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AR Software - Australia

Australia

The AR Software market in Australia is projected to experience significant revenue growth in the coming years.
By 2024, revenue is expected to reach AUD US$0.5bn.
This upward trend is anticipated to continue, with an annual growth rate (CAGR 2024-2028) of 8.62%.
As a result, the market volume is projected to reach AUD US$0.7bn by 2028.
It is worth noting that in the United States currently dominates the AR Software market, generating the majority of the revenue.
In 2024, the projected market volume in the United States alone is estimated to be AUD US$3,945.0m.
In terms of user base, the number of AR Software market users in Australia is expected to grow significantly, reaching 18.7m users by 2028.
User penetration, which refers to the percentage of the population using AR Software market, is projected to increase from 65.9% in 2024 to 67.5% in 2028.
The average revenue per user (ARPU) is expected to amount to AUD US$29.1.
This metric provides insights into the financial performance of the AR Software market in relation to its user base.
Australia is experiencing a surge in demand for AR software, as businesses embrace the technology to enhance customer experiences and improve productivity.

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Analyst Opinion

The AR Software market in Australia is experiencing significant growth and development.

Customer preferences: Customers in Australia are increasingly interested in AR software due to its ability to enhance user experiences and provide interactive and immersive content. The demand for AR software is particularly high in industries such as gaming, entertainment, retail, and marketing. Customers are also drawn to the convenience and accessibility of AR software, as it can be used on various devices such as smartphones, tablets, and wearable devices.

Trends in the market: One of the key trends in the AR Software market in Australia is the integration of AR technology into mobile applications. This allows users to access AR experiences directly from their smartphones, without the need for additional hardware. This trend is driven by the widespread adoption of smartphones in Australia and the increasing capabilities of mobile devices. Another trend in the market is the development of AR software for industrial applications. Industries such as manufacturing, construction, and healthcare are leveraging AR technology to improve productivity, safety, and efficiency. For example, AR software can be used to provide real-time instructions and guidance to workers, reducing the risk of errors and accidents.

Local special circumstances: Australia has a strong gaming and entertainment industry, which has contributed to the growth of the AR Software market. The popularity of gaming and entertainment content has created a demand for AR software that can enhance these experiences. Additionally, the Australian retail sector is embracing AR technology to provide virtual try-on experiences for customers, allowing them to visualize products before making a purchase.

Underlying macroeconomic factors: The growing AR Software market in Australia is also influenced by several macroeconomic factors. The increasing penetration of high-speed internet and the availability of affordable devices have made AR software more accessible to a wider audience. The rising disposable income of consumers in Australia has also contributed to the demand for AR software, as customers are willing to invest in innovative and immersive experiences. In conclusion, the AR Software market in Australia is experiencing significant growth and development. Customer preferences for immersive and interactive experiences, along with the integration of AR technology into mobile applications and industrial sectors, are driving the market. The strong gaming and entertainment industry, as well as the adoption of AR technology in the retail sector, are also contributing to the growth of the market. The underlying macroeconomic factors, such as the increasing accessibility of AR software and the rising disposable income of consumers, further support the development of the market in Australia.

Methodology

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).