Market Insights Advertising & Media AR & VR

AR Advertising - Baltics

Baltics

The AR Advertising market in the Baltics is expected to experience significant growth in the coming years.
It is projected that the revenue in this market will reach US$7.7m by 2024.
Furthermore, it is anticipated that the market will show an annual growth rate (CAGR 2024-2029) of 9.27%, resulting in a projected market volume of US$11.9m by 2029.
In 2024, in the United States is expected to generate the highest revenue in the AR Advertising market, with a projected market volume of US$1,224.0m.
This indicates the dominance of the United States in this market segment.
AR advertising is gaining traction in the Baltics, with companies leveraging the region's tech-savvy population to create immersive and interactive advertising experiences.

Market

Region

Region comparison

Currency

Analyst Opinion

The AR Advertising market in Baltics is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Baltics are shifting towards more immersive and interactive advertising experiences.

Consumers are increasingly seeking unique and engaging content that stands out from traditional advertising methods. Augmented reality (AR) advertising offers the opportunity for brands to create interactive and personalized experiences that capture the attention of their target audience. This customer preference for immersive and interactive content is driving the demand for AR advertising in the Baltics.

Trends in the market indicate a growing adoption of AR technology by businesses in the Baltics. Companies are recognizing the potential of AR advertising to enhance brand awareness, engagement, and sales. They are investing in AR technology to create innovative and memorable advertising campaigns.

This trend is further fueled by advancements in AR technology, making it more accessible and cost-effective for businesses in the Baltics to incorporate AR into their advertising strategies. Local special circumstances in the Baltics also contribute to the development of the AR Advertising market. The Baltics have a high smartphone penetration rate, with a large portion of the population owning smartphones.

This widespread use of smartphones provides a platform for AR advertising to reach a wide audience. Additionally, the tech-savvy nature of the Baltics population makes them more receptive to new technologies and advertising formats, such as AR. Underlying macroeconomic factors also play a role in the growth of the AR Advertising market in the Baltics.

The Baltics have experienced steady economic growth in recent years, resulting in increased consumer spending power. This economic growth creates opportunities for businesses to invest in innovative advertising strategies, such as AR, to differentiate themselves in a competitive market. In conclusion, the AR Advertising market in the Baltics is developing rapidly due to customer preferences for immersive and interactive content, market trends towards AR adoption, local special circumstances such as high smartphone penetration and tech-savvy population, and underlying macroeconomic factors such as economic growth.

These factors create a favorable environment for the growth and development of AR advertising in the Baltics.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR advertising revenue, which includes pop-up advertising displayed in social media apps, gaming apps, and eCommerce apps as well as advertising that is integrated into the virtual world.

Modeling approach / market size:

The market size is determined through a top-down approach. We use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as consumer spending, internet penetration, 4G coverage, and historical developments.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are level of digitalization, adoption of technology, GDP per capita, and internet penetration.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).