Market Insights Advertising & Media Advertising Direct Messaging Advertising

SMS Advertising - Bangladesh

Bangladesh

Ad spending in the SMS Advertising market in Bangladesh is forecasted to reach US$0.35m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.71%, leading to a projected market volume of US$0.40m 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$0.00 in 2024.
Bangladesh's SMS Advertising market is rapidly growing, leveraging the country's high mobile phone penetration for targeted and cost-effective marketing strategies.

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

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Analyst Opinion

The SMS Advertising market in Bangladesh has been experiencing significant growth in recent years.

Customer preferences: Bangladesh has a large population of mobile phone users, with a high penetration rate of mobile phones. This has created a favorable environment for SMS Advertising, as it allows businesses to reach a wide audience. Additionally, SMS Advertising is cost-effective and provides a direct and personal communication channel, which appeals to customers who prefer personalized marketing messages.

Trends in the market: One of the key trends in the SMS Advertising market in Bangladesh is the increasing use of SMS for promotional purposes. Businesses are recognizing the effectiveness of SMS Advertising in reaching their target audience and driving sales. As a result, they are allocating more resources towards SMS Advertising campaigns. Furthermore, there is a growing trend of integrating SMS Advertising with other marketing channels, such as social media and email marketing, to create a cohesive and comprehensive marketing strategy.

Local special circumstances: Bangladesh has a large population of young people who are tech-savvy and highly engaged with their mobile devices. This demographic is particularly receptive to SMS Advertising and is more likely to respond to promotional messages. Additionally, the rise of digital payment platforms in Bangladesh has made it easier for businesses to monetize SMS Advertising by including payment links or codes in their messages.

Underlying macroeconomic factors: The economic growth of Bangladesh has contributed to the development of the SMS Advertising market. As the country's economy grows, businesses are looking for more effective ways to reach their target audience and promote their products or services. SMS Advertising provides a cost-effective solution for businesses to reach a large number of potential customers. In conclusion, the SMS Advertising market in Bangladesh is growing due to customer preferences for personalized and direct marketing messages, the increasing use of SMS for promotional purposes, the tech-savvy and engaged population, and the economic growth of the country. This market is expected to continue to expand as businesses recognize the effectiveness of SMS Advertising in reaching their target audience and driving sales.

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 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.