Market Insights Advertising & Media AR & VR

AR Software - Thailand

Thailand

In Thailand, revenue in the AR Software market market is projected to reach €81.6m in 2024.
Revenue in this sector is expected to exhibit an annual growth rate (CAGR 2024-2029) of 8.49%, resulting in a projected market volume of €122.6m by 2029.
While most revenue is generated the United States with a projected market volume of €3,620.0m in 2024, Thailand's market also reflects significant growth potential.
In Thailand's AR Software market market, the number of users is anticipated to reach 34.4m users by 2029.
User penetration is projected to be 48.5% in 2024 and is expected to decline slightly to 47.8% by 2029.
The average revenue per user (ARPU) in Thailand is expected to amount to €2.3.
Thailand's AR software market is increasingly embracing immersive technology in tourism, enhancing visitor experiences through interactive storytelling and virtual exploration.

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Analyst Opinion

The AR Software market in Thailand is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Thailand are shifting towards AR Software due to its ability to enhance user experiences and provide interactive and immersive content.

Consumers are increasingly seeking innovative and engaging ways to interact with brands and products, and AR Software offers a unique solution. Additionally, businesses in Thailand are recognizing the benefits of AR Software in improving customer engagement and increasing sales. This customer demand is fueling the growth of the AR Software market in Thailand.

Trends in the market indicate that AR Software is being adopted across various industries in Thailand. The retail sector, for example, is leveraging AR Software to create virtual shopping experiences, allowing customers to try on clothes or visualize furniture in their homes before making a purchase. The tourism industry is also embracing AR Software to provide interactive and informative experiences for tourists, enhancing their understanding and enjoyment of historical sites and landmarks.

These trends reflect the growing importance of AR Software in enhancing customer experiences and driving business growth. Local special circumstances in Thailand are also contributing to the development of the AR Software market. The country has a strong technology infrastructure and a growing tech-savvy population, making it an ideal environment for the adoption of AR Software.

Additionally, the Thai government has been actively promoting the development of the digital economy, which includes supporting the growth of AR Software. These local circumstances create a conducive environment for the expansion of the AR Software market in Thailand. Underlying macroeconomic factors are also playing a role in the development of the AR Software market in Thailand.

The country's strong economic growth and increasing disposable income levels are driving consumer spending and fueling demand for innovative and immersive technologies like AR Software. Furthermore, Thailand's strategic location in Southeast Asia positions it as a hub for regional business activities, attracting international companies that are investing in AR Software development and deployment. These macroeconomic factors contribute to the growth and expansion of the AR Software market in Thailand.

In conclusion, the AR Software market in Thailand is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for AR Software is driven by consumer desire for interactive and immersive experiences, while businesses recognize its potential in enhancing customer engagement. The adoption of AR Software across various industries reflects its versatility and effectiveness in meeting customer needs.

Local special circumstances, such as a strong technology infrastructure and government support, create a conducive environment for the growth of the AR Software market. Additionally, Thailand's strong economic growth and strategic location contribute to the expansion of the market. Overall, the AR Software market in Thailand is poised for continued growth and development in the coming years.

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).