Frequently Asked Questions
The global Augmented reality in the retail market was valued at USD 2.2 billion in 2022.
The Augmented reality in retail market is expected to grow at a CAGR of 40.90% between 2023 and 2030, reaching USD 24.25490805 Billion in 2030.
Hardware is the leading segment by material, holding about two-thirds share in terms of value in 2022.
The Information Systems segment governs the demand for Augmented reality in retail in the world.
The software segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of augmented reality in the retail industry, with over a three-fifths share in 2022.
The top players include MAGNETI HOLDINGS CO., LTD., NXP Wikitude, Apple Inc., Blippar Group Limited, INDE, Google, PTC, Kudan, Inter IKEA Systems B.V., Microsoft Corporation, Zugara, Inc., Sephora USA, Inc., and other.
Increasing adoption and usage of smartphones and wearable devices & growing demand for immersive and interactive user experiences across various industries are the major market drivers.
Augmented reality technology requires sophisticated hardware and software components to deliver seamless and immersive experiences & AR hardware, such as smart glasses and headsets, can be expensive to produce and purchase are the major market restraints.
Augmented reality offers immense potential for various enterprise applications across industries such as manufacturing, logistics, healthcare, construction, and maintenance & the potential to revolutionize healthcare by assisting in medical procedures, and training healthcare professionals.