The augmented reality (AR) shopping market is estimated to be valued at USD 4.9 billion in 2024. The augmented reality (AR) shopping is predicted to rise at a CAGR of 28% from 2024 to 2034. The global augmented reality (AR) shopping market is anticipated to reach USD 58 billion by 2034.
The widespread use of smartphones and other mobile devices makes AR shopping solutions accessible to a large audience. Consumers can easily engage with AR experiences without the need for specialized hardware, contributing to the broad adoption of these solutions.
As online shopping continues to grow, AR solutions are integrated into e-commerce platforms and mobile applications. This integration allows consumers to access AR features seamlessly, making it convenient for them to experience augmented reality while browsing products online.
The integration of AI technologies with AR shopping can enhance personalization and recommendation systems. AI algorithms can analyze user preferences, behaviors, and purchase history to deliver more accurate and tailored AR shopping experiences.
Continued advancements in AR technology, including more sophisticated tracking, rendering, and object recognition capabilities, will contribute to enhanced AR shopping experiences. The technology's ability to seamlessly integrate with the real world is expected to improve.
Attributes | Key Insights |
---|---|
Estimated Market Size in 2024 | USD 4.9 billion |
Projected Market Value in 2034 | USD 58 billion |
Value-based CAGR from 2024 to 2034 | 28% |
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From 2019 to 2023, the augmented reality (AR) shopping market experienced a CAGR of 30.8% in market value. The progress in AR technology, specifically in the domains of enhanced tracking, rendering capabilities, and user interfaces, has played a pivotal role in creating smoother and seamless AR shopping experiences.
The prevalent use of smartphones and the existence of advanced digital infrastructure further enhance the favorable conditions for the integration of AR in the shopping landscape. Fashion and beauty brands increasingly adopted virtual try-on solutions, allowing users to try on clothing, accessories, and makeup virtually. E-commerce platforms and major retailers integrated AR features into their apps and websites to differentiate themselves and attract tech-savvy consumers.
AR shopping is likely to extend beyond fashion and furniture to encompass a broader range of product categories. Virtual try-on experiences and product visualization will likely become more prevalent in areas such as electronics, home appliances, and even groceries. Projections indicate that the global augmented reality (AR) shopping market is expected to experience a CAGR of 28% from 2024 to 2034.
Historical CAGR from 2019 to 2023 | 30.8% |
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Forecast CAGR from 2024 to 2034 | 28% |
The following table shows the top five countries by revenue, led by South Korea and the United Kingdom. The growing demand for personalized and immersive shopping experiences in the United Kingdom contributing to the growth of AR in Shopping.
The widespread use of smartphones and advanced digital infrastructure creates a favorable environment for the adoption of AR shopping experiences in South Korea.
Countries | The Forecast CAGRs from 2024 to 2034 |
---|---|
The United States | 28.4% |
The United Kingdom | 29.3% |
China | 28.6% |
Japan | 28.7% |
South Korea | 31.3% |
The augmented reality (AR) shopping market in the United States is expected to grow with a staggering CAGR of 28.4% from 2024 to 2034. The growth of the market in the country is attributed to the presence of tech-savvy consumers who are early adopters of new technologies.
The willingness of consumers to embrace innovative shopping experiences, including AR, contributes to the growth of the market. The well-established and highly competitive e-commerce market drives the market growth in the United States.
Many retailers and e-commerce platforms in the country are integrating AR features to enhance the online shopping experience, providing consumers with virtual try-on options and interactive product visualizations. Prominent retailers and brands in the United States are increasingly adopting AR shopping solutions to differentiate themselves and stay competitive.
The augmented reality (AR) shopping market in China is expected to grow with a CAGR of 28.6% from 2024 to 2034. High smartphone penetration in China provides a favorable environment for the adoption of mobile AR applications. Consumers can easily access AR shopping features on their mobile devices, contributing to widespread adoption.
China has a massive and rapidly growing e-commerce market, with platforms like Alibaba's Taobao and JD.com leading the way. These platforms have been quick to adopt AR shopping features to enhance the online shopping experience, including virtual try-on and product visualization.
The augmented reality (AR) shopping market in the United Kingdom is expected to grow with a CAGR of 29.3% from 2024 to 2034. The United Kingdom is a major hub for fashion and retail, and the industry's influence contributes to the adoption of AR shopping solutions. Virtual try-on experiences for clothing, accessories, and beauty products are particularly popular in the country.
