Dublin, July 12, 2018 (GLOBE NEWSWIRE) -- The "Augmented Reality in Retail Market by Offering, Device Type, Application, Retail Type and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Increased online shopping has instilled interest in retailers to adopt AR-major driving factor for augmented reality in retail market The augmented reality in retail market is expected to be USD 1,155.8 million in 2018 and is projected to reach USD 7951.2 million by 2023, at a CAGR of 47.1% during the forecast period. Increasing online shopping encourages retailers to adopt AR, rising smartphone penetration, and growing adoption of connected devices are the major factors driving the growth of the augmented reality in retail market. The lack of compatibility, interoperability, privacy, and security concerns associated with the use of AR restrain the growth of the AR in retail market. Augmented reality in retail market for head-mounted displays to grow at high rate during forecast period With advancements in computing, AR-enabled devices can be used for consumer, commercial, and enterprise applications. In the retail sector, smart glasses are expected to be used on a large scale for the workforce and sales management purposes. Go Instore (UK), a service provider of online video commerce, partnered with retail firms to provide online video support using AR technology. The technology provided by the company helps remote shoppers to connect with the in-store experts in real time. The experts at the store use AR glasses to get the real-time information on the call and address queries or grievances of remote shoppers. Augmented reality in retail market for planning and designing application to lead the market during forecast period Planning and designing application is used in retail types such as furniture and lighting, automotive interior, and paint. The planning and designing application helps in placing a product virtually at a desired place. Furniture and lighting is the major retail type in the planning and designing application. AR is increasingly being used by furniture retailers to help customers visualize the select products at their desired place. This helps customers to buy furniture and relevant stuff according to their home or office spaces. APAC to witness high growth whereas North America to lead the overall AR in Retail market during forecast period Growing consumer and commercial markets with increasing investments in countries such as Japan and China would boost the growth of the AR in retail market in APAC. E-commerce is becoming a major area of focus for retailers in APAC, where China is becoming the largest e-commerce market worldwide. In 2018, North America is expected to hold the largest market, with maximum revenue generated from AR in retail applications. The AR in retail market is estimated to grow considerably in the subsequent years in this region. The US homes a few major retail industries across the world, with the apparel industry being the largest; it is 50% larger than the retail industry in China. The 12 major US retailers hold one-third of the market share across the world; this further drives the AR in retail market in North America. In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts in the AR industry.
Competitive Analysis
Major players in the augmented reality in retail market are Google (US), PTC (US), Apple (US), Microsoft (US), Wikitude (Austria), DAQRI (US), Zugara (US), Blippar (UK), Marxent Labs (US), Augment (France), and ViewAR (Austria).
The other players profiled in the report include Holition (UK), Ikea (Netherlands), Sephora (France), Amazon (US), Imaginate Technologies (India), Kudan (UK), Total Immersion (France), and INDE (UK). The start-up ecosystem includes Ads Reality (UK), XZIMG (China), VisionStar Information Technology (China), Zappar (UK), and Obsess (US).
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Definition 1.3 Study Scope 1.3.1 Markets Covered 1.3.2 Years Considered for the Study 1.4 Currency 1.5 Limitations 1.6 Stakeholders 2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.1.1 Secondary Sources 2.1.2 Primary Data 2.1.2.1 Primary Interviews With Experts 2.1.2.2 Breakdown of Primaries 2.1.2.3 Key Data From Primary Sources 2.1.3 Secondary and Primary Research 2.1.3.1 Key Industry Insights 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.1.1 Approach for Capturing the Market Size By Bottom-Up Analysis (Demand Side) 2.2.2 Top-Down Approach 2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis (Supply Side) 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions 3 Executive Summary 4 Premium Insights 4.1 AR in Retail Market, 2018-2023 (USD Billion) 4.2 AR in Retail Market in APAC 