Augmented Reality in Retail Market | Industry Analysis and Market Size Forecast to 2025
The report "Augmented Reality in Retail Market
by Offering (Hardware and Software), Device Type (Head-Mounted, Smart
AR Mirror), Application (Try-On Solution, Planning & Designing),
Retail Type (Furniture, Beauty & Cosmetics), and Geography - Global
Forecast to 2025", is expected to grow from USD 1.2 billion
in 2018 to USD 11.4 billion by 2025, at a CAGR of 38.8% between 2018
and 2025. Increasing online shopping encourages retailers to adopt AR,
rising smartphone penetration which are driving the growth of AR apps,
and growing adoption of connected devices are the major factors driving
the growth of the AR in retail market.
by Offering (Hardware and Software), Device Type (Head-Mounted, Smart
AR Mirror), Application (Try-On Solution, Planning & Designing),
Retail Type (Furniture, Beauty & Cosmetics), and Geography - Global
Forecast to 2025", is expected to grow from USD 1.2 billion
in 2018 to USD 11.4 billion by 2025, at a CAGR of 38.8% between 2018
and 2025. Increasing online shopping encourages retailers to adopt AR,
rising smartphone penetration which are driving the growth of AR apps,
and growing adoption of connected devices are the major factors driving
the growth of the AR in retail market.
Download PDF Brochure @
AR software and services will hold the larger share of AR in retail market by 2025
Increasing penetration of AR software solutions and
its compatibility with existing hardware devices is expected to help the
growth of the market for software, thereby driving the AR in retail
market during the forecast period. The apps are the major source of
revenue for the AR in retail market. Companies focus on building
different mobile-based AR apps to attract customers using smartphones or
tablets. This increases user base due to the use of currently available
devices. The market for software is set to grow because of the high
growth of apps and platforms in the AR space.
its compatibility with existing hardware devices is expected to help the
growth of the market for software, thereby driving the AR in retail
market during the forecast period. The apps are the major source of
revenue for the AR in retail market. Companies focus on building
different mobile-based AR apps to attract customers using smartphones or
tablets. This increases user base due to the use of currently available
devices. The market for software is set to grow because of the high
growth of apps and platforms in the AR space.
HMDs are leading the augmented reality in retail market
The major use case for HMDs in the retail sector is
its use as the information viewing system. Sales personnel can use HMDs
for real-time assistance. Currently, the adoption of HMDs by end users
for information viewing is low; however, the surge in its adoption can
be witnessed if AR smartglasses are used as interface instead of
smartphones. In the retail sector, smart glasses are expected to be used
on a large scale for the workforce and sales management purposes.
its use as the information viewing system. Sales personnel can use HMDs
for real-time assistance. Currently, the adoption of HMDs by end users
for information viewing is low; however, the surge in its adoption can
be witnessed if AR smartglasses are used as interface instead of
smartphones. In the retail sector, smart glasses are expected to be used
on a large scale for the workforce and sales management purposes.
Advertising and marketing application to grow at high rate in augmented reality in retail market
The advertising and marketing application is among
the major AR applications that increases customer engagement. AR makes
advertising more interactive, allowing advertisers and marketers to
reach out to customers in new and improved ways. The increase in the
adoption of AR relies on major parameters such as the emotional
connection with AR, economical advertising with more engagement, sales
boost, and improvement in hyperlocal advertising.
the major AR applications that increases customer engagement. AR makes
advertising more interactive, allowing advertisers and marketers to
reach out to customers in new and improved ways. The increase in the
adoption of AR relies on major parameters such as the emotional
connection with AR, economical advertising with more engagement, sales
boost, and improvement in hyperlocal advertising.
