Market Insights Advertising & Media AR & VR

AR Advertising - Turkey

Turkey

In Turkey, the AR Advertising market is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$58.0m in 2024.
This indicates a substantial potential for growth in the country's AR Advertising market sector.
Moreover, the market is expected to exhibit a promising annual growth rate of 9.25% between 2024 and 2029 (CAGR 2024-2029).
This growth trajectory is projected to result in a market volume of US$90.2m by 2029.
These numbers signify the increasing demand and adoption of AR Advertising market solutions in Turkey.
It's worth noting that in the United States currently dominates the global AR Advertising market, generating the majority of revenue.
With a projected market volume of US$1,224.0m in 2024, in the United States holds a significant share in the AR Advertising market industry.
As in Turkey continues to embrace AR Advertising market technology, it is expected to witness substantial growth and make its mark in the global market segment.
Turkey is experiencing a surge in AR advertising adoption, with brands leveraging the technology to engage and captivate consumers in innovative ways.

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Analyst Opinion

The AR Advertising market in Turkey is experiencing significant growth and development due to several factors. Customer preferences are shifting towards more immersive and interactive advertising experiences, which is driving the demand for AR advertising.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of this market. Customer preferences in Turkey are increasingly focused on engaging and interactive advertising experiences. AR advertising offers a unique and immersive way for brands to connect with their target audience.

With AR technology, brands can create interactive advertisements that allow consumers to virtually try products, explore different features, and visualize how they would fit into their lives. This level of interactivity and engagement is highly appealing to Turkish consumers, who are looking for more personalized and interactive experiences with brands. The market for AR advertising in Turkey is also being driven by local special circumstances.

Turkey has a large and tech-savvy population, with high smartphone penetration rates. This provides a strong foundation for the adoption of AR technology and the growth of AR advertising. Additionally, Turkish consumers are known for their interest in new technologies and their willingness to try out innovative products and services.

This openness to new experiences and technologies creates a favorable environment for the development of the AR advertising market. Underlying macroeconomic factors are also contributing to the growth of the AR advertising market in Turkey. The Turkish economy has been experiencing steady growth in recent years, with a growing middle class and increasing disposable incomes.

This has led to an increase in consumer spending and a greater demand for products and services. As a result, brands are looking for new and innovative ways to reach and engage with Turkish consumers. AR advertising provides a unique and effective way for brands to capture the attention of consumers and differentiate themselves from competitors.

In conclusion, the AR Advertising market in Turkey is growing and developing due to customer preferences for more immersive and interactive advertising experiences, local special circumstances such as high smartphone penetration rates and a tech-savvy population, and underlying macroeconomic factors such as steady economic growth and increasing consumer spending. As the market continues to evolve, we can expect to see further innovation and investment in AR advertising in Turkey.

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).