4.3 AR in Retail Market: Developed vs Developing Markets, 2018 and 2023 (USD Million) 4.4 APAC Expected to Grow at Highest CAGR Between 2018 and 2023 in AR in Retail Market 4.5 AR in Retail Market, By Application (USD Million) 4.6 AR in Retail Market, By Device Type 5 Market Overview 5.1 Introduction 5.2 History and Evolution of AR Technology 5.3 Market Dynamics: AR in Retail Market 5.3.1 Drivers 5.3.1.1 Increasing Online Shopping Interests Retailers in AR 5.3.1.2 Increasing Smartphone Penetration Drives Growth of AR Apps 5.3.1.3 Growing Adoption of Connected Devices Drives Growth of AR in Retail 5.3.2 Restraints 5.3.2.1 Lack of Compatibility and Interoperability 5.3.2.2 Privacy and Security Concerns 5.3.3 Opportunities 5.3.3.1 Rising Investments in Retail Sector 5.3.3.2 Establishing Direct Connect With End Users 5.3.4 Challenges 5.3.4.1 Reluctance Among Retailers 5.3.4.2 Lack of Skills and Expertise 5.4 Value Chain Analysis 6 Augmented Reality in Retail Market, By Technology 6.1 Introduction 6.2 Augmented Reality Technology 6.2.1 Marker-Based Augmented Reality 6.2.1.1 Passive Marker 6.2.1.2 Active Marker 6.2.1.3 Marker-Based AR Use Cases 6.2.2 Markerless Augmented Reality 6.2.2.1 Model-Based Tracking 6.2.2.2 Image-Based Processing 6.2.2.3 Markerless AR Use Cases 7 Augmented Reality in Retail Market, By Offering 7.1 Introduction 7.1.1 Hardware 7.1.1.1 Displays and Projectors 7.1.1.2 Sensors 7.1.1.2.1 Accelerometers 7.1.1.2.2 Gyroscopes 7.1.1.2.3 Magnetometers 7.1.1.2.4 Proximity Sensors 7.1.1.3 Semiconductor Components 7.1.1.3.1 Controllers and Processors 7.1.1.3.2 Integrated Circuits 7.1.1.4 Cameras 7.1.1.5 Others 7.2 Software & Services 7.2.1 Introduction 7.2.2 Software Development Kits and Apps 7.2.3 Services 7.2.4 AR Software Functions 7.2.4.1 AR Remote Collaboration 7.2.4.2 Workflow Optimization 7.2.4.3 Documentation 7.2.4.4 Visualization 7.2.4.5 3d Modeling 7.2.4.6 Navigation 8 Augmented Reality in Retail Market, By Device Type 8.1 Introduction 8.2 Augmented Reality Devices 8.2.1 Head-Mounted Displays 8.2.1.1 AR Smart Glasses 8.2.2 Smart AR Mirrors 8.2.3 Handheld Devices 9 Augmented Reality in Retail Market, By Application 9.1 Introduction 9.2 Try-On Solutions 9.3 Planning & Designing 9.4 Advertising & Marketing 9.5 Information Systems 10 Augmented Reality in Retail Market, By Retail Type 10.1 Introduction 10.2 Furniture & Lighting 10.2.1 Use Cases in Furniture & Lighting 10.2.1.1 IKEA Develops AR App to Make Furnishing Easier 10.2.1.2 Wayfair Uses AR to Gain Business Benefits 10.3 Beauty & Cosmetics 10.3.1 Use Cases in Beauty & Cosmetics 10.3.1.1 L'oreal Buys Modiface to Strengthen Their Digital Strategy 10.3.1.2 Sephora Uses AR in Its Virtual Try-On Makeup Solution 10.4 Apparel Fitting 10.4.1 Use Cases in Apparel Fitting 10.4.1.1 Zara Enhances Shopping Experience Using Ar 10.4.1.2 Uniqlo Uses Smart AR Mirror 10.5 Jewelry 10.5.1 Use Cases in Jewelry 10.5.1.1 Swarovski Partnered With Perfect Corp. to Introduce AR Filters 10.5.1.2 De Beers Used AR to Market Its Forevermark Diamond Brand 10.6 Grocery Shopping 10.6.1 Use Cases in Grocery Shopping 10.6.1.1 Coop Italia Unveiled Supermarket of the Future 10.6.1.2 China's Largest Online Grocery Store Yihaodian Uses Ar 10.7 Footwear 10.7.1 Use Cases in Footwear 10.7.1.1 Converse Made Shopping Simple With Its App 10.7.1.2 Nike Used AR to Sell Its Products 10.8 Others 10.8.1 Use Cases in Other Retail Types 10.8.1.1 Ray-Ban Used Smart AR Mirror to Virtually Try Glasses 10.8.1.2 Dulux Helps Previsualize Walls With Ar 10.8.1.3 Bmw Creates Visualizer App to Showcase Cars 11 Augmented Reality in Retail Market, Geographical Analysis 11.1 Introduction 11.2 North America 11.2.1 US 11.2.2 Canada & Mexico 11.3 Europe 11.3.1 Germany 11.3.2 France 11.3.3 UK 11.3.4 Rest of Europe 11.4 APAC 11.4.1 China 11.4.2 Japan 11.4.3 South Korea 11.4.4 Rest of APAC 11.5 RoW 11.5.1 Middle East & Africa 11.5.2 South America 12 Competitive Landscape 12.1 Introduction 12.2 Ranking for AR in Retail Market Players 12.2.1 Product Launches & Developments 12.2.2 Partnerships 12.2.3 Agreements, Collaborations, & Capital Funding 12.2.4 Acquisitions & Expansions 13 Company Profiles 13.1 Introduction 13.2 Key Players 13.2.1 PTC 13.2.2 Google 13.2.3 Microsoft 13.2.4 Apple 13.2.5 Wikitude 13.2.6 Blippar 13.2.7 Zugara 13.2.8 Marxent Labs 13.2.9 Augment 13.2.10 Viewar 13.3 Other Important Players 13.3.1 Holition 13.3.2 Gravity Jack 13.3.3 IKEA 13.3.4 Sephora 13.3.5 Amazon 13.3.6 Imaginate Technologies 13.3.7 Kudan 13.3.8 Total Immersion 13.3.9 Inde 13.4 Start-Up Ecosystem 13.4.1 ADS Reality 13.4.2 Xzimg 13.4.3 Visionstar Information Technology (Shanghai) (Easyar) 13.4.4 Zappar 13.4.5 Obsess
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