It is anticipated that the global augmented reality for retail market will be worth roughly US$ 2.36 billion in 2022 and will grow at an amazing CAGR of roughly 43% to 46% over the course of the forecast period, reaching roughly US$ 23.0 billion by the end of 2032. Increased use of cutting-edge technology like augmented reality by retail businesses such specialty shops, malls, supermarkets, department stores, and others is driving market expansion.
As virtual reality and augmented reality became more widely used in a variety of applications, there was an increase in the demand for augmented reality in various devices. It has lately been incorporated into eyeglasses with the introduction of augmented reality glasses.
A user’s glasses could provide information about their surroundings thanks to augmented reality technology. Furthermore, using augmented reality glasses effectively superimposes virtual items on the real world. Holographic items can also be efficiently interacted with thanks to the sensors and position trackers integrated into smart augmented reality glasses.
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Augmented Reality Glasses Market: Drivers and Restraints
The expanding acceptance and use of augmented reality and virtual reality, which is accelerating the shift to digitalization, is the driving force behind augmented reality glasses. Rising smart phone and tablet adoption rates as well as increased internet usage are further factors driving the market for augmented reality glasses.
The decline in the average price of these gadgets is another factor affecting the uptake of augmented reality glasses. In addition, factors including rising demand in the healthcare and defence industries, location-based search, and gaming applications are propelling the augmented reality market.
Since augmented reality glasses are still in the research and development phase, the biggest obstacle preventing the market’s growth is consumer ignorance. The pricey nature of augmented reality glasses also prevents their widespread development and use, despite price drops.
Global Augmented Reality Glasses Market Technology Trends
The recent trend governing the growth of augmented reality glasses market is its transition into mixed reality glasses with new technological implementations such as position tracking and presence of depth sensors.
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Global Augmented Reality Glasses Competitive Landscape
In February 2017, Toshiba Corporation partnered with Vuzix Corporatin. The partnership aimed at the development of a smart augmented reality glasses, enabling augmented reality to its users. Some of the major global augmented reality glasses market players include Microsoft Corporation, Google, SEIKO EPSON CORP., Laster Technologies, Penny, Sony Mobile Communications Inc., Recon Instruments, LUMUS.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Key Segments Profiled in the Augmented Reality for Retail Industry Survey
By Retail Type:
- Furniture
- Apparel
- Groceries
- Footwear
- Cosmetics
- Jewelry
- Others
By Component:
- Hardware
- Software
By Application:
- Malls
- Specialty Stores
- Supermarkets
- Department Stores
- e-Commerce
- Others
By Business Size:
- Large Retailers
- Medium Retailers
- Small Retailers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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