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Augmented Reality in Marketing Market: Rapid Growth, Innovations, Size, and Trends
Augmented Reality (AR) is Reshaping Marketing and Advertising, Boosting Consumer Engagement and Interactions, and Transforming E-Commerce
What Is The Projected Market Size Of The Global Augmented Reality In Marketing Market And Its Growth Rate?
The AR in marketing market has seen significant growth and is expected to continue this upward trend:
- The market that was valued at $5.23 billion in 2024 is predicted to grow to $5.84 billion in 2025, reflecting a CAGR of 11.7%.
- This growth is mainly due to enhanced consumer engagement, novelty and innovation appeal, brand differentiation strategies, and increased smartphone adoption.
- By 2029 the market is likely to almost double to $10.23 billion with a projected CAGR of 15.1%, influenced by the growing integration of AR in e-commerce, social media applications, event marketing, and advanced data analytics.
What Is Driving The Growth In The Augmented Reality In Marketing Market?
For recent years, the increasing demand for AR in the retail and e-commerce sectors is triggering the growth of the AR marketing market. Retail involves the sale of products from businesses to final consumers, while e-commerce is the internet-based trading of goods and services. The use of AR technology in these areas offers customers a unique, immersive experience. Users can now test products in a virtual environment, contributing to informed buying decisions and reducing return rates. Retail conversion rates have increased by almost 250% with the adoption of AR, according to Shopify in July 2022. Similarly, customers using AR are spending almost three times longer on the Houzz app making purchases 11 times more frequently.
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Who Are the Key Players Driving Augmented Reality In Marketing Market Growth?
The key players driving the growth in the AR Marketing market include:
- Microsoft Corporation
- Google LLC
- Sony Corporation
- Magic Leap Incorporated
- Wikitude GmbH
- Zugara Inc.
- Apple Inc.
- Blippar Limited
- Infinity Augmented Reality Limited
- Niantic Inc., and many others.
What Are The Key Trends In The Augmented Reality In Marketing Market?
Key trends in the AR in Marketing market include:
- Implementation of virtual try-on experiences
- Development of AR-enhanced packaging
- Incorporation of AR in location-based marketing
- Expansion in event marketing
- Utilization of AR analytics for performance measurement
What Are The Segments Of The Global Augmented Reality In Marketing Market?
The Global Augmented Reality in Marketing Market is segmented by:
1) Component: Hardware, Software
2) Device Type: Head-Mounted Display & Smart Glass, Head-Up Display, Handheld Devices, Stationary AR Systems, Smart Glasses, Other Types
3) Technology: Marker-Based AR Technology, Markerless AR Technology, Anchor-Based AR Technology
4) Application: Consumer, Commercial, Enterprise, Healthcare, Aerospace And Defense, Energy, Automotive, Other Applications
Which Region Leads The Augmented Reality In Marketing Market?
North America held the largest market share in the augmented reality in marketing market in 2024. The regions discussed in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Augmented Reality In Marketing Market Global Market Report?
- Market Size Analysis: Analyze the Augmented Reality In Marketing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Augmented Reality In Marketing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Augmented Reality In Marketing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Augmented Reality In Marketing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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