US AR Users will Increase to 97.1 Million by the End of 2023
$1T
As per Kantar’s annual BrandZ rankings, Apple stood as the world’s most valuable brand and became the first $1 trillion brand with a valuation of $947.1 billion. The second place is occupied by Google with a brand value of 79% and has an $819.6 billion valuation. Amazon which has held the top brand for several years now dropped to third place with a valuation of $705.6 billion. Alphabet-owned company was among the 37 firms which need to improve their ranking in the coming years.
91%
The report from Oracle and author-podcaster Gretchin Rubin stated that 91% of the global audience prefer brands to be funny. On the other hand, 95% of business leaders fear of adding humor to consumer interactions and also found that 90% of people remember ads that are funny and 72% of them likely to choose a humorous brand over the competition. The survey was conducted on 12,000 consumers and business leaders across the globe and found humor can improve brand connection with people.
13.2%
This year advertising spending would continue to increase despite the recession loom and even US ad spending is expected to rise 13.2% YOY in 2022. Consumer spending is constantly changing in response to the economy and marketers are prefer to spend on the platform like Facebook and ad formats like search and augmented reality will also continue to perform well, by providing more options for the advertisers to invest.
$6.41 B
In the U.S, the upfront CTV ad spending would ramp up 34.6% to $6.41 billion in 2022 and for the first time, CTV spending would account for two-thirds of US upfront digital video advertising spending. Entire US TV upfront ad spending would be at $19.21 billion for the year 2022-2023.
97.1M
In the upcoming years, there will be a huge competitor for Smartphones with the emerge of metaverse tools and wearables like virtual reality (VR) headsets. In the US, it is expected to rise the AR user base to 97.1 million by the end of 2023. The majority of 62.6% of AR and VR growth is driven by social media itself.