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Market Snapshot

CAGR:7.88

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.88

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Report Overview

The Augmented Reality (AR) in Retail Market is poised to experience robust growth, with a projected Compound Annual Growth Rate (CAGR) of 6.78% from 2022 to 2032. This growth is expected to result in a substantial increase of USD 12,345.67 million in market size. The adoption of Augmented Reality technology in the retail sector is driving this expansion, thanks to its potential to enhance customer experiences, bridge the gap between physical and digital shopping, and revolutionize the way consumers interact with products and brands. Augmented Reality involves overlaying digital information onto the real-world environment through devices like smartphones, tablets, and AR glasses. This integration creates immersive and interactive shopping experiences, enabling retailers to engage customers in novel ways.

Augmented Reality in Retail Market Overview:

Drivers:

The surge in demand for personalized and interactive shopping experiences is a significant driver behind the growth of the Augmented Reality in Retail market. AR enables retailers to offer personalized product recommendations, virtual try-on options, and enhanced visualization of products in real-world settings. This not only engages customers on a deeper level but also aids in reducing the uncertainty associated with online shopping, ultimately leading to increased sales and customer satisfaction.

Furthermore, the evolving consumer behavior towards convenience and digitalization has encouraged retailers to adopt innovative technologies like AR. This trend aligns well with the growing preference for digital and contactless shopping experiences, which AR can effectively facilitate. The ability of AR to create an interactive and engaging environment for customers while shopping online or in physical stores is a pivotal factor driving its adoption in the retail sector.

Trends:

One of the prominent trends influencing the Augmented Reality in Retail market is the integration of AR into brick-and-mortar stores. Retailers are increasingly realizing the potential of AR to transform in-store shopping experiences. By deploying AR applications such as interactive store maps, virtual product demonstrations, and in-store navigation, retailers can make the physical shopping journey more engaging and informative.

Additionally, the convergence of AR with e-commerce platforms is reshaping online shopping paradigms. AR-powered virtual try-ons and fitting rooms allow customers to visualize how products will look or fit before making a purchase, enhancing their confidence and reducing the likelihood of returns. This trend is redefining the online shopping experience and driving higher customer engagement and conversion rates.

Restraints:

A key challenge hindering the widespread adoption of Augmented Reality in Retail is the complexity of implementation and the associated costs. Developing AR applications and integrating them seamlessly with existing retail systems can be resource-intensive. Moreover, maintaining consistency and quality across various devices and platforms poses technical challenges that require substantial investment in development and testing.

Furthermore, concerns regarding user privacy and data security can impact consumer trust in AR-powered retail applications. Retailers need to establish transparent data usage policies and ensure robust security measures to address these concerns and foster customer confidence in using AR-enabled experiences.

Augmented Reality in Retail Market Segmentation by Application: Augmented Reality has made significant inroads across various retail applications, with virtual try-on and product visualization being key growth drivers. AR-powered virtual try-ons allow customers to digitally try on clothing, accessories, and even cosmetics, enhancing the online shopping experience and reducing the need for physical try-ons. Product visualization, on the other hand, enables customers to place virtual versions of products in their real-world environment, helping them assess size, style, and fit before making a purchase decision.

Augmented Reality in Retail Market Segmentation by Type: The rise of Augmented Reality technology is exemplified by the growing prominence of AR glasses and smartphone-based applications in the retail sector. AR glasses offer a hands-free, immersive experience that overlays digital information onto the user's field of view. On the other hand, smartphone-based applications leverage the ubiquity of smartphones to deliver AR experiences that empower customers to interact with products and brands using their own devices.

Regional Overview:

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The North American region is expected to play a pivotal role in the growth of the Augmented Reality in Retail market, driven by the presence of major retail players and a tech-savvy consumer base. The United States and Canada are witnessing increasing adoption of AR solutions by retailers to differentiate themselves and provide unique shopping experiences to consumers.

Furthermore, the European market is also embracing Augmented Reality in the retail landscape, with countries like the United Kingdom, Germany, and France at the forefront. Retailers in these regions are utilizing AR to attract customers, drive foot traffic to physical stores, and enhance their online platforms.

Augmented Reality in Retail Market Customer Landscape: The Augmented Reality in Retail market's customer landscape encompasses a spectrum from early adopters to those who are more cautious about embracing new technologies. Understanding this spectrum is crucial for retailers to tailor their AR strategies, focusing on education, value proposition, and creating a seamless user experience.

Major Augmented Reality in Retail Market Companies: Key players in the Augmented Reality in Retail market are leveraging strategic partnerships, acquisitions, and product innovations to position themselves in this evolving landscape. Companies like Microsoft, Google, Apple, and Facebook (Meta) are at the forefront, driving advancements in AR technology and shaping the future of retail experiences.

Segment Overview:

The Augmented Reality in Retail market report provides insights into market growth across various segments:

Application Outlook:

Virtual Try-On
Product Visualization
In-Store Navigation
Interactive Advertising
Others

Type Outlook:

AR Glasses
Smartphone Apps
AR Displays
Others

Geography Outlook:

North America

The United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
India

South America

Brazil
Argentina
Chile

Middle East & Africa

United Arab Emirates
South Africa
Saudi Arabia
Rest of the Middle East & Africa

TABLE OF CONTENTS: GLOBAL AUGMENTED REALITY IN RETAIL MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. AUGMENTED REALITY IN RETAIL MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Augmented Reality in Retail Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. AUGMENTED REALITY IN RETAIL MARKET BY Device Type INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Head Mounted Display

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Handheld Device

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Smart Augmented Reality Mirror

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. AUGMENTED REALITY IN RETAIL MARKET BY Technology INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Marker-based Augmented Reality

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Marker-less Augmented Reality

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. AUGMENTED REALITY IN RETAIL MARKET REGIONAL OUTLOOK

7.1. Augmented Reality in Retail Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Augmented Reality in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Augmented Reality in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Augmented Reality in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Augmented Reality in Retail Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Augmented Reality in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Microsoft Corporation

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2. Blippar

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3. PTC

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4. Wikitude GmbH

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5. ViewAR GmbH

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6. Apple Inc

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7. Augment

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8. Zugara Inc

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9. Google

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10. Marxent Labs

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Augmented Reality In Retail Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032