Furniture & lighting will hold the largest share in augmented reality in retail market
The adoption of AR has been gaining traction among
furniture and lighting retailers. Increasing online furniture shopping
has been a major boost to furniture retailers. Retailers are trying to
come up with various techniques to woo customers. The use of AR helps
users to virtually place the selected furniture at the desired location
using apps through devices such as smartphones and tablets. The enhanced
experience provided to customers with the ease of buying would be the
key driver for the implementation of augmented reality in furniture and
lighting. Also, by adopting AR, customers can conveniently choose
interiors, thereby driving the growth of the AR in retail market for
furniture and lighting.
furniture and lighting retailers. Increasing online furniture shopping
has been a major boost to furniture retailers. Retailers are trying to
come up with various techniques to woo customers. The use of AR helps
users to virtually place the selected furniture at the desired location
using apps through devices such as smartphones and tablets. The enhanced
experience provided to customers with the ease of buying would be the
key driver for the implementation of augmented reality in furniture and
lighting. Also, by adopting AR, customers can conveniently choose
interiors, thereby driving the growth of the AR in retail market for
furniture and lighting.
APAC to be the fastest growing market for augmented reality in retail during forecast period
The high number of internet users in countries such
as China, India, and Japan is the major driver of the AR in retail
market in APAC. In countries such as China and India, the ever-growing
internet base would boost the early deployment of AR in the retail
sector. The furniture and lighting, and grocery shopping are set to lead
and grow at a higher rate, respectively, owing to the high spending in
the countries such as China, South Korea, Japan, and India. The highly
populous region would witness a high growth of the AR in retail market
during the forecast period.
as China, India, and Japan is the major driver of the AR in retail
market in APAC. In countries such as China and India, the ever-growing
internet base would boost the early deployment of AR in the retail
sector. The furniture and lighting, and grocery shopping are set to lead
and grow at a higher rate, respectively, owing to the high spending in
the countries such as China, South Korea, Japan, and India. The highly
populous region would witness a high growth of the AR in retail market
during the forecast period.
Major players in the augmented reality in retail
market are PTC (US), Google (US), Apple (US), Microsoft (US), Wikitude
(Austria), Blippar (UK), Zugara (US), Marxent Labs (US), Augment
(France), and ViewAR (Austria). The other players profiled in the report
include Holition (UK), Ikea (Netherlands), Sephora (France), Amazon
(US), Imaginate Technologies (India), Kudan (UK), Total Immersion
(France), and INDE (UK). The start-up ecosystem includes Ads Reality
(UK), XZIMG (China), VisionStar Information Technology (China), Zappar
(UK), and Obsess (US).
market are PTC (US), Google (US), Apple (US), Microsoft (US), Wikitude
(Austria), Blippar (UK), Zugara (US), Marxent Labs (US), Augment
(France), and ViewAR (Austria). The other players profiled in the report
include Holition (UK), Ikea (Netherlands), Sephora (France), Amazon
(US), Imaginate Technologies (India), Kudan (UK), Total Immersion
(France), and INDE (UK). The start-up ecosystem includes Ads Reality
(UK), XZIMG (China), VisionStar Information Technology (China), Zappar
(UK), and Obsess (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research
on 30,000 high growth niche opportunities/threats which will impact 70%
to 80% of worldwide companies’ revenues. Currently servicing 7500
customers worldwide including 80% of global Fortune 1000 companies as
clients. Almost 75,000 top officers across eight industries worldwide
approach MarketsandMarkets™ for their painpoints around revenues
decisions.
on 30,000 high growth niche opportunities/threats which will impact 70%
to 80% of worldwide companies’ revenues. Currently servicing 7500
customers worldwide including 80% of global Fortune 1000 companies as
clients. Almost 75,000 top officers across eight industries worldwide
approach MarketsandMarkets™ for their painpoints around revenues
decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
"Growth Engagement Model – GEM". The GEM aims at proactive
collaboration with the clients to identify new opportunities, identify
most important customers, write "Attack, avoid and defend" strategies,
identify sources of incremental revenues for both the company and its
competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies
this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research
ahead of the curve.
MarketsandMarkets™ are tracking global high growth markets following the
"Growth Engagement Model – GEM". The GEM aims at proactive
collaboration with the clients to identify new opportunities, identify
most important customers, write "Attack, avoid and defend" strategies,
identify sources of incremental revenues for both the company and its
competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies
this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research
ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence
and market research platform, "Knowledgestore" connects over 200,000
markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
and market research platform, "Knowledgestore" connects over 200,000
markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments: