Market Insights Advertising & Media AR & VR

AR Advertising - Czechia

Czechia

The AR Advertising market in Czechia is predicted to achieve a revenue of US$13.4m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 9.26%, leading to a projected market volume of US$20.9m by 2029.
In terms of revenue generation, in the United States dominates the market with a projected market volume of US$1,224.0m in 2024.
In Czechia, AR Advertising is gaining popularity among tech-savvy consumers, with brands leveraging its immersive capabilities to engage and captivate audiences.

Market

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Analyst Opinion

The AR Advertising market in Czechia is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Czechia are increasingly embracing AR Advertising due to its interactive and engaging nature. AR Advertising allows consumers to have a more immersive and personalized experience with brands, which is highly appealing. Additionally, customers are becoming more tech-savvy and open to trying new technologies, making them more receptive to AR Advertising campaigns.

Trends in the market: One of the key trends in the AR Advertising market in Czechia is the integration of AR technology into social media platforms. Social media platforms such as Facebook and Instagram are incorporating AR features, allowing brands to create AR Advertising campaigns directly within these platforms. This trend is driven by the popularity of social media among Czech consumers and the desire for brands to reach their target audience through these channels. Another trend in the market is the use of AR Advertising in the retail sector. Retailers in Czechia are leveraging AR technology to enhance the shopping experience for customers. For example, AR apps can be used to virtually try on clothes or visualize furniture in a customer's home. This trend is driven by the increasing demand for online shopping and the need for retailers to provide a more interactive and immersive experience to customers.

Local special circumstances: Czechia has a strong and growing tech industry, which provides a favorable environment for the development of AR Advertising. The country has a highly skilled workforce and a supportive government that encourages innovation and technological advancements. This creates opportunities for local startups and tech companies to develop AR Advertising solutions and attract investment.

Underlying macroeconomic factors: The overall economic growth in Czechia is also contributing to the development of the AR Advertising market. As the economy grows, businesses have more resources to invest in advertising and marketing strategies, including AR Advertising. Additionally, the increasing disposable income of Czech consumers allows them to engage more with brands and try new products or experiences offered through AR Advertising. In conclusion, the AR Advertising market in Czechia is experiencing growth and development driven by customer preferences for interactive and engaging advertising, trends such as the integration of AR technology into social media platforms and the use of AR in the retail sector, local special circumstances including a strong tech industry, and underlying macroeconomic factors such as economic growth and increasing disposable income.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR advertising revenue, which includes pop-up advertising displayed in social media apps, gaming apps, and eCommerce apps as well as advertising that is integrated into the virtual world.

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).