Key regions: India, Germany, China, United Kingdom, Australia
The SMS Advertising market in Ghana is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Ghana are shifting towards mobile advertising due to the increasing penetration of smartphones and mobile internet. With a large portion of the population owning smartphones, people are becoming more reliant on their mobile devices for communication, information, and entertainment. This has created a lucrative opportunity for advertisers to reach their target audience through SMS advertising. Additionally, customers in Ghana are generally receptive to SMS advertising as it provides a convenient and non-intrusive way to receive promotional messages. Trends in the market indicate that SMS advertising is becoming an increasingly popular marketing channel for businesses in Ghana. This can be attributed to the cost-effectiveness and high reach of SMS campaigns. Compared to traditional forms of advertising such as TV or print media, SMS advertising offers a more affordable option for businesses, especially small and medium-sized enterprises. Furthermore, SMS campaigns have a higher open rate compared to email marketing, ensuring that messages are more likely to be seen by the target audience. Local special circumstances in Ghana also contribute to the growth of the SMS Advertising market. For instance, the lack of reliable internet connectivity in certain areas makes SMS advertising a more viable option for businesses to reach customers. Additionally, Ghana has a young and tech-savvy population, which further drives the demand for mobile advertising. Younger consumers are more likely to engage with SMS advertisements and are receptive to promotional offers sent via text messages. Underlying macroeconomic factors in Ghana, such as a growing economy and increasing disposable income, also play a role in the development of the SMS Advertising market. As the economy grows, businesses have more resources to invest in marketing and advertising activities, including SMS campaigns. Moreover, the rising disposable income of consumers allows them to spend more on products and services, making it attractive for businesses to promote their offerings through SMS advertising. In conclusion, the SMS Advertising market in Ghana is witnessing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As mobile usage continues to rise and businesses recognize the effectiveness of SMS advertising, this market is expected to continue expanding in the coming years.
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.
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