Web Push Advertising - Peru

Peru

Highlights

Ad spending in the Web Push Advertising market in Peru is forecasted to reach US$2.86m in 2024.
The sector is expected to experience an annual growth rate (CAGR 2024-2030) of 2.51%, leading to a projected market volume of US$3.32m by 2030.
When compared globally, the United States will contribute the most to ad spending, with US$1.21bn in 2024.
The average ad spending per internet user in the Web Push Advertising market is estimated to be US$0.10 in 2024.
Peru experiences a surge in Web Push Advertising adoption, leveraging its growing digital market for targeted and effective consumer engagement strategies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Peruvian customers are increasingly embracing web push advertising as a way to stay informed and connected with their favorite brands. They appreciate the convenience and immediacy of receiving push notifications directly to their devices, allowing them to stay up-to-date with the latest promotions, discounts, and product launches. Additionally, Peruvian customers are becoming more tech-savvy and are comfortable with receiving personalized advertisements based on their browsing habits and preferences. They see value in tailored content that is relevant to their interests and are more likely to engage with such advertisements.

Trends in the market: One of the key trends in the Peruvian Web Push Advertising market is the adoption of mobile devices. Peru has seen a significant increase in smartphone penetration over the past few years, with a large portion of the population now owning a mobile device. This trend has opened up new opportunities for advertisers to reach customers through push notifications on their smartphones. As a result, advertisers are increasingly investing in mobile-focused web push advertising strategies to target the growing mobile user base in Peru. Another trend in the market is the rise of e-commerce in Peru. The COVID-19 pandemic has accelerated the shift towards online shopping, with more Peruvians now making purchases through e-commerce platforms. This has created a demand for web push advertising as businesses look for ways to engage with customers and drive sales. E-commerce companies are leveraging push notifications to send personalized offers, reminders, and order updates, enhancing the overall customer experience and driving repeat purchases.

Local special circumstances: Peru has a young and digitally active population, with a high percentage of internet users. This provides a fertile ground for web push advertising to thrive. Additionally, the Peruvian market is relatively untapped compared to more mature markets, presenting an opportunity for businesses to establish themselves and gain a competitive edge. The Peruvian culture also values personal relationships and trust, which can be leveraged by brands through personalized and targeted web push advertising campaigns to build customer loyalty.

Underlying macroeconomic factors: Peru's economy has been growing steadily over the past decade, leading to an increase in disposable income and consumer spending. This economic growth has fueled the demand for products and services, driving businesses to invest in advertising to capture the attention of consumers. Furthermore, Peru has a growing middle class, which has resulted in an expanding consumer base with higher purchasing power. As a result, businesses are increasingly turning to web push advertising to reach this growing segment of the population and drive sales. In conclusion, the Web Push Advertising market in Peru is experiencing growth and development due to customer preferences for convenience and personalized content, the adoption of mobile devices, the rise of e-commerce, local special circumstances such as a young and digitally active population, and underlying macroeconomic factors such as economic growth and an expanding middle class. This presents opportunities for businesses to leverage web push advertising to engage with customers, drive sales, and establish a strong presence in the Peruvian market.

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 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.