The Business Research Company’s report on the Augmented Reality (AR) In Retail Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the augmented reality (ar) in retail market further?
The increasing demand for e-commerce is expected to propel the growth of augmented reality (AR) in the retail market going forward. E-commerce refers to buying and selling goods or services over the internet, including online shopping, digital transactions, and electronic payment processing. The demand for e-commerce is rising due to convenience, wider choices, competitive pricing, mobile shopping growth, tech advancements, and shifting consumer behavior. Augmented Reality (AR) in e-commerce enhances the online shopping experience by enabling virtual product try-ons, interactive 3D product visualization, immersive store experiences, and personalized recommendations, helping customers make informed purchase decisions. For instance, in November 2024, according to the United States Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the third quarter of 2024 were estimated at $300.1 billion, reflecting a 2.6% (±0.4) increase compared to the second quarter of 2024. Therefore, increasing demand for e-commerce is driving the growth of the augmented reality (AR) in retail market.
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What are the key factors influencing the forecasted market size of the augmented reality (ar) in retail industry?
The augmented reality (AR) in retail market size has grown exponentially in recent years. It will grow from $2.68 billion in 2024 to $3.53 billion in 2025 at a compound annual growth rate (CAGR) of 31.7%. The growth in the historic period can be attributed to increased research and development, increased comfort and interest shown by customers, increased competition in e-commerce, the adoption of AR in online shopping, and an increase in the penetration of smartphones.
The augmented reality (AR) in retail market size is expected to see exponential growth in the next few years. It will grow to $10.50 billion in 2029 at a compound annual growth rate (CAGR) of 31.3%. The growth in the forecast period can be attributed to a rising number of AR users, rising investments in AR technology, increasing convenience and satisfaction, increasing adoption of digitalization, and increasing user engagement in the retail sector. Major trends in the forecast period include technological advancements, collaborations and partnerships, advancements in computer vision, and advanced analytics and machine learning algorithms.
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Who are the leading competitors in the augmented reality (ar) in retail market?
Major companies operating in the augmented reality (AR) in retail market are Amazon com Inc., Apple Inc., Microsoft Corporation, Meta Platforms inc., Lowe’s Companies Inc., Sony Group Corp., Lenovo Group Ltd., HP Inc., Qualcomm Inc., L’Oréal S.A., NVIDIA Corporation., Wayfair Inc., Snap Inc., Burberry Group plc., MAXST Co. Ltd., PTC Inc., Magic Leap Inc., Samsung Electronics Co. Ltd., HTC Corp., Kopin Corp., RealWear Inc., Vuzix Corp., Kudan Inc., NexTech AR Solutions Corp., VR Vision Inc., Blippar Limited
Which emerging trends are set to transform the augmented reality (ar) in retail market landscape?
Major companies operating in the augmented reality retail market are focusing on developing technologically advanced solutions, such as in-store augmented reality (AR) solutions, to enhance customer experiences and streamline shopping processes. In-store augmented reality (AR) solutions refer to using AR technology within physical retail stores to provide interactive experiences, such as virtual product try-ons, 3D product visualizations, and real-time information, enhancing customer engagement and decision-making. For instance, in February 2023, Vyking, Inc., a UK-based 3D and virtual try-on technology company, launched the Magic Mirror, an augmented reality solution that allows customers to try on footwear in-store virtually, launched the Magic Mirror, an augmented reality solution that will enable customers to try on footwear in-store virtually. By walking up to the smart mirror and selecting shoes from a nearby tablet, shoppers can see how different styles look on their feet without physically trying them on. This innovative technology enhances the shopping experience by reducing wait times, alleviating pressure on store staff, and enabling retailers to showcase a broader product range without needing additional physical space.
How do different geographies compare in terms of market share and growth potential in the augmented reality (ar) in retail market?
North America was the largest region in the augmented reality (AR) in retail market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented reality (AR) in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the augmented reality (ar) in retail market are experiencing the fastest growth?
The augmented reality (AR) in retail market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Marker-Based Augmented Reality, Markerless Augmented Reality, Projection-Based Augmented Reality, Superimposition Augmented Reality, Location-Based Augmented Reality
3) By Application: Product Visualization, Virtual Try-On, Interactive Marketing, In-Store Navigation, Customer Service
3) By End User: Retailers, Consumers, Content Creators
Subsegments:
1) By Hardware: AR Head-Mounted Displays (HMDs), Smart Glasses, AR Mirrors, Handheld Devices, AR Sensors And Cameras
2) By Software: AR Development Platforms, AR Mobile Applications, AR Content Management Systems, AR Analytics Software
3) By Services: Consulting Services, Integration And Deployment Services, Support And Maintenance Services
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How is the augmented reality (ar) in retail market defined, and what are its core characteristics?
Augmented reality (AR) in retail refers to the use of digital technology to overlay computer-generated images, sounds, or other sensory stimuli onto the physical world in real-time, enhancing the customer’s shopping experience. This technology allows consumers to interact with products virtually, view them in 3D, and even try them on or visualize them in their environment before purchasing.
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