Market Insights Advertising & Media AR & VR

AR Advertising - Denmark

Denmark

In Denmark, the revenue in the AR Advertising market market is projected to reach €22.1m in 2024.
The revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 9.08%, leading to a projected market volume of €34.1m by 2029.
Although most revenue is generated the United States, in Denmark is also expected to contribute with a projected market volume of €1,123.0m in 2024.
Denmark is witnessing a growing adoption of AR advertising, driven by innovative marketing strategies that enhance consumer experiences in a competitive digital landscape.

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Analyst Opinion

The AR Advertising market in Denmark is experiencing steady growth due to the increasing demand for immersive and interactive advertising experiences.

Customer preferences: Customers in Denmark are increasingly seeking unique and engaging advertising experiences. They are more likely to respond positively to advertisements that offer interactive elements and incorporate augmented reality (AR) technology. This preference for AR advertising is driven by the desire for personalized and memorable experiences that stand out from traditional forms of advertising.

Trends in the market: One of the key trends in the AR Advertising market in Denmark is the integration of AR technology into mobile applications. With the widespread use of smartphones, advertisers are leveraging AR to create interactive and immersive experiences for users. This trend is fueled by the growing availability of AR development tools and platforms, making it easier for companies to incorporate AR into their advertising campaigns. Another trend in the market is the use of AR in retail and e-commerce. Danish consumers are increasingly turning to online shopping, and AR technology allows them to visualize products in a virtual environment before making a purchase. This enhances the shopping experience and reduces the risk of dissatisfaction with the product. As a result, retailers in Denmark are investing in AR advertising to attract and engage customers.

Local special circumstances: Denmark has a highly digitalized and tech-savvy population, making it an ideal market for AR advertising. The country has one of the highest internet penetration rates in the world, and Danish consumers are early adopters of new technologies. This favorable environment encourages advertisers to invest in AR campaigns to capture the attention of the tech-savvy Danish audience.

Underlying macroeconomic factors: The strong economy in Denmark is also contributing to the growth of the AR Advertising market. With a high GDP per capita and low unemployment rate, Danish consumers have the purchasing power to engage with AR advertisements. Advertisers recognize the potential of the Danish market and are allocating more resources to AR advertising campaigns to capitalize on the favorable economic conditions. In conclusion, the AR Advertising market in Denmark is growing due to customer preferences for immersive and interactive advertising experiences. The integration of AR technology into mobile applications and the use of AR in retail and e-commerce are key trends driving this growth. The tech-savvy population and strong economy in Denmark provide 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).