Market Insights Advertising & Media AR & VR

AR Advertising - Morocco

Morocco

The AR Advertising market in Morocco is anticipated to witness a significant surge in revenue, projected to reach US$7.2m by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 9.28%, leading to a projected market volume of US$11.3m by 2029.
It is worth noting that in the United States is the primary contributor to the market, generating the highest revenue with a projected market volume of US$1,224.0m in 2024.
AR Advertising is gaining traction in Morocco, with businesses leveraging the country's rich cultural heritage to create immersive and engaging experiences for consumers.

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Analyst Opinion

The AR Advertising market in Morocco is experiencing significant growth and development.

Customer preferences: Customers in Morocco are increasingly drawn to AR advertising due to its interactive and immersive nature. AR technology allows for a more engaging and personalized advertising experience, which resonates well with consumers. Additionally, AR advertising provides a unique way for brands to showcase their products and services, allowing customers to visualize and experience them in a virtual environment.

Trends in the market: One major trend in the AR Advertising market in Morocco is the integration of AR technology into mobile applications. With the widespread use of smartphones in the country, brands are leveraging AR capabilities to enhance their mobile apps and provide users with a more interactive and entertaining experience. This trend is driven by the growing demand for mobile-based AR experiences and the increasing availability of AR development tools and platforms. Another trend in the market is the adoption of AR advertising by various industries. While the retail and e-commerce sectors have been early adopters of AR advertising, other industries such as real estate, tourism, and automotive are also embracing this technology. For example, real estate companies are using AR to showcase virtual property tours, while tourism agencies are using AR to provide virtual travel experiences. This diversification of industries using AR advertising is contributing to the overall growth of the market in Morocco.

Local special circumstances: Morocco's growing tourism industry presents a unique opportunity for AR advertising. The country attracts millions of tourists each year, and AR technology can be utilized to enhance their travel experiences. For example, AR apps can provide tourists with interactive guides, historical information, and virtual tours of popular attractions. This integration of AR into the tourism sector not only enhances the visitor experience but also promotes Morocco as a technologically advanced and innovative destination.

Underlying macroeconomic factors: Morocco's stable economic growth and increasing disposable income are driving the demand for AR advertising. As the economy continues to expand, consumers have more purchasing power, leading to increased spending on products and services. This provides brands with the opportunity to invest in innovative advertising strategies, such as AR, to capture the attention and interest of consumers. Furthermore, Morocco's strategic location as a gateway to Africa and its growing digital infrastructure make it an attractive market for AR advertising. The country has seen significant advancements in its telecommunications sector, with the expansion of 4G networks and the ongoing development of 5G technology. These infrastructure improvements enable faster and more reliable internet connections, which are essential for delivering AR content seamlessly. In conclusion, the AR Advertising market in Morocco is experiencing growth and development due to customer preferences for interactive and immersive advertising experiences. The integration of AR technology into mobile applications and the adoption of AR advertising by various industries are key trends driving this market. Morocco's growing tourism industry and favorable macroeconomic factors also contribute to the development of the AR Advertising market in the country.

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).