AR Software - Peru | Statista Market Forecast

In Peru, revenue in the AR Software market market is projected to reach US$10.9m in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.91%, which will result in a projected market volume of US$16.0m by 2029.
Although the most revenue is generated the United States, the AR Software market market in Peru is also anticipated to grow.
In this market, the number of users in Peru is expected to amount to 16.5m users by 2029.
User penetration in Peru will be 42.4% in 2024 and is projected to reach 45.4% by 2029.
Furthermore, the average revenue per user (ARPU) in Peru is expected to amount to US$0.7.
Peru's AR software market is witnessing a growing interest from educational institutions, enhancing interactive learning experiences and fostering technological innovation among students.

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 Peru is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory.

Customer preferences in Peru are shifting towards immersive and interactive experiences. As technology continues to advance, consumers are seeking more engaging and interactive ways to experience content. AR software provides a unique and innovative solution to meet this demand.

By overlaying digital information onto the real world, AR software enhances the user experience and creates a more immersive environment. This is particularly appealing to younger demographics who are more tech-savvy and open to adopting new technologies. Trends in the market further support the growth of AR software in Peru.

The increasing availability and affordability of smartphones and tablets have made AR technology more accessible to the general population. This has led to a rise in the number of AR apps and games being developed, as well as an increase in the use of AR in advertising and marketing campaigns. Additionally, the education and healthcare sectors are also embracing AR technology to enhance learning experiences and improve patient outcomes.

These trends are driving the demand for AR software in Peru and are expected to continue in the coming years. Local special circumstances in Peru also contribute to the development of the AR Software market. The country has a strong tourism industry, with millions of visitors each year.

AR software can be used to enhance the tourist experience by providing interactive and informative content about historical sites, landmarks, and cultural attractions. This not only enriches the visitor experience but also promotes Peru as a technologically advanced and innovative destination. Furthermore, the government has shown support for the development of the technology sector, including AR software, through initiatives and incentives aimed at promoting innovation and entrepreneurship.

These factors create a favorable environment for the growth of the AR Software market in Peru. Underlying macroeconomic factors also play a role in the development of the AR Software market. Peru has experienced steady economic growth in recent years, which has contributed to an increase in disposable income and consumer spending.

As consumers have more discretionary income, they are more likely to invest in new technologies and experiences, such as AR software. Additionally, the government's focus on digital transformation and innovation has created opportunities for technology companies, including those in the AR Software market, to thrive and expand their operations. In conclusion, the AR Software market in Peru is experiencing growth and development due to customer preferences for immersive experiences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As the demand for AR software continues to rise, companies in Peru have the opportunity to capitalize on this growing market and provide innovative solutions to meet consumer needs.

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.