Market Insights Advertising & Media AR & VR

AR Advertising - Belgium

Belgium

In Belgium, revenue in the AR Advertising market market is projected to reach €28.6m in 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 9.48%, which will result in a projected market volume of €45.0m by 2029.
While in Belgium has its own growth trajectory, it is important to note that most revenue in the AR Advertising market market is generated the United States, with a projected market volume of €1,135.0m in 2024.
Belgium's AR advertising market is increasingly embracing immersive storytelling, enhancing consumer engagement through innovative brand experiences tailored for local audiences.

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Analyst Opinion

The AR Advertising market in Belgium has been experiencing significant growth in recent years.

Customer preferences: Belgian consumers have shown a strong interest in AR Advertising, as it provides a unique and interactive experience. They appreciate the ability to engage with brands and products in a more immersive way, which enhances their overall shopping experience. Additionally, AR Advertising allows consumers to visualize products in their own environment, giving them a better sense of how the product will fit into their lives. This has led to increased engagement and conversion rates for advertisers.

Trends in the market: One of the key trends in the AR Advertising market in Belgium is the integration of AR technology into social media platforms. Social media has become an integral part of people's lives, and by incorporating AR Advertising into platforms such as Instagram and Snapchat, brands are able to reach a wider audience and engage with consumers in a more personalized way. This trend has been driven by the increasing use of smartphones and the growing popularity of social media among Belgian consumers. Another trend in the market is the use of AR Advertising in the retail sector. Retailers in Belgium are leveraging AR technology to enhance the in-store shopping experience. For example, some stores have implemented AR mirrors that allow customers to virtually try on clothing and accessories without physically trying them on. This not only saves time for customers but also provides a fun and interactive shopping experience. This trend has been particularly successful in attracting younger consumers who are more tech-savvy and open to new experiences.

Local special circumstances: Belgium is known for its strong creative and advertising industry. The country has a rich history of producing innovative and engaging advertising campaigns. This creative mindset has translated well into the AR Advertising market, as Belgian advertisers have been quick to embrace and experiment with AR technology. The local advertising industry has been instrumental in driving the growth of the AR Advertising market in Belgium.

Underlying macroeconomic factors: The growth of the AR Advertising market in Belgium can also be attributed to the country's strong economy and high level of digital connectivity. Belgium has a well-developed infrastructure and a high internet penetration rate, which has created a favorable environment for the adoption of AR technology. Additionally, the country's stable political and economic climate has attracted foreign investment, further fueling the growth of the AR Advertising market. In conclusion, the AR Advertising market in Belgium is experiencing significant growth due to customer preferences for immersive and interactive advertising experiences. The integration of AR technology into social media platforms and the use of AR in the retail sector are key trends driving this growth. Belgium's strong creative and advertising industry, along with its robust economy and digital connectivity, have created a favorable environment for the development of the AR Advertising market.

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).