London, UK -- (SBWIRE) -- 10/17/2022 -- The latest market publication titled Augmented Reality (AR) in Foodservice – Thematic Research has been added to GlobalData Plc report store. The report identifies the foodservice sector deploying AR as a utility and entertainment tool to be one of the most crucial factors driving the market. AR technology will be most valuable to foodservice companies in its capacity to drive consumer purchases and improve operational efficiency.
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Foodservice companies are investing in technologies such as AR to raise their company profile and stay in tune with relevant trends, such as social media, environmental, social, and governance (ESG), and the metaverse. AR devices can also be used for independent training, inventory management, and improving health and safety standards in food preparation. Foodservice companies deploying these solutions will see greater operational efficiency and improved profit margins.
However, while the cost of AR headsets and smart glasses remains high, the investment will be primarily driven by large quick-service restaurants (QSRs) and foodservice suppliers that have both the financial capabilities and the demand necessary for success.
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Augmented Reality in Foodservice Sector Highlights
- The deployment of AR by the foodservice companies aids in resolving various challenges including COVID-19, ESG, economic uncertainty, digital lifestyles, and transformation in the future of work.
- The global AR market size was valued at USD 7 billion in 2020 and the market is anticipated to garner a CAGR of over 35% during 2020-2030.
- The value chains of the AR market can be divided into five segments: semiconductors, components, devices, platforms, and apps & content.
- Partnerships with gaming companies running AR platforms with characters in virtual worlds can increase brand awareness.
- Companies are engaging in partnerships and strengthening their product portfolios to stay relevant in the stiff competitive environment. For instance, Wendy's is piloting AR smart glasses for remote collaboration and operations. According to Wendy's quality assurance VP, the devices have since been deployed in the restaurant training department. Wendy's pilot program is ongoing.
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- Similarly, QReal created AR content for Panera Bread's social media campaign. QReal created the AR content with its proprietary photogrammetry technology. The 3D coordinate measuring technique uses multiple photographs as the medium for measurement.
- Even Starbucks brought AR in-store to educate consumers. American coffeehouse chain Starbucks opened a new outlet in Shanghai, China, in December 2017, offering AR experiences for consumers by blending online and offline in-person store experiences to boost omnichannel retail sales.
- Following the success in Shanghai, in December 2018, Starbucks opened its New York City Roastery. It brought the AR experience along, educating consumers on the coffee's cultivation, roasting, and serving processes.
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AR market Vendors in Foodservice Industry
The specialist AR market vendors in the foodservice industry are:
- Diner: Diner creates AR menus for foodservice companies. Consumers can either scan a QR code and, through Diner's WebAR technology, view the menu online, or in any location, access the menu through Diner's proprietary application.
- HoloLamp: HoloLamp offers a hands-free, glasses-free AR device with accompanying 3D scanning technology.
- Neosentec: Onirix, a product of Neosentec, is an AR platform that helps companies create and deploy Spatial AR and WebAR content through its Onirix Studio
- NSF International: NSF EyeSucceed AR software is supported by Google's Glass Enterprise Edition 2 smart glasses and runs on Google Cloud's infrastructure. The fast-food restaurant chain Wendy's is a long-term customer.
- peAR Technologies: peAR Technologies' product is an AR-driven food and beverage app built with a proprietary AR engine and 3D software. In November 2021, the vendor recorded over 500 restaurants using its platform.
- Poplar Studio: Poplar Studio provides services in both AR commerce and marketing. Poplar Studio has previously enabled AR menus using WebAR and QR codes. Foodservice clients include Wahaca.
- The Glimpse Group: Acquired by The Glimpse Group in 2016, QReal (formerly Kabaq.io) is a creative agency for AR content. It creates, manages, and distributes AR content for clients.
- The Village Co: Grub Lab is an AR entertainment solution for operators in the foodservice industry. Designed for kids in cafés, pubs, and restaurants, the vendor sells activity packs with AR experiences.
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