Market Insights Advertising & Media Advertising

Direct Messaging Advertising - Ghana

Ghana

Ad spending in the Direct Messaging Advertising market in Ghana is forecasted to reach US$21.10m in 2024.
The annual growth rate (CAGR 2024-2029) is expected to be -0.49%, leading to a projected market volume of US$20.59m by 2029.
Direct Mail Advertising holds the largest market share in Ghana, with a volume of US$13.81m in 2024.
When compared globally, the United States is expected to generate the highest ad spending, reaching US$29,980.00m in 2024.
The average ad spending per capita in the Direct Messaging Advertising market in Ghana is projected to be US$0.61 in 2024.
In Ghana, Direct Messaging Advertising is increasingly utilized due to the high mobile phone penetration and active social media presence among the population.

Key regions: India, Germany, France, China, Australia

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Analyst Opinion

The Direct Messaging Advertising market in Ghana is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Ghana are increasingly turning to direct messaging platforms as a means of communication, which has led to a rise in the popularity of Direct Messaging Advertising. This is driven by the convenience and immediacy of direct messaging, as well as the ability to reach a large and diverse audience. Additionally, customers in Ghana are becoming more receptive to targeted advertising, as they appreciate receiving personalized messages that are relevant to their interests and needs.

Trends in the market: One of the key trends in the Direct Messaging Advertising market in Ghana is the increasing use of chatbots. Chatbots are automated messaging systems that can interact with customers in a conversational manner. They are being used by businesses in Ghana to provide customer support, answer queries, and even make sales. This trend is driven by advancements in artificial intelligence and natural language processing, which have made chatbots more intelligent and capable of understanding and responding to customer inquiries. Another trend in the market is the integration of e-commerce within direct messaging platforms. Businesses in Ghana are leveraging direct messaging platforms to not only advertise their products and services, but also to facilitate transactions. This trend is driven by the growing popularity of online shopping in Ghana, as well as the convenience and ease of purchasing products directly within a messaging app.

Local special circumstances: Ghana has a young and tech-savvy population, with a high penetration of smartphones and internet connectivity. This makes direct messaging platforms an ideal channel for reaching and engaging with customers. Additionally, Ghana has a vibrant and growing startup ecosystem, with many local businesses embracing innovative marketing strategies, including Direct Messaging Advertising, to stand out in a competitive market.

Underlying macroeconomic factors: The Ghanaian economy has been experiencing steady economic growth in recent years, which has led to an increase in consumer spending power. This has created opportunities for businesses to invest in advertising and marketing, including Direct Messaging Advertising, to reach and attract customers. Furthermore, the government of Ghana has been implementing initiatives to promote digitalization and entrepreneurship, which has created a favorable environment for businesses to leverage direct messaging platforms for advertising purposes.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on Direct Messaging Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses via e-mail, SMS, direct mail, messengers, web push, telemarketing, and instant messaging.

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, number of smartphone users, internet coverage, and number of urban households. 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 4G 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.