AR in Retail Market Research Analysis: Size, Share & Growth Forecast

 The global AR in Retail market was valued at US$ 1853.7 million in 2023 and is anticipated to reach US$ 6736.2 million by 2030, witnessing a CAGR of 20.0% during the forecast period 2024-2030.

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Augmented reality (AR) in retail refers to a technology that enables integration of digital information with the users environment in real time through devices such as smartphone or tablet. The need to provide enhanced customer experience, increase in internet penetration, and rise in IoT spending fuel the demand for augmented reality in the retail market.

Based on the system, there are two mainly systems of AR in Retail, including Virtual Fitting Room and Visualizing Software. And Visualizing Software is the main system for AR in Retail, and the Visualizing Based on the application, there are two mainly application s of AR in Retail, including E-commerce and Physic Stores. And E-commerce is the main application for AR in Retail, and the E-commerce reached a market size of approximately 750 million USD in 2019, with 62.58% % of global market size. AR in Retail allows companies to significantly increase online conversion rate and reduce returns rate of products. Most of AR options provide extra information and personal customization that does not only preview product but also help customers ensure that they like it. The ability to visualize a virtual representation of products in 3D, to scale and in their intended environment, enables shoppers to make better judgments, removing the need to measure and verify dimensions. Once they have made their determinations, they may either buy directly online or go to the store to complete their purchase. Not only does this eliminate a point of friction between the consumer viewing and buying the product, but it also maximizes the probability of them being satisfied with their purchase once received, decreasing the number of returned products.Software reached a market size of approximately 734 million USD in 2019, with 61.19% of global market size. Augmented reality can help online retailers significantly reduce returns by providing an engaging ‘try-before-you-buy’ digital experience. Innovative AR solutions allow customers to visualise products in real time, from the comfort of their own homes. Full 3D visualisations give the opportunity for shoppers to see how products could look in their space before they commit to purchase, reducing the temptation to order multiple items to try out before choosing one and returning the others, a practice that is increasingly common.

This report aims to provide a comprehensive presentation of the global market for AR in Retail, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding AR in Retail.

The AR in Retail market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global AR in Retail market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the AR in Retail companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

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By System

  • Virtual Fitting Room

  • Visualizing Software

By Technology

  • Marker-based Augmented Reality

  • Marker-less Augmented Reality

By Application

  • E-commerce

  • Physic Stores

Key Companies

Google, PTC, Apple, Microsoft, Wikitude, DAQRI, Zugara, Blippar, Marxent Labs, Augment, ViewAR, Holition, Ikea, Sephora, Amazon

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2Z282/ar-in-retail

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