The virtual reality and augmented reality in retail market in Europe is expected to grow from US$ 1048.20 million in 2021 to US$ 5214.75 million by 2028; it is estimated to grow at a CAGR of 25.8% from 2021 to 2028.
The UK, Germany, France, Italy, and Russia are major economies in Europe. Brands use virtual and augmented reality technology to promote themselves and their products in virtual reality marketing. The technology generates a fictitious yet realistic setting. Depending on the device, virtual reality marketing might be visual or multi-sensory. A full virtual reality headset provides a fully immersive experience, whereas a virtual reality Instagram filter only overlays objects or photographs onto the camera view. Augmented reality (AR) marketing is what these filters are. AR is a type of virtual reality in which a virtual image is superimposed on the real environment. The most prevalent sort of virtual reality marketing is augmented reality marketing. For many businesses, it is more practical and less expensive than developing a headset experience. Consumers will find augmented reality more accessible because it only requires a phone or desktop app.
The COVID-19 pandemic in Europe has had a diverse impact on different countries. Only a few countries have seen an increase in the number of cases, resulting in stringent, long-term lockdown periods or social isolation standards. Because of their strong healthcare systems, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively slight decline in their growth activities. The sudden outbreak of the COVID-19 virus across the region has not only led to the standstill of retail business operations but has also led to the closure of several small and medium retail enterprises across the region. During the pandemic, European countries such as the UK and Germany, saw an increase in the adoption of AR and VR in the retail business. Since the outbreak, European businesses such as Adidas and ASOS have made significant investments in developing their own augmented reality fitting rooms and experiences. Customers and merchants have been forced into an almost totally digital landscape because of the COVID-19 crisis, prompting firms to turn to new, inventive solutions to both reproduce the in-store experience and boost customer happiness online. The issue of sizing is one of the most common ecommerce concerns, with online clothes having an especially high return rate. Brands across the region are addressing this problem by providing a tailored experience for their online customers using AR and VR technologies. As a result, the high level of investment by retail companies in technical developments has had a favorable impact on Europe Virtual Reality and Augmented Reality in Retail market growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe virtual reality and augmented reality in retail market. The Europe virtual reality and augmented reality in retail market is expected to grow at a good CAGR during the forecast period.
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Europe Virtual Reality and Augmented Reality in Retail Market Segmentation
Europe Virtual Reality and Augmented Reality in Retail Market – By Type
- AR
- VR
Europe Virtual Reality and Augmented Reality in Retail Market- By Application
- Online Retail
- Offline Retail
Europe Virtual Reality and Augmented Reality in Retail Market - By Country
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
Europe Virtual Reality and Augmented Reality in Retail Market -Companies Mentioned
- Epson America, Inc.
- Google LLC
- Infosys Ltd.
- Intel Corporation
- Marxent
- Microsoft Corporation
- PTC Inc.
- Qualcomm Technologies, Inc.
