SMS Advertising - Peru

Peru

Highlights

Ad spending in the SMS Advertising market in Peru is forecasted to reach US$803.00k in 2024.
The market is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 1.50%, leading to a projected market volume of US$877.90k by 2030.
When compared globally, the United States will contribute the most to ad spending, reaching US$310.40m in 2024.
The average ad spending per capita in the SMS Advertising market in Peru is estimated to be US$0.02 in 2024.
Peru's SMS Advertising market is booming, with companies leveraging targeted campaigns to reach a mobile-savvy population effectively.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The SMS Advertising market in Peru is experiencing significant growth and development.

Customer preferences: Peruvian consumers have shown a strong preference for mobile communication, making SMS advertising an effective and popular marketing channel. With the increasing penetration of smartphones and the affordability of mobile data, Peruvians are using their mobile devices for various activities, including receiving and sending text messages. This preference for mobile communication has created a fertile ground for SMS advertising to thrive.

Trends in the market: One of the key trends in the SMS Advertising market in Peru is the increasing adoption of SMS campaigns by businesses across various industries. Companies are recognizing the potential of SMS advertising to reach a wide audience and deliver targeted messages. This trend is driven by the high open and response rates of SMS messages, as well as the ability to personalize and customize the content. Additionally, businesses are leveraging SMS advertising to promote special offers, discounts, and loyalty programs, which resonate well with Peruvian consumers. Another trend in the market is the integration of SMS advertising with other marketing channels. Companies are combining SMS campaigns with social media, email marketing, and mobile apps to create a seamless and integrated customer experience. This multi-channel approach allows businesses to engage with consumers at different touchpoints and reinforce their marketing messages. Furthermore, the integration of SMS advertising with other channels enables companies to track and analyze customer behavior, leading to more targeted and effective campaigns.

Local special circumstances: Peru has a rapidly growing middle class, which is driving consumer spending and creating opportunities for businesses to expand their customer base. This expanding middle class is increasingly connected and reliant on mobile devices, making SMS advertising a powerful tool to reach this segment of the population. Furthermore, Peru has a high mobile phone penetration rate, with a large portion of the population owning a mobile device. This widespread adoption of mobile technology provides a favorable environment for SMS advertising to thrive.

Underlying macroeconomic factors: Peru has experienced steady economic growth in recent years, which has contributed to the increasing purchasing power of consumers. This economic stability has created a favorable environment for businesses to invest in marketing and advertising activities, including SMS advertising. Additionally, the government has implemented policies to promote entrepreneurship and attract foreign investment, further stimulating business activity in the country. These macroeconomic factors have provided a solid foundation for the growth and development of the SMS Advertising market in Peru.

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.