News • 27.07.2018

Online shopping increases interest to adopt AR

Major driving factor for augmented reality in retail market

AR; Copyright: panthermedia.net/nednapa
Source: panthermedia.net/nednapa

The augmented reality in retail market is expected to be 1,155.8 million US dollars in 2018 and is projected to reach 7951.2 million US dollars by 2023, at a CAGR of 47.1 percent 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 for head-mounted displays to grow at high rate

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.

AR for planning and designing applications is leading

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 overall

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 percent 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.

Source: Reportbuyer

related articles:

popular articles:

Thumbnail-Photo: POS machine market growth
27.08.2019   #epos systems #pos systems

POS machine market growth

Driver: Adoption of mobile devices for POS transaction

The number of POS machines has increased in the past four years following the introduction of chip-embedded payment cards & Personal Identification Number (PIN). Moreover, growth in the number of departmental and retail stores, which is fueling ...

Thumbnail-Photo: Retail analytics: Breaking down data silos and improving operational...
29.07.2019   #data management #data analysis

Retail analytics: Breaking down data silos and improving operational efficiency

How comprehensive data usage led to higher revenue at Heine

“As a business with heritage in mail order, we used to have access to detailed reports about product performance in our catalogues. Once our digital presence grew, we had very limited information available that combined the KPIs for both our ...

Thumbnail-Photo: App creates personalised shopping experience...
26.08.2019   #mobile payment #app

App creates personalised shopping experience

The Swiss trading company Valora is opening its first cashless convenience store

The goods are chosen, scanned and paid for using the avec smartphone app. Mobile computer vision specialists Scandit’s scan engine is a key component of the customer-facing app. The future of shopping - whether online or offline - is ...

Thumbnail-Photo: Enhanced, interactive, virtual – It’s all about the experience!...
21.11.2019   #online trading #customer satisfaction

Enhanced, interactive, virtual – It’s all about the experience!

AR and VR can boost online and offline retail

New technologies permeate all aspects of the retail business, whether it’s self-checkouts, AI or robotics. Virtual and Augmented Reality (VR and AR) are yet other components in this setting. In this interview with iXtenso, Kelly Goetsch, ...

Thumbnail-Photo: Smart meters: Be proactive and reap the benefits...
12.08.2019   #energy optimization #electrical installation

Smart meters: Be proactive and reap the benefits

The Metering Point Operation Act calls for smart meter rollout

The black and analog electric meter box has become obsolete: The mandatory smart meter rollout will commence in a few months. What does the installation of digital, smart electric meters mean for retailers and chain stores? ...

Thumbnail-Photo: Irma: flagship store in Copenhagen
30.10.2019   #electronic shelf labels (ESL) #price labelling

Irma: flagship store in Copenhagen

Denmark's oldest grocery chain opens a new store

At the same time Irma, a Danish grocery chain, could celebrate its 133rd birthday, the chain also opened a new flagship store at Østerport station in Copenhagen. Besides showing renewal and being able to ensure the customers updated prices ...

Thumbnail-Photo: “Money left on the table”
19.11.2019   #customer satisfaction #customer analysis

“Money left on the table”

Mark Thomson from Zebra explains why stock management is essential for retailers

Zebra Technologies Corporation did a study on attitudes of shoppers and their buying behavior. It shows that more than half of Generation X shoppers shopped in a store and left without a purchase only to end up purchasing the item ...

Thumbnail-Photo: Silver Surfers: Older adults ride the wave of mobile technology and shop...
01.08.2019   #online trading #e-commerce

Silver Surfers: Older adults ride the wave of mobile technology and shop online

The increasing importance of e-commerce for senior citizens

You are wrong if you think it’s mostly young people who spend time online. Older adults are also increasingly embracing online shopping with enthusiasm.In this interview, Spencer Hinzen, Director of Sales, Central Region, Ruckus Networks, ...

Thumbnail-Photo: drs//POS – The POS system for many check-out situations...
13.09.2019   #pos systems #cashpoints

drs//POS – The POS system for many check-out situations

With the POS system developed by Superdata you are put in the picture

The POS acts as an ear in the store. It affects how timely, and with what information, decision makers at the head office are in a position to assess developments in the store and are able to respond appropriately to the situation.With our POS ...

Thumbnail-Photo: Making Deeper Connections at ISE 2020
21.11.2019   #digital signage #video

Making Deeper Connections at ISE 2020

Visitor registration opens; exciting new features; most conferences ever; opening address confirmed

Visitor registration opens today for ISE 2020, which is set to be the most compelling Integrated Systems Europe show ever. Taking place at the RAI Amsterdam on 11-14 February 2020, ISE is the world’s leading event for the professional systems ...

Supplier

iXtenso - Magazin für den Einzelhandel
iXtenso - Magazin für den Einzelhandel
Celsiusstraße 43
53125 Bonn
Permaplay Media Solutions GmbH
Permaplay Media Solutions GmbH
Aschmattstr. 8
76532 Baden-Baden
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
Superdata GmbH
Superdata GmbH
Ruhrstr. 90
22761 Hamburg