E-mail Advertising - South Korea

South Korea

Highlights

Ad spending in the E-mail Advertising market in South Korea is forecasted to reach US$145.30m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 2.86%, leading to a projected market volume of US$172.10m by 2030.
When compared globally, the United States is expected to generate the highest ad spending (US$3.40bn in 2024).
The average ad spending per internet user in the E-mail Advertising market in South Korea is projected to be US$3.04 in 2024.
South Korea's email advertising market is rapidly growing, with a focus on personalized content to engage tech-savvy consumers effectively.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Email Advertising market in South Korea has been experiencing significant growth in recent years.

Customer preferences: South Korean consumers have shown a strong preference for digital communication channels, including email. Email is widely used for personal and professional communication, making it an effective platform for advertising. Additionally, South Korean consumers are known to be tech-savvy and receptive to digital advertising, making email advertising an attractive option for marketers.

Trends in the market: One of the key trends in the Email Advertising market in South Korea is the increasing adoption of mobile devices. South Korea has one of the highest smartphone penetration rates in the world, and consumers are increasingly accessing their emails on their mobile devices. This trend has led to a shift in email advertising strategies, with marketers focusing on creating mobile-friendly email campaigns that are optimized for smaller screens. Another trend in the market is the growing importance of personalization. South Korean consumers expect personalized experiences and are more likely to engage with email campaigns that are tailored to their individual preferences and needs. Marketers are leveraging data analytics and segmentation techniques to deliver highly targeted and personalized email advertisements to their customers.

Local special circumstances: One of the unique aspects of the South Korean market is the dominance of local email service providers. While global email providers like Gmail and Yahoo Mail are popular worldwide, South Korean consumers primarily use local email services such as Naver and Daum. These local providers have their own advertising platforms, which offer unique opportunities for marketers to reach the South Korean audience.

Underlying macroeconomic factors: South Korea has a strong and advanced digital infrastructure, which has contributed to the growth of the Email Advertising market. The country has one of the highest internet penetration rates in the world, with a large percentage of the population having access to high-speed internet. This widespread internet connectivity has created a conducive environment for email advertising to thrive. Additionally, South Korea has a highly developed e-commerce sector, with a large number of online retailers and a high level of online shopping activity. Email advertising plays a crucial role in driving traffic to e-commerce websites and promoting online sales. The growth of the e-commerce sector has further fueled the demand for email advertising in South Korea. In conclusion, the Email Advertising market in South Korea is experiencing significant growth due to customer preferences for digital communication channels, the increasing adoption of mobile devices, the importance of personalization, the dominance of local email service providers, and the underlying macroeconomic factors such as a strong digital infrastructure and a thriving e-commerce sector. Marketers in South Korea are leveraging these trends and special circumstances to effectively reach and engage with the South Korean audience through email advertising.

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.