Augmented Reality in Supply Chain

Augmented Reality in Supply Chain Market by Application Areas (Asset Tracking, Customer Experience Optimization, Inventory Management), Technology Components (Hardware Components, Software Platforms), End Users, Deployment Platforms, Enterprise Size, Process Implementation Stages, User Experience Features, Integration Types - Global Forecast 2025-2030

SKU
MRR-E52A78A98135
Region
Global
Publication Date
December 2024
Delivery
Immediate
2023
USD 2.21 billion
2024
USD 2.70 billion
2030
USD 9.42 billion
CAGR
22.97%
360iResearch Analyst Ketan Rohom
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The Augmented Reality in Supply Chain Market size was estimated at USD 2.21 billion in 2023 and expected to reach USD 2.70 billion in 2024, at a CAGR 22.97% to reach USD 9.42 billion by 2030.

Augmented Reality in Supply Chain Market
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Augmented Reality (AR) is redefining supply chains by enhancing visibility, precision, and efficiency. By overlaying digital information onto the physical world, AR aids in streamlining workflows, facilitating real-time decision-making, and improving resource allocation. The necessity for AR in supply chains stems from the growing complexities in logistics and inventory management, the demand for faster delivery times, and the need for minimizing errors and costs. Applications range from warehouse operations to transportation management, where AR technologies assist workers in picking and sorting tasks through visual guidance and real-time updates. End-use sectors such as retail, automotive, and healthcare are increasingly adopting AR solutions to enhance operational efficiencies and customer satisfaction.

Market growth is propelled by factors like technological advancements, rising consumer expectations for transparency and speed, and increased investment in smart technology infrastructure. However, challenges such as high implementation costs, the need for specialized training, data privacy concerns, and integration issues with existing systems can impede widespread adoption. Potential opportunities lie in harnessing AR for predictive maintenance, enhancing last-mile delivery through more efficient route planning, and improving collaborative workspaces for remote management.

Innovations could focus on developing cost-effective, scalable AR solutions with robust security features and user-friendly interfaces. Partnerships between technology providers and supply chain specialists could expedite the customization of AR tools fit for industry-specific needs. By prioritizing research into AI-driven AR applications, businesses can anticipate and adapt to demand fluctuations, achieving better agility. The market is increasingly competitive, with numerous startups offering niche solutions while established tech giants expand their offerings. Therefore, businesses must remain agile, continuously adapting to the evolving technological landscape. Aligning AR innovations with sustainability goals, such as reducing waste and emissions in logistics, will also offer businesses a dual advantage of operational efficiency and environmental responsibility.

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Market Dynamics

The market dynamics represent an ever-changing landscape of the Augmented Reality in Supply Chain Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Core elements propelling augmented reality integration in supply chain sectors
    • Major contributors to the widespread growth of AR technology in logistics and supply chains
    • Influential aspects boosting the incorporation of augmented reality in supply chain strategies
  • Market Restraints
    • Highlighting the skills gap and training requirements hampering AR technology adoption in supply chains
    • Evaluating the perceived challenges and bottlenecks in implementing AR in the supply chain industry
    • Analyzing the constraints limiting the integration of augmented reality technologies in supply chains
  • Market Opportunities
    • Implementing AR in warehouse management to optimize storage space and increase productivity
    • AR-driven predictive maintenance for reducing equipment downtime in supply chain operations
    • AR technology offering innovative ways for supply chain companies to enhance security measures
  • Market Challenges
    • Identifying and addressing cyber security risks within augmented reality solutions in supply chain
    • Navigating the limited availability of AR expertise and skilled professionals
    • Ensuring compatibility with various devices and platforms for augmented reality technology

Market Segmentation Analysis

  • Offering: Increasing incorporation of advanced AR hardware into supply chain management

