Press release
Augmented Reality for Retail Market (2018-2028) | Segmentation Based on retail type, component, application, business size and region
Several forward thinking e-Commerce retailers and shop owners are incorporating Augmented Reality for Retail to enhance the customer experience. Both, in-store and online retailers acknowledge the fact that, by integrating Augmented Reality for Retail, they can increase their sales. Quite literally, in the case of e-Commercial businesses, Augmented Reality for Retail puts the shopping experience directly in the user’s hands.
Though developers are still upgrading Augmented Reality for Retail, in the case of store-owning businesses, customers visiting the store sit in front of a mirror that uses augmented reality to scan an image of them, after which, customers can view themselves virtually wearing the product in the mirror. Such upgrades have already been introduced to Augmented Reality for Retail market.
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Augmented Reality for Retail Market: Drivers & Challenges
Augmented Reality for Retail improves a customer’s overall shopping experience, and enhances the way in which retailers engage with their prospects. This factor is expected to drive the global Augmented Reality for Retail market. Augmented Reality for Retail enables the creation of immersive product and services catalogs with preview features. Augmented Reality for Retail also enable retailers in the e-Commerce sector to mitigate the disadvantages of not owning a showroom using augmented reality-based product catalogs and applications. Augmented Reality for Retail provides a customization feature for the UX content as per the user’s requirements. Another benefit of Augmented Reality for Retail market is that prospective customers in the field of apparel, and cosmetics and accessories can try out the products virtually. By integrating Augmented Reality for Retail, designers and contractors can allow their clients to preview and visualize a vast selection of designs before finalizing their selections. Due to this feature offered by Augmented Reality for Retail, the product return rate is also reduced, and customer loyalty and satisfaction is enhanced. This factor will play a major role in driving the global Augmented Reality for Retail market. Augmented Reality for Retail makes in-store navigation much more informative and easy, and enables customers to find and filter out their choices quickly. Augmented reality can be used to develop presentations for products that appeal to the prospect’s emotions, and offer a sensational and interactive user experience. Augmented Reality for Retail enables smart marketing, using which, product pictures and billboards can create an immersive story when viewed via augmented reality-powered apps.
Though developers offer their Augmented Reality for Retail solutions integrated with optimal customizations, augmented reality is not an established channel to fulfill the purpose of consumer engagement. Expensive development expenditure and lack of awareness among small-time businesses are some factors that are expected to hinder the growth of the overall global Augmented Reality for Retail market.
Augmented Reality for Retail Market: Segmentation
The global Augmented Reality for Retail market can be segmented on the basis of retail type, component, application, business size, and region.
On the basis of retail type, the global Augmented Reality for Retail market can be segmented into the following:
Furniture
Apparel
Groceries
Footwear
Cosmetics
Jewelry
Others
On the basis of component, the global Augmented Reality for Retail market can be segmented into the following:
Hardware
Software
On the basis of application, the global Augmented Reality for Retail market can be segmented into the following:
Malls
Specialty Stores
Supermarkets
Department Stores
e-Commerce
Others
On the basis of business size, the global Augmented Reality for Retail market can be segmented into the following:
Large Retailers
Medium Retailers
Small Retailers
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Augmented Reality for Retail Market: Regional Outlook
Among all the business regions, North America leads the global Augmented Reality for Retail market. North America is also expected to register the highest growth rate and dominate the global Augmented Reality for Retail market during the forecast period, due to the high presence of augmented reality and user experience content developers in the region. Increasing competition among apparel and cosmetic business owners motivates them to integrate Augmented Reality for Retail.
Augmented Reality for Retail Market: Key Players
Some of the key players in the global Augmented Reality for Retail market include Augmented Pixels Inc, Blippar, Contus, Inde, Apphitect, Cortex, ValueCoders.com, Intellectsoft US, Xenium Digital, and Virtualware, among others.
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