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AR Hardware - Chile

Chile

In Chile, revenue in the AR Hardware market market is projected to reach €17.4m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 13.47%, resulting in a projected market volume of €32.8m by 2029.
Although most revenue is generated the United States, in Chile is also expected to contribute significantly to the AR Hardware market market.
In the AR Hardware market market, the number of users in Chile is expected to amount to 437.7k users by 2029.
User penetration in Chile will be 0.7% in 2024 and is expected to hit 2.2% by 2029.
The average revenue per user (ARPU) in Chile is expected to amount to €124.0.
Chile's AR hardware market is witnessing growing interest as local startups innovate in educational applications, enhancing immersive learning experiences across the country.

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Analyst Opinion

The AR Hardware market in Chile is experiencing steady growth due to increasing customer preferences for immersive and interactive experiences, as well as the advancements in technology and the local special circumstances in the country.

Customer preferences: Customers in Chile are increasingly seeking immersive and interactive experiences, which has led to a growing demand for AR Hardware. With the rise of augmented reality applications in various industries, such as gaming, entertainment, and education, consumers are looking for devices that can provide them with a more engaging and realistic experience. Additionally, the younger generation in Chile is particularly interested in AR technology, driving the demand for AR Hardware.

Trends in the market: One of the key trends in the AR Hardware market in Chile is the increasing adoption of AR glasses. AR glasses offer a hands-free experience, allowing users to overlay digital information onto the real world. These devices are becoming more lightweight, comfortable, and affordable, making them more accessible to consumers. As a result, the demand for AR glasses is expected to rise in Chile. Another trend in the market is the integration of AR technology into smartphones and other mobile devices. Many smartphone manufacturers are incorporating AR features into their devices, such as AR camera filters and AR gaming capabilities. This integration allows users to experience augmented reality without the need for additional hardware, making it more convenient and accessible for a wider range of consumers.

Local special circumstances: Chile has a strong gaming and entertainment industry, which is driving the demand for AR Hardware. The country has a growing number of game developers and studios, who are incorporating augmented reality into their games to provide a more immersive and interactive experience. Additionally, the entertainment industry in Chile is exploring the use of AR technology in live performances and events, further increasing the demand for AR Hardware.

Underlying macroeconomic factors: The growing AR Hardware market in Chile is also influenced by underlying macroeconomic factors. The country has a stable economy and a growing middle class, which has led to an increase in disposable income. As a result, consumers have more purchasing power and are willing to invest in AR Hardware to enhance their entertainment and gaming experiences. Furthermore, the government in Chile has been supportive of the technology sector, providing incentives and funding for research and development in AR technology. This support has created a favorable environment for the growth of the AR Hardware market in Chile.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR hardware revenue, which includes digital spending on hardware (headsets and glasses) that enables consumers to experience augmented reality.

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).