Market Forecast by Countries (South Africa, Nigeria, Kenya, Rest of Africa), By Offering (Hardware , Software), By Device Type (Head-Mounted Display (HMD), Smart AR Mirror, Handheld Device), By Application (Advertising and Marketing, Try-on Solutions, Planning and Designing, Information Systems), By Technology (Marker-based Augmented Reality, Marker-less Augmented Reality), By Retail Type (Jewelry, Beauty and Cosmetics, Apparel Fitting, Furniture and Lighting, Grocery Shopping, Footwear, Others) And Competitive Landscape
Product Code: ETC4603142 | Publication Date: Jul 2023 | Updated Date: Mar 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 300 | |
Report Name | Africa Augmented Reality in Retail Market |
Forecast period | 2024-2030 |
CAGR | 8.2% |
Growing Sector | Retail |
Africa Augmented Reality In Retail Market report thoroughly covers the market By Countries, By Offering, By Device Type, By Application, By Technology, and By Retail Type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Augmented Reality In Retail Market is experiencing a notable surge in adoption, leveraging the potential of AR to transform shopping experiences across the continent. With a growing smartphone penetration rate and increased internet connectivity, retailers are exploring innovative ways to engage customers, personalize shopping journeys, and bridge the gap between online and in-store shopping. This technology allows consumers to visualize products in a real-world context, empowering decision-making and enhancing customer satisfaction.
According to 6Wresearch, the Africa Augmented Reality In Retail Market size is anticipated to reach a CAGR of 8.2% during the forecast period of 2024-2030. The growth of the market is being driven by several critical factors, including the digital transformation of the retail landscape and the increasing penetration of smartphones and internet connectivity across the continent. Major trends shaping this market include the integration of AR technology in online shopping to enhance customer experience through virtual try-ons and interactive 3D product visualizations. However, the industry faces restraints such as limited technological infrastructure in certain regions and the high cost of AR technology development and deployment.
Despite these challenges, emerging opportunities are abundant, spurred by the growing African middle class and their appetite for innovative retail experiences. Additionally, the push towards more personalized shopping experiences and the need for retailers to differentiate themselves in a competitive market are set to fuel the Africa Augmented Reality In Retail Market Growth.
The governments have recognized the potential of Augmented Reality (AR) in transforming the retail sector. Policies and schemes aimed at encouraging the adoption of AR technologies have been introduced across the continent. For instance, the South African Department of Trade and Industry has launched initiatives to subsidize technology adoption in retail, focusing on enhancing customer experiences and operational efficiencies. Meanwhile, the government of Kenya has partnered with tech companies to provide training and development programs on AR applications for retail businesses, aiming to boost the digital economy and create job opportunities.
The key players in the Africa Augmented Reality in Retail Market have taken significant strides, leveraging these government initiatives to innovate and expand their market presence. Companies such as Imisi 3D in Nigeria and Augmenta Africa in South Africa have been at the forefront, offering bespoke AR solutions that enhance the shopping experience, from virtual try-ons to in-store navigation and interactive displays.
The future of Africa Augmented Reality In Retail Industry holds vast potential. With increasing internet penetration and smartphone usage, the demand for AR-based shopping experiences is anticipated to surge. Moreover, the shift towards virtual fitting rooms, in-store navigation aids, and interactive displays will drive customer engagement and sales. Furthermore, advancements in AR technology and supportive government policies are anticipated to propel the market forward, making AR an integral part of the retail experience across Africa. As AR continues to evolve and become more seamless, there is no doubt that it will revolutionize the way consumers shop in Africa.
According to Rahul, Senior Research Analyst, 6Wresearch, the Marker-Less Augmented Reality is witnessing growth as it offers greater flexibility and ease of use for both retailers and consumers. With the rapid advancement of AR technologies and the increasing sophistication of smartphones, marker-less AR is becoming more prevalent, allowing for more seamless and interactive experiences.
By Retail Type, the Apparel Fitting segment leads the Africa Augmented Reality In Retail Market Share primarily due to the increasing demand for a virtual try-on experience, enabling consumers to see how clothes fit without the need for physical trials.
