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SMS Advertising - Argentina

Argentina

Ad spending in the SMS Advertising market in Argentina is forecasted to reach US$2.22m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.66%, leading to an estimated market volume of US$2.41m by 2029.
When compared globally, the United States is expected to generate the highest ad spending (US$310.40m in 2024).
The average ad spending per capita in the SMS Advertising market is projected to be US$0.05 in 2024 in Argentina.
In Argentina, SMS Advertising is gaining traction due to its cost-effective nature and high engagement rates among the tech-savvy population.

Key regions: India, Germany, China, United Kingdom, Australia

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Analyst Opinion

The SMS Advertising market in Argentina is experiencing significant growth and development in recent years.

Customer preferences: Customers in Argentina have shown a strong preference for SMS advertising due to its convenience and effectiveness. SMS messages have a high open and read rate, making it an ideal channel for businesses to reach their target audience. Additionally, SMS advertising allows for personalized and targeted messaging, which resonates well with consumers in Argentina.

Trends in the market: One of the key trends in the SMS Advertising market in Argentina is the increasing adoption of mobile devices. Argentina has a high mobile penetration rate, with a large percentage of the population owning smartphones. This has created a favorable environment for SMS advertising, as businesses can easily reach a wide audience through mobile devices. Furthermore, the rise of mobile apps and social media platforms has also contributed to the growth of SMS advertising, as businesses can leverage these platforms to promote their SMS campaigns and engage with their target audience. Another trend in the SMS Advertising market in Argentina is the integration of SMS with other marketing channels. Businesses are increasingly using SMS as part of their omni-channel marketing strategies, combining it with email marketing, social media advertising, and other digital marketing channels. This integration allows for a more cohesive and effective marketing approach, as businesses can reach their target audience through multiple touchpoints.

Local special circumstances: Argentina has a strong culture of mobile phone usage, with a large percentage of the population relying on their mobile devices for communication and internet access. This cultural preference for mobile devices has created a fertile ground for SMS advertising to thrive. Additionally, the affordability of SMS messaging in Argentina has also contributed to its popularity among businesses and consumers.

Underlying macroeconomic factors: The growth of the SMS Advertising market in Argentina can also be attributed to favorable macroeconomic factors. Despite facing economic challenges in recent years, Argentina has seen steady economic growth and a rise in consumer spending. This has created a conducive environment for businesses to invest in marketing and advertising, including SMS advertising. Furthermore, the increasing digitalization of the economy and the government's efforts to promote digital innovation have also played a role in driving the growth of the SMS Advertising market in Argentina. In conclusion, the SMS Advertising market in Argentina is experiencing significant growth and development due to customer preferences for convenience and effectiveness, the increasing adoption of mobile devices, the integration of SMS with other marketing channels, local special circumstances such as a strong culture of mobile phone usage, and favorable macroeconomic factors. As businesses continue to recognize the benefits of SMS advertising and consumers embrace mobile technology, the SMS Advertising market in Argentina is expected to continue its upward trajectory.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on SMS Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for creating and sending SMS 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), 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 Consumer Insightsis reweighted for representativeness.