E-mail Advertising - Vietnam

Vietnam

Highlights

Ad spending in the E-mail Advertising market in Vietnam is forecasted to reach US$36.30m in 2024.
The expected annual growth rate (CAGR 2024-2030) is 4.55%, leading to a projected market volume of US$47.41m by 2030.
When compared globally, the United States will generate the most 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$0.42 in 2024.
Vietnam's E-mail Advertising market is experiencing rapid growth, driven by the country's increasing digital literacy and expanding internet penetration.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Email Advertising market in Vietnam has experienced significant growth in recent years, driven by customer preferences for targeted and personalized marketing campaigns, as well as the increasing adoption of email as a preferred communication channel.

Customer preferences: Vietnamese customers have shown a growing preference for targeted and personalized marketing campaigns. They are more likely to engage with advertisements that are relevant to their interests and needs. Email advertising allows companies to segment their customer base and deliver tailored messages, increasing the likelihood of customer engagement and conversion. Additionally, customers appreciate the convenience of receiving promotional offers and updates directly in their email inbox, as it allows them to easily access and revisit the information at their own convenience.

Trends in the market: One of the key trends in the Email Advertising market in Vietnam is the increasing use of automation and artificial intelligence (AI) technologies. Companies are leveraging these technologies to streamline their email marketing processes, from segmenting the customer base to creating personalized content. Automation allows for more efficient and effective email campaigns, as it reduces manual labor and ensures timely delivery of messages. AI, on the other hand, enables companies to analyze customer data and behavior to further personalize email content, increasing the chances of customer engagement and conversion. Another trend in the market is the rise of mobile email advertising. With the increasing penetration of smartphones in Vietnam, more and more people are accessing their emails on mobile devices. This has led to a shift in email design and optimization, as companies need to ensure that their emails are mobile-friendly and visually appealing on smaller screens. Mobile email advertising also opens up new opportunities for location-based targeting and real-time promotions, as companies can leverage GPS data and push notifications to deliver relevant offers to customers based on their current location.

Local special circumstances: Vietnam has a rapidly growing middle class with increasing purchasing power. This presents a significant opportunity for businesses to tap into the Email Advertising market and target this expanding consumer segment. Additionally, the country has a high internet penetration rate, with a large portion of the population having access to the internet. This provides a favorable environment for email advertising, as companies can reach a wide audience through this digital channel.

Underlying macroeconomic factors: Vietnam has been experiencing steady economic growth in recent years, with a growing GDP and increasing consumer spending. This positive economic outlook creates a conducive environment for businesses to invest in marketing and advertising, including email advertising. Additionally, the government has been actively promoting digitalization and e-commerce, which further supports the growth of the Email Advertising market in Vietnam.

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.