[Latest] Global Augmented Reality in Retail Market Size/Share Worth USD 62.3 Billion by 2033 at a 41.7% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Augmented Reality in Retail Market Size, Trends and Insights By Component (Hardware, Software, Services), By Device Type (Head Mounted Display, Smart AR Mirror, Handheld Device), By Application (Information Systems, Advertising and Marketing, Try on Solutions, Planning and Designing), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Augmented Reality in Retail Market size & share was valued at approximately USD 2.4 Billion in 2023 and is expected to reach USD 4.2 Billion in 2024 and is expected to reach a value of around USD 62.3 Billion by 2033, at a compound annual growth rate (CAGR) of about 41.7% during the forecast period 2024 to 2033.”
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Augmented Reality in Retail Market: Overview
Augmented reality (AR) continues to reshape the retail landscape, with several key trends driving innovation and consumer engagement.
Personalized shopping experiences are gaining momentum, as AR enables retailers to tailor product recommendations and virtual try-on experiences based on individual preferences and past behavior. This customization enhances customer satisfaction and increases conversion rates.
Secondly, AR-powered virtual try-on solutions are becoming increasingly sophisticated, allowing consumers to visualize products such as clothing, cosmetics, and furniture in real time, thereby reducing the need for physical store visits and minimizing returns.
Thirdly, the integration of AR into marketing campaigns and product launches is on the rise, as retailers leverage immersive storytelling and interactive experiences to captivate audiences and drive brand engagement. Fourthly, advancements in AR technology, including wearable devices and spatial computing, are expanding the possibilities for immersive retail experiences both in-store and online.
Finally, the COVID-19 pandemic has accelerated the adoption of AR-driven contactless shopping solutions, such as virtual tours and remote assistance, further cementing AR as a crucial tool for enhancing safety and convenience in retail environments.
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By Component, the Software segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Software is a subset of artificial intelligence that enables computers to learn from data and improve performance on specific tasks without being explicitly programmed.
By Device Type, Head Mounted Display segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. A Head-Mounted Display (HMD) is a wearable device that presents virtual reality (VR) or augmented reality (AR) content directly in front of the user’s eyes.
By Application, the Information systems segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Information systems (IS) encompass the combination of hardware, software, data, procedures, and people that are used to collect, process, store, and distribute information within an organization.
North America leads in augmented reality retail, with companies like Apple, Google, and Microsoft driving innovation, enhancing shopping experiences, and reshaping consumer engagement through immersive technologies.
Blippar Group Limited uses the camera on your smartphone or tablet to recognize images and real-world objects and show digital content right on top. When you scan something, we use artificial intelligence to find relevant content.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 4.2 Billion |
| Projected Market Size in 2033 | USD 62.3 Billion |
| Market Size in 2023 | USD 2.4 Billion |
| CAGR Growth Rate | 41.7% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Component, Device Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Augmented Reality in Retail report is available upon request; please contact us for more information.)
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Augmented Reality in Retail report has been modified to include the COVID-19 impact study prior to delivery.)
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CMI has comprehensively analyzed Global Augmented Reality in Retail market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Augmented Reality in the Retail industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
Key questions answered in this report:
- What is the size of the Augmented Reality in Retail market and what is its expected growth rate?
- What are the primary driving factors that push the Augmented Reality in Retail market forward?
- What are the Augmented Reality in Retail Industry's top companies?
- What are the different categories that the Augmented Reality in Retail Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Augmented Reality in Retail market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Augmented Reality in Retail Market: Regional Analysis
By region, Augmented Reality in Retail market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global Augmented Reality in Retail market in 2023 with a market share of 42.5% and is expected to keep its dominance during the forecast period 2024-2033.
North America is at the forefront of driving augmented reality (AR) in the retail market due to its technological innovation and consumer readiness. Leading tech companies, such as Apple and Google, are based in the region and continuously develop sophisticated AR platforms and tools that retailers can integrate into their marketing and sales strategies.
Retail giants like Walmart and IKEA have adopted AR to enhance the shopping experience, allowing customers to visualize products in their homes before purchasing. This trend is fuelled by high smartphone penetration and advanced internet infrastructure, facilitating seamless AR experiences.
North America’s strong emphasis on e-commerce and digital transformation, combined with a tech-savvy population, provides fertile ground for AR innovations. Furthermore, investment in AR startups and collaborations between tech firms and retail businesses contribute to the dynamic growth of AR applications in the retail sector.
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List of the prominent players in the Augmented Reality in Retail Market:
- PTC Blippar Group Limited
- Holition Ltd.
- INDE
- Imaginate Technologies
- ViewAR GmbH
- Inter IKEA Systems B.V
- Wikitude
- Marxent Labs
- Kudan
- Sephora USA Inc.
- Apple Inc.
- Amazon com Inc.
- Augment
- Microsoft Corporation
- Zugara Inc.
- Vuforia
- Maxst
- Inglobe Technologies
- Others
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The Augmented Reality in Retail Market is segmented as follows:
By Component
- Hardware
- Software
- Services
By Device Type
- Head Mounted Display
- Smart AR Mirror
- Handheld Device
By Application
- Information Systems
- Advertising and Marketing
- Try on Solutions
- Planning and Designing
Click Here to Get a Free Sample Report of the Global Augmented Reality in Retail Market @ https://www.custommarketinsights.com/report/augmented-reality-in-retail-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Augmented Reality in Retail Market Research/Analysis Report Contains Answers to the following Questions.
- What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Augmented Reality in Retail Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Augmented Reality in Retail Market? What Was the Capacity, Production Value, Cost and PROFIT of the Augmented Reality in Retail Market?
- What Is the Current Market Status of the Augmented Reality in Retail Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Augmented Reality in Retail Market by Considering Applications and Types?
- What Are Projections of the Global Augmented Reality in Retail Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Augmented Reality in Retail Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Augmented Reality in Retail Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Augmented Reality in Retail Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Augmented Reality in Retail Industry?
Click Here to Access a Free Sample Report of the Global Augmented Reality in Retail Market @ https://www.custommarketinsights.com/report/augmented-reality-in-retail-market/
Reasons to Purchase Augmented Reality in Retail Market Report
- Augmented Reality in Retail Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Augmented Reality in Retail Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Augmented Reality in Retail Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Augmented Reality in Retail Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Augmented Reality in Retail market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Augmented Reality in Retail market analysis.
- The competitive environment of current and potential participants in the Augmented Reality in Retail market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Augmented Reality in Retail market should find this report useful. The research will be useful to all market participants in the Augmented Reality in Retail industry.
- Managers in the Augmented Reality in Retail sector are interested in publishing up-to-date and projected data about the worldwide Augmented Reality in Retail market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Augmented Reality in Retail products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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