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E-mail Advertising - Armenia

Armenia

Armenia's ad spending in the E-mail Advertising market is forecasted to reach US$2.59m by 2024.
The market is expected to display a compound annual growth rate (CAGR 2024-2029) of -0.78%, leading to a projected market volume of US$2.49m by 2029.
When compared globally, the United States will generate the highest ad spending (US$3,396.00m in 2024).
The projected average ad spending per internet user in the E-mail Advertising market is US$1.13 in 2024.
Armenia's E-mail Advertising market is witnessing a surge in personalized campaigns to target niche audiences, maximizing engagement and conversion rates.

Key regions: Japan, Germany, United States, Europe, Asia

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Analyst Opinion

The Email Advertising market in Armenia is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Armenia are shifting towards digital channels, including email, for advertising and communication purposes. As internet penetration continues to increase in the country, more people are relying on email as a primary means of communication. This shift in customer preferences is driving the demand for email advertising services. Trends in the market also indicate a growing demand for email advertising in Armenia. Businesses are increasingly recognizing the effectiveness of email marketing campaigns in reaching their target audience. Email advertising allows for personalized and targeted messaging, which can result in higher conversion rates and return on investment. As a result, businesses in Armenia are investing more in email advertising to enhance their marketing strategies. One of the local special circumstances that is contributing to the growth of the Email Advertising market in Armenia is the country's small population size. With a population of around 3 million people, businesses in Armenia have a relatively small target market. Email advertising provides a cost-effective way for businesses to reach their target audience and maximize their marketing efforts. Underlying macroeconomic factors also play a role in the development of the Email Advertising market in Armenia. The country's economy has been steadily growing in recent years, leading to increased consumer spending power. As a result, businesses are investing more in advertising and marketing to capitalize on the growing consumer market. Email advertising offers a cost-effective and efficient way for businesses to reach consumers and promote their products or services. Overall, the Email Advertising market in Armenia is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As businesses continue to recognize the effectiveness of email advertising and the potential for reaching their target audience, the market is expected to further expand in the coming years.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on E-mail Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for creating and sending e-mail advertisements.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet coverage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, 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. The main drivers are GDP per capita, consumer spending per capita, and internet coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. 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). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.