Global Augmented Reality for Advertising Market 2017-2021
About Augmented Reality for Advertising
AR advertising: The AR technology combines the VR and image recognition technologies to offer a real-world experience to the customers in the advertising industry. The AR technology makes the consumer remember an experience or action related to a particular product, and it allows the viewer to manipulate a computer-generated 3D representation of the product. Hence, it is popularly being used in advertising and marketing. It also allows a more interactive experience, possibly leading to an improved retention of the product information.
Technavio’s analysts forecast the global augmented reality for advertising market to grow at a CAGR of 30.79% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global augmented reality for advertising market for 2017-2021. To calculate the market size, the report considers the revenue generated from the major stakeholders in the global AR market for advertising.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Augmented Reality for Advertising Market 2017-2021
Technavio recognizes the following companies as the key players in the global augmented reality for advertising market: Augmented Pixels, Aurasma, Blippar, Catchoom, and Wikitude.
Other Prominent Vendors in the market are: BBDO, Google, Leo Burnett, McCANN, Metaio, NGRAIN, PTC, Total Immersion, and Zappar.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased mobile AR advertising. Display advertisements on mobile devices are gaining popularity. Many of the smartphone manufacturers, such as Apple and Samsung , are integrating hardware and software to create major AR mobile platforms. Also, several manufacturers of mobile devices are using AR solutions to enhance the user experience.”
According to the report, one driver in the market is affordable advertising. Traditional print ads and digital ads are popular as advertising methods. Brand advertising is also done through print magazines that have catchy images. However, the advertising technique of using a print magazine is expensive. For instance, currently, a one-page color advertisement of goods or services in the Wall Street Journal costs approximately $200,000. AR advertising is more immersive and affordable when compared to print advertising. Moreover, the pricing of AR advertising varies depending on the quality of the AR ads.
Further, the report states that one challenge in the market is need for a standard AR application. AR is currently experiencing popularity across the world. To run AR, AR mobile applications are needed. Customers can experience the world of immersive AR only by installing the mobile app available in the App Store or Google Play Store. Installing the app takes time, and customers are required to keep several AR apps on their mobile devices to get various AR experiences. Hence, many users do not prefer installing and using AR apps. Therefore, customers require a standard AR application. Many companies are trying to meet this requirement.
Augmented Pixels, Aurasma, Blippar, Catchoom, and Wikitude, BBDO, Google, Leo Burnett, McCANN, Metaio, NGRAIN, PTC, Total Immersion, and Zappar.