The Business Research Company’s report on the Augmented Reality (AR) Shopping Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the augmented reality (ar) shopping market’s growth in recent years?
The increasing availability of smartphones is expected to drive the growth of the augmented reality (AR) shopping market going forward. Smartphone adoption is high due to their affordability, multifunctionality, and seamless connectivity, meeting diverse consumer needs in a compact device. Smartphones enable augmented reality (AR) shopping by allowing users to visualize products in real-time, enhancing the online shopping experience with interactive and immersive features. For instance, in February 2024, according to Uswitch Limited, a UK-based provider of comparison and switching services, the UK had 71.8 million mobile connections at the beginning of 2022, exceeding the population by 4.2 million and reflecting a 3.8% growth (approximately 2.6 million) from 2021. By 2025, the UK population is projected to reach 68.3 million, with 95% (around 65 million people) expected to be smartphone users. Therefore, the increasing availability of smartphones will drive the growth of the augmented reality (AR) shopping market.
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How does the future projection of the augmented reality (ar) shopping market size compare to its historical growth?
The augmented reality (AR) shopping market size has grown exponentially in recent years. It will grow from $6.11 billion in 2024 to $ billion in 2025 at a compound annual growth rate (CAGR) of 32.3%. The growth in the historic period can be attributed to government investments in augmented reality, consumer demand for immersive shopping experiences, rising e-commerce adoption globally, growth of online social commerce, need for personalized shopping solutions.
The augmented reality (AR) shopping market size is expected to see exponential growth in the next few years. It will grow to $24.54 billion in 2029 at a compound annual growth rate (CAGR) of 32.0%. The growth in the forecast period can be attributed to increase in millennial and gen z spending power, growth of ai for augmented reality shopping personalization, increasing importance of sustainable shopping, surge in direct-to-consumer retail channels, increase in smart phone penetration. Major trends in the forecast period include partnerships between tech firms and retail brands, integration of augmented reality in e-commerce platforms, development of augmented reality glasses for hands-free shopping, introduction of gamification in augmented reality shopping, development of 3d product catalogs with augmented reality.
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Which key players are shaping the future of the augmented reality (ar) shopping market?
Major companies operating in the augmented reality (AR) shopping market are Amazon.com Inc., Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Inter Ikea Systems BV, Qualcomm Technologies, Inc., Wayfair Inc., Seiko Epson Corporation, Burberry Group Plc, PTC Inc., Converse Inc., Warby Parker Inc., Houzz Inc., Magic Leap Inc., Rebecca Minkoff LLC, StayinFront Inc., 3D Cloud by Marxent (Marxent Labs LLC), Blippar Ltd., Vuzix Corporation, Wikitude GmbH, Holition Ltd., ViewAR GmbH, Zugara Inc., Imaginate Technologies
What trends will propel the growth and evolution of the augmented reality (ar) shopping market?
Major companies operating in the augmented reality (AR) shopping market are focusing on developing technologically advanced solutions, such as augmented reality shopping tools, to provide an immersive and interactive experience. An augmented reality shopping tool is a technology that uses AR to overlay digital information or virtual representations of products onto the real world, enhancing the shopping experience by enabling interactive product visualization and customization. For instance, in June 2022, Burberry, a UK-based luxury fashion house, launched an AR viewer, an augmented reality shopping tool. The AR feature on Burberry.com allows customers to interact with the brand’s signature bag by virtually placing a true-to-scale 3D model in their surroundings. Using a smartphone, users can scan their environment to position the bag in real-world settings, such as on a table next to personal items to gauge its size or against their outfit to visualize color contrasts, simulating an in-store experience.
Which regions are expected to become dominant players in the augmented reality (ar) shopping market?
North America was the largest region in the augmented reality (AR) shopping market in 2024. The regions covered in the augmented reality (AR) shopping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the augmented reality (ar) shopping market, and how are they evolving?
The augmented reality (AR) shopping market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By AR Technology: Marker-Based AR, Markerless AR
3) By Application: Automotive, Home Goods And Furniture, Beauty And Cosmetics, Apparel Fittings, Grocery Shopping, Footwear, Other Applications
4) By End Use: Retail And In-Store, E-Commerce And Out of Store
Subsegments:
1) By Hardware: Augmented Reality Smart Glasses, Augmented Reality Head-Mounted Displays, Augmented Reality-Enabled Smartphones And Tablets, Augmented Reality Mirrors And Kiosks, Augmented Reality Sensors And Cameras
2) By Software: Augmented Reality Shopping Applications, Artificial Intelligence-Powered Virtual Try-On Solutions, Augmented Reality-Powered Product Visualization Tools, Web-Based Augmented Reality Shopping Platforms, Augmented Reality Content Creation And Management Software
3) By Services: Augmented Reality Integration And Deployment Services, Augmented Reality Shopping Experience Consulting, Custom Augmented Reality Application Development, Maintenance And Support Services For AR Solutions, Augmented Reality Marketing And Advertising Solutions
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What defines the structure and scope of the augmented reality (ar) shopping market?
Augmented reality (AR) shopping refers to the use of AR technology to enhance the consumer shopping experience by blending virtual elements with the real world. It allows users to visualize products in 3D, try on items virtually, and interact with interactive features through their smartphones or AR glasses. This technology enables a more immersive, personalized, and engaging shopping experience, particularly in eCommerce and retail environments.
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