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SMS Advertising - Croatia

Croatia

Ad spending in the SMS Advertising market in Croatia is forecasted to reach US$281.40k in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.89%, leading to a projected market volume of US$309.00k 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$0.07 in Croatia in 2024.
In Croatia, SMS Advertising is gaining traction among businesses due to its cost-effectiveness and high engagement rates in the competitive advertising market.

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

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Analyst Opinion

The SMS Advertising market in Croatia is experiencing steady growth and development.

Customer preferences: Customers in Croatia have shown a preference for SMS advertising due to its convenience and effectiveness. SMS messages are easily accessible on mobile devices, which are widely used in the country. Additionally, SMS advertising allows for personalized and targeted messaging, which resonates well with consumers.

Trends in the market: One of the key trends in the SMS Advertising market in Croatia is the increasing adoption of mobile marketing strategies by businesses. As more companies recognize the potential of SMS advertising to reach their target audience, they are incorporating it into their overall marketing campaigns. This trend is driven by the growing smartphone penetration rate in the country, as well as the increasing reliance on mobile devices for communication and information. Another trend in the market is the use of SMS advertising for customer engagement and loyalty programs. Businesses are leveraging SMS messages to deliver exclusive offers, discounts, and rewards to their customers. This not only helps in building customer loyalty but also encourages repeat purchases and drives sales.

Local special circumstances: Croatia has a relatively high mobile phone penetration rate, with a large portion of the population owning and using smartphones. This presents a significant opportunity for SMS advertising as it allows businesses to directly reach a wide audience. Furthermore, the country has a strong culture of mobile communication, with people relying heavily on their mobile devices for everyday tasks such as messaging, browsing the internet, and accessing social media platforms. This makes SMS advertising a natural fit for the market.

Underlying macroeconomic factors: The stable economic growth in Croatia has contributed to the development of the SMS Advertising market. With a growing economy, businesses have more resources to invest in marketing and advertising strategies, including SMS advertising. Additionally, the increasing disposable income of consumers enables them to engage with and respond to SMS advertisements. In conclusion, the SMS Advertising market in Croatia is witnessing growth and development due to customer preferences for convenience and personalized messaging, as well as the increasing adoption of mobile marketing strategies by businesses. The local special circumstances, such as high mobile phone penetration and a culture of mobile communication, further contribute to the market's growth. Additionally, the stable macroeconomic factors in the country support the development of the SMS Advertising market.

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.