The growth of e-commerce is a major factor influencing the growth of the market.
Market Size – $ 919.0M in 2019, Market Growth – at a CAGR of 44.8%, Market Trends – Increasing Deployment or Connected Devices in Retail Stores
The globe Augmented Reality in the Retail Market Is expected to reach a market size of $ 18.05 billion by 2027, according to a new report from Reports and Data, with a significantly high CAGR over the next seven years. The increasing demand for augmented reality in retail is due to the increasing growth of the e-commerce industry. The e-commerce industry is experiencing rapid growth due to high Internet speeds, increasing smartphone penetration, the easy accessibility of such platforms, the convenience for customers to shop from anywhere and anytime, and others. Augmented Reality enables e-commerce customers to experience the products virtually while shopping, which contributes to brand loyalty. For example, augmented reality “See It In Your Space” and “Try Before You Buy” are very popular with e-commerce customers. The fashion and beauty industry offers customers augmented reality features “Try Before You Buy”, which enable them to experience the appearance of the product for themselves before buying it.
The growing demand for personalized retail products is gaining traction in retail, and augmented reality plays an essential role in bridging gaps related to changing preferences. Providing a bespoke product takes a long time and the end result depends on the specific requirements or ideas of the customer. Augmented Reality in retail helps eliminate such problems by allowing the generation of virtual versions of the product to be personalized. For example, Nikes Makers’ Experience combines object tracking, augmented reality and projection technology (which uses the Internet of Things and artificial intelligence) along with digital signage to overlay a bespoke design on sneakers.
The most important market players include Microsoft Corporation, Blippar, PTC, Wikitude GmbH, ViewAR GmbH, Apple Inc., Augment, Zugara Inc., Google and Marxent Labs.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3743Other key findings from the report suggest that
- In terms of device type, the head-mounted display segment made up the largest market size in 2019. Head Mounted Displays offer built-in head tracking to assess location and enable you to explore and navigate a retail store. Augmented reality devices worn on the head guide shoppers in finding products, visualizing products and receiving help through superimposed instructions in the customer’s field of vision.
- Marker-based augmented reality enables shoppers to scan physical markers in a retail store and generate a 2D / 3D model, animations, audios, videos and web links on retail products as a real-time experience.
- By retail product type, the food segment had a considerably large market in 2019. In a grocery store, augmented reality uses computer vision technology to identify a shopper’s location and then uses built-in store layouts and up-to-date warehouse information to display product details and other relevant data to provide a better shopping experience.
- Augmented Reality sales in the Asia-Pacific retail market are expected to grow the fastest over the forecast period as investments in the retail sector increase in countries including China and Japan in the region. The growth of the e-commerce sector, particularly in emerging countries like India and China, is also driving market growth.
To identify the key trends in the industry, click the link below: https://www.reportsanddata.com/report-detail/augmented-reality-in-retail-market
For the purposes of this report, Reports and Data has segmented the global augmented reality in the retail market based on device type, technology, retail product type, and region:
Device Type Outlook (Revenue, USD Billion; 2017-2027)
- Screen attached to the head
- Hand-held device
- Intelligent augmented reality mirror
Technology Outlook (Revenue, $ Billion; 2017-2027)
- Marker-based augmented reality
- Markerless augmented reality
Retail Product Types Outlook (Revenue, $ Billion; 2017-2027)
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Regional Outlook (Revenue, Billion USD; 2017-2027)
- North America
- Asia Pacific
- Latin America
In the end, all aspects of the retail augmented reality market are assessed both quantitatively and qualitatively for a comparative study of the global and regional market. This market study presents critical information and factual data about the market and offers an overall statistical study of this market based on market drivers, restraints, and future prospects.
Reports and Data is a market research and advisory firm that provides syndicated research reports, bespoke research reports, and advisory services. Our solutions focus solely on your purpose of locating, addressing, and analyzing changes in consumer behavior across demographics and industries, and helping customers make smarter business decisions. We offer market research studies that ensure relevant and fact-based research across a wide variety of industries including healthcare, technology, chemistry, energy, and energy. We are constantly updating our research offerings to ensure that our customers are informed about the latest trends in the market.
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Keywords: Augmented Reality in Retail Market Growth, Augmented Reality in the Retail Market, Augmented Reality in Retail Market Trends, Augmented Reality in Retail Market Share, Augmented Reality in Retail Market Size
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