Telemarketing - Ethiopia | Statista Market Forecast

Ad spending in Ethiopia's Telemarketing market is forecasted to reach US$664.40k in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 5.17%, leading to a projected market volume of US$898.90k by 2030.
When compared globally, the United States is expected to have the highest ad spending with US$4.62bn in 2024.
The average ad spending per capita in the Telemarketing market is projected to be US$0.01 in 2024.
Ethiopia's telemarketing sector in the advertising market is rapidly expanding, leveraging digital platforms to reach a growing consumer base effectively.

Definition:

Telemarketing refers to a type of advertising which allows for promoting products and services and conveying advertising messages through direct communication with potential customers via telephone calls. This market covers various ad spending associated with telemarketing.

Additional information:

Telemarketing comprises advertising spending and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

The advertising budget used for telemarketing advertisements
Software fees for creating and distributing telemarketing advertisements
Cellular fees

Service agencies
Consultant fees
Production costs
Design services

The Telemarketing Advertising market in Ethiopia is experiencing significant growth due to increasing customer preferences for personalized marketing, rising internet penetration, and favorable local special circumstances. Customer preferences in Ethiopia are shifting towards personalized marketing strategies, which has led to an increased demand for telemarketing advertising. Consumers are now seeking more customized and targeted advertising messages that resonate with their individual needs and preferences. Telemarketing allows companies to directly reach out to potential customers and tailor their messages to specific demographics, increasing the effectiveness of their marketing campaigns. Furthermore, the rapid growth of internet penetration in Ethiopia has also contributed to the development of the Telemarketing Advertising market. With more people gaining access to the internet, companies have a wider reach and can target a larger audience through online telemarketing campaigns. This has opened up new opportunities for businesses to promote their products and services, leading to an increase in demand for telemarketing advertising. In addition to customer preferences and internet penetration, Ethiopia's local special circumstances have also played a significant role in the growth of the Telemarketing Advertising market. The country has a large and growing population, providing a vast consumer base for businesses to target. Moreover, Ethiopia has a relatively young population, which is more receptive to new technologies and marketing strategies. This demographic advantage has created a favorable environment for the development of telemarketing advertising in the country. Underlying macroeconomic factors have also contributed to the growth of the Telemarketing Advertising market in Ethiopia. The country has been experiencing steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, businesses are investing more in marketing and advertising to capture the attention of the growing consumer market. Telemarketing advertising offers a cost-effective solution for companies to reach a large number of potential customers, making it an attractive option in the current economic climate. Overall, the Telemarketing Advertising market in Ethiopia is witnessing significant growth driven by customer preferences for personalized marketing, increasing internet penetration, favorable local special circumstances, and underlying macroeconomic factors. As businesses continue to recognize the benefits of telemarketing advertising, the market is expected to further expand in the coming years.

Data coverage:

The data encompasses B2B enterprises. Figures are based on Telemarketing Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for distributing advertisements via telemarketing.

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 users.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.