What Fueled The Previous Growth In The Augmented Reality AR Shopping Market?
The augmented reality ar shopping market has seen considerable growth due to a variety of factors.
• Over the past years, the market size for augmented reality (AR) shopping has seen significant growth. It is projected to expand from $6.11 billion in 2024 to an even larger figure in 2025, achieving a compound annual growth rate (CAGR) of 32.3%.
This accelerated growth in the historic period can be credited to factors such as governmental funding in AR, consumer interest in enhanced shopping experiences, a worldwide increase in e-commerce adoption, the growth of online social commerce, and the demand for customized shopping solutions.
What Is The Expected Growth In The Augmented Reality AR Shopping Template Market?
The augmented reality ar shopping market is expected to maintain its strong growth trajectory in upcoming years.
• The market for augmented reality (AR) shopping is projected to undergo significant expansion in the upcoming years, with its size anticipated to reach $24.54 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 32.0%.
The substantial market growth predicted for the forecast period can be ascribed to factors such as the enhanced spending strength of the millennial and gen Z consumer groups, the adoption of AI in customizing AR shopping experiences, the rising emphasis on sustainable shopping, the boom in direct-to-consumer retail channels, and the increased prevalence of smartphone usage. Prominent trends projected for the forecast span encompass collaborations between technology companies and retail brands, the amalgamation of AR in e-commerce platforms, the creation of AR glasses designed for hands-free shopping, the addition of game-like elements in AR shopping, and the construction of 3D product catalogs utilizing AR.
Which Drivers Are Accelerating Growth In The Augmented Reality AR Shopping Market?
The augmented reality (AR) shopping market is anticipated to expand due to the escalating prevalence of smartphones. The widespread uptake of smartphones stems from their economical price point, multi-purpose nature, and uninterrupted connectivity, satisfying a range of consumer desires in one compact package. These gadgets facilitate AR shopping by providing users the ability to visualize products in real-time, heightening the online shopping journey with engaging and encompassing capabilities. For example, Uswitch Limited, a company based in the UK that offers comparison and switching services, reported in February 2024 that there were 71.8 million mobile connections at the start of 2022 in the UK. This figure overshot the population by 4.2 million, indicating a growth of 3.8% (about 2.6 million) from 2021. Projections for 2025 estimate that the UK population will hit 68.3 million, with approximately 65 million (95%) predicted to be smartphone users. Consequently, the escalating prevalence of smartphones is likely to spur the expansion of the augmented reality (AR) shopping market.
What Are The Primary Segments In The Global Augmented Reality AR Shopping Market?
The augmented reality (AR) shopping market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By AR Technology: Marker-Based AR, Markerless AR
3) By Application: Automotive, Home Goods And Furniture, Beauty And Cosmetics, Apparel Fittings, Grocery Shopping, Footwear, Other Applications
4) By End Use: Retail And In-Store, E-Commerce And Out of Store
Subsegments:
1) By Hardware: Augmented Reality Smart Glasses, Augmented Reality Head-Mounted Displays, Augmented Reality-Enabled Smartphones And Tablets, Augmented Reality Mirrors And Kiosks, Augmented Reality Sensors And Cameras
2) By Software: Augmented Reality Shopping Applications, Artificial Intelligence-Powered Virtual Try-On Solutions, Augmented Reality-Powered Product Visualization Tools, Web-Based Augmented Reality Shopping Platforms, Augmented Reality Content Creation And Management Software
3) By Services: Augmented Reality Integration And Deployment Services, Augmented Reality Shopping Experience Consulting, Custom Augmented Reality Application Development, Maintenance And Support Services For AR Solutions, Augmented Reality Marketing And Advertising Solutions
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Which Key Trends Are Driving Changes In The Augmented Reality AR Shopping Market?
Major companies operating in the augmented reality (AR) shopping market are focusing on developing technologically advanced solutions, such as augmented reality shopping tools, to provide an immersive and interactive experience. An augmented reality shopping tool is a technology that uses AR to overlay digital information or virtual representations of products onto the real world, enhancing the shopping experience by enabling interactive product visualization and customization. For instance, in June 2022, Burberry, a UK-based luxury fashion house, launched an AR viewer, an augmented reality shopping tool. The AR feature on Burberry.com allows customers to interact with the brand's signature bag by virtually placing a true-to-scale 3D model in their surroundings. Using a smartphone, users can scan their environment to position the bag in real-world settings, such as on a table next to personal items to gauge its size or against their outfit to visualize color contrasts, simulating an in-store experience.
Who Are the Key Players In The Augmented Reality AR Shopping Market?
Major companies operating in the augmented reality (AR) shopping market are:
• Amazon.com Inc.
• Apple Inc.
• Google LLC
• Microsoft Corporation
• Meta Platforms Inc.
• Inter Ikea Systems BV
• Qualcomm Technologies. Inc.
• Wayfair Inc.
• Seiko Epson Corporation
• Burberry Group Plc
• PTC Inc.
• Converse Inc.
• Warby Parker Inc.
• Houzz Inc.
• Magic Leap Inc.
• Rebecca Minkoff LLC
• StayinFront Inc.
• 3D Cloud by Marxent (Marxent Labs LLC)
• Blippar Ltd.
• Vuzix Corporation
• Wikitude GmbH
• Holition Ltd.
• ViewAR GmbH
• Zugara Inc.
• Imaginate Technologies
What Is The Most Dominant Region In The Augmented Reality AR Shopping Market?
North America was the largest region in the augmented reality (AR) shopping market in 2024. The regions covered in the augmented reality (AR) shopping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
