AR Software - Colombia | Statista Market Forecast

In Colombia, the revenue in the AR Software market market is projected to reach US$36.3m in 2024.
Revenue in this sector is expected to show an annual growth rate (CAGR 2024-2029) of 8.82%, resulting in a projected market volume of US$55.4m by 2029.
While the majority of revenue in the global AR Software market market is generated the United States, Colombia's market is also poised for growth.
In the AR Software market market in Colombia, the number of users is expected to amount to 22.6m users by 2029.
User penetration in Colombia will be 42.1% in 2024 and is expected to slightly decrease to 42.1% by 2029.
The average revenue per user (ARPU) in Colombia is expected to amount to US$1.6.
Colombia's AR software market is experiencing significant growth as local businesses increasingly adopt immersive technologies for enhanced customer engagement and innovative marketing strategies.

The AR Software market comprises all in-app ad revenues generated from apps that have AR features as well as revenues from app purchases. These apps have to be accessible via iPhones and Android phones and must be distributed via major app stores. The market consists of three markets: Social Media, Gaming, and eCommerce. In social media, augmented reality is used when integrating different face filters and lenses into the relevant apps. In gaming, augmented reality is used to display characters, surfaces, and/or anything else on mobile phones by employing mobile cameras. Similarly, in eCommerce, augmented reality is used to either “try on” different clothes or makeup by making them appear on your mobile phone or to even display different pieces of furniture, placing them somewhere in the surroundings filmed by you. The most popular apps are Snapchat, Instagram, Pokémon Go, and Ikea Place. All revenue data solely refers to B2C transactions.

All apps including augmented reality that are distributed via major app stores and used by consumers for gaming, social media activities, and eCommerce
Apps that run on iPhones and Android phones
Major apps include Snapchat, Instagram, Pokémon Go, and Ikea Place

Augmented reality apps that are not distributed via major app stores or run on devices other than iPhones and Android phones
B2B enterprise software

The AR Software market in Colombia is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Colombia play a crucial role in the development of the AR Software market.

With the increasing popularity of smartphones and tablets, there is a growing demand for AR applications that can be easily accessed and used on these devices. Customers in Colombia are increasingly looking for AR software that provides immersive and interactive experiences, allowing them to visualize and interact with virtual objects in real-world environments. Additionally, there is a preference for AR software that is user-friendly and compatible with different platforms and devices.

Trends in the market also contribute to the growth of the AR Software market in Colombia. One significant trend is the integration of AR technology into various industries and sectors. Companies in Colombia are recognizing the potential of AR software in enhancing customer experiences, improving productivity, and driving innovation.

For example, in the retail sector, AR software is being used to create virtual try-on experiences, allowing customers to visualize products before making a purchase. In the education sector, AR software is being utilized to create interactive and engaging learning experiences for students. These trends are driving the demand for AR software in Colombia.

Local special circumstances in Colombia also impact the development of the AR Software market. The country has a growing tech-savvy population with increasing access to smartphones and the internet. This provides a favorable environment for the adoption of AR software.

Additionally, the government in Colombia has been supportive of the tech industry, implementing policies and initiatives to promote innovation and entrepreneurship. This creates opportunities for local AR software developers and startups to thrive and contribute to the growth of the market. Underlying macroeconomic factors also play a role in the development of the AR Software market in Colombia.

The country has been experiencing steady economic growth, which contributes to the overall increase in consumer spending and investment in technology. As the economy continues to grow, businesses and individuals are more willing to invest in AR software solutions to enhance their operations and experiences. Furthermore, Colombia has a young and dynamic workforce, which fuels innovation and drives the development of AR software.

In conclusion, the AR Software market in Colombia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for immersive and interactive experiences, integration of AR technology into various industries, favorable local environment, and steady economic growth are driving the growth of the market in Colombia.

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).

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Augmented reality (AR) technology integrates digital information with the physical environment, live and in real time. Through the addition of graphics, sounds, haptic feedback, or even smell to the natural world as it exists, AR can combine real life with a super-imposed image or animation using the camera on a mobile device or through AR headsets and glasses. As part of the wider extended reality (XR) industry, the global AR market size is expected to grow considerably in the coming years.