Globally Augmented Reality in Retail Market to Grow by a CAGR of ~50% during 2022 – 2030; Rising Adoption of Augmented Reality to Propel the Market Growth

Research Nester published a report titled “Augmented Reality in Retail Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global augmented reality in retail market in terms of market segmentation by component, device type, application, end-user industry, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global augmented reality in retail market is estimated to witness growth at a robust CAGR of ~50% over the forecast period, i.e., 2022 – 2030. The global market is bifurcated on the basis of component into software and hardware, out of which, the software segment is estimated to gain noteworthy market share over the forecast period. This can be attributed to the growing adoption of augmented reality supporting software, which can be installed in various hardware supporting AR. Moreover, the software is easily available, which is estimated to boost the market growth.

The global augmented reality in retail market is anticipated to grow on the back of growing adoption of augmented reality in retail, along with the rapid advancement in technologies. Augmented reality has the potential to recover the loss incurred in the retail market due to COVID-19 pandemic. Moreover, the growing investment in the R&D activities for the advancement of technology, are estimated to boost the market growth. According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018.  

On the basis of geographical analysis, the global augmented reality in retail market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of the high adoption of advanced technology, combined with the high R&D expenditure in the United States, is also estimated to boost the market growth.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Trend for Online Shopping to Boost the Market Growth

Following the COVID-19 pandemic, the practice of at-home shopping has gained significant popularity. Due to the global lockdown, people avoid going to retail stores, which is further estimated to increase the demand for digital shopping. Moreover, adoption of AR in retail can enhance the shopping experience for the consumers, which is anticipated to boost the market growth.

However, requirement of very high initial investment in AR in retail is expected to operate as key restraint to the growth of global augmented reality in retail market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global augmented reality in retail market which includes company profiling of Microsoft Corporation, ViewAR GmbH, Apple Inc., Augment Systems Pvt. Ltd., Zugara, Inc., Blippar Ltd., Wikitude GmbH, PTC Inc., Augmented Pixels Inc., and Google LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global augmented reality in retail market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

Request Report Sample@

https://www.researchnester.com/sample-request-3798

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

Contact for more Info:

AJ Daniel

Email: [email protected]

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919