What is Global AR in Retail Market?
The Global AR in Retail Market is an innovative and rapidly growing sector that is revolutionizing the way we shop. Augmented Reality (AR) in retail refers to the integration of digital information with the user's environment in real time. This technology allows consumers to interact with products in a virtual environment before making a purchase. It enhances the shopping experience by providing a more engaging and immersive way to explore products. AR in retail is not just limited to online shopping; it is also being used in physical stores to provide customers with a unique and personalized shopping experience.
by System, Virtual Fitting Room, Visualizing Software, by Technology, Marker-based Augmented Reality, Marker-less Augmented Reality in the Global AR in Retail Market:
The Global AR in Retail Market is segmented by system, virtual fitting room, visualizing software, and by technology. The virtual fitting room allows customers to try on clothes virtually, eliminating the need for physical fitting rooms. This not only saves time but also provides a more convenient and comfortable shopping experience. Visualizing software, on the other hand, allows customers to visualize how a product would look in their home or office. This helps them make more informed purchasing decisions. The market is also segmented by technology into marker-based and marker-less augmented reality. Marker-based AR uses a camera and a visual marker to create a 3D representation of a product, while marker-less AR uses complex algorithms to recognize objects and overlay digital information.
E-commerce, Physic Stores in the Global AR in Retail Market:
The use of AR in retail is not limited to physical stores; it is also being used in e-commerce. With the help of AR, online shoppers can virtually try on clothes, shoes, or accessories before making a purchase. This not only enhances the shopping experience but also reduces the chances of product returns. In physical stores, AR is being used to provide customers with a unique and personalized shopping experience. Customers can use their smartphones to scan products and get additional information such as product details, reviews, and price comparisons. This not only enhances the shopping experience but also helps retailers to increase sales and customer engagement.
Global AR in Retail Market Outlook:
Looking at the market outlook, the Global AR in Retail Market was valued at a significant US$ 1853.7 million in 2023. The market is expected to witness substantial growth, reaching an impressive value of US$ 6736.2 million by 2030. This growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 20.0% during the forecast period from 2024 to 2030. This indicates a promising future for the AR in Retail Market, with increasing adoption and integration of this technology in the retail sector.
| Report Metric | Details |
| Report Name | AR in Retail Market |
| Accounted market size in 2023 | US$ 1853.7 million |
| Forecasted market size in 2030 | US$ 6736.2 million |
| CAGR | 20.0% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Google, PTC, Apple, Microsoft, Wikitude, DAQRI, Zugara, Blippar, Marxent Labs, Augment, ViewAR, Holition, Ikea, Sephora, Amazon |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
