Instant Messaging Advertising - Serbia

Serbia

Highlights

Ad spending in the Instant Messaging Advertising market in Serbia is forecasted to reach US$67.24k in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 1.91%, leading to a projected market volume of US$75.31k by 2030.
When compared globally, the majority of ad spending will be generated the United States (US$74.28m in 2024).
The average ad spending per internet user in the Instant Messaging Advertising market is projected to be US$0.01 in 2024.
In Serbia, the Instant Messaging Advertising market is rapidly expanding, with businesses leveraging popular platforms to reach a tech-savvy audience effectively.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Instant Messaging Advertising market in Serbia has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of instant messaging platforms.

Customer preferences: Serbian customers have shown a strong preference for instant messaging as a means of communication, with a large percentage of the population using messaging apps on a daily basis. This has created a valuable opportunity for advertisers to reach a wide audience through these platforms.

Trends in the market: One of the key trends in the Serbian Instant Messaging Advertising market is the shift towards personalized and targeted advertising. Advertisers are increasingly using data analytics and machine learning algorithms to analyze user behavior and deliver highly relevant and personalized ads. This trend is driven by the growing demand for personalized experiences among Serbian consumers, who are more likely to engage with ads that are tailored to their interests and preferences. Another trend in the market is the integration of e-commerce functionalities within instant messaging platforms. This allows users to make purchases directly within the app, without the need to switch to a separate website or application. This trend is driven by the convenience and ease of use offered by instant messaging platforms, as well as the increasing popularity of online shopping in Serbia.

Local special circumstances: Serbia has a young and tech-savvy population, with a high level of smartphone penetration. This has contributed to the rapid adoption of instant messaging platforms in the country. Serbian consumers are increasingly using messaging apps not only for communication, but also for a wide range of activities such as shopping, banking, and entertainment. This presents a unique opportunity for advertisers to engage with consumers in a highly interactive and personalized way.

Underlying macroeconomic factors: The growth of the Instant Messaging Advertising market in Serbia is also influenced by underlying macroeconomic factors. Serbia has experienced steady economic growth in recent years, with rising incomes and increasing consumer spending. This has created a favorable environment for advertisers, as consumers have more disposable income to spend on products and services. Additionally, the Serbian government has been actively promoting digitalization and innovation, which has further supported the growth of the instant messaging advertising market. In conclusion, the Instant Messaging Advertising market in Serbia is growing rapidly, driven by changing customer preferences, the integration of e-commerce functionalities, and the underlying macroeconomic factors. Advertisers in Serbia are increasingly focusing on personalized and targeted advertising, as well as leveraging the popularity of instant messaging platforms to reach a wide audience. With the young and tech-savvy population and the government's support for digitalization, the future of the Instant Messaging Advertising market in Serbia looks promising.

Data coverage:

The data encompasses B2B enterprises. Figures are based on Instant Messaging Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for distributing instant messaging 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 users.

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.