Augmented Reality in Retail Market Size, Share, Growth Analysis, By Component (Hardware, Software), by Technology (Marker-based Augmented Reality, Marker-less Augmented Reality), by Device Type (Head-Mounted Display (HMD), Smart AR Mirror), By Region - Industry Forecast 2024-2031

In terms of market size, North America is anticipated to lead the AR in retail market in 2018, and throughout the forecast period, APAC is anticipated to have the strongest growth in the AR in retail industry. Leading the way in private equity investments is also North America. North America has accounted for more than 95% of all investments made in the AR sector. There are a few significant retail industries in the US, the greatest of which being the garment sector, which is 50% bigger than the retail sector in China. One-third of the global market is held by the 12 largest US retailers, which further propels AR in the North American retail sector. The expansion of AR in the retail industry in APAC would be aided by expanding consumer and business markets as well as increased investment in nations like China and Japan. Retailers in Asia-Pacific are increasingly focusing on e-commerce, with China emerging as the global leader in this sector.

The availability of smartphones and developments in AR technology are driving a spike in the usage of augmented reality (AR) in retail in Europe. Trends indicate that virtual try-on experiences for apparel and accessories are becoming more and more popular as retailers integrate augmented reality (AR) solutions to improve the shopping experience. AR is becoming more popular in Latin America as businesses look for creative methods to stand out from the competition and engage customers. High hopes are held for interactive shopping experiences and product visualization enabled by augmented reality. Similar to this, shops in the Middle East are embracing augmented reality (AR) to build immersive shopping environments, especially in the luxury and fashion sectors. Personalized AR-powered marketing and virtual showrooms are the main features of these settings.