The Worldwide Augmented Reality in Retail Industry is Estimated to Reach $61.3 Billion by 2031 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Augmented Reality in Retail Market By Component, By Device Type, By Application, By Retail Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the augmented reality in retail market size was valued at $2 billion in 2021, and is estimated to reach $61.3 billion by 2031, growing at a CAGR of 41.4% from 2022 to 2031.

Augmented reality is a technology, which uses the existing user's environment and overlays the digital or virtual content or information over it to offer an immersive digital experience in a real-time environment. Furthermore, virtual reality is a computer-generated 3D environment that immerses end users in an artificial world without seeing the real world.

In addition, augmented reality applications enable developers to integrate contextual or digital content with the real world in real-time. These major factors boost the adoption of augmented and virtual reality technology.

Surge in investments in the AR market and the rise in penetration of smartphones boost the growth of the global augmented reality in the retail market. In addition, the cost-efficient benefits of augmented and virtual reality-based solutions positively impact the growth of the market.

However, security and privacy concerns associated with AR and high set-up and installation costs of AR solutions hamper the market growth. On the contrary, the need for increasing user engagement in the retail sector is expected to offer remunerative opportunities for expansion of the market during the forecast period.

Key Benefits

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the augmented reality in retail market analysis from 2021 to 2031 to identify the prevailing augmented reality in retail market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the augmented reality in retail market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global augmented reality in retail market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Component

• Hardware
• Type
• Sensors
• Semiconductor Components
• Displays and Projectors
• Cameras
• Others
• Software
• Services

By Device Type

• Head Mounted Display
• Smart AR Mirror
• Handheld Device

By Application

• Information Systems
• Advertising and Marketing
• Try on Solutions
• Planning and Designing

By Retail Type

• Jewelry
• Beauty and Cosmetics
• Apparel Fitting
• Furniture and Lighting
• Grocery Shopping
• Footwear
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Mexico
• UAE
• Saudi Arabia
• South Africa
• Rest of LAMEA

Key Market Players

• Amazon.com, Inc.
• Apple Inc.
• Augment
• Blippar Group Limited
• Google
• Holition Ltd.
• Inter IKEA Systems B.V.
• Imaginate Technologies
• INDE
• Kudan
• Marxent Labs
• Microsoft Corporation
• PTC
• Sephora USA, Inc.
• ViewAR GmbH
• Wikitude
• Zugara, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/32bz82