The augmented reality in retail market is expected to be USD 1,155.8 million in 2018 and is projected to reach USD 7,951.2 million by 2023, at a CAGR of 47.1% during the forecast period. 

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Increasing online shopping encourages retailers to adopt AR, rising smartphone penetration, and growing adoption of connected devices are the major factors driving the growth of the augmented reality in retail market. Conventional strategies of advertising and marketing, as well as transactional sales, have been greatly revolutionized with the addition of innovative technological advancements; together these progressions have uplifted the retail industry. 

The fierce competition in the retail industry has encouraged retailers to adopt advanced technologies in their space. Consumer engagement through online and offline modes is the most effective strategy adopted to sustain and grow in the retail industry.

Major companies that are part of the value chain include Google (US), PTC (US), Apple (US), Microsoft (US), Wikitude (Austria), DAQRI (US), Zugara (US), Blippar (UK), Marxent Labs (US), Augment (France), ViewAR (Austria), Holition (UK), Ikea (Netherlands), Sephora (France), Amazon (US), Imaginate Technologies (India), Kudan (UK), Total Immersion (France), INDE (UK), Holition (UK), Ikea (Netherlands), Sephora (France), Amazon (US), Imaginate Technologies (India), Kudan (UK), Total Immersion (France), and INDE (UK).