Augmented Reality In Retail Market Research Report: By Technology (Marker-based AR, Markerless AR, Projection-based AR, Superimposition AR, Location-based AR), By Application (Product Visualization, Virtual Try-On, Interactive Marketing, In-Store Navigation, Customer Service), By Device (Smartphones, Tablets, Smart Glasses, Head-Mounted Displays), By End User (Retailers, Consumers, Content Creators) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032.

Augmented Reality In Retail Market Overview

Augmented Reality In Retail Market Size was estimated at 14.55 (USD Billion) in 2022. The Augmented Reality In Retail Market Industry is expected to grow from 18.4(USD Billion) in 2023 to 152.0 (USD Billion) by 2032. The Augmented Reality In Retail Market CAGR (growth rate) is expected to be around 26.44% during the forecast period (2024 - 2032).

Key Augmented Reality In Retail Market Trends Highlighted

The integration of augmented reality (AR) in the retail sector is revolutionizing the shopping experience. Several key trends shape the market's trajectory:

Key Market Drivers

The rise of mobile devices with AR capabilities, advancements in computer vision, and the demand for immersive customer experiences drive the adoption of AR in retail.

Emerging Opportunities

AR presents opportunities for retailers to enhance product visualization, provide personalized recommendations, and create interactive in-store experiences that drive engagement and sales.

Recent Trends

Technological advancements, such as AI-powered AR applications, enable real-time product recognition and 3D product models, enhancing the accuracy and convenience of AR shopping. Additionally, the integration of AR into virtual assistants and mobile shopping apps streamlines the customer journey and bridges the gap between online and offline retail channels.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Augmented Reality In Retail Market Drivers

Growing Adoption of Smartphones and Tablets

The increasing penetration of smartphones and tablets has been a major driver of growth for the global augmented reality retail market. These devices provide users with the ability to access AR applications and experiences, which can be used to enhance the shopping experience. For instance, customers can use AR apps to visualize how furniture will look in their homes before they purchase it or to try on clothes virtually to see how they fit. As the adoption of smartphones and tablets continues to grow, it is expected to further drive the demand for AR in retail applications.

Rising Demand for Personalized Shopping Experiences

Consumers are increasingly demanding personalized shopping experiences, and AR can play a significant role in meeting this demand. AR apps can be used to provide customers with tailored product recommendations based on their past purchases and browsing history. Additionally, AR can be used to create interactive experiences that allow customers to learn more about products and make more informed purchasing decisions.

Advancements in AR Technology

The rapid advancements in AR technology are also contributing to the growth of the global augmented reality in the retail market. These advancements include the development of more sophisticated AR headsets and software, which are making AR experiences more immersive and user-friendly. As AR technology continues to evolve, it is expected to open up new possibilities for AR in retail applications.

Augmented Reality In Retail Market Segment Insights

Augmented Reality In Retail Market Technology Insights  

Technology Segment Insights and Overview The technology segment of the Augmented Reality In Retail Market is expected to witness significant growth in the coming years, driven by advancements in computer vision, artificial intelligence, and mobile technology. The segment is segmented into marker-based AR, markerless AR, projection-based AR, superimposition AR, and location-based AR. Marker-based AR is the most widely used technology in the retail sector, accounting for the largest share of the market in 2023. Marker-based AR systems use physical markers, such as QR codes or image recognition, to trigger AR experiences.

This technology is commonly used for product information, interactive games, and virtual try-ons. Markerless AR is a more advanced technology that does not require physical markers. Instead, markerless AR systems use computer vision to track the user's environment and place virtual objects in the real world. This technology offers a more immersive and natural AR experience, and is expected to gain traction in the retail sector in the coming years. Projection-based AR systems project images or videos onto physical surfaces, creating an interactive AR experience.

This technology is often used for product demonstrations, interactive displays, and wayfinding. Projection-based AR offers a unique and engaging way to interact with products and services, and is expected to see increased adoption in the retail sector. Superimposition AR is a technology that overlays digital content onto the real world, without the need for markers or projection. This technology is commonly used for product visualization, virtual try-ons, and interactive games. Superimposition AR offers a realistic and immersive AR experience, and is expected to gain popularity in the retail sector in the coming years.

Location-based AR is a technology that uses GPS and other location data to trigger AR experiences based on the user's location. This technology is commonly used for wayfinding, local recommendations, and scavenger hunts. Location-based AR offers a convenient and personalized AR experience, and is expected to see increased adoption in the retail sector in the coming years. Overall, the technology segment of the Augmented Reality In Retail Market is expected to witness significant growth in the coming years, driven by advancements in technology and increasing adoption in the retail sector.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Augmented Reality In Retail Market Application Insights  

The application segment plays a crucial role in shaping the Augmented Reality In Retail Market landscape. Product visualization, virtual try-on, interactive marketing, in-store navigation, and customer service are key applications driving market growth. Product visualization allows customers to experience products virtually, enhancing their shopping experience. Virtual try-on enables customers to virtually try on products, reducing returns and improving customer satisfaction. Interactive marketing campaigns leverage AR to engage customers, increasing brand awareness and recall.

In-store navigation assists customers in locating products and optimizing their shopping journey. Customer service applications provide real-time support and product information, improving customer satisfaction and loyalty. The Augmented Reality In Retail Market revenue for the application segment is projected to grow exponentially in the coming years, driven by increasing adoption across various retail sectors.

Augmented Reality In Retail Market Device Insights  

Smartphones held the largest market share in 2023, accounting for over 60% of the Augmented Reality In Retail Market revenue. The widespread adoption of smartphones, coupled with the availability of numerous AR applications, is driving the segment's growth. Tablets are expected to witness significant growth during the forecast period, owing to their larger screen size and enhanced AR capabilities.

