Market Insights Advertising & Media AR & VR

AR Software - CIS

The AR Software market in the CIS region is anticipated to witness significant growth in the coming years.
The projected revenue for this market is estimated to reach US$192.3m by the year 2024.
Moreover, it is expected to exhibit an impressive annual growth rate of 6.86% during the period 2024-2029.
As a result, the market volume is projected to reach US$268.0m by 2029.
The United States stands as the leading contributor to the AR Software market, generating the majority of the revenue.
In 2024, the projected market volume for the United States alone is US$3,945.0m.
In terms of user base, the number of AR Software market users is expected to increase to 63.5m users by 2029.
The user penetration rate, which currently stands at 43.1% in 2024, is projected to reach 44.8% by 2029.
The average revenue per user (ARPU) is expected to amount to US$3.1 in this market segment.
With the rising demand for augmented reality in entertainment and gaming, the CIS market is witnessing a surge in AR software development and adoption.

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Analyst Opinion

The AR Software market in CIS is experiencing significant growth and development due to several factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the expansion of the AR Software market in CIS.

Customer preferences: Customers in CIS are increasingly showing a preference for AR Software solutions due to their ability to enhance user experiences and improve operational efficiency. AR Software offers a unique way to interact with digital content in the real world, allowing users to visualize and manipulate virtual objects in their physical environment. This immersive experience is particularly appealing to customers in CIS who value innovative and cutting-edge technologies.

Trends in the market: One of the key trends in the AR Software market in CIS is the increasing adoption of AR in various industries. Businesses in sectors such as retail, healthcare, manufacturing, and education are leveraging AR Software to enhance their operations. For example, retailers are using AR to provide virtual try-on experiences for customers, while healthcare providers are utilizing AR for surgical planning and training. This growing demand for AR Software across different industries is driving the market forward in CIS.

Local special circumstances: CIS is a region with a rich cultural heritage and a diverse population. This diversity presents unique opportunities for AR Software developers to create localized and culturally relevant applications. For example, AR Software can be used to provide virtual tours of historical sites or to showcase traditional arts and crafts. By catering to the specific interests and preferences of the local population, AR Software developers can gain a competitive edge in the market.

Underlying macroeconomic factors: The economic growth and development in CIS are contributing to the expansion of the AR Software market. As the economy grows, businesses have more resources to invest in innovative technologies like AR Software. Additionally, the increasing penetration of smartphones and other mobile devices in CIS is creating a favorable environment for the adoption of AR Software. With more people accessing AR applications through their mobile devices, the market for AR Software is poised for further growth in CIS. In conclusion, the AR Software market in CIS is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing adoption of AR Software across different industries, the unique opportunities presented by the local market, and the economic growth in CIS are all contributing to the expansion of the AR Software market in the region.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR software revenue, which includes revenues related to in-app purchases as well as revenues from the purchase of social media, gaming, and eCommerce apps.

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).