SMS Advertising - Greece

Greece

Highlights

Ad spending in the SMS Advertising market in Greece is forecasted to reach US$1.20m in 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2030) of 0.18%, leading to a projected market volume of US$1.21m by 2030.
When 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$0.12 in 2024.
Greece's SMS advertising market is experiencing a surge in demand due to its cost-effectiveness and high engagement rates among the tech-savvy population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Greeks have shown a strong preference for mobile communication, with a high percentage of the population owning smartphones and regularly using messaging apps. This has created a favorable environment for SMS Advertising, as it allows businesses to reach their target audience directly on their mobile devices. Additionally, Greeks are increasingly open to receiving promotional messages via SMS, as long as they are relevant and offer value.

Trends in the market: One of the key trends in the SMS Advertising market in Greece is the increasing adoption of personalized and targeted messaging. Businesses are recognizing the importance of tailoring their messages to the specific needs and interests of their customers in order to maximize engagement and conversion rates. This trend is driven by advancements in data analytics and segmentation techniques, which allow businesses to gain deeper insights into their customers and deliver more relevant and timely messages. Another trend in the market is the integration of SMS Advertising with other marketing channels. Businesses are realizing the importance of a multi-channel approach, where SMS messages are used in conjunction with email marketing, social media advertising, and other digital marketing strategies. This integration allows businesses to create a cohesive and consistent brand experience across different touchpoints, increasing the effectiveness of their marketing efforts.

Local special circumstances: Greece has a large tourism industry, attracting millions of visitors each year. This presents a unique opportunity for businesses to leverage SMS Advertising to reach tourists and promote their products or services. SMS messages can be used to provide information about local attractions, special offers, and events, helping businesses to capture the attention of tourists and drive sales.

Underlying macroeconomic factors: The Greek economy has been recovering from a prolonged period of economic instability, which has led to increased consumer confidence and spending. As a result, businesses are investing more in marketing and advertising to capitalize on the growing demand. SMS Advertising offers a cost-effective and efficient way for businesses to reach their target audience, making it an attractive option in the current economic climate. In conclusion, the SMS Advertising market in Greece is thriving due to customer preferences for mobile communication, the adoption of personalized and targeted messaging, the integration of SMS Advertising with other marketing channels, the opportunities presented by the tourism industry, and the overall improvement in the Greek economy. These factors are driving the growth of the market and creating new opportunities for businesses to connect with their customers.

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.