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Home>Augmented Reality for Advertising Market - Segmentation Analysis and Forecasts by Technavio

Augmented Reality for Advertising Market - Segmentation Analysis and Forecasts by Technavio

Augmented Reality for Advertising Market - Segmentation Analysis and Forecasts by Technavio

10/05/2017

Augmented Reality for Advertising Market - Segmentation Analysis and Forecasts by Technavio

According to the latest market study released by Technavio , the global augmented reality for advertising market is expected to grow at a CAGR of almost 31% during the predicted period.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171004006238/en/

Technavio has published a new report on the global augmented reality for advertising market from 201 ...

Technavio has published a new report on the global augmented reality for advertising market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Augmented Reality for Advertising Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global AR for advertising market is witnessing significant growth. This is mainly because of the growing AR market and advertising market. The global AR market is estimated to grow at a CAGR of 65% (approximately) in the coming years, whereas the global advertising market is expected to grow at a CAGR of around 5%. The increasing popularity of AR and advertising is driving the use of the AR technology in the advertising market. Several industries are using AR in their advertisements to increase the sales of their products and services.

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Technavio’s analysts categorize the global augmented reality for advertising market into four major segments by industry. They are:

  • Media & entertainment
  • Automobile
  • Retail
  • Others

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The top three industry segments of the global augmented reality for advertising market are discussed below:

Global AR for advertising market by retail industry

Currently, the innovation trends are significantly influencing the marketing strategies. Mobile devices have become a vital element of a sales process. Hence, AR emerged as an innovative tool that helps brands in interacting with consumers using a PC (at home), mobile devices, or the kiosks in stores. Retailers relied on the traditional sales and advertising methods, such as print advertising campaigns, for the promotion of their products.

According to Ujjwal Doshi, a lead publishing and advertising research analyst from Technavio, “AR helps retailers in improving the conversion rates and optimizing the warehouse space. It also enhances brand recognition. It is estimated that by 2020, 100 million consumers will use AR for shopping. It is also expected that 20% of the global brands will use AR for shopping by the end of 2017.”

Global AR for advertising market by automobile industry

Large suppliers like the automobile manufacturers are implementing AR as a part of their advertising strategy. To get the potential consumers interested in a product, the marketing personnel in the automobile industry are continuously trying new methods of advertising to reach the target audience effectively. The automobile industry has begun using AR, which is the combination of virtual and real environments, for marketing its products.

“The AR app allows users to visualize a life-sized version of the car in their driveways or even on the street. Meanwhile, BMW, along with Google and Microsoft, is set to launch a pair of AR glasses that will allow the drivers to see through the car to aid parking. The production of AR glasses is expected to start by the end of 2017,” says Ujjwal.

Global AR for advertising market by media & entertainment industry

The way media is consumed has been changed in the recent years because of the advances in AR. The popularity of AR experiences is encouraging people to incorporate the AR technology in their everyday lives. Users are making a switch from the traditional media to the Internet. Therefore, it has become highly imperative for the advertisers and marketers to adopt advanced marketing strategies.

AR product and game companies also develop and market their own exclusive AR products such as books and games. Some companies, such as Sphero, Popar, Sony, Nintendo, and Microsoft, use mobile AR to advertise their games. Therefore, with people becoming aware of the AR technology and its creative ways of offering immersive experiences, the demand for the AR technology is expected to increase in the media & entertainment industry during the forecast period.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Augmented Pixels
  • Aurasma
  • Blippar
  • Catchoom
  • Wikitude

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
www.technavio.com

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