Metaverse in E-Commerce Market Report 2024

This Metaverse In E-Commerce market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The metaverse in e-commerce market size has grown exponentially in recent years. It will grow from $14.94 billion in 2023 to $20.53 billion in 2024 at a compound annual growth rate (CAGR) of 37.4%. The growth during the historic period can be attributed to the rise of 5G technology, the expansion of social commerce, increased use of mobile devices and tablets, greater adoption of virtual and augmented reality, and enhanced visual and sensory experiences.

The metaverse in e-commerce market size is expected to see exponential growth in the next few years. It will grow to $73.47 billion in 2028 at a compound annual growth rate (CAGR) of 37.5%. The growth during the forecast period can be attributed to the rise of non-fungible tokens (NFTs), increased demand for enhanced security and privacy, the growing prevalence of decentralized e-commerce platforms, a rising demand for immersive and interactive shopping experiences, and a surge in online shopping. Key trends expected in this period include the integration of blockchain technology, innovations in payment systems and financial transactions, AI-driven personalization, new product innovations, and ongoing technological advancements.

The growth of social commerce is expected to drive the expansion of the metaverse in e-commerce markets. Social commerce involves using social media platforms to enable online buying and selling through integrated shopping features. This trend is increasing due to higher social media usage, the seamless integration of shopping experiences, and the impact of social interactions on purchasing decisions. The metaverse enhances social commerce by offering immersive and interactive shopping experiences that blend social interactions with virtual storefronts and product exploration. For example, in February 2024, the Census Bureau of the Department of Commerce reported that U.S. retail e-commerce sales for the second quarter of 2024 totaled $282.3 billion, marking a 5.3% (± 0.7) increase from the first quarter of 2023. This rise in social commerce is fueling the growth of the metaverse in the e-commerce sector.

Leading companies in the metaverse e-commerce market are focusing on creating in-game shopping experiences to integrate shopping with gameplay, boost user engagement, and drive revenue from virtual product sales. In-game shopping allows players to purchase virtual items or upgrades using real or in-game currency to enhance their gaming experience or customize their characters. For instance, in May 2023, Amazon, a U.S.-based multinational technology company, introduced Amazon Anywhere. This set of application programming interfaces (APIs) is designed for app and game developers, enabling customers to buy physical products from the Amazon store while engaging in virtual environments such as video games and augmented reality (AR) applications. The service includes in-game shopping, product integration, a wide range of products, order management, and APIs for integrating Amazon's shopping capabilities into apps and games, thereby improving user engagement.

In October 2022, Flipkart, an India-based e-commerce company, partnered with eDAO to launch Flipverse, a new virtual shopping experience on the FireDrops platform. This collaboration aims to offer users an interactive and immersive shopping experience within the metaverse. eDAO is an India-based platform specializing in digital experiences in the Web3 ecosystem.

Major companies operating in the metaverse in e-commerce market are Microsoft Corporation, Alibaba Group, Meta Platforms Inc., Tencent Holdings Limited, Amazon Web Services (AWS), Sony Corporation, Nike Inc., NVIDIA Corporation, Adidas Inc., Shopify Inc., Flipkart, Etsy Inc, Roblox Corporation, Epic Games Inc., BigCommerce Holdings Inc., HTC Corporation, Animoca Brands Corporation Ltd., Decentraland, Ready Player Me, The Sandbox, ARuVR, Verpex hosting LTD.

North America was the largest region in the metaverse in e-commerce market in 2023. The regions covered in the metaverse in e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the metaverse in e-commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The metaverse in e-commerce involves virtual environments where digital avatars engage in business transactions, explore virtual stores, and experience immersive shopping. It combines virtual reality (VR) and augmented reality (AR) technologies to offer a three-dimensional shopping experience.

Key technologies in the metaverse for e-commerce include augmented reality (AR) and virtual reality (VR) headsets, blockchain, and mixed reality. AR or VR headsets are specialized devices that either overlay digital information onto the real world (AR) or create entirely virtual environments (VR). Various platforms used in this context include computers, mobile devices, and headsets, supporting applications such as virtual stores, virtual events, virtual product discovery, virtual customer service, and virtual payments.

The metaverse in e-commerce market research report is one of a series of new reports that provides metaverse in e-commerce market statistics, including metaverse in e-commerce industry global market size, regional shares, competitors with a metaverse in e-commerce market share, detailed metaverse in e-commerce market segments, market trends and opportunities, and any further data you may need to thrive in the metaverse in e-commerce industry. This metaverse in e-commerce market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The metaverse in the e-commerce market includes revenues earned by entities through virtual store sales, virtual currency exchange, and content creation tools. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The metaverse in the e-commerce market consists of sales of virtual goods, digital collectibles, barcode scanners, digital signage, inventory management devices, wearable technology, and security cameras. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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