Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising - Vietnam

Vietnam

Ad spending in the Digital Audio Advertising market in Vietnam is forecasted to reach US$20.92m by 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.21%, leading to a projected market volume of US$25.71m by 2029.
With a projected market volume of US$7,078.00m in 2024, the majority of revenue will be generated the United States.
In Vietnam's Digital Audio Advertising market, the number of listeners is expected to reach 5.4m users by 2029.
The average ad spending per user in the Digital Audio Advertising market in Vietnam is projected to be US$4.61 in 2024.
Within the Digital Audio Advertising market in Vietnam, 67% of total ad spending will be derived through mobile in 2029.
Vietnam's Digital Audio Advertising market is rapidly growing, driven by increased internet penetration and mobile usage among its tech-savvy population.

Key regions: United States, France, India, Asia, Japan

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Analyst Opinion

The Digital Audio Advertising market in Vietnam is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Vietnam are shifting towards digital audio platforms for their entertainment and information needs. With the increasing availability of smartphones and affordable data plans, more Vietnamese consumers are accessing digital audio content on platforms such as music streaming apps, podcasts, and online radio stations. This shift in preference is driven by the convenience and personalized nature of digital audio, allowing users to listen to their favorite music, podcasts, and radio shows anytime and anywhere. Additionally, the ability to skip or customize content on digital audio platforms provides a more tailored and engaging experience for listeners. Trends in the market indicate a growing adoption of digital audio advertising in Vietnam. Advertisers are recognizing the potential of reaching a highly engaged audience through digital audio platforms. With the rise of programmatic advertising, advertisers can target specific demographics and interests, ensuring their messages are delivered to the right audience at the right time. This targeted approach enhances the effectiveness of advertising campaigns and maximizes return on investment for advertisers. Furthermore, the integration of interactive and immersive ad formats, such as audio ads with clickable links or voice-activated commands, provides a more engaging and interactive experience for listeners, increasing the effectiveness of advertising. Local special circumstances in Vietnam, such as a young and tech-savvy population, contribute to the growth of the Digital Audio Advertising market. Vietnam has a large population of young people who are early adopters of new technologies. This demographic is more likely to embrace digital audio platforms and engage with digital audio advertising. Additionally, the increasing penetration of smartphones and internet connectivity in Vietnam further facilitates the adoption of digital audio advertising. Underlying macroeconomic factors also play a role in the development of the Digital Audio Advertising market in Vietnam. The country's growing economy and rising disposable incomes have led to an increase in consumer spending on entertainment and media. Advertisers are capitalizing on this trend by investing in digital audio advertising to reach the growing consumer base in Vietnam. Furthermore, the digitalization of the advertising industry as a whole is driving the shift towards digital audio advertising, as advertisers seek more cost-effective and measurable advertising channels. In conclusion, the Digital Audio Advertising market in Vietnam is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital audio platforms, the adoption of programmatic advertising, the young and tech-savvy population, and the growing economy are all contributing to the expansion of the market. Advertisers in Vietnam are recognizing the potential of digital audio advertising to reach a highly engaged audience and are investing in this medium to maximize the effectiveness of their campaigns.

Methodology

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.