Wipro has partnered with mirrAR.com, an Indian augmented reality startup that offers immersive try-before-buy solution for luxury retailers. 

Through this partnership, Wipro has built a wayfinding technology to engage customers seamlessly through aisles in large indoor spaces and back home. The company said that the solution addresses a range of customer needs – right from curating personalized routes and creating shopping lists to the ease of tracking items.

The indoor location market is projected to reach an impressive USD 20.35 billion by 2029, showcasing the increasing demand for advanced indoor navigation solutions, the company stated. Similarly, the location-based services market is expected to surge to USD 29 billion by 2028, underlining the industry’s rapid growth and potential.

Wipro solution promises to help spaces capture valuable customer in-store traffic data to understand behaviors and preferences, enabling seamless navigation. The indoor wayfinding solution essentially provides precise and up-to-the-minute directions within large indoor spaces.

“Embracing innovation has always been at the core of our vision, and our partnership with Wipro for their wayfinding solution exemplifies our commitment to revolutionizing the retail experience,” said Meghna Saraogi, Founder & CEO at mirrAR.com.

“By leveraging our AR and AI capabilities, we aim to redefine how customers navigate and engage within large indoor spaces, with Wipro. This collaboration underscores our dedication to creating cutting-edge solutions that seamlessly blend technology with real-world applications, ultimately enhancing the way people experience and interact with their surroundings.”

“Navigating the physical world becomes more intuitive with AR-driven wayfinding applications. Users can receive real-time, context-aware information overlaid onto their physical surroundings. Whether exploring virtual cities or navigating augmented maps, AR enhances spatial awareness and simplifies navigation within the immersive world.” added Sudhakar Yadav, Spatial Solution Architect at Wipro.

Sudha Subarayan, Enterprise Mobility Architect, Wipro said that Wipro plans to give customers an interactive and immersive shopping experience or products such as clothing, accessories before making a purchase. By bridging the gap between online and offline retail, it reduces uncertainty in buying decisions, leading to increased customer confidence and satisfaction. This not only contributes to higher conversion rates and reduced return rates but also positions brands as innovative and customer centric, she added. 

The wayfinding solution comes with the capability to also integrate with location-based services such as ordering food and event booking in addition to the virtual product try-ons. The company is aiming at grabbing the opportunities that are emerging in Airports, Shopping Malls, hospitals and Offices. 

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According to Technavio, the global metaverse market size is estimated to grow by USD 1,152.35 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 40.06% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 39% of the market’s growth during the forecast period.  In 2017, the metaverse market was valued at USD 92.48 billion. 

The VR or AR devices segment will account for a significant part of the growth during the forecast period. These devices include headsets, smart glasses, and lenses used for interacting on the metaverse platform. The growth of this segment is attributed to factors such as new product launches and the growing adoption of VR and AR in different application areas.

• The growing smartphone penetration and use of 5G are driving the market growth.
• 5G is becoming popular with the high adoption of smart devices such as smartphones.
• Thus, the use of different apps and online platforms for online shopping is expected to increase.
• Businesses such as e-commerce and finance businesses are expected to adopt advanced technologies such as metaverse to enhance the virtual experience.
• Therefore, the growing smartphone penetration and use of 5G are fueling the growth of the global market during the forecast period.

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