Report overview
Augmented reality (AR) in retail refers to a technology that enables integration of digital information with the users environment in real time through devices such as smartphone or tablet. The need to provide enhanced customer experience, increase in internet penetration, and rise in IoT spending fuel the demand for augmented reality in the retail market.
This report aims to provide a comprehensive presentation of the global market for AR in Retail, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding AR in Retail. This report contains market size and forecasts of AR in Retail in global, including the following market information:
Global AR in Retail Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global AR in Retail market was valued at US$ 1907.4 million in 2022 and is projected to reach US$ 6498.9 million by 2029, at a CAGR of 19.1% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Based on the system, there are two mainly systems of AR in Retail, including Virtual Fitting Room and Visualizing Software. And Visualizing Software is the main system for AR in Retail, and the Visualizing Based on the application, there are two mainly application s of AR in Retail, including E-commerce and Physic Stores. And E-commerce is the main application for AR in Retail, and the E-commerce reached a market size of approximately 750 million USD in 2019, with 62.58% % of global market size. AR in Retail allows companies to significantly increase online conversion rate and reduce returns rate of products. Most of AR options provide extra information and personal customization that does not only preview product but also help customers ensure that they like it. The ability to visualize a virtual representation of products in 3D, to scale and in their intended environment, enables shoppers to make better judgments, removing the need to measure and verify dimensions. Once they have made their determinations, they may either buy directly online or go to the store to complete their purchase. Not only does this eliminate a point of friction between the consumer viewing and buying the product, but it also maximizes the probability of them being satisfied with their purchase once received, decreasing the number of returned products.Software reached a market size of approximately 734 million USD in 2019, with 61.19% of global market size. Augmented reality can help online retailers significantly reduce returns by providing an engaging ?try-before-you-buy? digital experience. Innovative AR solutions allow customers to visualise products in real time, from the comfort of their own homes. Full 3D visualisations give the opportunity for shoppers to see how products could look in their space before they commit to purchase, reducing the temptation to order multiple items to try out before choosing one and returning the others, a practice that is increasingly common.
We surveyed the AR in Retail companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global AR in Retail Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global AR in Retail Market Segment Percentages, by Type, 2022 (%)
by System
Virtual Fitting Room
Visualizing Software
by Technology
Marker-based Augmented Reality
Marker-less Augmented Reality
Global AR in Retail Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global AR in Retail Market Segment Percentages, by Application, 2022 (%)
E-commerce
Physic Stores
Global AR in Retail Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global AR in Retail Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies AR in Retail revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies AR in Retail revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Google
PTC
Apple
Microsoft
Wikitude
DAQRI
Zugara
Blippar
Marxent Labs
Augment
ViewAR
Holition
Ikea
Sephora
Amazon
Outline of Major Chapters:
Chapter 1: Introduces the definition of AR in Retail, market overview.
Chapter 2: Global AR in Retail market size in revenue.
Chapter 3: Detailed analysis of AR in Retail company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of AR in Retail in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
