
Figure 8. Expert Opinion
Figure 9. APAC Virtual Reality and Augmented Reality in Retail Market: Impact Analysis of Drivers and Restraints
Figure 10. APAC Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. APAC Virtual Reality and Augmented Reality in Retail Market Revenue Share, by Type (2020 and 2028)
Figure 12. APAC AR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC VR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Reality and Augmented Reality in Retail Market Revenue Share, by Application (2020 and 2028)
Figure 15. APAC Online Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Offline Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Virtual Reality and Augmented Reality in Retail Market, by Key Country- Revenue 20202(US$ Million)
Figure 18. APAC Virtual Reality and Augmented Reality in Retail Market Breakdown, by Country, (2020 & 2028 )
Figure 19. China Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Japan Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 21. India Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 22. South Korea Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 23. Australia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 24. Rest of APAC Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 25. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- Epson America, Inc.
- Google LLC
- Infosys Ltd.
- Intel Corporation
- Microsoft Corporation
- PTC Inc.
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC Virtual Reality and Augmented Reality in Retail Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC Virtual Reality and Augmented Reality in Retail market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving Virtual Reality and Augmented Reality in Retail market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution