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: Robots in retail: producer and salesperson all-in-one at the fully...
15.03.2019   #artificial intelligence #customer retention

Robots in retail: producer and salesperson all-in-one at the fully automated kiosk

Interview with Matthias Krinke, Managing Director of pi4_robotics GmbH

At Berlin’s shopping mall Bikini Berlin, we meet the robot “Gisela”. The robot’s designer Matthias Krinke sat down with us and explained what she can do and revealed what the retail industry can expect from her and her ...

Thumbnail-Photo: Social commerce 2.0: artificial intelligence detects purchase intention...
18.04.2019   #e-commerce #sustainability

Social commerce 2.0: artificial intelligence detects purchase intention

Choosy analyzes fashion trends on Instagram – and redesigns them

The fashion world moves at lightning speed – and more than ever thanks to the rise of social media. In the past, key trends emerged off the runways twice a year during fashion weeks. Now Instagram et al. set the tone daily thanks to feeds of ...

Thumbnail-Photo: New innovative hybrid POS solution for small businesses...
20.05.2019   #pos systems #cashpoints, cash register, cash desk

New innovative hybrid POS solution for small businesses

Posiflex presents a new innovative Hybrid POS solution for small businesses

The Retail market is always evolving, and so is Posiflex. Posiflex continually stays attached to the market and identifies ahead what the market really needs. Posiflex is honored to present its latest innovative Hybrid POS solution, WT-3007A, to the ...

Thumbnail-Photo: Interactive networking for true sales success...
06.03.2019   #digital signage #pos marketing

Interactive networking for true sales success

Smart distribution of video content at the POS

Modern retail marketing is all about communicating the right offers to the customers at the right time and in the right place. “In order to ensure the greatest possible efficiency and sales speed, for example during campaigns and special ...

Thumbnail-Photo: CIE 2019: Chinas premier B2B trade show
04.03.2019   #e-commerce #event

CIE 2019: China's premier B2B trade show

5th International Internet and E-commerce Expo in Shenzhen

CIE 2019, the 5th China (Shenzhen) International Internet and E-commerce Expo, is the premier B2B trade show in China that focuses specifically on internet technologies and e-commerce as well as the related industries. More than 400 exhibitors ...

Thumbnail-Photo: Introducing a new, powerful mobile POS in Posiflex’s MT series...
25.06.2019   #epos systems #cashpoints, cash register, cash desk

Introducing a new, powerful mobile POS in Posiflex’s MT series

MT-5310W from Posiflex combines the mobility of a tablet with the functionality of a fixed POS terminal. .

Today’s customers have higher expectations than ever when it comes to service. To meet and exceed customers’ ever-growing expectations, Posiflex is pleased to present MT-5310W, the latest addition to the popular MT series: a hybrid ...

Thumbnail-Photo: Welcome to the tenth edition of the RetailShow Exhibition...
22.03.2019   #e-commerce #cashpoints, cash register, cash desk

Welcome to the tenth edition of the RetailShow Exhibition

Exhibition of Equipment, Technology and Services for Retail

We kindly invite you to participate in the biggest, annual, B2B retail event in Poland: Exhibition of Equipment, Technology and Services for Retail – RetailShow. The closest, tenth edition will be held on 20-21 November 2019 in Warsaw, ...

Thumbnail-Photo: Secure networking for 8,800 locations
09.04.2019   #security #software developement

Secure networking for 8,800 locations

LANCOM and ecotel to build one of the largest SD-WANs in Europe

The German network infrastructure supplier LANCOM Systems and the Düsseldorf-based ICT company ecotel have concluded a far-reaching cooperation agreement to build one of the largest WAN projects featuring software-defined networking (SDN) in ...

Thumbnail-Photo: Changing markets: embracing disruption to harvest opportunity...
18.06.2019   #digitization #event

Changing markets: embracing disruption to harvest opportunity

Reporting from the first annual Retail & Brand Experience World Congress in Barcelona

More than 200 industry insiders highlighted the many challenges facing the retail sector today in interesting talks and lectures.Topics included the customer experience, the use of technologies, digital media, omnichannel strategies, personalization ...

Thumbnail-Photo: Online inventory management system
06.05.2019   #online trading #e-commerce

Online inventory management system

5 things e-commerce retailers should look for

In order to perform online efficiently as an Internet retailer, one needs to choose the most effective inventory management system. Its main features should include centralised user interface, full automation, automated stock checking and ...

Supplier

LANCOM Systems GmbH
LANCOM Systems GmbH
Adenauerstraße 20 / B2
52146 Würselen
ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
Permaplay Media Solutions GmbH
Permaplay Media Solutions GmbH
Aschmattstr. 8
76532 Baden-Baden
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen