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Augmented Reality in Retail Projected to Experience Massive Growth

But major obstacles remain, including high installation costs and privacy concerns.




Augmented Reality in Retail Projected to Experience Massive Growth

Augmented reality (AR) in the retail market could be on the cusp of a massive growth spurt. A new report from Research and Markets said AR investments in retail were valued at roughly $2 billion in 2021, but that number is expected to explode to $61.3 billion by 2031.

The report begins by defining AR and its potential: “Augmented reality enhances the real world using digitally produced perceptual overlays,” the report states. “Furthermore, increases in investments in the AR market and the surge in penetration of smartphones boost the growth of the global AR in the retail market.”

Despite that, “security and privacy concerns associated with AR and high set-up and installation costs of AR solutions hamper the market growth,” the report notes.

The report then segments AR in the retail market by component, device type, application, retail type and region.

“By component, the market is classified into hardware, software, and services. By device, the market is divided into head-mounted displays, smart AR mirrors and handheld devices. By application, it is categorized into advertising and marketing, try-on solutions, planning and designing, and information systems. By retail type, the market is divided into jewelry, beauty and cosmetics, apparel fitting, furniture and lighting, grocery shopping, footwear and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report also identifies and profiles key players in retail-related AR, including:, Inc., Apple Inc., Google, Inter IKEA Systems B.V., Microsoft Corp. and Sephora USA Inc. “These players have adopted various strategies to increase their market penetration and strengthen their position in the industry,” the report noted.


Click here for more from the report. (The report in its entirety is available for purchase.)



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Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

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