    The AR hardware used across the supply chain includes devices such as smart glasses, head-mounted displays, and handheld devices that enable workers in the supply chain to access AR applications and improve operational efficiency. These devices have sensors and cameras that collect data and deliver real-time insights into supply chain operations. The software segment of AR in the supply chain market includes AR applications and platforms that enable industries to develop, deploy, and manage AR technology. Software solutions are leveraged by end users across their supply chain to create AR content, manage AR devices, and analyze data from AR-enabled devices. These software solutions are developed to improve supply chain efficiency and streamline operations. Consulting, implementation, and maintenance services are among the major services employed for AR technology. 3D modeling is essential in creating digital representations of physical objects within the supply chain process. AR navigation systems provide visual cues and directions overlaid onto users' fields of view for increased situational awareness during daily operations within warehouses or distribution centers. Augmented reality visualization software allows businesses to leverage digital twins and predictive analytics within supply chain management. Implementing AR solutions for workflow optimization is essential in streamlining operations, reducing errors, and enhancing productivity within the supply chain space. These services are aimed at helping businesses implement and manage AR technology in their supply chain operations.

  • Application: Growing adoption of augmented reality for warehouse optimization

    In augmented reality (AR) applications, after sales services have become a significant boon to customer satisfaction and brand loyalty. Through AR-assisted support, businesses can streamline troubleshooting processes, minimize downtime, and reduce service costs. AR technology has revolutionized maintenance and repair tasks by providing visual overlays that assist technicians in identifying potential issues while performing complex tasks. This allows for reduced human error rates while cutting down on time spent on maintenance operations. Transport optimization with AR can help improve route planning, reduce fuel consumption, and increase overall operational efficiency in logistics and supply chain management. AR technology offers significant potential for improving warehouse operations by reducing employee errors, enhancing pick-and-pack processes, and optimizing space utilization.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Augmented Reality in Supply Chain Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

PESTLE Analysis

The PESTLE analysis offers a comprehensive tool for understanding and analyzing the external macro-environmental factors that impact businesses within the Augmented Reality in Supply Chain Market. This framework examines Political, Economic, Social, Technological, Legal, and Environmental factors, providing companies with insights into how these elements influence their operations and strategic decisions. By using PESTLE analysis, businesses can identify potential opportunities and threats in the market, adapt to changes in the external environment, and make informed decisions that align with current and future conditions. This analysis helps companies anticipate shifts in regulation, consumer behavior, technology, and economic conditions, allowing them to better navigate risks and capitalize on emerging trends.

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Augmented Reality in Supply Chain Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Augmented Reality in Supply Chain Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Recent Developments

  • Displai Aims to Enable Augmented Reality Packaging

    Displai introduced a program designed to elevate consumer-brand interactions through AR-enabled product packaging. This initiative makes it possible for consumers to bring virtual experiences to life by simply scanning product packaging with their smartphones, granting them access to a wealth of product details and exclusive offerings. By utilizing Displai's cutting-edge AR technology, participants in the program benefit from access to its proprietary software, comprehensive training, and support, along with collaborative marketing opportunities. [Published On: April 12, 2023]

  • Vuzix Receives Volume Follow-on Smart Glasses Order from Acuraflow to Supply Pharmaceutical Customer

    Vuzix Corporation, a forefront supplier of Smart Glasses and Augmented Reality (AR) technologies, has proudly announced the successful receipt and fulfillment of a substantial follow-on order for its innovative smart glasses from Acuraflow. Acuraflow, known for its pioneering efforts in sustainable management solutions, placed this order with a primary focus on serving a client within the pharmaceutical sector. This development underscores Vuzix’s pivotal role in enhancing operational efficiencies through cutting-edge AR solutions across industry verticals. [Published On: April 12, 2023]

