Product Code: ETC4453645 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India augmented reality in retail market import shipment experienced a significant decline with a CAGR of -24.3% from 2020 to 2024. The growth rate between 2023 and 2024 further dropped by -34.4%, indicating a continued slowdown in market expansion over the period.
The India Augmented Reality (AR) in Retail market is witnessing significant growth as retailers embrace this technology to enhance the shopping experience. AR in retail involves applications that allow customers to visualize products, try them virtually, and access additional product information through their smartphones or AR devices. In India, AR in retail is becoming a competitive advantage for businesses looking to engage customers and drive sales. As technology and consumer expectations evolve, the India AR in Retail market is expected to expand, offering new ways for retailers to attract and retain customers.
The India Augmented Reality in Retail market has experienced growth, primarily due to the adoption of AR technology to enhance the retail shopping experience. A key driver of this market is the increasing use of AR for virtual try-on solutions. Retailers are leveraging AR to allow customers to visualize products, such as clothing and cosmetics, before making a purchase. This technology has gained significance during the COVID-19 pandemic when in-store trials were limited. Additionally, AR is used for interactive product information and navigation within retail spaces, making shopping more engaging. As consumer preferences continue to evolve, and as retailers seek innovative ways to attract and retain customers, the adoption of AR in the retail sector is expected to grow.
Challenges in the augmented reality in retail market include the need for seamless integration of AR into the retail environment. Privacy concerns and the development of compelling AR retail experiences are hurdles. Adoption may require a cultural shift in the retail industry.
The COVID-19 pandemic accelerated the adoption of augmented reality (AR) in the India retail sector. With lockdowns and social distancing measures in place, retailers turned to AR to offer virtual try-on experiences, product visualization, and interactive shopping through mobile apps. The pandemic also highlighted the importance of contactless shopping and enhanced customer engagement, which AR facilitates. As the retail industry continues to adapt to changing consumer preferences, the India AR in retail market is expected to witness sustained growth in the post-pandemic era.
Augmented reality is making significant inroads into the India retail sector, and several key players are contributing to its adoption. Blippar, a global AR company, offers AR solutions for retail marketing and product visualization, enhancing the shopping experience. InGage is another notable player that specializes in AR solutions for retail, helping brands engage customers through interactive experiences. Moreover, major e-commerce players like Flipkart and Amazon India have integrated AR features into their mobile apps, allowing customers to visualize products in their real-world environments, further promoting the use of AR in retail.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Augmented Reality in Retail Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Augmented Reality in Retail Market Revenues & Volume, 2021 & 2031F |
3.3 India Augmented Reality in Retail Market - Industry Life Cycle |
3.4 India Augmented Reality in Retail Market - Porter's Five Forces |
3.5 India Augmented Reality in Retail Market Revenues & Volume Share, By Offering , 2021 & 2031F |
3.6 India Augmented Reality in Retail Market Revenues & Volume Share, By Device Type , 2021 & 2031F |
3.7 India Augmented Reality in Retail Market Revenues & Volume Share, By Application , 2021 & 2031F |
3.8 India Augmented Reality in Retail Market Revenues & Volume Share, By Technology, 2021 & 2031F |
3.9 India Augmented Reality in Retail Market Revenues & Volume Share, By Retail Type, 2021 & 2031F |
4 India Augmented Reality in Retail Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing adoption of advanced technologies in the retail sector |
