Augmented Reality in Retail Industry - Regional Synopsis
On the basis of geographical analysis, the augmented reality in retail market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Europe industry is predicted to dominate majority revenue share by 2037, driven by availability of advanced technology in developed countries, such as, Germany, Sweden, United Kingdom, and others.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high adoption of advanced technology, and growing private investment in technological research. Furthermore, the high R&D expenditure in the United States, is also estimated to boost the augmented reality in retail market growth. According to the data by the Organization for Economic Co-operation and Development (OECD), the gross domestic expenditure on R&D or GERD of United States accounted for around 3.07% of the national GDP in 2019.