The report offers a comprehensive study of the subsequent market segments:
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 Africa Augmented Reality in Retail Market Overview |
3.1 Africa Regional Macro Economic Indicators |
3.2 Africa Augmented Reality in Retail Market Revenues & Volume, 2020 & 2030F |
3.3 Africa Augmented Reality in Retail Market - Industry Life Cycle |
3.4 Africa Augmented Reality in Retail Market - Porter's Five Forces |
3.5 Africa Augmented Reality in Retail Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Africa Augmented Reality in Retail Market Revenues & Volume Share, By Offering , 2020 & 2030F |
3.7 Africa Augmented Reality in Retail Market Revenues & Volume Share, By Device Type , 2020 & 2030F |
3.8 Africa Augmented Reality in Retail Market Revenues & Volume Share, By Application , 2020 & 2030F |
3.9 Africa Augmented Reality in Retail Market Revenues & Volume Share, By Technology, 2020 & 2030F |
3.10 Africa Augmented Reality in Retail Market Revenues & Volume Share, By Retail Type, 2020 & 2030F |
4 Africa Augmented Reality in Retail Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Africa Augmented Reality in Retail Market Trends |
6 Africa Augmented Reality in Retail Market, 2020-2030 |
6.1 Africa Augmented Reality in Retail Market, Revenues & Volume, By Offering , 2020-2030 |
6.2 Africa Augmented Reality in Retail Market, Revenues & Volume, By Device Type , 2020-2030 |
6.3 Africa Augmented Reality in Retail Market, Revenues & Volume, By Application , 2020-2030 |
6.4 Africa Augmented Reality in Retail Market, Revenues & Volume, By Technology, 2020-2030 |
6.5 Africa Augmented Reality in Retail Market, Revenues & Volume, By Retail Type, 2020-2030 |
7 South Africa Augmented Reality in Retail Market, 2020-2030 |
7.1 South Africa Augmented Reality in Retail Market, Revenues & Volume, By Offering , 2020-2030 |
7.2 South Africa Augmented Reality in Retail Market, Revenues & Volume, By Device Type , 2020-2030 |
7.3 South Africa Augmented Reality in Retail Market, Revenues & Volume, By Application , 2020-2030 |
7.4 South Africa Augmented Reality in Retail Market, Revenues & Volume, By Technology, 2020-2030 |
7.5 South Africa Augmented Reality in Retail Market, Revenues & Volume, By Retail Type, 2020-2030 |
8 Nigeria Augmented Reality in Retail Market, 2020-2030 |
8.1 Nigeria Augmented Reality in Retail Market, Revenues & Volume, By Offering , 2020-2030 |
8.2 Nigeria Augmented Reality in Retail Market, Revenues & Volume, By Device Type , 2020-2030 |
8.3 Nigeria Augmented Reality in Retail Market, Revenues & Volume, By Application , 2020-2030 |
8.4 Nigeria Augmented Reality in Retail Market, Revenues & Volume, By Technology, 2020-2030 |
8.5 Nigeria Augmented Reality in Retail Market, Revenues & Volume, By Retail Type, 2020-2030 |
9 Kenya Augmented Reality in Retail Market, 2020-2030 |
9.1 Kenya Augmented Reality in Retail Market, Revenues & Volume, By Offering , 2020-2030 |
9.2 Kenya Augmented Reality in Retail Market, Revenues & Volume, By Device Type , 2020-2030 |
9.3 Kenya Augmented Reality in Retail Market, Revenues & Volume, By Application , 2020-2030 |
9.4 Kenya Augmented Reality in Retail Market, Revenues & Volume, By Technology, 2020-2030 |
9.5 Kenya Augmented Reality in Retail Market, Revenues & Volume, By Retail Type, 2020-2030 |
10 Rest of Africa Augmented Reality in Retail Market, 2020-2030 |
10.1 Rest of Africa Augmented Reality in Retail Market, Revenues & Volume, By Offering , 2020-2030 |
10.2 Rest of Africa Augmented Reality in Retail Market, Revenues & Volume, By Device Type , 2020-2030 |
10.3 Rest of Africa Augmented Reality in Retail Market, Revenues & Volume, By Application , 2020-2030 |
10.4 Rest of Africa Augmented Reality in Retail Market, Revenues & Volume, By Technology, 2020-2030 |
10.5 Rest of Africa Augmented Reality in Retail Market, Revenues & Volume, By Retail Type, 2020-2030 |
11 Africa Augmented Reality in Retail Market Key Performance Indicators |
12 Africa Augmented Reality in Retail Market - Opportunity Assessment |
12.1 Africa Augmented Reality in Retail Market Opportunity Assessment, By Countries, 2020 & 2030F |
12.2 Africa Augmented Reality in Retail Market Opportunity Assessment, By Offering , 2020 & 2030F |
12.3 Africa Augmented Reality in Retail Market Opportunity Assessment, By Device Type , 2020 & 2030F |
12.4 Africa Augmented Reality in Retail Market Opportunity Assessment, By Application , 2020 & 2030F |
12.5 Africa Augmented Reality in Retail Market Opportunity Assessment, By Technology, 2020 & 2030F |
12.6 Africa Augmented Reality in Retail Market Opportunity Assessment, By Retail Type, 2020 & 2030F |
13 Africa Augmented Reality in Retail Market - Competitive Landscape |
13.1 Africa Augmented Reality in Retail Market Revenue Share, By Companies, 2023 |
13.2 Africa Augmented Reality in Retail Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |