Augmented Reality For Retail Market Analysis

Augmented Reality for Retail Market: Drivers & Challenges

Augmented Reality for Retail improves a customer’s overall shopping experience, and enhances the way in which retailers engage with their prospects. This factor is expected to drive the global Augmented Reality for Retail market. Augmented Reality for Retail enables the creation of immersive product and services catalogs with preview features. Augmented Reality for Retail also enable retailers in the e-Commerce sector to mitigate the disadvantages of not owning a showroom using augmented reality-based product catalogs and applications. Augmented Reality for Retail provides a customization feature for the UX content as per the user’s requirements. Another benefit of Augmented Reality for Retail market is that prospective customers in the field of apparel, and cosmetics and accessories can try out the products virtually. By integrating Augmented Reality for Retail, designers and contractors can allow their clients to preview and visualize a vast selection of designs before finalizing their selections. Due to this feature offered by Augmented Reality for Retail, the product return rate is also reduced, and customer loyalty and satisfaction is enhanced. This factor will play a major role in driving the global Augmented Reality for Retail market. Augmented Reality for Retail makes in-store navigation much more informative and easy, and enables customers to find and filter out their choices quickly. Augmented reality can be used to develop presentations for products that appeal to the prospect’s emotions, and offer a sensational and interactive user experience. Augmented Reality for Retail enables smart marketing, using which, product pictures and billboards can create an immersive story when viewed via augmented reality-powered apps.

Though developers offer their Augmented Reality for Retail solutions integrated with optimal customizations, augmented reality is not an established channel to fulfill the purpose of consumer engagement. Expensive development expenditure and lack of awareness among small-time businesses are some factors that are expected to hinder the growth of the overall global Augmented Reality for Retail market.

Augmented Reality for Retail Market: Segmentation

The global Augmented Reality for Retail market can be segmented on the basis of retail type, component, application, business size, and region.

Augmented Reality for Retail Market: Regional Outlook

Among all the business regions, North America leads the global Augmented Reality for Retail market. North America is also expected to register the highest growth rate and dominate the global Augmented Reality for Retail market during the forecast period, due to the high presence of augmented reality and user experience content developers in the region. Increasing competition among apparel and cosmetic business owners motivates them to integrate Augmented Reality for Retail.

Augmented Reality for Retail Market: Key Players

Some of the key players in the global Augmented Reality for Retail market include Augmented Pixels Inc, Blippar, Contus, Inde, Apphitect, Cortex, ValueCoders.com, Intellectsoft US, Xenium Digital, and Virtualware, among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.