Market Insights Advertising & Media AR & VR

AR Advertising - Ireland

Ireland

In Ireland, the revenue in the AR Advertising market market is projected to reach €15.9m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.48%, resulting in a projected market volume of €25.0m by 2029.
While a projected market volume of €1,135.0m in 2024 indicates significant growth potential, it is noteworthy that most revenue is generated the United States.
In Ireland, the AR advertising market is rapidly evolving, driven by innovative campaigns that enhance consumer engagement and brand storytelling.

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Analyst Opinion

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

Customer preferences: Customers in Ireland are increasingly embracing augmented reality (AR) advertising. They are drawn to the interactive and immersive nature of AR, which allows them to engage with brands and products in a unique way. AR advertising provides customers with a more personalized and engaging experience, which resonates well with the tech-savvy Irish population. Additionally, customers appreciate the convenience of AR advertising, as it allows them to visualize products and make informed purchasing decisions without the need to physically visit a store.

Trends in the market: One of the key trends in the AR Advertising market in Ireland is the integration of AR technology into social media platforms. Social media platforms such as Facebook, Instagram, and Snapchat are increasingly incorporating AR features into their advertising options. This trend is driven by the growing popularity of social media among Irish consumers, as well as the desire of brands to reach their target audience in a more interactive and engaging way. AR advertising on social media allows brands to create immersive experiences for customers, increasing brand awareness and driving sales. Another trend in the AR Advertising market in Ireland is the use of AR in the retail sector. Retailers are leveraging AR technology to enhance the shopping experience for customers. AR allows customers to virtually try on clothes, visualize furniture in their homes, and even test out makeup products. This not only improves the customer experience but also reduces the likelihood of returns, as customers can make more informed purchasing decisions. Retailers in Ireland are increasingly investing in AR technology to stay competitive and meet the changing expectations of their customers.

Local special circumstances: Ireland has a strong technology sector, with many multinational technology companies having a presence in the country. This has created a favorable environment for the development and adoption of AR technology. The presence of these technology companies has led to a pool of skilled professionals in the AR industry, as well as access to cutting-edge technology and resources. This has facilitated the growth of the AR Advertising market in Ireland and positioned the country as a hub for AR innovation.

Underlying macroeconomic factors: The strong economic growth in Ireland has contributed to the development of the AR Advertising market. The country has experienced robust GDP growth, low unemployment rates, and rising disposable incomes. These favorable economic conditions have increased consumer spending power and willingness to try new technologies, such as AR advertising. Additionally, the government has been supportive of the technology sector, providing incentives and initiatives to promote innovation and entrepreneurship. This has further fueled the growth of the AR Advertising market in Ireland. In conclusion, the AR Advertising market in Ireland is flourishing due to customer preferences for interactive and immersive experiences, trends in the integration of AR technology into social media and retail sectors, local special circumstances such as the presence of technology companies, and favorable macroeconomic factors including strong economic growth and government support.

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).