Key regions: India, Germany, China, United Kingdom, Australia
The SMS Advertising market in Kenya is experiencing steady growth and development due to various factors.
Customer preferences: Kenyan consumers have shown a growing preference for mobile advertising, particularly SMS advertising, as it provides a direct and personalized way for businesses to reach their target audience. SMS advertising allows companies to send promotional messages, discounts, and updates directly to consumers' mobile phones, which is highly convenient and accessible for the majority of the population. Additionally, SMS advertising has a high open rate, ensuring that the message reaches a large number of potential customers.
Trends in the market: One of the key trends in the SMS Advertising market in Kenya is the increasing use of mobile phones. Kenya has a high mobile phone penetration rate, with a significant portion of the population relying on mobile devices for communication and internet access. This widespread adoption of mobile phones has created a fertile ground for SMS advertising, as businesses can easily reach a large number of potential customers. Another trend in the market is the rise of mobile payment platforms. Kenya has been at the forefront of mobile money innovation, with services like M-Pesa gaining widespread popularity. This has led to an increase in mobile commerce activities, with consumers making purchases and payments through their mobile phones. SMS advertising can leverage this trend by including links or codes that allow customers to make instant purchases or avail of exclusive offers.
Local special circumstances: Kenya has a young and tech-savvy population, with a high percentage of the population under the age of 35. This demographic is highly receptive to mobile advertising and is more likely to engage with SMS promotions. Additionally, the rise of social media platforms in Kenya has created opportunities for businesses to integrate SMS advertising with their social media marketing strategies, further enhancing their reach and engagement with customers.
Underlying macroeconomic factors: Kenya's economy has been growing steadily, with increasing levels of disposable income among the population. This has resulted in a higher propensity for consumer spending, creating a favorable environment for businesses to invest in advertising and marketing initiatives. Furthermore, the government's efforts to improve infrastructure and expand access to the internet have contributed to the growth of the digital economy, including the SMS Advertising market. In conclusion, the SMS Advertising market in Kenya is thriving due to the preferences of customers for personalized and direct communication, the increasing use of mobile phones, the rise of mobile payment platforms, the young and tech-savvy population, and the favorable macroeconomic factors. As businesses continue to recognize the effectiveness of SMS advertising in reaching their target audience, the market is expected to witness further growth and innovation 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), 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.
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