The United Kingdom government's support for innovation and technology adoption can create an environment conducive to the growth of AR shopping. Policies and initiatives that promote digital innovation may contribute to the market's expansion.
The augmented reality (AR) shopping market in Japan is expected to grow with a CAGR of 28.7% from 2024 to 2034. E-commerce platforms and retailers in Japan are integrating AR features to enhance the online shopping experience. Virtual try-ons, product visualizations, and AR-powered advertisements are becoming more common in Japan.
Japan has a dynamic retail industry that values innovation. Retailers in the country are increasingly adopting technology, including AR, to enhance the customer experience and stay competitive.
The popularity of e-commerce in South Korea, along with the presence of major e-commerce platforms, has led to the integration of AR features. AR shopping solutions, including virtual try-ons and interactive product displays, enhance the online shopping experience. The augmented reality (AR) shopping market in South Korea is expected to grow with a CAGR of 31.3% from 2024 to 2034.
Developments in AR glasses and smart eyewear contribute to the demand for AR shopping experiences. The potential adoption of AR glasses in South Korea may open up new possibilities for immersive and hands-free shopping interactions.
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The below section shows the leading segment. The solutions segment accounts for a CAGR of 27.8% from 2024 to 2034. Based on application, the automotive segment is anticipated to hold a dominant share through 2034. It is set to exhibit a CAGR of 27.5% from 2024 to 2034.
Category | CAGR |
---|---|
Solutions | 27.8% |
Automotive | 27.5% |
Based on components, the solutions segment is anticipated to thrive at a CAGR of 27.8% from 2024 to 2034. AR shopping solutions provide a highly engaging and interactive experience for customers. Shoppers can visualize products in their real-world environment, try them virtually, and interact with digital content, leading to a more immersive and enjoyable shopping experience.
Virtual try-on solutions, particularly in the fashion and beauty industries, allow customers to see how clothing, accessories, or makeup will look on them before making a purchase. This feature addresses uncertainties related to size, fit, and style, increasing confidence in online shopping.
By offering virtual try-on experiences, AR shopping solutions help reduce the likelihood of returns due to mismatched expectations. Customers are more likely to make informed decisions, leading to higher conversion rates and improved overall customer satisfaction.
Based on application, the automotive segment is projected to rise at a 27.5% CAGR through 2034. AR shopping in automotive applications provides an immersive and interactive user experience. It allows drivers and passengers to access real-time information, navigation guidance, and contextual data, making the driving experience more engaging and enjoyable.
AR is commonly used in Head-Up Displays, where relevant information is projected onto the windshield, allowing drivers to receive crucial data without taking their eyes off the road. This includes navigation instructions, speed, and other important vehicle information.
Automotive manufacturers leverage AR for virtual showrooms and product customization. Customers can use AR apps to visualize different car models, explore interior options, and even virtually test-drive vehicles, enhancing the pre-purchase experience.
The market players are investing in the development of advanced AR features, such as virtual try-ons, interactive product visualizations, and AR-powered navigation, to provide users with compelling and immersive experiences.
The leading players are collaborating with retailers, e-commerce platforms, and fashion brands to integrate AR shopping solutions directly into their platforms, enhancing the overall shopping experience for consumers.
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 4.9 billion |
Projected Market Valuation in 2034 | USD 58 billion |
Value-based CAGR 2024 to 2034 | 28% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
Key Market Segments Covered | Component, Application, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
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. |
As of 2024, the market for augmented reality (AR) shopping is expected to be valued at USD 4.9 billion.
By 2034, the market value of augmented reality (AR) shopping is expected to reach USD 58 billion.
From 2024 to 2034, the augmented reality (AR) shopping market is expected to flourish at a CAGR of 28%
The solutions segment is expected to account for a CAGR of 27.8% from 2024 to 2034.
South Korea is likely the top-performing market, with a CAGR of 31.3%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component 5.1. Solutions 5.2. Services 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Automotive 6.2. Home Goods & Furniture 6.3. Beauty & Cosmetics 6.4. Apparel Fittings 6.5. Grocery Shopping 6.6. Footwear 6.7. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Apple Inc. 17.2. Augment 17.3. Blippar Ltd 17.4. Google LLC 17.5. Holition Ltd. 17.6. Imaginate Technologies 17.7. Marxent Labs LLC 17.8. Microsoft 17.9. PTC 17.10. ViewAR GmbH 17.11. Wikitude GmbH 17.12. Zugara Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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