Augmented Reality In Retail Market to grow by USD 9.24 Bn, Growing smartphone and tablets to boost market growth – Technavio

120 Pages report segments the augmented reality in retail market by Type (apparel, furniture, lighting, decor, footwear, grocery, and others) and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

NEW YORK, Oct. 20, 2022 /PRNewswire/ — The augmented reality in the retail market is expected to grow by USD 9.24bn, at a CAGR of 41.7% between 2021 to 2026, according to Technavio’s latest market report.

Factors such as the rising adoption of technologically advanced applications among consumers, such as AR, and the increasing adoption of fashion clothes with multi-colors and varied designs in various countries played a crucial role in driving the growth of the segment. Based on the geography. the market witnessed maximum growth in North America and the region is expected to continue its dominance in the market during the forecast period.

Factors such as the advanced and mature technological landscape across the retail industry are expected to foster the growth of augmented reality in the retail market in North America. North America will account for 32% of the market’s growth over the forecasted timeframe. The major augmented reality markets in North America’s retail sector are the US and Canada. This region’s market will expand more quickly than those in other areas. Request Free Sample Report.

Augmented reality in the retail market reports the following factors as major growth drivers during the forecast period:

The usage of AR technology is mostly driving the expansion of augmented reality in retail to improve advertising. Marketers may integrate the real world with the digital world by using augmented reality. This gives customers and the company the chance to interact virtually instantly with the products, which encourages sales. Customers can find their items via extremely immersive augmented reality (AR) adverts that cater to their needs and match their preferences. As a result, clients may produce all the information they need about any product they want to buy by merely pointing their smartphone in that direction. During the anticipated time, these elements will fuel the expansion of global AR in the retail sector.

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The main trend fueling the expansion of augmented reality in the retail market is the increasing popularity of smartphones and tablets. Mobile device manufacturers are integrating AR technologies into their products to improve user experience and value proposition. During the forecast period, the market is anticipated to grow at a faster rate thanks in part to the increasing popularity and market penetration of smartphones and tablets and the growing integration of AR technologies in mobile computing devices. Buy Sample Report.
 

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Augmented and Virtual Reality in Healthcare Market by Component and Geography – Forecast and Analysis 2022-2026: Between 2021 and 2026, it is anticipated that the market share for augmented and virtual reality in healthcare would expand by USD 6.55 billion, with a CAGR of 29.13%. The growing demand for healthcare services is notably driving the growth of augmented and virtual reality in the healthcare market.

Automotive Augmented Reality and Virtual Reality Market by Technology and Geography – Forecast and Analysis 2021-2025: From 2020 to 2025, it is anticipated that the market share for automotive augmented reality and virtual reality would rise by USD 5.10 billion, with a CAGR of 32.0 %. The emergence of virtual reality showrooms and events is notably driving the automotive AR and VR market growth.

Augmented Reality In Retail Market Scope

Accelerate at a CAGR of 41.7%

North America, Europe, APAC, South America, and Middle East and Africa

US, Canada, China, Germany, and UK

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc., Atracsys LLC, Augmented Pixels Inc., Blippar Ltd., Holition Ltd., Independiente Communication Ltd., Inglobe Technologies Srl, Lenovo Group Ltd., Magic Leap Inc., Marxent Labs LLC, mCloud Technologies Corp., Microsoft Corp., NavVis GmbH, Niantic Inc., PTC Inc., Quy Technology Pvt. Ltd., Samsung Electronics Co. Ltd., Seiko Epson Corp., and Zugara Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

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1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Type

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

SOURCE Technavio