Global Augmented Reality for Advertising Market 2017-2021

Overview of the global augmented reality for advertising market

Technavio's market study identifies the increasing adoption of the mobile AR platform as one of the primary growth factors for the augmented reality for advertising market. The adoption of augmented reality (AR) and the use of mobile devices, enhances the advertising experience for consumers. AR advertising offers the delicate aspects of touch, movement, sound, and sight in mobile ads. Vendors are increasingly focusing on integrating advanced technologies and are targeting the growing awareness of AR to advertise their products using the mobile AR platform. Our market research analysts estimate that this market will grow steadily at a CAGR of around 31% by 2021.

The increase in mobile AR advertising will be one of the key trends that will gain traction in the augmented reality for advertising market during the next few years. Smartphone manufacturers such as Apple and Samsung, are already focusing on integrating their hardware and software to create major AR mobile platforms and support AR display advertisements. Mobile device manufacturers are increasingly integrating AR solutions into mobile devices to enhance the user experience. The increased popularity and penetration of the AR technology in smartphones and tablets will subsequently influence the growth of AR advertising market.

Competitive landscape and key vendors

The augmented reality for advertising market is highly competitive due to the presence of several international, regional, and domestic players offering a wide portfolio of AR products and solutions. According to the augmented reality for advertising market outlook, AR advertising companies are focusing extensively on R&D and product innovation to cater to the changing demands of the customers. To increase their geographical presence, vendors in the augmented reality advertising market are increasingly engaging in M&A activities.