4.2.2 Growing demand for enhanced customer experiences and personalized shopping |
4.2.3 Rise of e-commerce platforms and omnichannel retail strategies in India |
4.3 Market Restraints |
4.3.1 High initial investment costs associated with implementing augmented reality technology in retail |
4.3.2 Limited awareness and understanding of augmented reality among consumers and retailers |
4.3.3 Lack of skilled professionals and expertise in developing and implementing AR solutions in the retail sector |
5 India Augmented Reality in Retail Market Trends |
6 India Augmented Reality in Retail Market, By Types |
6.1 India Augmented Reality in Retail Market, By Offering |
6.1.1 Overview and Analysis |
6.1.2 India Augmented Reality in Retail Market Revenues & Volume, By Offering , 2021-2031F |
6.1.3 India Augmented Reality in Retail Market Revenues & Volume, By Hardware , 2021-2031F |
6.1.4 India Augmented Reality in Retail Market Revenues & Volume, By Software, 2021-2031F |
6.2 India Augmented Reality in Retail Market, By Device Type |
6.2.1 Overview and Analysis |
6.2.2 India Augmented Reality in Retail Market Revenues & Volume, By Head-Mounted Display (HMD), 2021-2031F |
6.2.3 India Augmented Reality in Retail Market Revenues & Volume, By Smart AR Mirror, 2021-2031F |
6.2.4 India Augmented Reality in Retail Market Revenues & Volume, By Handheld Device, 2021-2031F |
6.3 India Augmented Reality in Retail Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 India Augmented Reality in Retail Market Revenues & Volume, By Advertising and Marketing, 2021-2031F |
6.3.3 India Augmented Reality in Retail Market Revenues & Volume, By Try-on Solutions, 2021-2031F |
6.3.4 India Augmented Reality in Retail Market Revenues & Volume, By Planning and Designing, 2021-2031F |
6.3.5 India Augmented Reality in Retail Market Revenues & Volume, By Information Systems, 2021-2031F |
6.4 India Augmented Reality in Retail Market, By Technology |
6.4.1 Overview and Analysis |
6.4.2 India Augmented Reality in Retail Market Revenues & Volume, By Marker-based Augmented Reality, 2021-2031F |
6.4.3 India Augmented Reality in Retail Market Revenues & Volume, By Marker-less Augmented Reality, 2021-2031F |
6.5 India Augmented Reality in Retail Market, By Retail Type |
6.5.1 Overview and Analysis |
6.5.2 India Augmented Reality in Retail Market Revenues & Volume, By Jewelry, 2021-2031F |
6.5.3 India Augmented Reality in Retail Market Revenues & Volume, By Beauty and Cosmetics, 2021-2031F |
6.5.4 India Augmented Reality in Retail Market Revenues & Volume, By Apparel Fitting, 2021-2031F |
6.5.5 India Augmented Reality in Retail Market Revenues & Volume, By Furniture and Lighting, 2021-2031F |
6.5.6 India Augmented Reality in Retail Market Revenues & Volume, By Grocery Shopping, 2021-2031F |
6.5.7 India Augmented Reality in Retail Market Revenues & Volume, By Footwear, 2021-2031F |
7 India Augmented Reality in Retail Market Import-Export Trade Statistics |
7.1 India Augmented Reality in Retail Market Export to Major Countries |
7.2 India Augmented Reality in Retail Market Imports from Major Countries |
8 India Augmented Reality in Retail Market Key Performance Indicators |
8.1 Average time spent by customers engaging with AR experiences in retail stores |
8.2 Number of retailers integrating AR technology into their marketing and sales strategies |
8.3 Increase in footfall and dwell time in stores that offer AR experiences |
9 India Augmented Reality in Retail Market - Opportunity Assessment |
9.1 India Augmented Reality in Retail Market Opportunity Assessment, By Offering , 2021 & 2031F |
9.2 India Augmented Reality in Retail Market Opportunity Assessment, By Device Type , 2021 & 2031F |
9.3 India Augmented Reality in Retail Market Opportunity Assessment, By Application , 2021 & 2031F |
9.4 India Augmented Reality in Retail Market Opportunity Assessment, By Technology, 2021 & 2031F |
9.5 India Augmented Reality in Retail Market Opportunity Assessment, By Retail Type, 2021 & 2031F |
10 India Augmented Reality in Retail Market - Competitive Landscape |
10.1 India Augmented Reality in Retail Market Revenue Share, By Companies, 2024 |
10.2 India Augmented Reality in Retail Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |