Market Insights Advertising & Media AR & VR

AR Software - Chile

Chile

In Chile, revenue in the AR Software market market is projected to reach €39.3m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 8.45%, resulting in a projected market volume of €58.9m by 2029.
While most revenue is generated the United States, in Chile is also part of the AR Software market market landscape.
The number of users in the AR Software market market in Chile is expected to amount to 11.4m users by 2029.
User penetration in Chile will be 56.7% in 2024 and is expected to hit 57.1% by 2029.
The average revenue per user (ARPU) in Chile is expected to amount to €3.5.
In Chile, the AR software market is witnessing growing interest from educational institutions seeking innovative solutions to enhance remote learning experiences.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The AR Software market in Chile is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Chile are increasingly interested in AR software due to its ability to enhance their daily lives and improve their overall experience. AR technology allows users to interact with virtual objects in the real world, providing a more immersive and engaging experience. This appeals to a wide range of customers, from gamers looking for a more realistic gaming experience to businesses seeking innovative solutions to improve their operations.

Trends in the market: One of the major trends in the AR Software market in Chile is the increasing adoption of AR technology in various industries. Businesses are realizing the potential of AR software to revolutionize their operations and provide unique experiences to their customers. For example, the retail industry is using AR technology to create virtual fitting rooms, allowing customers to try on clothes virtually before making a purchase. Similarly, the tourism industry is leveraging AR technology to provide interactive and informative experiences for tourists. Another trend in the AR Software market in Chile is the growing demand for AR-enabled mobile applications. With the widespread use of smartphones, more and more people are using AR-enabled mobile applications for various purposes, such as gaming, navigation, and education. This trend is driving the development of AR software specifically designed for mobile platforms, catering to the needs and preferences of mobile users.

Local special circumstances: Chile has a thriving technology sector, with a strong focus on innovation and entrepreneurship. This has created a conducive environment for the development and adoption of AR software. The government has also been supportive of the technology sector, providing incentives and support for startups and tech companies. This has further fueled the growth of the AR Software market in Chile.

Underlying macroeconomic factors: Chile has a stable economy with a growing middle class, which has contributed to the increasing demand for AR software. As people's disposable income increases, they are more willing to invest in technology that enhances their daily lives and provides unique experiences. Additionally, the country has a high smartphone penetration rate, which provides a ready market for AR-enabled mobile applications. In conclusion, the AR Software market in Chile is experiencing significant growth and development due to customer preferences for immersive and engaging experiences, the adoption of AR technology in various industries, the growing demand for AR-enabled mobile applications, the supportive environment for technology innovation, and the stable macroeconomic factors in the country.

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).