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Global AR in Retail Market Size, Status and Forecast 2022
SKU ID : QYR-19857995 | Publishing Date : 06-Jan-2022 | No. of pages : 122
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.
Market Analysis and Insights: Global AR in Retail Market
The global AR in Retail market size is projected to reach US$ 5535.2 million by 2027, from US$ 1544 million in 2020, at a CAGR of 20.0% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global AR in Retail market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global AR in Retail market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global AR in Retail market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global AR in Retail market.
Global AR in Retail Scope and Market Size
AR in Retail market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global AR in Retail market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.
Segment by Type
by System
Virtual Fitting Room
Visualizing Software
by Technology
Marker-based Augmented Reality
Marker-less Augmented Reality
Segment by Application
E-commerce
Physic Stores
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
By Company
Google
PTC
Apple
Microsoft
Wikitude
DAQRI
Zugara
Blippar
Marxent Labs
Augment
ViewAR
Holition
Ikea
Sephora
Amazon
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.
Market Analysis and Insights: Global AR in Retail Market
The global AR in Retail market size is projected to reach US$ 5535.2 million by 2027, from US$ 1544 million in 2020, at a CAGR of 20.0% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global AR in Retail market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global AR in Retail market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global AR in Retail market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global AR in Retail market.
Global AR in Retail Scope and Market Size
AR in Retail market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global AR in Retail market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.
Segment by Type
by System
Virtual Fitting Room
Visualizing Software
by Technology
Marker-based Augmented Reality
Marker-less Augmented Reality
Segment by Application
E-commerce
Physic Stores
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
By Company
PTC
Apple
Microsoft
Wikitude
DAQRI
Zugara
Blippar
Marxent Labs
Augment
ViewAR
Holition
Ikea
Sephora
Amazon
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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