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Augmented Reality To Change the Future of Packaging Using IoT

Augmented reality is a technology that connects reality to the virtual world. It is gradually becoming an important technology. In order to replace the traditional process of purchasing and to increase customer engagement, major packaging manufacturers have started employing augmented reality packaging. Augmented reality packaging also aids in reducing the sales cycle. Tech-savvy customers are exhibiting increased interest in this technology.

Augmented reality is creating an impactful mark on the consumer packaged goods (CPG) industry and essentially helping manufacturers bring more products to retailers and expand to new markets continually and impressively. While several packaging manufacturers are still getting acquainted with augmented reality packaging; major players such as Coco Cola, Kraft, L’Oréal, and Simmons have already adopted this technology for demonstration, promotion, and product differentiation.

Major growth drivers for the augmented reality packaging market include the increase in demand for smart and digital packaging and rise in demand for FMCG products. Moreover, forthcoming technological advancements, industrial development, and innovative techniques developed for the use of augmented reality packaging would be key factors responsible for growth of the market. The augmented reality packaging market has been witnessing high growth over the last few years, owing to high demand from end-user industries based in the U.S., Germany, France, China, and Japan. However, factors such as low awareness among consumers and restricted size of storage devices may hamper the market in the near future.

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Based on technology, the augmented reality packaging market has been segmented into head-mounted displays, applications (apps), and others. The market is dominated by the apps segment, as apps give handy experience to customers and are relatively less expensive. However, the head-mounted displays segment is projected to expand at a high rate during the forecast period, owing to changing lifestyle and increase in consumer spending on digital technology.

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