Digital Banner Advertising - Vietnam

Vietnam

Highlights

Ad spending in the Digital Banner Advertising market in Vietnam is forecasted to reach US$370.10m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 5.66%, leading to a projected market volume of US$514.90m by 2030.
When compared globally, the majority of ad spending is expected to originate from the United States (US$67.12bn in 2024).
The average ad spending per internet user in the Digital Banner Advertising market in Vietnam is estimated to be US$4.25 in 2024.
Within the Digital Banner Advertising market, 75% of the total ad spending is projected to be generated through mobile in 2030.
Vietnam's digital banner advertising market is rapidly growing, driven by increased internet penetration and a tech-savvy population embracing online platforms.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digital Banner Advertising market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing adoption of digital advertising channels.

Customer preferences: Vietnamese consumers are increasingly turning to digital platforms for their information and entertainment needs. With the rapid growth of internet penetration and smartphone usage in the country, more people are spending their time online, creating a larger audience for digital advertising. Additionally, younger demographics, who are more likely to be tech-savvy and spend a significant amount of time on social media, are becoming an important target market for advertisers. As a result, there is a growing demand for digital banner advertising to reach these consumers effectively.

Trends in the market: One of the key trends in the Digital Banner Advertising market in Vietnam is the shift towards programmatic advertising. Programmatic advertising allows for more targeted and personalized ads, as it uses data and algorithms to automate the buying and selling process. This trend is driven by the increasing availability of data and the need for advertisers to optimize their campaigns for better performance. Programmatic advertising also offers cost-efficiency and scalability, making it an attractive option for advertisers in Vietnam. Another trend in the market is the rise of mobile advertising. With a high smartphone penetration rate in Vietnam, mobile devices have become the primary means of accessing the internet for many consumers. This has led to an increase in mobile advertising, including mobile banner ads. Advertisers are recognizing the importance of reaching consumers on their mobile devices, and are investing in mobile advertising to capture their attention and drive engagement.

Local special circumstances: Vietnam has a young and dynamic population, with a large proportion of its population under the age of 35. This demographic is highly active on social media and spends a significant amount of time online, creating a favorable environment for digital banner advertising. Additionally, the Vietnamese market is relatively untapped compared to more mature markets, presenting opportunities for advertisers to establish a strong presence and build brand awareness.

Underlying macroeconomic factors: Vietnam has been experiencing strong economic growth in recent years, which has contributed to the expansion of the digital advertising market. As the economy continues to develop and the middle class expands, consumers have more disposable income to spend on products and services. This provides a favorable environment for advertisers to invest in digital banner advertising to reach these consumers and drive sales. In conclusion, the Digital Banner Advertising market in Vietnam is experiencing significant growth due to changing customer preferences, the rise of programmatic advertising, the increasing importance of mobile advertising, the young and dynamic population, and the strong macroeconomic factors. Advertisers in Vietnam are recognizing the opportunities in this market and are investing in digital banner advertising to effectively reach their target audience and drive business growth.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital banner advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers digital banner advertising on websites accessed via desktop PCs, on mobile-enabled websites, in apps, or on social media.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. 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, 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.