SMS Advertising - Vietnam

Vietnam

Highlights

Ad spending in the SMS Advertising market in Vietnam is forecasted to reach US$1.84m in 2024.
The expected annual growth rate (CAGR 2024-2030) is 1.98%, leading to a projected market volume of US$2.07m by 2030.
When compared globally, the United States will generate the highest ad spending (US$310.40m in 2024).
The projected average ad spending per capita in the SMS Advertising market is US$0.02 in 2024.
Vietnam's SMS Advertising market is rapidly growing, with businesses leveraging the high mobile penetration rate to reach consumers effectively.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The SMS Advertising market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Vietnamese customers have shown a strong preference for mobile communication, with smartphones becoming increasingly popular in the country. This has led to a shift in advertising strategies, with businesses recognizing the potential of SMS advertising to reach a wide audience. SMS advertising allows companies to directly engage with customers on their mobile devices, providing a convenient and personalized form of communication.

Trends in the market: One of the key trends in the SMS advertising market in Vietnam is the increasing use of targeted and personalized messaging. Businesses are utilizing customer data and analytics to send SMS messages that are tailored to individual preferences and behaviors. This approach not only improves the effectiveness of the advertising campaign but also enhances the customer experience by providing relevant and timely information. Another trend in the market is the integration of SMS advertising with other digital marketing channels. Companies are leveraging SMS campaigns to drive traffic to their websites or social media platforms, creating a seamless customer journey across different channels. This integration allows businesses to maximize their reach and engagement, ensuring that their advertising efforts are cohesive and impactful.

Local special circumstances: Vietnam has a large and growing population, with a significant portion of the population being young and tech-savvy. This demographic profile presents a unique opportunity for SMS advertising, as the majority of the population is reachable through mobile devices. Additionally, the high mobile penetration rate in Vietnam further supports the growth of SMS advertising, as it allows businesses to reach a large audience.

Underlying macroeconomic factors: The growing economy of Vietnam has also contributed to the development of the SMS advertising market. As the country experiences economic growth, businesses are investing more in advertising to capture the attention of consumers. SMS advertising provides a cost-effective and efficient way for businesses to reach their target audience, making it an attractive option in the competitive market. In conclusion, the SMS advertising market in Vietnam is growing due to changing customer preferences, such as the increasing use of mobile devices, as well as local special circumstances, such as the young and tech-savvy population. The market is also influenced by the integration of SMS advertising with other digital marketing channels and the overall economic growth of Vietnam. These factors collectively contribute to the development and expansion of the SMS advertising market in Vietnam.

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.