Market Insights Advertising & Media Advertising Direct Messaging Advertising

Web Push Advertising - Hong Kong

Hong Kong

Ad spending in the Web Push Advertising market in Hong Kong is forecasted to reach US$8.85m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.64%, leading to a projected market volume of US$10.08m by 2029.
When compared globally, the United States is expected to generate the highest ad spending (US$1,206.00m in 2024).
The average ad spending per internet user in the Web Push Advertising market is projected to be US$1.22 in 2024.
Hong Kong's growing digital landscape sees a surge in Web Push Advertising, leveraging its tech-savvy population for targeted marketing strategies.

Key regions: China, Australia, Germany, United Kingdom, France

Market

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Analyst Opinion

The Web Push Advertising market in Hong Kong has been experiencing steady growth in recent years.

Customer preferences: In today's digital age, consumers are increasingly relying on their mobile devices for information and entertainment. This has led to a shift in advertising strategies, with more businesses turning to web push advertising to reach their target audience. Web push advertising allows companies to send real-time notifications directly to users' devices, ensuring that their message is seen and acted upon.

Trends in the market: One of the key trends in the Web Push Advertising market in Hong Kong is the increasing adoption of this advertising method by businesses across various industries. Companies are recognizing the effectiveness of web push advertising in engaging with their customers and driving conversions. As a result, there has been a rise in the number of businesses investing in web push advertising campaigns. Another trend in the market is the use of personalized and targeted notifications. With the abundance of data available, businesses are able to tailor their web push notifications to individual users based on their preferences, behavior, and location. This level of personalization helps to capture the attention of consumers and increase the likelihood of conversion.

Local special circumstances: Hong Kong is known for its highly connected population and advanced technological infrastructure. This makes it an ideal market for web push advertising, as consumers are already accustomed to receiving notifications on their devices. Additionally, Hong Kong has a high smartphone penetration rate, further driving the demand for web push advertising.

Underlying macroeconomic factors: The growing popularity of web push advertising in Hong Kong can also be attributed to the overall economic growth and increasing consumer spending in the region. As the economy continues to expand, businesses are looking for innovative ways to reach their target audience and drive sales. Web push advertising provides an effective and cost-efficient solution for businesses to achieve their marketing goals. In conclusion, the Web Push Advertising market in Hong Kong is thriving due to the increasing customer preference for mobile devices, the adoption of personalized and targeted notifications, the local technological infrastructure, and the overall economic growth in the region. As businesses continue to recognize the benefits of web push advertising, the market is expected to further expand in the coming years.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on Web Push Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for distributing web push 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 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 Consumer Insightsis reweighted for representativeness.