Augmented Reality in Retail Market

Augmented Reality in Retail Market worth $11.4 billion by 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.

Browse 74 market data Tables and 40 Figures spread through 153 Pages and in-depth TOC on "Augmented Reality in Retail Market - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/augmented-reality-retail-market-77516130.html

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.

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.

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.

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.

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.

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).

Don’t miss out on business opportunities in Augmented Reality in Retail Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

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’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.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
SE 6425
PR Published ON
7/16/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Augmented Reality in Retail Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home