Smart glasses are gaining traction in the market, offering hands-free AR experiences. However, their high cost and limited availability are hindering their widespread adoption. Head-mounted displays are anticipated to have the highest growth rate during the forecast period, driven by their immersive AR experiences and increasing use in various retail applications.

Augmented Reality In Retail Market End User Insights  

The Augmented Reality In Retail Market is segmented into various end user groups, including retailers, consumers, and content creators. Augmented reality (AR) technology enables immersive experiences for consumers, empowering them to visualize products in their own environments before making a purchase. This has led to increased demand for AR solutions by retailers, who seek to enhance customer engagement and drive sales. The Augmented Reality In Retail Market revenue is expected to grow significantly over the next few years, with the market size projected to reach $18.4 billion by 2023.

This growth is attributed to the increasing adoption of AR technology by retailers and consumers alike. Content creators are also playing a vital role in the market, developing AR experiences that are both engaging and informative. As the market continues to expand, it is expected that new and innovative AR applications will emerge, further driving market growth.

Augmented Reality In Retail Market Regional Insights  

The Augmented Reality In Retail Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023, and it is expected to continue its dominance during the forecast period. The growth of the Augmented Reality In Retail Market in this region can be attributed to the increasing adoption of augmented reality technology by retailers to enhance customer experience and engagement. Europe is expected to witness significant growth in the Augmented Reality In Retail Market due to the rising popularity of online shopping and the growing adoption of augmented reality technology by retailers.

APAC is expected to be the fastest-growing region in the Augmented Reality In Retail Market due to the increasing adoption of smartphones and tablets in the region and the growing popularity of augmented reality technology among consumers. South America and MEA are expected to witness moderate growth in the Augmented Reality In Retail Market due to the increasing adoption of augmented reality technology by retailers in these regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Augmented Reality In Retail Market Key Players And Competitive Insights

Major players in the Augmented Reality In Retail Market industry are continuously engaging in strategic collaborations, mergers, and acquisitions to expand their market presence and enhance their product offerings. For example, in 2023, Snapchat, a popular social media platform, partnered with Shopify, an e-commerce platform, to integrate augmented reality shopping experiences into Shopify stores. This partnership enables Shopify merchants to create and share augmented reality product experiences, allowing customers to virtually try on products before purchasing.

A leading player in the Augmented Reality In Retail Market is PTC Inc. The company provides a comprehensive suite of augmented reality solutions tailored to the retail sector, including Vuforia Chalk, Vuforia Expert Capture, and Vuforia Studio. PTC's solutions enable retailers to enhance customer engagement, optimize store operations, and improve training and support. The company's focus on innovation and customer-centric approach has positioned it as a key player in the market.

A notable competitor in the Augmented Reality In Retail Market is Atheer, a provider of augmented reality software and hardware solutions. The company's flagship product, Atheer One, is a wearable augmented reality headset designed for industrial and enterprise applications. Atheer's solutions empower retail workers with hands-free access to information, instructions, and collaboration tools, enhancing productivity and efficiency. The company's commitment to developing innovative augmented reality technologies has made it a formidable competitor in the market.

Key Companies in the Augmented Reality In Retail Market Include

• Marxent Labs Inc.


• Microsoft Corporation


• Samsung Electronics Co., Ltd


• Blippar


• PTC


• Google LLC


• Atheer, Inc.


• Vuzix Corporation


• Qualcomm Technologies, Inc.


• Magic Leap, Inc.


• Epson America, Inc.


• Upskill


• Apple Inc.


• Meta Platforms, Inc.

Augmented Reality In Retail Market Industry Developments

The Augmented Reality In Retail Market is projected to reach USD 152.0 billion by 2032, exhibiting a CAGR of 26.44% during the forecast period. The market growth is primarily driven by the increasing adoption of AR technology in retail stores to enhance customer experience and engagement. AR-powered solutions, such as virtual try-ons, interactive product demonstrations, and personalized shopping experiences, are gaining traction among retailers.

The market is also witnessing strategic partnerships and collaborations between technology providers and retailers to develop innovative AR solutions. For instance, in 2023, Amazon launched Amazon Style, a physical retail store that leverages AR technology to provide customers with a seamless shopping experience. Additionally, the growing popularity of mobile AR applications and the integration of AR with e-commerce platforms are contributing to the market growth.

Augmented Reality In Retail Market Segmentation Insights

1. 
   

   Augmented Reality In Retail Market Technology Outlook

   
   
   
   
   1. Marker-based AR
   
   
   2. Markerless AR
   
   
   3. Projection-based AR
   
   
   4. Superimposition AR
   
   
   5. Location-based AR
   
   
   
   

2. 
   

   Augmented Reality In Retail Market Application Outlook

   
   
   
   
   1. Product Visualization
   
   
   2. Virtual Try-On
   
   
   3. Interactive Marketing
   
   
   4. In-Store Navigation
   
   
   5. Customer Service
   
   
   
   

3. 
   

   Augmented Reality In Retail Market Device Outlook

   
   
   
   
   1. Smartphones
   
   
   2. Tablets
   
   
   3. Smart Glasses
   
   
   4. Head-Mounted Displays
   
   
   
   

4. 
   

   Augmented Reality In Retail Market End User Outlook

   
   
   
   
   1. Retailers
   
   
   2. Consumers
   
   
   3. Content Creators
   
   
   
   

5. 
   

   Augmented Reality In Retail Market Regional Outlook

   
   
   
   
   1. North America
   
   
   2. Europe
   
   
   3. South America
   
   
   4. Asia Pacific
   
   
   5. Middle East and Africa