AR Software - Lithuania | Statista Market Forecast

In Lithuania, revenue in the AR Software market market is projected to reach US$5.7m in 2024.
Revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 8.48%, leading to a projected market volume of US$8.6m by 2029.
While most revenue in the global AR Software market market is generated the United States, in Lithuania is also expected to contribute significantly to this market.
In the AR Software market market, the number of users in Lithuania is projected to amount to 1.4m users by 2029.
User penetration in Lithuania will be 50.5% in 2024 and is expected to increase to 52.6% by 2029.
The average revenue per user (ARPU) in Lithuania is expected to reach US$4.2.
Lithuania's AR software market is witnessing a surge in innovative applications across education and gaming, reflecting the country's growing tech-savvy population.

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 Lithuania is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend.

Customer preferences in Lithuania are shifting towards more immersive and interactive experiences. As technology continues to advance, consumers are becoming more interested in augmented reality (AR) software that can enhance their daily lives. This includes applications in gaming, entertainment, education, and even in industries such as healthcare and manufacturing.

The demand for AR software is driven by the desire for more engaging and interactive experiences. Trends in the market indicate that AR software is becoming more accessible and affordable. With the development of new technologies and the increasing competition in the market, the cost of AR software has decreased, making it more accessible to a wider range of consumers.

Additionally, the availability of AR software on mobile devices has also contributed to its popularity, as it allows users to experience AR without the need for specialized hardware. Local special circumstances in Lithuania also contribute to the growth of the AR Software market. Lithuania has a strong technology sector and is known for its skilled workforce in the field of IT.

This has attracted both local and foreign companies to invest in AR software development in the country. The government has also been supportive of the technology sector, providing incentives and support for businesses in the industry. This favorable environment has created opportunities for the growth of the AR Software market in Lithuania.

Underlying macroeconomic factors also play a role in the development of the AR Software market in Lithuania. The country has experienced steady economic growth in recent years, which has increased consumer purchasing power. As a result, consumers are more willing to invest in new technologies, including AR software.

Additionally, Lithuania's membership in the European Union provides access to a larger market and opportunities for international partnerships, further contributing to the growth of the AR Software market. In conclusion, the AR Software market in Lithuania is experiencing growth and development due to customer preferences for immersive and interactive experiences, trends in the market towards more accessible and affordable AR software, local special circumstances including a strong technology sector and government support, and underlying macroeconomic factors such as economic growth and access to a larger market. This positive trend is expected to continue as technology continues to advance and consumer demand for AR software increases.

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.