AbstractSince the launch of Pokémon Go, augmented reality (AR) has been one of the main research areas within new technologies. Integrating digital elements into the physical world presents exceptional opportunities for different sectors, enabling enhanced interactions and experiences. This study conducts a systematic review of AR literature, highlighting the main theories, theoretical frameworks, and research methodologies employed. It also classifies the main types of AR devices and the diverse contexts in which they are applied. Through a comprehensive thematic analysis, four principal areas of current research are identified: (1) media characteristics and consumer outcomes, (2) psychological influential factors and outcomes, (3) AR app features and technology adoption, and (4) recommendations for implementation in the industry and advantages. Furthermore, the study provides key insights and introduces the consumer‐centered AR framework. The article concludes by proposing a future research agenda, highlighting prospective studies that can contribute from the perspective of the content, context, device, and consumer, as well as avenues for future research from a methodological perspective.