The global augmented reality for advertising market to grow at a CAGR of 30.79% during the period 2017-2021, according to Research and Markets (www.researchandmarkets.com).
To calculate the market size, the research group considered the revenue generated from the major stakeholders in the global AR market for advertising. The AR technology combines the VR and image recognition technologies to offer a real-world experience to the customers in the advertising industry.
The AR technology makes the consumer remember an experience or action related to a particular product, and it allows the viewer to manipulate a computer-generated 3D representation of the product. Hence, it is popularly being used in advertising and marketing, notes Research and Markets. It also allows a more interactive experience, possibly leading to an improved retention of the product information.
One trend in the market is increased mobile AR advertising. Display advertisements on mobile devices are gaining popularity, says Research and Markets. Many of the smartphone manufacturers, such as Apple and Samsung, are integrating hardware and software to create major AR mobile platforms. Also, several manufacturers of mobile devices are using AR solutions to enhance the user experience.