Augmented Reality in Retail Market Share, Statistics, Size, Share, Regional Analysis by Key Players | Industry Forecast to 2027

 

The global augmented reality in retail market is forecast to reach a market size of USD 18.05 Billion by 2027, and register a significantly high CAGR over the next seven years, according to a new report by Reports and Data. Growing demand for augmented reality in retail can be attributed to increasing growth of the e-Commerce industry. The e-Commerce industry is witnessing rapid growth owing to high Internet speed, increasing smartphone penetration, easy accessibility to such platforms, convenience for customers to shop from any place and at any time, and others. Augmented reality enables e-Commerce customers to virtually experience the products while shopping, which helps to build brand engagement. For instance, “See It In Your Space” and “Try Before You Buy” augmented reality are quite popular with e-Commerce customers. The fashion and beauty industry provides customers “Try Before You Buy” augmented reality features, thereby enabling them to experience the look of the product on themselves before making a purchase.

Growing demand for personalized retail products is garnering significant traction in the retail industry, and augmented reality plays an essential role in bridging any gaps related to changing preferences. Providing a custom-made product takes a considerable amount of time and the final output depends on a customer’s specific requirement or perception. Augmented reality in retail assists in eliminating such issues by enabling generation of virtual versions of the product to be personalized. For instance, Nike’s Makers’ Experience merges object tracking, augmented reality, and projection technology (deploying Internet of Things and Artificial Intelligence), along with digital signage to allow a custom-made design to overlay on sneakers.

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The market research report is a comprehensive analysis of framework and current and future growth prospect of the Augmented Reality in Retail market. The report enables the readers and clients to maximize on the lucrative growth opportunities of the niche sectors of the market and gain a competitive advantage over others. The report has been divided into segments to help users clearly understand each area in depth.

Key players in the global Augmented Reality in Retail market include Microsoft Corporation, Blippar, PTC, Wikitude GmbH, ViewAR GmbH, Apple Inc., Augment, Zugara Inc., Google, and Marxent Labs.

The key statistical data offered in the report are crucial for investors and stakeholders in making data-driven decisions. The market overview offers an extensive analysis of the market that enables readers to understand the current and future market scenario along with market share, market size, revenue growth, existing and emerging trends, and a comprehensive value chain analysis. The report also leverages key analytical and statistical tools to provide accurate forecast. SWOT analysis and Porter’s Five Forces analysis are covered in the report along with feasibility analysis and investment return analysis.

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The segmentation section bifurcates the global Augmented Reality in Retail market based on product types, services, applications, end-use, technology, and regions. The report also discusses in details key factors influencing the growth of the market and revenue growth of each segment.

Regions covered by the Augmented Reality in Retail Market Report:

·       North America

·       Europe

·       Asia Pacific

·       Latin America

·       Middle East & Africa

Device Type Outlook (Revenue, USD Billion; 2017-2027)

Head Mounted Display

Handheld Device

Smart Augmented Reality Mirror

Technology Outlook (Revenue, USD Billion; 2017-2027)

Marker-based Augmented Reality

Marker-less Augmented Reality

Retail Product Type Outlook (Revenue, USD Billion; 2017-2027)

Furniture

Clothing

Groceries

Shoes

Jewelry

Toys

Makeup

Key Objectives of the Augmented Reality in Retail Market Report:

·       In-depth analysis of the overall industry outlook with recent trends and market dynamics

·       Assessment of growth opportunities and prospects of the Augmented Reality in Retail market over the forecast period

·       Regional and country-wise analysis to analyze the key aspects influencing the market growth

·       Competitive landscape mapping including company overview, business expansion plans, market position, revenue contribution, financial standing, and strategic alliances adopted by the key companies

·       Assists in decision making process by offering comprehensive entry-level research

·       Analysis of key growth drivers and restraints, threats, challenges, limitations, growth opportunities and prospects.

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