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AR Hardware - Portugal

Portugal

In Portugal, revenue in the AR Hardware market market is projected to reach US$9.0m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 13.38%, resulting in a projected market volume of US$16.8m by 2029.
While most revenue is generated the United States, the AR Hardware market market in Portugal will also see growth.
In Portugal, the number of users in the AR Hardware market market is expected to amount to 204.3k users by 2029.
User penetration in Portugal will be 0.7% in 2024 and is expected to increase to 2.0% by 2029.
The average revenue per user (ARPU) in Portugal is expected to amount to US$135.1.
Portugal is witnessing a surge in AR hardware investments, driven by innovative startups and a growing interest in immersive technology across various sectors.

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Analyst Opinion

The AR Hardware market in Portugal is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Portugal are increasingly seeking out AR Hardware products due to their ability to enhance the user experience and provide a more immersive and interactive environment. The demand for AR Hardware is driven by a desire for innovative and cutting-edge technology that can be used in various industries, such as gaming, entertainment, education, and healthcare. Additionally, customers are attracted to AR Hardware devices that offer ease of use, portability, and affordability.

Trends in the market: One of the key trends in the AR Hardware market in Portugal is the increasing adoption of AR glasses. These glasses provide users with a hands-free AR experience, allowing them to interact with virtual objects and information seamlessly. The demand for AR glasses is driven by their versatility and potential applications in various industries, such as retail, manufacturing, and logistics. Additionally, there is a growing trend of AR Hardware being integrated into smartphones and other wearable devices, making AR more accessible to a wider audience. Another trend in the market is the development of AR Hardware specifically designed for enterprise and industrial use. Companies in Portugal are recognizing the potential of AR technology to improve productivity, efficiency, and safety in the workplace. AR Hardware devices, such as smart helmets and goggles, are being used in industries such as construction, manufacturing, and logistics to provide workers with real-time information, instructions, and training materials. This trend is driven by the need for companies to stay competitive and adapt to the digital transformation of industries.

Local special circumstances: Portugal has a growing tech ecosystem and a supportive environment for startups and innovation. This has led to the emergence of several local companies and startups that are developing AR Hardware solutions. These companies benefit from access to funding, resources, and talent, which enables them to develop and commercialize their products. Additionally, Portugal's strategic location within Europe allows companies in the country to easily access and collaborate with other European markets, further boosting the growth of the AR Hardware market.

Underlying macroeconomic factors: The growth of the AR Hardware market in Portugal is also influenced by underlying macroeconomic factors. The country's stable economy and increasing disposable income levels have resulted in a higher consumer spending on technology products. Additionally, the government's focus on digitalization and innovation has created a conducive environment for the adoption and development of AR Hardware. Furthermore, Portugal's strong tourism industry has also contributed to the growth of the AR Hardware market, as tourists are increasingly seeking out immersive and interactive experiences. Overall, the AR Hardware market in Portugal is experiencing significant growth and development due to customer preferences for innovative technology, the adoption of AR glasses, the development of enterprise-focused AR Hardware, the supportive local ecosystem, and favorable macroeconomic factors. These factors are driving the demand for AR Hardware products and creating opportunities for companies in the market to thrive.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR hardware revenue, which includes digital spending on hardware (headsets and glasses) that enables consumers to experience augmented reality.

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).