DUBLIN–(BUSINESS WIRE)–The “Global Augmented Reality in Retail Market (2021-2026) by Device Type, Retail Type, Technology, Application, Offering, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.

The Global Augmented Reality in Retail Market is estimated to be USD 2. 13 Bn in 2021 and is expected to reach USD 3. 45 Bn by 2026, growing at a CAGR of 24.8%.

The major factor driving the growth of global Augmented Reality in Retail market is rising demand for online shopping, quick & convenient shopping, and the e-commerce market’s expansion. Other factors contributing to the market growth include lower storage costs, a lower inventory demand, and a more engaging user experience. Furthermore, the growing use of smart AR mirrors in the apparel sector has boosted the AR business in retail. As a try-before-you-buy alternative, smart mirrors are increasingly being used for virtual garment fitting. Customers can also virtually try on jewelry before they buy using try-on systems, which are becoming more popular in jewelry retailers leading to the growth of the global Augmented Reality in Retail market. In addition, the increasing use of augmented reality in retail for advertising and marketing, which improves consumer engagement, is creating more opportunities for market growth.

However, Lack of Skilled and trained personal, high initial cost, as well as growing security and privacy issues are restraining and creating challenges for the expansion of augmented reality in the retail industry.

Recent Developments

1. Flipkart acquires augmented reality company Scapic for an undisclosed sum. – 17th November 2020

2. AWS Announces General Availability of Amazon Augmented Artificial Intelligence (A2I) – 24th April 2020

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Augmented Reality in Retail Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.

The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.

The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.

The report also contains the competitive analysis using Positioning Quadrants, the analyst’s positioning tool.

Report Highlights:

A complete analysis of the market, including parent industry

Important market dynamics and trends

Market segmentation

Historical, current, and projected size of the market based on value and volume

Market shares and strategies of key players

Recommendations to companies for strengthening their foothold in the market

Market Dynamics

Drivers

Growing Online Shopping Interests Retailers in AR

Rising Adoption of Connected Devices

Restraints

Privacy and Security Concerns

Opportunities

Increasing Investments in Retail Sector

Forming Direct Connect with End Users

Challenges

Lack of Skills and Expertise

Companies Mentioned

ADS Reality Limited

Amazon.com, Inc

Apple Inc

Augment Corporation

Blippar

Flipkart

Google, LLC

Gravity Jack

Holition

IKEA

Imaginate Software Labs Pvt Ltd

INDE

Kudan Inc

Marxent Labs LLC

Microsoft Corporation

Obsess

PTC Inc

Sephora

Sotheby’s

Total Immersion

ViewAR

Visionstar Information Technology (Shanghai) Co., Ltd

Wikitude

XZIMG

Zugara

For more information about this report visit https://www.researchandmarkets.com/r/w6ksaw