Augmented reality in retail is set to be worth more than $12 billion by 2025 as more brands transform their shopping platforms to “interactive experiences”.
According to new data from global tech advisory firm ABI Research, the pandemic-driven boom in online shopping has forced brands to embrace emerging technologies like AR and virtual stores.
This acceleration of its adoption, aided by advancements in the democratisation of new technologies, will see the AR market in retail, commerce and marketing surpass $12 billion in the next four years.
“The advancements in face and spatial recognition in combination with WebAR and other content democratization efforts will be game changers for virtual try on and product preview experiences, allowing consumers to seamlessly access interactive and realistic AR content,” ABI research analyst Eleftheria Kouri said.
“Within the next two years, more and more brands will transfer their marketing campaigns and online shopping platforms from static webpages and 2D images to interactive experiences and platforms”.
Brands like ThreeKit and Cappacity have launched a number of 3D content creation tools over the last few years, making AR technology more accessible and affordable for retailers.
Alongside these AR platform providers, tech giants including Amazon, Facebook and Apple have started developing their own solutions, while major retailers like Ikea and Nike have rolled out AR tools for customers.
“Online shopping will continue to grow after the pandemic, especially in product categories supported by AR experiences such as make-up, clothing, and furniture,” Kouri added.
“As data continues to come in supporting the success and ROI of AR/VR marketing efforts and satisfaction around user experiences, expect further investment and activity in the space as online retail and immersive content become increasingly partnered.”