Categories: Market Research

Augmented Reality In Marketing Market Growth Outlook Through 2024-2033

Overview and Scope
Augmented reality (AR) in marketing refers to the real-time integration of digital information and techniques used for marketing. This enables businesses to enhance their marketing and increase engagement through mobile devices and provide clients with distinctive experiences.

Sizing and Forecast
The augmented reality in marketing market size has grown rapidly in recent years. It will grow from $4.73 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to enhanced consumer engagement, novelty and innovation appeal, brand differentiation strategies, increased smartphone adoption, interactive product visualization..

The augmented reality in marketing market size is expected to see rapid growth in the next few years. It will grow to $8.82 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to growing e-commerce integration, expanded social media applications, adoption in event marketing, enhanced data analytics and insights.. Major trends in the forecast period include implementation for virtual try-on experiences, development of ar-enhanced packaging, incorporation in location-based marketing, expansion in event marketing, utilization of ar analytics for performance measurement..

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Segmentation & Regional Insights
The augmented reality in marketing market covered in this report is segmented –

1) By Component: Hardware, Software
2) By Device Type: Head-Mounted Display & Smart Glass, Head-Up Display, Handheld Devices, Stationary AR systems, Smart Glasses, Other Types
3) By Technology: Marker-Based AR Technology, Markerless AR Technology, Anchor-Based AR Technology
4) By Application: Consumer, Commercial, Enterprise, Healthcare, Aerospace And Defense, Energy, Automotive, Other Applications

North America was the largest market share in the augmented reality in marketing market in 2023. The regions covered in the augmented reality in marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growing demand for AR in retail and e-commerce sectors is expected to propel the growth of augmented reality in the marketing market going forward. Retail is the sale of products from individuals or businesses to final consumers whereas e-commerce is the trading of goods and services on the internet. The use of augmented reality (AR) in retail would force brands to create clever retail experiences that influence their customers’ purchasing decisions, as well as in e-commerce by allowing customers to digitally test a product in the comfort of their own home, or even on their own face and body using AR filters, which helps brands reduce return rates. For instance, in July 2022, according to Shopify, a Canada-based e-commerce company, retail conversion rates for brands adopting augmented reality increased by almost 250%. Further, according to Houzz, a US-based online community and software for architecture and others customers that used AR used the app for 2.7 times longer and made purchases 11 times more frequently. Therefore, the growing demand for AR in retail and e-commerce sectors will drive the growth of augmented reality in the marketing.

Key Industry Players

Major companies operating in the augmented reality in marketing market report are Microsoft Corporation, Google LLC, Sony Corporation, Magic Leap Incorporated, Wikitude GmbH, Zugara Inc., Apple Inc., Blippar Limited, Infinity Augmented Reality Limited, Niantic Inc., Zappar Limited., PTC Inc., Daqri LLC, Lenovo, Seiko Epson, Vuzix, Alphabet Inc., Meta Platforms Inc., Snapchat, HP Autonomy, Augment, Marxent, Catchoom, Vuforia (PTC), Viewar, Upskill, Scope AR, Adtile Technologies, Inlighten, Total Immersion, Re’Flekt, Vertebrae, 8th Wall Inc., Mirum Agency, INDEstry, Third Aurora

The augmented reality in marketing market report table of contents includes:

1. Executive Summary

2. Augmented Reality In Marketing Market Characteristics

3. Augmented Reality In Marketing Market Trends And Strategies

4. Augmented Reality In Marketing Market – Macro Economic Scenario

5. Global Augmented Reality In Marketing Market Size and Growth

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31. Global Augmented Reality In Marketing Market Competitive Benchmarking

32. Global Augmented Reality In Marketing Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Augmented Reality In Marketing Market

34. Augmented Reality In Marketing Market Future Outlook and Potential Analysis

35. Appendix