On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the virtual reality in retail market owing to better network infrastructure, higher technology implementation and implementation of virtual reality in retail sector. Adoption of virtual reality in retail in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the VR Retail Market. The increased adoption of virtual reality in retail, gaming and automotive sector is driving the market in the region. The rise in demand for VR headsets in retail stores is driving the virtual reality in retail market in the region.
Virtual Reality in Retail Market Players:
- Oculus VR (U.S.)
- Google (U.S.)
- HTC Corporation (Taiwan)
- WorldViz (U.S.)
- Unity Technologies (U.S.)
- Marxent Labs LLC (U.S.)
- Wevr (U.S.)
- Firsthand Technology Inc. (U.S.)
- Microsoft (U.S.)
- Magic Leap (U.S.)
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Market Research Analysis:
The virtual reality in retail market in North America region is growing due to high adoption of virtual reality in retail in and healthcare sector. The invention of virtual reality in retail is gaining popularity among youths due to busy work schedule and changing lifestyle is driving the market in the region. According to the study, Europe region is one of the prominent player in virtual reality in retail market due to emergence e-commerce industries from the region. Asia-Pacific market is estimated to be one of the fastest growing market as government is continuously investing into research and development of virtual reality in retail market. Increasing IT landscape is boosting the market in the region. Developing countries such as India and China are adopting virtual reality in retail at a large scale owing to increasing IT infrastructure, robust industrialization that is boosting the market in the region. By software segment smartphones and tablets is driving the virtual reality in retail market.
Virtual Reality (VR) in Retail Market Segmentation
The virtual reality in retail market has been segmented on the basis of hardware, software and type. In North America region, retail sector is witnessing considerable market share owing to adoption of virtual reality in retail in upscale stores and shopping malls. VR headsets are used in some retail stores to capture video of customer in trail room, so that it can compare image side by side with other colorful dress in one try.
By type segment, virtual reality in retail market is segmented into window on world, immersive system, telepresence and mixed reality. Immersive system enable users with real life experiences that includes continuity of surrounding, physical feedback, narrative engagement and physical interaction. The users will be able to look around in all direction and will experience continuing with environment. Immersive system enable users to interact with another human being in the same manner that they do with life ones. It offers users with the ability to decide the flow of narrative and clues that lead the user to create interesting developments.
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