Global Augmented Reality for Advertising Market Overview:
Augmented Reality (AR) offers commercial value that goes far beyond the gadgets and game applications that originally made it popular. This fact is gaining recognition in many sectors, including B2B and B2C trading, where experiments with developing mobile AR apps for marketing and advertising are getting a lot of attention. According to study for 2019, global AR / VR spending should reach USD 160 billion by 2023, with a five-year CAGR of over 78%. When an emerging technology starts, it usually doesn't take long for commercial and industrial beneficiaries to start planning implementation, and AR is no exception. Augmented reality advertising is immersive, which means that it helps marketers create a certain emotional connection with customers. Unlike the images and banners, the AR advertisements are very interactive as well as lifelike wherein the consumers can easily see them and also interact with them. Nowadays, consumers are so used to a large amount of advertising information that they mostly do not react to it. The strategy of pushing a person to buy is fading. In contrast to conventional display ads, native advertising works excellently and arouses a natural interest in the product. Augmented Reality (AR) is considered to be an ideal tool for the purpose of implementing all the viral advertising campaigns. Through interactivity and personalization, AR creates an emotional connection between the user and the brand.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Number of Startups and Increased Popularity and Penetration of the AR Technology in Smartphones and Tablets
Market Growth Drivers:
Increasing Adoption of the Mobile AR Platform, Enhances the Advertising Experience for Consumers and Increasing Focus on Integrating Advanced Technologies
Challenges:
Challenges of Integration
Restraints:
Complicated Virtual Multi-Camera Environment and Quality of the Graphics and Backgrounds
Opportunities:
Growing Consumer and Commercial Markets with Increasing Investments, Rising Technological Innovations Related To High-End Products with Enhanced Features Are Expected To Offer Abundant Opportunities and The Rising R&D Activities in Augmented Reality in Advertising Are Expected To Gain Momentum
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Augmented Pixels (United States), Wikitude (United States), Blippar (United Kingdom), Aurasma (United Kingdom), Catchoom (Spain), BBDO (United States), McCANN (United States), PTC (United States), Google (United States), Metaio (Germany), NGRAIN Corporation (Canada) and Leo Burnett (Caracas). Additionally, following companies can also be profiled that are part of our coverage like Total Immersion (France) and Zappar Limited (United Kingdom). Analyst at AMA Research see United States Vendors to retain maximum share of Global Augmented Reality for Advertising market by 2028. Considering Market by Organization Size, the sub-segment i.e. SMEs will boost the Augmented Reality for Advertising market. Considering Market by Technology, the sub-segment i.e. Monitor-Based Technology will boost the Augmented Reality for Advertising market. Considering Market by Device Used, the sub-segment i.e. Sensor will boost the Augmented Reality for Advertising market.
Latest Market Insights:
In September 2021, global semiconductor company Qualcomm Technologies, Inc. acquired augmented reality (AR) software development kit (SDK) provider Wikitude for an undisclosed amount. Qualcomm is one of the world's largest semiconductor suppliers and offers a range of chipset solutions for the extended reality (XR) market: the Snapdragon XR1 and XR2 5G platforms are built with augmented and virtual reality applications in mind.
What Can be Explored with the Augmented Reality for Advertising Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Augmented Reality for Advertising Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Augmented Reality for Advertising
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Augmented Reality for Advertising market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Augmented Reality for Advertising market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Augmented Reality for Advertising, End-Users, Potential Investors, Market Research Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.