AR and VR in Commerce Market Forecast to Reach $3.2 Billion

AR and VR in Commerce Market Forecast to Reach $3.2 Billion by 2026


AR and VR in Commerce Market Forecast to Reach $3.2 Billion by 2026
"The Market Is Driven by Increasing Popularity of Augmented & Virtual Reality Devices Due to Better User Engagement With High Recall Rate. "
BriefingWire.com, 4/21/2021 -
The market for AR and VR in Commerce is forecast to reach $3.2 billion by 2026, growing at a CAGR of 28.4% from 2021 to 2026. The market is driven by increasing popularity of Augmented & Virtual Reality Devices due to better user engagement with high recall rate. The commerce industry saw a huge change when e-commerce concept gained mass adoption. Prominent companies such as Walmart, Blockbuster suffered when people began purchasing products online, and players such as Amazon, eBay and Netflix gathered the majority of market share. Augmented reality and virtual reality could become an extension to e-commerce. For example, recently, IKEA launched an application called “IKEA Place” which allows users to view the furniture products as if they were placed in the user’s home. This would help speed up the purchase decision process. Although this technology is not expected to reach the heights of success as that of e-commerce, it will still be vital going forward.

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