Global Metaverse in E-commerce Market

Metaverse In E-Commerce Market Size, Share, Growth Analysis, By Platform (Desktop, Mobile/Tablets), By Technology (Blockchain, Virtual Reality & Augmented Reality), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45A2183 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Metaverse in E-commerce Market News

  • In October 2021, Facebook announced that it would be rebranding as Meta to reflect its focus on building the metaverse. As part of this shift, the company is investing heavily in virtual and augmented reality technology to create immersive experiences for users. This move is expected to have significant implications for the e-commerce market as Facebook has a massive user base and could potentially become a major player in the metaverse space.
  • In November 2021, Chinese tech giant Tencent invested $1.65 billion in the gaming platform Roblox, which has been described as a metaverse for children. Roblox allows users to create and play games within a virtual world, and it has become increasingly popular among younger generations. Tencent's investment could help to further develop Roblox's metaverse capabilities and expand its e-commerce potential.
  • In August 2021, Adidas launched a virtual sneaker that was only available to purchase within the metaverse game Highrise. This was the first time that a major brand had launched a product exclusively in a virtual world, and it generated a lot of buzz in the e-commerce and gaming industries. The sneaker sold out within minutes, demonstrating the potential of the metaverse as a new sales channel for e-commerce businesses.
  • In December 2021, the e-commerce platform Shopify announced a partnership with Roblox to enable merchants to sell virtual products and experiences within the game. This partnership could open up new revenue streams for Shopify's merchants and further integrate the metaverse with the e-commerce market.
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FAQs

Global Metaverse in E-Commerce Market size was valued at USD 10.9 billion in 2022 and is poised to grow from USD 16.13 billion in 2023 to USD 371.35 billion by 2031, growing at a CAGR of 48.0% during the forecast period (2024-2031).

The global metaverse in the e-commerce market is still emerging, and it's difficult to identify clear market leaders or dominant players at this stage. However, there are a number of companies that are exploring the potential of the metaverse and developing related technologies that could have significant implications for the e-commerce industry. These are just a few examples of companies that are active in the metaverse space and the e-commerce market. It's likely that we will see more companies exploring this opportunity in the years to come, and it's still too early to predict which companies will emerge as dominant players in this emerging market. 'Unity Technologies ', 'Decentraland ', 'The Sandbox ', 'Shopify ', 'Roblox Corporation ', 'Infinite Reality (iR) ', 'NVIDIA (Omniverse) ', 'DressX ', 'VRChat ', 'Somnium Space ', 'Blockchainx ', 'ARuVR ', 'ShapesXR ', 'eXp Realty ', 'Epic Games (Fortnite) ', 'Spatial ', 'Voxels Metaverse ', 'Zepeto ', 'High Fidelity ', 'Ready Player Me'

The increasing adoption of virtual and augmented reality technologies is making it easier to create immersive virtual environments that can be used for e-commerce. This is driving demand for the development of metaverse platforms that can provide a seamless and immersive shopping experience for consumers.

Increased demand for virtual shopping experiences: With the ongoing COVID-19 pandemic, more consumers are turning to online shopping, and the metaverse offers a unique way for retailers to create immersive, interactive shopping experiences that can be accessed from anywhere in the world.

North America dominated the global metaverse in the e-commerce market, due to its advanced technology infrastructure and large e-commerce market. North America is home to some of the largest e-commerce markets in the world, including the United States and Canada. The region has a high level of internet penetration and a large population of online shoppers, which could drive demand for innovative e-commerce experiences such as the metaverse. North America has some of the most advanced technology infrastructure in the world, including high-speed internet and advanced mobile networks. This could make it easier to develop and launch metaverse platforms that deliver high-quality user experiences. North America has a strong focus on innovation and entrepreneurship, with many of the world's leading technology companies based in the region. This could drive investment and innovation in the development of metaverse platforms and applications. North America is home to a large and thriving gaming and entertainment industry, which could drive innovation in the development of metaverse platforms that combine gaming and e-commerce. The regulatory environment in North America is generally favorable to innovation and entrepreneurship, which could make it easier to launch new metaverse platforms and applications. However, there may be some regulatory challenges related to data protection and privacy that needs to be addressed as the market evolves.

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Global Metaverse in E-commerce Market

Report ID: SQMIG45A2183

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