Augmented Reality (AR) Shopping Market Size was valued at USD 3.8 Billion in 2022. The Augmented reality (AR) shopping market industry is projected to grow from USD 4.8 Billion in 2023 to USD 36.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 28.50% during the forecast period (2023 - 2032). Enhanced customer experience, reduced uncertainty, personalization, retailer competitiveness, mobile device proliferation, cost reduction, data analytics, cross-selling and upselling, improved accessibility, gaming and entertainment crossover, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Technology advancements have been a major driver of the growth of mobile devices. Rapid technology and software advancements over the past few decades have produced increasingly potent, adaptable, and practical smartphones and tablets. Mobile devices are now essential tools for communication, productivity, entertainment, and other purposes thanks to these technological advancements. Consumers have adopted and frequently upgraded their mobile devices due to the allure of owning a small, multipurpose device.
The growing worldwide infrastructure for connectivity is another factor fueling the growth of mobile devices. Mobile devices now have lightning-fast internet access thanks to the deployment of high-speed mobile networks like 4G and 5G, which allows for real-time communication, seamless streaming, and cloud-based applications. Mobile device use for both personal and professional use is encouraged as these networks spread and become more dependable.
The proliferation of mobile devices has been significantly accelerated by the growth of mobile applications. App ecosystems like Apple's App Store and Google Play have established a sizable market where developers can sell their products directly to customers. Not only has this ecosystem increased demand for mobile devices, but it has also stimulated innovation as developers work to make engaging apps that draw in users.
The spread of mobile devices has also been influenced by the evolving nature of work and the growing emphasis on remote and flexible work arrangements. For remote communication, teamwork, and using cloud-based work apps, smartphones and tablets are now necessary tools. As companies and workers adapted to the difficulties of remote work, the COVID-19 pandemic further drove this trend, propelling the mobile device market to unprecedented heights.
Another motivating factor has been the incorporation of ML and AI into mobile devices. The tailored experiences, voice assistants, and predictive features made possible by these technologies increase user pleasure and increase the utility of mobile devices in daily life. Mobile technology has advanced beyond personal usage and now has a significant impact on a number of sectors, including healthcare, education, retail, and finance. The market's reach and influence have increased as mobile apps and gadgets have developed into indispensable tools for healthcare workers, educators, retailers, and financial institutions. Thus, driving the augmented reality (AR) shopping market revenue.
The Augmented Reality (AR) Shopping Market segmentation, based on component, includes solutions and services. The solutions segment dominated the market in 2022. AR enables seamless transitions between in-store and online purchases. Customers may get in-depth product information, reviews, and even special online deals by using AR apps to scan QR codes in physical stores. This connection promotes Omni-channel retail strategy by encouraging both online and in-store sales.
The Augmented Reality (AR) Shopping Market segmentation, based on application, includes automotive, home goods & furniture, beauty & cosmetics, apparel fittings, grocery shopping, footwear and others. The home goods & furniture category generated the most income in 2022. Because products frequently fall short of customers' expectations after delivery, the home goods and furniture sector has historically seen significant return rates. By allowing clients to digitally "try before they buy," AR reduces these returns. Customers are less likely to return goods when they can see how a piece of furniture fits into their area and complements their existing design.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Augmented reality (AR) shopping Market dominated this market in 2022 (45.80%). People in North America, particularly the United States, are known for being technologically smart. Consumers in this area are early adopters of new technology, and their receptivity to change has aided in the spread of augmented reality (AR) shopping. They are more likely to accept and investigate augmented reality (AR) applications, which makes it simpler for companies to implement AR shopping features. Further, the U.S. Augmented reality (AR) shopping market held the largest market share, and the Canada Augmented reality (AR) shopping market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Augmented reality (AR) shopping market accounts for the second-largest market share. Cities in Europe including Paris, Milan, and London are well known for being centers for high fashion. In this region, augmented reality (AR) shopping is becoming more popular as luxury firms try to provide their customers distinctive and engaging experiences. For instance, AR makes it possible for customers to digitally try on designer apparel and accessories, improving the experience of purchasing for luxury goods. Further, the German Augmented reality (AR) shopping market held the largest market share, and the UK Augmented reality (AR) shopping market was the fastest growing market in the European region.
