Telemarketing - South Korea

South Korea

Highlights

Ad spending in the Telemarketing market in South Korea is forecasted to reach US$198.70m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of -0.81%, leading to an estimated market volume of US$189.20m by 2030.
When compared globally, the United States is expected to generate 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$3.84 in 2024.
In South Korea, the Telemarketing sector in the Advertising market is witnessing a shift towards personalized customer interactions for enhanced brand engagement.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Telemarketing Advertising market in South Korea has been experiencing significant growth in recent years.

Customer preferences: South Korean consumers have shown a strong preference for personalized and targeted advertising. They appreciate receiving relevant offers and promotions that cater to their specific needs and interests. Telemarketing advertising allows companies to directly reach out to potential customers and tailor their messages based on their preferences. This personalized approach has resonated well with South Korean consumers, leading to increased engagement and conversion rates.

Trends in the market: One of the key trends in the Telemarketing Advertising market in South Korea is the adoption of advanced technologies. Companies are leveraging artificial intelligence and machine learning to analyze customer data and generate insights that can be used to create more targeted and effective telemarketing campaigns. These technologies enable companies to identify patterns and trends in consumer behavior, allowing them to deliver personalized messages and offers to the right audience at the right time. Another trend in the market is the integration of telemarketing advertising with other digital marketing channels. Companies are increasingly using telemarketing as part of a multi-channel marketing strategy, combining it with email marketing, social media advertising, and other digital channels. This integrated approach allows companies to reach a wider audience and maximize the impact of their marketing efforts.

Local special circumstances: South Korea has a highly connected population with a high smartphone penetration rate. This makes it easier for companies to reach consumers through telemarketing advertising. Additionally, South Korean consumers are known for their willingness to try new products and services, making them receptive to telemarketing offers.

Underlying macroeconomic factors: The Telemarketing Advertising market in South Korea is also influenced by macroeconomic factors. The country has a strong economy and a high level of disposable income, which allows consumers to spend on products and services. This creates a favorable environment for companies to invest in telemarketing advertising and reach potential customers. In conclusion, the Telemarketing Advertising market in South Korea is growing due to customer preferences for personalized advertising, the adoption of advanced technologies, and the integration of telemarketing with other digital marketing channels. The local special circumstances, such as a highly connected population and consumer willingness to try new products, further contribute to the growth of the market. The underlying macroeconomic factors, including a strong economy and high disposable income, create a favorable environment for companies to invest in telemarketing advertising.

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.