The AR Advertising market in BRICS is experiencing significant growth and development due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in the BRICS countries are increasingly embracing augmented reality (AR) technology in their daily lives. They are attracted to the immersive and interactive nature of AR advertising, which allows them to engage with brands in a more personalized and engaging way. Additionally, customers appreciate the convenience of AR advertising, as it can be accessed through their smartphones or other devices, eliminating the need for physical advertisements. This preference for AR advertising is driving the demand for innovative and creative AR campaigns in the BRICS countries.
Trends in the market: One major trend in the AR Advertising market in BRICS is the integration of AR technology with social media platforms. Social media platforms such as Facebook and Instagram are incorporating AR features that allow users to try on virtual products or experience virtual environments. This trend is particularly popular among younger consumers who are active on social media and enjoy sharing their AR experiences with their peers. Brands are leveraging this trend by creating AR advertising campaigns that are specifically tailored for social media platforms, increasing their reach and engagement with customers. Another trend in the AR Advertising market in BRICS is the adoption of AR technology in the retail sector. Retailers are using AR to enhance the shopping experience by allowing customers to virtually try on clothes, visualize furniture in their homes, or test out cosmetics before making a purchase. This trend is driven by the desire to provide customers with a more immersive and interactive shopping experience, as well as to reduce the need for physical try-ons or samples. As a result, AR advertising in the retail sector is experiencing significant growth in the BRICS countries.
Local special circumstances: The BRICS countries have large and growing populations, which provide a significant market for AR advertising. The increasing penetration of smartphones and internet access in these countries further fuels the demand for AR advertising. Additionally, the BRICS countries have a strong presence of tech-savvy consumers who are early adopters of new technologies, making them more receptive to AR advertising campaigns. This favorable consumer base creates a conducive environment for the growth of the AR Advertising market in BRICS.
Underlying macroeconomic factors: The economic growth and rising disposable incomes in the BRICS countries are contributing to the development of the AR Advertising market. As consumers have more purchasing power, they are increasingly willing to spend on products and services promoted through AR advertising. Additionally, the BRICS countries are witnessing a shift towards a digital economy, with increased investments in technology infrastructure and digital platforms. This digital transformation creates opportunities for AR advertising to thrive and reach a larger audience. In conclusion, the AR Advertising market in BRICS is experiencing growth and development due to customer preferences for immersive and interactive advertising, market trends such as the integration of AR with social media and the adoption of AR in the retail sector, local special circumstances such as large and tech-savvy consumer base, and underlying macroeconomic factors including economic growth and digital transformation. This combination of factors creates a favorable environment for the expansion of the AR Advertising market in the BRICS countries.
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).
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