South America Virtual Reality and Augmented Reality in Retail Market
No. of Pages: 73 | Report Code: TIPRE00024742 | Category: Electronics and Semiconductor
No. of Pages: 73 | Report Code: TIPRE00024742 | Category: Electronics and Semiconductor
The SAM virtual reality and augmented reality in retail market is sub segmented into Brazil, Argentina, and Rest of SAM. Several countries in SAM are substantially adopting various technologies to ease and overcome different challenges faced by the population in the respective countries. Infrastructure development is the key to the economic growth, leading to the rise in per capita incomes of Latin American countries. Infrastructure development facilitates productivity enhancement and competitiveness among the countries at the global level, in turn result in the economic development of the country. Commercial complexes, shopping malls, hypermarkets, non-food retail stores, supermarkets, and other types of businesses have sprung up as a result of large infrastructure projects in Latin America. These changes are expected to boost the retail industry's expansion across the area, which will have a beneficial impact on the growth of VR and AR in the retail market. Also, rise in adoption of virtual reality (VR) technology to offer better customer experience across online retail stores is the major factor driving the growth of the APAC virtual reality and augmented reality in retail market.
Brazil has reported the largest number of cases of COVID-19 in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. The pandemic has compelled several country governments to impose lockdowns and suspend economic activities to contain the spread of the virus. Owing to the strict lockdown measures imposed by the governing bodies, the countries experienced a decline in the retail business. However, global brands have made huge investments in the AR and VR technology during the pandemic to offer better customer shopping experience even at their home. This have influenced the growth of local AR VR market players across the region, thereby leaving positive impact in the market growth.
Strategic insights for the South America Virtual Reality and Augmented Reality in Retail provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 79.99 Million |
| Market Size by 2028 | US$ 128.63 Million |
| Global CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Virtual Reality and Augmented Reality in Retail refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The virtual reality and augmented reality in retail market in SAM is expected to grow from US$ 79.99 million in 2021 to US$ 128.63 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028. 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 SAM 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 APAC virtual reality and augmented reality in retail market is segmented into type, application, and country. In terms of type, the virtual reality and augmented reality in retail market is bifurcated into augmented reality and virtual reality. The AR segment dominated the market in the year 2020 and is expected to be the fastest growing during forecast period. Based on application, the virtual reality and augmented reality in retail market is categorized into online retail and offline retail. The online retail segment dominated the market in the year 2020 and is expected to be the fastest growing during forecast period.
A few major primary and secondary sources referred to for preparing this report on the virtual reality and augmented reality in retail market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Epson America, Inc.; Google LLC; Infosys Ltd.; Intel Corporation; Microsoft Corporation; PTC Inc.; Qualcomm Technologies, Inc.; and Samsung Electronics Co., Ltd. among others.
The South America Virtual Reality and Augmented Reality in Retail Market is valued at US$ 79.99 Million in 2021, it is projected to reach US$ 128.63 Million by 2028.
As per our report South America Virtual Reality and Augmented Reality in Retail Market, the market size is valued at US$ 79.99 Million in 2021, projecting it to reach US$ 128.63 Million by 2028. This translates to a CAGR of approximately 7.0% during the forecast period.
The South America Virtual Reality and Augmented Reality in Retail Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Virtual Reality and Augmented Reality in Retail Market report:
The South America Virtual Reality and Augmented Reality in Retail Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Virtual Reality and Augmented Reality in Retail Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Virtual Reality and Augmented Reality in Retail Market value chain can benefit from the information contained in a comprehensive market report.
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