The report "Augmented Reality (AR) Shopping Market by Device Type (HMD, Smart Mirror, Handheld Device), Application (Try-on Solution, Planning & Designing, Information System), Market Type (Apparel, Jewelry, Groceries), Offering and Region - Global Forecast to 2028" The augmented reality (AR) shopping market is expected to reach USD 11.6 billion by 2028 from USD 3.4 billion in 2023, at a CAGR of 28.0% from 2023 to 2028. Increasing adoption of online shopping and e-commerce platforms, growing demand for personalized shopping experience, and increasing smartphone penetration are some of the major factors contributing to the growth of AR shopping market.
Browse 211 market data Tables and 69 Figures spread through 268 Pages and in-depth TOC on "Augmented Reality (AR) Shopping Market by Device Type (HMD, Smart Mirror, Handheld Device), Application (Try-on Solution, Planning & Designing, Information System), Market Type (Apparel, Jewelry, Groceries), Offering and Region - Global Forecast to 2028 "
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/augmented-reality-ar-shopping-market-26449280.html
E-commerce to dominate the AR shopping market from 2023 to 2028.
Online shopping and e-commerce platforms offer convenience, realistic product interactions, and enhanced differentiation for retailers. AR technology improves the shopping experience by facilitating customers to virtually interact with products and helping them to make informed purchasing decisions without physical being in the store. AR shopping platforms also increase customer satisfaction, improve marketing campaigns, thereby driving sales. The growing adoption of e-commerce platforms is expected to create growth opportunities for market players offering AR solutions for shopping.
Hardware to register the highest CAGR in the AR shopping market during the forecast period.
AR shopping hardware is expected to register a higher CAGR from 2023 to 2028. The growing demand and increased adoption of head mounted displays (HMDs), and smart mirrors in retail stores is a major factor contributing to the growth of the hardware market. These devices use components such as displays to superimpose virtual elements onto the real world, thereby improving the shopping experience of the consumer.
North America accounted for the largest share of the market in 2022.
Presence of several AR software and service providers and increasing investments related to the retail sector are the major factors driving the market growth in North America. Furthermore, the growing number of devices such as smartphones, tablets and HMDs in the region are also expected to create opportunities for increased adoption of AR especially for e-commerce.
The report profiles key players such as PTC (US), Alphabet Inc., (US), Microsoft (US), Apple (US), Meta (US), Seiko Epson Corporation (Japan), Wikitude GmbH (Austria), Magic Leap, Inc. (US), 3D Cloud by Marxent (US), Vuzix (US), Blippar (UK). These players have adopted various organic and inorganic growth strategies such as product launches, partnerships, collaborations, acquisitions, and joint ventures.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441