Market Insights Advertising & Media AR & VR

AR Advertising - Thailand

Thailand

The AR Advertising market in Thailand is forecasted to achieve a revenue of US$22.9m in 2024.
This projection indicates an anticipated annual growth rate (CAGR 2024-2028) of 9.73%, leading to an estimated market volume of US$33.2m by 2028.
It is noteworthy that in the United States accounts for the majority of the revenue, with a projected market volume of US$1,224.0m in 2024.
Thailand's AR Advertising market is experiencing exponential growth, driven by the country's tech-savvy population and increasing demand for immersive and interactive advertising experiences.

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Analyst Opinion

The AR Advertising market in Thailand is experiencing significant growth and development.

Customer preferences: Customers in Thailand are increasingly embracing AR Advertising due to its interactive and immersive nature. AR Advertising allows customers to engage with brands in a more meaningful and memorable way, enhancing their overall shopping experience. Additionally, customers appreciate the convenience and accessibility of AR Advertising, as it can be accessed through mobile devices and does not require any additional equipment or installations.

Trends in the market: One major trend in the AR Advertising market in Thailand is the integration of AR technology into various industries. Companies in sectors such as retail, real estate, and entertainment are leveraging AR Advertising to showcase their products and services in a more engaging and interactive manner. For example, retail brands are using AR to create virtual fitting rooms, allowing customers to try on clothes virtually before making a purchase. This trend is driven by the desire to provide customers with a unique and personalized shopping experience, ultimately increasing sales and customer loyalty. Another trend in the market is the increasing use of AR Advertising in social media platforms. Social media platforms such as Facebook and Instagram have introduced AR features that allow brands to create interactive and immersive advertisements. This trend is driven by the popularity of social media among Thai consumers, who spend a significant amount of time on these platforms. Brands are leveraging AR Advertising on social media to reach a wider audience and increase brand awareness.

Local special circumstances: Thailand's strong tourism industry is a significant factor driving the growth of the AR Advertising market. The country attracts millions of tourists each year, and AR Advertising provides an innovative way for brands to engage with this diverse and international customer base. For example, tourist attractions and hotels are using AR Advertising to provide virtual tours and enhance the overall visitor experience. This special circumstance creates a unique opportunity for brands to target both local and international customers through AR Advertising.

Underlying macroeconomic factors: Thailand's strong economic growth and increasing disposable income levels are contributing to the growth of the AR Advertising market. As the country's economy continues to expand, consumers have more purchasing power, leading to increased spending on products and services. This provides brands with the opportunity to invest in innovative marketing strategies such as AR Advertising to attract and retain customers. Additionally, Thailand's strong digital infrastructure and high smartphone penetration rate make it an ideal market for AR Advertising, as customers have easy access to the necessary technology.

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).