The Augmented Reality & Virtual Reality Market is to Touch $27.48 billion by 2030; Expanding the demand for e-commerce integration through augmented reality (AR) and virtual reality (VR) and Innovative marketing campaigns are fueling the growing demand for Augmented Reality (AR) and Virtual Reality (VR) technologies in the retail sector propels market growth.

The Augmented Reality & Virtual Reality Market size is estimated to reach $27.48 billion by 2030, growing at a CAGR of 23.9% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Augmented Reality & Virtual Reality Market – By Device Type (Augmented Reality Devices (Head-Mounted Displays, Head-Up Displays (HUD), Handheld Devices), Virtual Reality Devices (Head-Mounted Displays (HMD), Gesture Control Devices, Data Gloves, Others)), By Offering Type (Hardware, and Software), By Application (Groceries, Dining, Home-furnishing, Fashion, Electronics, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” Expanding the demand for e-commerce integration through augmented reality (AR) and virtual reality (VR) and Innovative marketing campaigns are fueling the growing demand for Augmented Reality (AR) and Virtual Reality (VR) technologies in the retail sector are fueling the growth of the Augmented Reality & Virtual Reality industry during the forecast period.

In 2023, Asia Pacific dominated the Ammonium Acetate Market, holding the largest share at approximately 38.5%. The region’s Augmented Reality (AR) and Virtual Reality (VR) market in the retail sector is also experiencing significant growth, driven by the increasing adoption of smart devices, particularly smartphones. As smartphone usage rises, these devices are becoming essential platforms for delivering AR and VR experiences, facilitating broader access to these technologies. The integration of AR and VR with smartphones makes these experiences more accessible and user-friendly, boosting adoption rates in the retail sector. This demand is further fueled by the immersive and interactive nature of AR and VR, transforming how consumers interact with products and services. Retailers are utilizing these technologies to create personalized and engaging shopping experiences, thereby enhancing customer engagement and satisfaction. The rising dependence on smart devices sets a solid foundation for the continued expansion of AR and VR solutions within the Asia Pacific retail industry.

Expanding the demand for e-commerce integration through augmented reality (AR) and virtual reality (VR) Fuels Market Expansion:

The rising demand for integrating Augmented Reality (AR) and Virtual Reality (VR) in e-commerce is revolutionizing the retail industry by offering a highly engaging, immersive experience. AR allows customers to virtually place products in their own environment through smartphone cameras, enhancing the decision-making process by providing a realistic preview of items. This innovative approach bridges the gap between online and in-store shopping, increasing consumer confidence and driving engagement. Consequently, retailers are increasingly adopting AR and VR technologies, transforming e-commerce into an interactive and dynamic shopping experience.

Innovative marketing campaigns are fueling the growing demand for Augmented Reality (AR) and Virtual Reality (VR) technologies in the retail sector.

The retail industry's demand for Augmented Reality (AR) and Virtual Reality (VR) technologies is rapidly rising as innovative marketing campaigns gain momentum. AR enables interactive advertising, generating excitement around product launches and increasing consumer engagement. At the same time, VR offers immersive storytelling, enhancing brand awareness and creating lasting impressions on consumers. Retailers are increasingly recognizing the potential of these technologies to deliver unique, memorable customer experiences. Consequently, the AR and VR market within retail is experiencing strong growth, fueled by the industry’s drive to adopt these advanced tools for dynamic marketing strategies and to maintain a competitive edge.

• In February 2022, Infosys launched the Infosys Metaverse Foundry with the goal of streamlining and accelerating enterprises' entry into the metaverse. This platform supports the exploration of virtual and augmented environments to enhance customer experiences, improve workplace integration, and drive operational improvements.

• In November 2022, Samsung significantly increased its focus on augmented and virtual reality, highlighted by new trademarks and strategic partnerships. The company appears set to introduce multiple devices, underlining its strong commitment to advancing AR technologies and broadening its product offerings.

Key companies profiled in the Augmented Reality & Virtual Reality Market are Ikea, Sephora, Google LLC, Infosys Ltd, Intel Corporation, Microsoft Corporation, PTC Inc., BMW, Samsung Electronics Co and others.