SMS Advertising - Baltics

Baltics

Highlights

Ad spending in the SMS Advertising market in Baltics is forecasted to reach US$590.70k in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 0.67%, leading to a projected market volume of US$614.80k by 2030.
Compared globally, the United States will 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$0.10 in 2024.
In the Baltics, SMS Advertising is gaining traction as businesses capitalize on the region's high mobile phone penetration for targeted marketing campaigns.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The SMS Advertising market in Baltics has been experiencing significant growth in recent years. Customer preferences have shifted towards mobile advertising, leading to an increased demand for SMS advertising services. This trend can be attributed to the widespread use of smartphones and the convenience they offer in accessing information on the go. Additionally, the affordability of SMS advertising compared to other forms of advertising has made it an attractive option for businesses in the region.

Customer preferences: Customers in the Baltics have shown a strong preference for mobile advertising, particularly SMS advertising. This can be attributed to the high mobile penetration rate in the region, with a large percentage of the population owning smartphones. The convenience of receiving promotional messages directly on their mobile devices has made SMS advertising an effective way for businesses to reach their target audience. Additionally, customers appreciate the personalized nature of SMS advertising, as it allows them to receive offers and promotions that are relevant to their interests and preferences.

Trends in the market: One of the key trends in the SMS Advertising market in Baltics is the increasing use of SMS campaigns by businesses of all sizes. This trend can be attributed to the effectiveness of SMS advertising in reaching a wide audience in a cost-effective manner. Businesses are leveraging SMS campaigns to promote their products and services, announce special offers, and engage with their customers. The use of SMS advertising has also been driven by the rise of mobile commerce, with businesses using SMS to drive traffic to their mobile websites and apps. Another trend in the market is the integration of SMS advertising with other marketing channels. Businesses are recognizing the importance of a multi-channel marketing approach and are incorporating SMS advertising into their overall marketing strategies. This integration allows businesses to reach their target audience through multiple touchpoints, increasing the effectiveness of their marketing campaigns.

Local special circumstances: The Baltics region is known for its high mobile penetration rate, with a significant percentage of the population owning smartphones. This has created a favorable environment for SMS advertising to thrive. Additionally, the region has a young and tech-savvy population that is highly receptive to mobile advertising. This demographic is more likely to engage with SMS advertising and take advantage of the offers and promotions they receive.

Underlying macroeconomic factors: The strong economic growth in the Baltics has contributed to the development of the SMS Advertising market. As the economy has grown, businesses have increased their marketing budgets, leading to a higher demand for advertising services, including SMS advertising. Additionally, the region's favorable business environment and supportive government policies have encouraged entrepreneurship and business growth, further driving the demand for SMS advertising services. In conclusion, the SMS Advertising market in Baltics has been growing rapidly due to customer preferences for mobile advertising, the affordability of SMS advertising, and the integration of SMS campaigns with other marketing channels. The region's high mobile penetration rate, young population, and strong economic growth have created a favorable environment for the development of the SMS Advertising market.

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 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.