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Global Augmented Reality in Retail Market Research Report 2020-2027

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Nivedita Gore

Summary - A new market study, titled “Global Augmented Reality in Retail Market Size study , By Technology (Marker Based AR, Marker less AR), by Component (Hardware, Software & Services), by Device (Head-Mounted Displays, Smart AR Mirrors, Handheld Devices) by Application (Try-On Solutions, Planning & Designing, Advertising & Marketing, Information Systems) by Retail Type (Furniture, Clothing and Accessories, Footwear, Cosmetic and others) and Regional Forecasts 2020-2027” has been featured on WiseGuyReports.

 

Global Augmented Reality in Retail Market is valued approximately at USD 10.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 46.6% over the forecast period 2020-2027. Augmented reality in retail refers to technology that allows digital information to be integrated into the user environment in real time via devices like smartphones or tablets. Augmented reality can help online retailers minimize their returns dramatically by offering an immersive digital experience of 'try-before-you-buy.' Innovative AR systems allow consumers to view goods from the comfort of their own homes in real time The need to start providing improved customer experience, enhance Internet penetration and boost IoT spending fuel demand for augmented reality in the retail market. The expansion of global augmented reality in the retail market is driven by increasing demand for online shopping, easy and convenient shopping, as well as the growth of the e-commerce market. According to Statista, an estimated 1.8 billion people worldwide are buying goods online in 2018. In the same year, global e-retail sales amounted to USD 2.8 trillion as well as projections show an increase of approximately to USD 4.8 trillion by 2021. Factors such as rising initial investment costs and an increase in privacy concerns restrict the market growth over the forecast. Increasing adoption of smart AR mirrors with in clothing industry is the opportunity factor. According to Statista, by 2023, there would be an estimated 2.4 billion mobile augmented reality (AR) users globally, up 2.2 billion from the 200 million shown in 2015. Also, it is has been estimated that there will be 1.96 billion mobile AR users around the world in 2021. In the same year, the total number of AR users in the United States alone is projected to reach 85 million.

 

Also Read: https://www.marketwatch.com/press-release/global-augmented-reality-in-retail-market-size-study-by-type-application-and-regional-forecasts-2020-2027-2020-09-18

 

The regional analysis of global Augmented Reality in Retail market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The high number of Internet users in countries like China, India and Japan is the main driver of the APAC retail market for AR. In countries like China and India, the ever-increasing Internet base will also enhance the early deployment of AR throughout the retail sector. Furniture as well as lighting and grocery shopping are expected to lead and grow at a higher rate, respectively, due to high spending in countries like China, South Korea, Japan as well as India. The highly populous region would see the AR's high growth in the retail market in the upcoming years. Increasing consumer and commercial markets with growing investments in countries like japan and China will also boost AR growth throughout the APAC retail market. E-commerce has become a key area of focus for APAC retailers, where China seems to have become the world's largest e-commerce market.

Major market player included in this report are:

Google LLC

Apple Inc.

Microsoft Corporation

Facebook Inc.

Zugara, Inc.

Wikitude GmbH

Blippar

Zappar

Augment

Viewar

 

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology

Marker Based AR

Markerless AR

by Component

Hardware

Software & Services

by Device

Head-Mounted Displays

Smart AR Mirrors

Handheld Devices

by Application

Try-On Solutions

Planning & Designing

Advertising & Marketing

Information Systems

by Retail Type

Furniture

Clothing and Accessories

Footwear

Cosmetic

others

 

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

 

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

 

Furthermore, years considered for the study are as follows:

 

Historical year – 2017, 2018

Base year – 2019

Forecast period – 2020 to 2027

 

Target Audience of the Global Augmented Reality in Retail Market in Market Study:

 

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5793285-global-augmented-reality-in-retail-market-size-study

 

About Us:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.               

 

Contact Us:

NORAH TRENT                                                      

[email protected]       

Ph: +162-825-80070 (US)                          

Ph: +44 2035002763 (UK)      

 

 

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