AR Software - Nordics | Statista Market Forecast

In the Nordics, revenue in the AR Software market market is projected to reach US$245.5m in 2024.
The revenue in this region is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.42%, leading to a projected market volume of US$351.3m by 2029.
While most revenue is generated the United States with a projected market volume of US$3.9bn in 2024, the Nordics will also contribute significantly to the AR Software market sector.
In the AR Software market market within the Nordics, the number of users is anticipated to amount to 23.9m users by 2029.
User penetration in the Nordics will be 82.3% in 2024 and is expected to reach 83.2% by 2029.
The average revenue per user (ARPU) in the Nordics is projected to amount to US$10.6.
In the Nordics, the AR software market is witnessing innovative collaborations between tech startups and established enterprises, fostering a vibrant ecosystem for immersive experiences.

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 Nordics has been experiencing significant growth in recent years. Customer preferences in the AR Software market in Nordics have been shifting towards more interactive and immersive experiences.

Customers are increasingly looking for AR solutions that can provide them with a unique and engaging experience. They want to be able to interact with virtual objects in real-time and have a seamless integration between the virtual and physical world. Additionally, customers in Nordics are also looking for AR Software that can be easily integrated into their existing systems and workflows.

One of the trends in the AR Software market in Nordics is the increasing adoption of AR in industries such as retail, healthcare, and manufacturing. In the retail sector, AR is being used to enhance the shopping experience by allowing customers to virtually try on clothes or visualize how furniture would look in their homes. In the healthcare sector, AR is being used for medical training and surgical planning.

In the manufacturing sector, AR is being used for assembly line optimization and quality control. Another trend in the AR Software market in Nordics is the growing demand for AR Software that can be used on mobile devices. With the increasing popularity of smartphones and tablets, customers are looking for AR solutions that can be easily accessed and used on their mobile devices.

This allows them to have a portable and convenient AR experience. Local special circumstances in the AR Software market in Nordics include the high level of technological advancement and innovation in the region. The Nordics is known for its strong focus on research and development, which has resulted in the development of cutting-edge AR technologies.

Additionally, the region has a high level of digital literacy among its population, which has contributed to the widespread adoption of AR Software. Underlying macroeconomic factors that have contributed to the growth of the AR Software market in Nordics include the strong economy and high disposable income levels in the region. The Nordics has a high standard of living and customers are willing to invest in innovative technologies such as AR.

Additionally, the region has a strong startup ecosystem and supportive government policies, which has encouraged the growth of AR Software companies. In conclusion, the AR Software market in Nordics is experiencing significant growth due to the shifting customer preferences towards more interactive and immersive experiences, the increasing adoption of AR in industries such as retail, healthcare, and manufacturing, the growing demand for AR Software on mobile devices, the high level of technological advancement and innovation in the region, and the strong economy and high disposable income levels.

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.