From 2022 to 2032, the market for intelligent virtual store design solutions is anticipated to grow at a healthy CAGR of 13.62 percent. The market is expected to reach a market value of US$ 8.15 billion by 2032, up from its current market value of US$ 2.28 billion in 2022.
The intelligent virtual store design solution aids the e-commerce platform in developing a virtual store design that provides an experience similar to one of the real outlets as multichannel retail companies enter the market. The developers of e-commerce platforms have been compelled to develop an experience fueled by extended reality tools that bridges the gap between online and in-person shopping due to a greater understanding of the customer’s intent.
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The intelligent virtual store design solution market refers to the use of advanced technologies such as virtual and augmented reality, artificial intelligence, and machine learning to create immersive and interactive virtual stores. These virtual stores can be accessed by customers from anywhere using their computers, smartphones, or other devices, and provide a realistic shopping experience that closely mimics a physical store.
The market for intelligent virtual store design solutions is driven by several factors. Firstly, the rising popularity of e-commerce has led to a growing demand for virtual shopping experiences that can provide customers with the same level of convenience and personalization that they would expect from a physical store. By creating virtual stores that incorporate advanced technologies such as AI and machine learning, retailers can create an immersive and personalized shopping experience that is tailored to the individual needs of each customer.
Another key driver of the market is the increasing availability of affordable and advanced virtual and augmented reality technologies, which are making it easier for retailers to create virtual stores that are both realistic and engaging. Virtual reality technology, for example, can be used to create a 360-degree view of a store, while augmented reality can be used to overlay digital information on top of the physical world.
Intelligent Virtual Store Design Solution Market: Key Players
The key research institutes in global intelligent virtual store design solutions market are
- InContext Solutions,
- DECISION INSIGHT,
- FIFTH DIMENSION,
- RED DOT SQUARE SOLUTIONS,
- VISION CRITICAL GROUP,
- Processia,
- St Ives plc,
- Cisco Systems, Inc.,
- Dassault Systèmes,
- Mindtree Ltd.,
- Zetes to name a few.
The technologies such as kiosks and interactive handheld devices should be focused on as they provide more information to sales associates and customers, further enabling better decision making and increasing customer satisfaction.
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Intelligent Virtual Store Design Solution Market: Region wise Overview
Geographically, global Intelligent Virtual Store Design Solution market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA).Intelligent virtual store design solutions market is relatively a new market and it is in its nascent stages.
Intelligent virtual store design solution providers are accumulated in the U.S., U.K., Canada, South Korea and few other European countries. As a result, North America and Western Europe regions are expected to account for half the share in the global intelligent virtual store design solutions market.
Intelligent Virtual Store Design Solution Market: Segmentation
The global intelligent virtual store design solutions market is classified on the basis of product type, ignition system component and region.
Based on end users, the global intelligent virtual store design solutions market is segmented into the following:
- Consumer Packaged Goods
- Retail
- Consumer Electronics
- Restaurant
- Specialty Stores
- Others
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