The Asia-Pacific Augmented reality (AR) shopping Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific region is distinguished by a mobile-first approach to technology adoption, with nations like China and South Korea. A sizable segment of the population finds AR purchasing more interesting and accessible due to high smartphone adoption rates. In this region, consumers are accustomed to using mobile devices for a variety of daily activities, including shopping. Moreover, Chinaโs augmented reality (AR) shopping market held the largest market share, and the Indian Augmented reality (AR) shopping market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the augmented reality (AR) shopping market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, augmented reality (AR) shopping industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global augmented reality (AR) shopping industry to benefit clients and increase the market sector. In recent years, the augmented reality (AR) shopping industry has offered some of the most significant advantages to medicine. Major players in the Augmented reality (AR) shopping market, including Apple Inc., Augment, Blippar Ltd, Google LLC, Holition Ltd., Imaginate Technologies, Marxent Labs LLC, Microsoft, PTC, ViewAR GmbH, Wikitude GmbH, Zugara, Inc. and others, are attempting to increase market demand by investing in research and development operations.
Google LLC (Google), an affiliate of Alphabet Inc., provides online search and advertising services. The company's primary business segments include advertising, search, platforms and operating systems, enterprise products, and hardware. These are just a few of the products and services it provides: Google Search, Google Chrome, Google Docs, Google Calendar, Google Photos, Google Meet, Google Drive, Google Finance, Google Play Books, Google News, Google Earth, Google Ad Manager, Google Play, AdMob, Google Maps, AdSense, Gmail, Google Groups, and YouTube. The business has operations in the Americas, Europe, Asia-Pacific, Middle East, and Africa. Google's main office is located in Mountain View, California, in the United States.
Wearable technology, smartphones, tablets, and personal computers are all produced, sold, and created by Apple Inc. (Apple). The company additionally offers accessories, software, connected services, and digital content from third parties. Among Apple's product lines are the iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV. It offers both consumer and commercial software solutions, like as iCloud, AppleCare, Apple Pay, iOS, macOS, iPadOS, and watchOS. Apple offers and distributes digital material and programs via the App Store, Apple Arcade, Apple News+, Apple Fitness+, Apple Card, Apple TV+, and Apple Music. Cloud services, financial services, and advertising services are also provided by the company. The corporation has a commercial presence throughout the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Apple is based in Cupertino, California, a city in the United States.
August 2023: Apple Inc. acquired Foxconn servers for testing its AI services.
Solutions
Services
Automotive
Home Goods & Furniture
Beauty & Cosmetics
Apparel Fittings
Grocery Shopping
Footwear
Others
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 3.8 Billion |
| Market Size 2023 | USD 4.8 Billion |
| Market Size 2032 | USD 36.3 Billion |
| Compound Annual Growth Rate (CAGR) | 28.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Apple Inc., Augment, Blippar Ltd, Google LLC, Holition Ltd., Imaginate Technologies, Marxent Labs LLC, Microsoft, PTC, ViewAR GmbH, Wikitude GmbH, Zugara, Inc. |
| Key Market Opportunities | Growing adoption of online shopping and e-commerce platforms. |
| Key Market Dynamics | Advancements in AR technology. |
Frequently Asked Questions (FAQ) :
The Augmented Reality (AR) Shopping Market size was valued at USD 3.8 Billion in 2022.
The global market is projected to grow at a CAGR of 28.50 % during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Apple Inc., Augment, Blippar Ltd, Google LLC, Holition Ltd., Imaginate Technologies, Marxent Labs LLC, Microsoft, PTC, ViewAR GmbH, Wikitude GmbH, Zugara, Inc.
The Solutions category dominated the market in 2022.
The Home Goods & Furniture had the largest share in the global market.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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