AR Advertising - Portugal

Portugal

Highlights

In Portugal, revenue in the AR Advertising market market is projected to reach US$18.2m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.26%, resulting in a projected market volume of US$28.3m by 2029.
Although most revenue is generated the United States, the projected market volume for Portugal is US$1.2bn in 2024.
Portugal is increasingly embracing AR advertising, as brands leverage immersive experiences to enhance consumer engagement in the country's evolving digital landscape.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The AR Advertising market in Portugal is experiencing steady growth due to increasing customer preferences for immersive and interactive advertising experiences. With the advancements in technology and the widespread adoption of smartphones, customers are increasingly seeking out engaging and personalized advertising content.

Customer preferences: Customers in Portugal are showing a strong preference for AR advertising due to its ability to provide a unique and interactive experience. AR advertising allows customers to engage with brands in a more immersive way, enabling them to visualize products in their own environment and make more informed purchasing decisions. This personalized and interactive approach to advertising is resonating well with customers, leading to increased engagement and brand loyalty.

Trends in the market: One of the key trends in the AR Advertising market in Portugal is the integration of AR technology into social media platforms. Social media platforms are increasingly incorporating AR features, allowing users to try on virtual products, apply filters to their photos, and even play AR games. This integration is driving the adoption of AR advertising, as brands are leveraging these platforms to reach a wider audience and provide an interactive experience. Another trend in the market is the use of AR in the retail sector. Retailers in Portugal are using AR technology to enhance the shopping experience for customers. By using AR, retailers can provide virtual fitting rooms, where customers can try on clothes virtually and see how they look on themselves before making a purchase. This not only makes the shopping experience more convenient but also reduces the likelihood of returns, leading to increased customer satisfaction.

Local special circumstances: Portugal has a strong tourism industry, and AR advertising is being used to enhance the tourist experience. For example, AR apps are being developed to provide virtual tours of historical sites, allowing tourists to explore the past in a more interactive and engaging way. This not only attracts tourists but also promotes the cultural heritage of Portugal.

Underlying macroeconomic factors: The growing AR Advertising market in Portugal can be attributed to several underlying macroeconomic factors. Firstly, the increasing smartphone penetration rate in the country has made AR advertising more accessible to a larger audience. Additionally, the rising disposable income of consumers in Portugal has led to an increased demand for innovative and immersive advertising experiences. In conclusion, the AR Advertising market in Portugal is witnessing growth due to customer preferences for immersive and interactive advertising experiences. The integration of AR technology into social media platforms and the use of AR in the retail and tourism sectors are driving this growth. With the increasing smartphone penetration rate and rising disposable income, the AR Advertising market in Portugal is expected to continue its upward trajectory.

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).