E-mail Advertising - Nordics | Statista Market Forecast

Ad spending in the E-mail Advertising market in the Nordics is forecasted to reach US$236.40m in 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2030) of 3.10%, leading to a projected market volume of US$284.00m by 2030.
When compared globally, the United States will generate the highest ad spending (US$3.40bn in 2024).
The average ad spending per internet user in the E-mail Advertising market is projected to be US$9.21 in 2024.
In the Nordics, E-mail Advertising is increasingly personalized to cater to the tech-savvy and environmentally conscious consumer base.

Definition:

E-mail Advertising spending refers to the advertising budget allocated by advertisers to their e-mail marketing campaigns, specifically focusing on the budget for the creation and distribution of e-mail advertisements.

Additional information:

E-mail Advertising comprises advertising spending and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes. In scope: |The advertising budget used for e-mail advertisements |Software fees for creating and sending e-mail advertisements

The advertising budget used for e-mail advertisements
Software fees for creating and sending e-mail advertisements

Service agencies
Consultant fees
Production costs
Design services

The Email Advertising market in Nordics has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of digital marketing strategies. Customer preferences in the Nordics have shifted towards digital channels, as consumers increasingly rely on email for communication and information. Email is seen as a convenient and efficient way to receive personalized messages and offers from brands. Additionally, the rise of mobile devices has made it easier for consumers to access their emails on the go, further fueling the demand for email advertising. Trends in the market indicate that businesses in the Nordics are recognizing the potential of email advertising as an effective marketing tool. They are investing more resources in email marketing campaigns to reach their target audience and drive engagement. This is evident in the growing number of companies adopting email marketing automation platforms to streamline their campaigns and deliver more personalized content to their customers. Local special circumstances in the Nordics also contribute to the development of the Email Advertising market. The region has a high internet penetration rate, with a large proportion of the population having access to the internet. This provides a fertile ground for email advertising, as businesses can reach a wide audience through this channel. Additionally, the Nordics have a strong culture of data privacy and protection, which has led to stricter regulations on email marketing practices. This has resulted in more transparent and permission-based email advertising campaigns, which are well-received by consumers. Underlying macroeconomic factors further support the growth of the Email Advertising market in the Nordics. The region has a stable and prosperous economy, with high levels of disposable income. This enables consumers to engage in online shopping and respond to email marketing campaigns. Furthermore, businesses in the Nordics are known for their innovation and technological advancements, which have facilitated the adoption of email advertising as a key marketing strategy. In conclusion, the Email Advertising market in the Nordics is developing rapidly due to changing customer preferences, increasing digitalization, and favorable local circumstances. Businesses are recognizing the effectiveness of email advertising and are investing more resources in this channel to engage with their target audience. With the region's strong economy and technological advancements, the Email Advertising market in the Nordics is expected to continue its growth trajectory in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.