  • Iristick Announces EUR 4 Million Capital Increase

    Iristick secured a significant funding boost of EUR 4 million, courtesy of a consortium led by Saffelberg Investments. This strategic financial injection is set to empower Iristick to enrich its focus on delivering comprehensive solutions across crucial sectors, including healthcare, energy, and logistics. The company plans to leverage this new capital to make substantial investments aimed at advancing its technological platform, boosting user engagement, and amplifying its sales and marketing pursuits, with a special focus on expanding its footprint in both Europe and the U.S. markets. [Published On: February 20, 2023]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Augmented Reality in Supply Chain Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Augmented Reality in Supply Chain Market, highlighting leading vendors and their innovative profiles. These include A.P. Moller - Maersk AS, Accenture PLC, Amazon.com, Inc., Apple Inc., AT&T Inc., Blippar Ltd., EON Reality, Inc., Extensiv by 3PL Central LLC, Google LLC by Alphabet Inc., Goolton Technology Co., Ltd., Honeywell International Inc., Inter IKEA Systems B.V., International Business Machines Corporation, LogistiVIEW Inc., Magic Leap, Inc., Mazer by XR Wizards sp. z o.o., Microsoft Corporation, Nsflow Sp. z o. o., PTC Inc., Qualcomm Incorporated, SAP SE, Sony Corporation, TeamViewer US, Inc., TechSee Augmented Vision Ltd., Toshiba Corporation, United Parcel Service of America, Inc., Verizon Communications, Vuzix Corporation, and Zebra Technologies Corporation.

Market Segmentation & Coverage

This research report categorizes the Augmented Reality in Supply Chain Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Application Areas
    • Asset Tracking
    • Customer Experience Optimization
    • Inventory Management
  • Technology Components
    • Hardware Components
      • AR Displays
      • IoT Sensors
      • Wearable Devices
        • Augmented Reality Helmets
        • Smart Glasses
    • Software Platforms
      • AR Content Management
      • Data Integration Solutions
        • API-Based Integrations
        • Middleware Solutions
      • Visualization Software
  • End Users
    • Healthcare Facilities
    • Logistics Providers
      • Freight Forwarders
      • Warehousing Operators
    • Manufacturers
      • Automotive
      • Electronics
        • Consumer Electronics
        • Industrial Electronics
    • Retailers
  • Deployment Platforms
    • Cloud-Based Solutions
    • On-Premises Systems
  • Enterprise Size
    • Large Enterprises
    • Small and Medium Enterprises (SMEs)
  • Process Implementation Stages
    • Analysis and Improvement
    • Execution and Monitoring
    • Planning and Design
  • User Experience Features
    • Interactive Guides
    • Real-Time Feedback Systems
    • User Interface Adaptability
  • Integration Types
    • Integrated Supply Chain Solutions
    • Standalone Systems
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Augmented Reality in Supply Chain Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Augmented Reality in Supply Chain Market, by Application Areas
  7. Augmented Reality in Supply Chain Market, by Technology Components
  8. Augmented Reality in Supply Chain Market, by End Users
  9. Augmented Reality in Supply Chain Market, by Deployment Platforms
  10. Augmented Reality in Supply Chain Market, by Enterprise Size
  11. Augmented Reality in Supply Chain Market, by Process Implementation Stages
  12. Augmented Reality in Supply Chain Market, by User Experience Features
  13. Augmented Reality in Supply Chain Market, by Integration Types
  14. Americas Augmented Reality in Supply Chain Market
  15. Asia-Pacific Augmented Reality in Supply Chain Market
  16. Europe, Middle East & Africa Augmented Reality in Supply Chain Market
  17. Competitive Landscape
Frequently Asked Questions
  1. How big is the Augmented Reality in Supply Chain Market?
    Ans. The Global Augmented Reality in Supply Chain Market size was estimated at USD 2.21 billion in 2023 and expected to reach USD 2.70 billion in 2024.
  2. What is the Augmented Reality in Supply Chain Market growth?
    Ans. The Global Augmented Reality in Supply Chain Market to grow USD 9.42 billion by 2030, at a CAGR of 22.97%
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