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Augmented Reality in Retail Market by Offering, Device Type, Application, Retail Type And Geography - Global Forecast to 2023

Augmented Reality: Retail Market Forecast until 2023

  • July 2018
  • 154 pages
  • ID: 5472847
In this report:
The AR in retail market in Middle East and Africa for other retail types is expected to grow from USD ##.## million in 2017 to USD ##.## million by 2023, at the highest CAGR of ##.##% between 2018 and 2023.
The AR in retail market in Canada & Mexico for furniture and lighting is expected to grow from USD ##.## million in 2017 to USD ##.## million by 2023, at the highest CAGR of ##.##% between 2018 and 2023.


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Rised online shopping has instilled interest in retailers to embrace AR-major driving factor for augmented reality in retail market

The augmented reality in retail market is anticipated to be $1155.80M in 2018 and is projected to extend $7951.20M by 2023, at a compound annual growth rate (CAGR) of 47.1% during the forecast horizon. Growing online shopping encourages retailers to take AR, growing smartphone penetration, and increasing adoption of connected devices are the main factors driving the rise of the augmented reality in retail market. The lack of compatibility, interoperability, privacy, and security concerns combined with the use of AR restrain the increase of the AR in retail market.

Augmented reality in retail market for head-mounted displays to grow at high rate during projection period

With advancements in computing, AR-enabled devices can be used for client, commercial, and enterprise applications.In the retail market, smart glasses are anticipated to be used on a big scale for the workforce and sales management purposes.

Go Instore, a service provider of online video commerce, partnered with retail companies to offer online video support using AR technology.The technology specified by the company benefits remote shoppers to connect with the in-store experts in real time.

The experts at the store use AR glasses to get the real-time information on the call and address queries or grievances of remote shoppers.

Augmented reality in retail market for planning and designing application to lead the sector during forecast horizon

Planning and designing application is used in retail types including furniture and lighting, automotive interior, and paint.The planning and designing application helps in placing a product virtually at a desired place.

Furniture and lighting is the main retail type in the planning and designing application.AR is increasingly being used by furniture retailers to help consumers visualize the select products at their desired place.

This helps clients to acquire furniture and relevant stuff according to their home or office spaces.

APAC to witness high rise because North America (NA) to lead the global AR in Retail market during projection period

Increasing consumer and commercial sectors with rising investments in countries including Japan and China (CN) would boost the increase of the AR in retail market in Asia-Pac.E-commerce is becoming a main area of focus for retailers in Asia-Pacific, where China (CN) is becoming the biggest e-commerce market global.

In 2018, North America continent is forecasted to hold the biggest market, with maximum revenue generated from AR in retail applications.The AR in retail market is expected to grow considerably in the subsequent years in this area.

The US homes a few main retail markets across the globe, with the apparel industry being the biggest; it is 50.0 percent larger than the retail market in China (CN). The 12 main US retailers hold one-third of the market share across the globe; this further drives the AR in retail market in North America (NA).

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with main experts in the AR sector.

The breakup of the profiles of primary members taking part has been shown below:

• By Company category: Tier 1 = 35.0 percent, Tier 2 = 45.0 percent, and Tier 3 = 20.0 percent

• By Description: C-suite executives = 35.0 percent, Directors = 25.0 percent, and Others = 40.0 percent

• By Area: North America continent = 45.0 percent, Europe (EU) = 20.0 percent, Asia-Pac = 30.0 percent, and RoW = 5.0 percent

Top actors in the augmented reality in retail market are Google, PTC, Apple, Microsoft, Wikitude, DAQRI, Zugara, Blippar, Marxent Labs, Augment, and ViewAR.The other actors decribed in the industry report contain Holition, Ikea, Sephora, Amazon, Imaginate Technologies, Kudan, Total Immersion, and INDE.

The start-up ecosystem includes Ads Reality, XZIMG, VisionStar Information Technology, Zappar, and Obsess.

Segment Research

This research classifies the augmented reality in retail market based on device type, offering, retail type, application, and area. The study also considers main drivers, industry restraints, opportunities, and possibilities for the industry.

Reasons to Buy the Report

The analysis would benefit competitors/new sector entrants in this sector in these ways:

1. This document breaks down the augmented reality in retail market comprehensively and offers the closest industry size estimation for main sectors across several areas.

2. The market research would benefit partners distinguish the pulse of the sector and offer them with the info on drivers, market restraints, opportunities, and alternatives for the sector.

3. This industry report would benefit partners comprehend their players better and acquire additional insights to enhance their rank in the business sector. The competitive outlook section includes competitor landscape, launches of new product and advancements, alliances, fund raising, and acquisitions.

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