Digital Audio Advertising - GCC

GCC

Highlights

Ad spending in the Digital Audio Advertising market in GCC is forecasted to reach US$19.07m in 2024.
The market is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 2.78%, leading to a projected market volume of US$22.48m by 2030.
With a projected market volume of US$6.59bn in 2024, the majority of revenue will be generated withthe United States.
In the Digital Audio Advertising market in GCC, the number of listeners is anticipated to reach 0.0users by 2030.
The average ad spending per user in the Digital Audio Advertising market is estimated to be US$1.47 in 2024.
Within the GCC Digital Audio Advertising market, 78% of total ad spending is expected to come from mobile devices in 2030.
Digital Audio Advertising in the GCC is experiencing rapid growth due to increasing internet penetration and the popularity of streaming services like Anghami in the region.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digital Audio Advertising market in GCC has been experiencing significant growth in recent years.

Customer preferences: Customers in the GCC region have shown a growing preference for digital audio advertising. This can be attributed to several factors, including the increasing popularity of streaming services and the widespread use of smartphones. With the convenience and accessibility of digital audio platforms, customers are opting for this form of advertising over traditional radio advertisements. Additionally, customers appreciate the personalized and targeted nature of digital audio advertising, as it allows them to receive relevant content based on their interests and preferences.

Trends in the market: One of the key trends in the Digital Audio Advertising market in GCC is the rise of programmatic advertising. Programmatic advertising allows for automated ad buying and placement, enabling advertisers to reach their target audience more effectively. This trend has gained traction in the GCC region due to the increasing adoption of programmatic technology by advertisers and the availability of data-driven insights that help optimize campaign performance. As a result, programmatic advertising has become a popular choice for many brands looking to maximize their advertising ROI. Another trend in the Digital Audio Advertising market in GCC is the growth of podcast advertising. Podcasts have gained immense popularity in recent years, with a wide range of topics and genres catering to different interests. Advertisers are leveraging this trend by incorporating ads within podcasts, reaching a captive audience that is highly engaged and receptive to the content. This form of advertising allows brands to connect with their target audience in a more intimate and personalized manner.

Local special circumstances: The GCC region has a unique cultural landscape that influences the Digital Audio Advertising market. With a diverse population and multiple languages spoken in the region, advertisers need to consider localization and language preferences when developing their digital audio ad campaigns. Advertisers that tailor their content to the local culture and language are more likely to resonate with the target audience and drive better engagement.

Underlying macroeconomic factors: The Digital Audio Advertising market in GCC is also influenced by underlying macroeconomic factors. The region has been experiencing rapid economic growth, with a strong focus on technology and digital innovation. This has led to increased internet penetration and smartphone adoption, creating a conducive environment for the growth of digital audio advertising. Additionally, the GCC region has a young and tech-savvy population, which further drives the demand for digital advertising solutions. In conclusion, the Digital Audio Advertising market in GCC is witnessing significant growth due to customer preferences for personalized and targeted advertising, as well as the rise of programmatic advertising and podcast advertising. Advertisers in the region need to consider local special circumstances, such as language preferences and cultural nuances, to effectively engage with the target audience. The underlying macroeconomic factors, including rapid economic growth and a young population, further contribute to the development of the Digital Audio Advertising market in GCC.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers pre- and in-stream audio ads and podcast streaming ads.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, web traffic, and survey results from our primary research (e.g., Consumer Insights Global Survey) 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 GDP, media consumption, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.