- Retail VR
- Samsung Electronics Co., Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Virtual Reality and Augmented Reality in Retail Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Virtual Reality and Augmented Reality in Retail Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Adoption of Virtual Reality (VR) Technology to Offer Better Customer Experience Across Online Retail Stores
5.1.2 Ascent in Adoption of AR and VR in Marketing
5.2 Market Restraints
5.2.1 AR-Related Security and Privacy Concerns
5.3 Market Opportunities
5.3.1 Ascension in Investments by Retailers on AR and VR Technologies
5.4 Future Trends
5.4.1 High Adoption Across Retail Brands for Implementing Virtual Fitting Technology
5.5 Impact Analysis of Drivers and Restraints
6. Virtual Reality and Augmented Reality in Retail Market – Europe Analysis
6.1 Europe Virtual Reality and Augmented Reality in Retail Market Overview
7. Europe Reality in Retail Market Analysis – by Type
7.1 Overview
7.2 Europe Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type, 2020 and 2028
7.3 AR
7.3.1 Overview
7.3.2 AR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
7.4 VR
7.4.1 Overview
7.4.2 VR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
8. Europe Virtual Reality and Augmented Reality in Retail Market Analysis – by Application
8.1 Overview
8.2 Europe Virtual Reality and Augmented Reality in Retail Market, by Application (2020 and 2028)
8.3 Online Retail
8.3.1 Overview
8.3.2 Online Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Offline Retail
8.4.1 Overview
8.4.2 Offline Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Virtual Reality and Augmented Reality in Retail Market – Country Analysis
9.1 Overview
9.1.1 Europe Virtual Reality and Augmented Reality in Retail Market Breakdown, by Key Country
9.1.1.1 UK Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028
9.1.1.1.1 UK Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.1.2 UK Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.2 Germany Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028
9.1.1.2.1 Germany Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.2.2 Germany Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.3 France Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028
9.1.1.3.1 France Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.3.2 France Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.4 Italy Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028
9.1.1.4.1 Italy Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.4.2 Italy Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.5 Russia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028
9.1.1.5.1 Russia Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.5.2 Russia Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
9.1.1.6 Rest of Europe Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028
9.1.1.6.1 Rest of Europe Virtual Reality and Augmented Reality in Retail Market Breakdown, by Type
9.1.1.6.2 Rest of Europe Virtual Reality and Augmented Reality in Retail Market Breakdown, by Application
10. Impact of COVID-19 Pandemic on Europe Virtual Reality and Augmented Reality in Retail Market
10.1 Overview
11. Virtual Reality and Augmented Reality in Retail Market-Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Epson America, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Marxent
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Google LLC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Infosys Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Intel Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Microsoft Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 PTC Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Qualcomm Technologies, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Retail VR
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Samsung Electronics Co., Ltd.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast To 2028 – By Country (US$ Mn)
Table 3. UK Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 4. UK Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 5. Germany Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 6. Germany Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 7. France Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 8. France Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 9. Italy Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 10. Italy Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 11. Russia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 12. Russia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 13. Rest of Europe Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 14. Rest of Europe Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast to 2028 – By Application (US$ Mn)
Table 15. Glossary of Term: Virtual Reality and Augmented Reality in Retail Market
LIST OF FIGURES
Figure 1. Europe Virtual Reality and Augmented Reality in Retail Market Segmentation
Figure 2. Europe Virtual Reality and Augmented Reality in Retail Market Segmentation – By Country
Figure 3. Europe Virtual Reality and Augmented Reality in Retail Market Overview
Figure 4. AR Segment is Expected to Dominate the Europe Virtual Reality and Augmented Reality in Retail Market by Type
Figure 5. Online Retail Segment held Largest Europe Virtual Reality and Augmented Reality in Retail Market Share in 2020
Figure 6. UK held Largest Market Share in 2020
Figure 7. Europe: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Europe Virtual Reality and Augmented Reality in Retail Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Europe Virtual Reality and Augmented Reality in Retail Market Revenue Share, by Type (2020 and 2028)
Figure 12. Europe AR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe VR: Virtual Reality and Augmented Reality in Retail Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Virtual Reality and Augmented Reality in Retail Market Revenue Share, by Application (2020 and 2028)
Figure 15. Europe Online Retail: Virtual Reality and Augmented Reality in Retail – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe Offline Retail: Virtual Reality and Augmented Reality in Retail Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Virtual Reality and Augmented Reality in Retail Market , by Key Country-Revenue 2020 (US$ Million)
Figure 18. Europe Virtual Reality and Augmented Reality in Retail Market Breakdown, by Key Country, (2019 & 2028)
Figure 19. UK Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Figure 20. Germany Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Figure 21. France Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Figure 22. Italy Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Figure 23. Russia Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Figure 24. Rest of Europe Virtual Reality and Augmented Reality in Retail Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Figure 25. Impact of COVID-19 Pandemic in Europe Country Markets
- Epson America, Inc.
- Google LLC
- Infosys Ltd.
- Intel Corporation
- Marxent
- Microsoft Corporation
- PTC Inc.
- Qualcomm Technologies, Inc.
- Retail VR
- Samsung Electronics Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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