Web Push Advertising - Serbia | Statista Market Forecast

In Serbia, ad spending in the Web Push Advertising market is forecasted to reach US$1.02m in 2024.
The annual growth rate (CAGR 2024-2030) is expected to be 1.23%, leading to a projected market volume of US$1.10m by 2030.
When compared globally, the United States is anticipated to generate the highest ad spending (US$1.21bn in 2024).
The projected average ad spending per internet user in the Web Push Advertising market is US$0.17 in 2024.
Serbia's advertising market is embracing Web Push Advertising, with companies leveraging its direct and personalized approach to engage with consumers effectively.

Definition:

Web Push Advertising involves sending targeted promotional messages directly to users’ web browsers, regardless of whether they are actively visiting a specific website. This form of advertising leverages web push notifications to deliver short, concise messages containing offers, announcements, updates, or calls to action. Web Push Advertising spending refers to the advertising budget allocated by advertisers to the creation and distribution of web push advertisements.

Additional information:

Web Push Advertising 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 web push advertisements
Software fees for creating and distributing web push advertisements

Service agencies
Consultant fees
Production costs
Design services

The Web Push Advertising market in Serbia is experiencing significant growth and development in recent years.

Customer preferences: Serbian customers have shown a strong interest in web push advertising due to its effectiveness in delivering targeted messages and increasing customer engagement. With the increasing popularity of smartphones and the internet, Serbian consumers are spending more time online, creating a ripe opportunity for advertisers to reach their target audience through web push notifications. These notifications allow businesses to send personalized messages to users, promoting products or services and driving conversions.

Trends in the market: One of the key trends in the Web Push Advertising market in Serbia is the adoption of mobile-first strategies. As more Serbian consumers access the internet through their smartphones, businesses are focusing on optimizing their web push advertising campaigns for mobile devices. This includes designing mobile-friendly push notifications that are visually appealing and easy to interact with on smaller screens. Additionally, businesses are leveraging location-based targeting to deliver relevant and timely push notifications to users based on their geographic location. This strategy helps businesses reach potential customers who are in close proximity to their physical stores or events. Another trend in the market is the increasing use of personalized and interactive push notifications. Serbian businesses are realizing the importance of delivering personalized messages to their customers to enhance the user experience and drive engagement. By utilizing customer data and segmentation, businesses can tailor their push notifications to individual preferences and behaviors, increasing the likelihood of conversion. Interactive push notifications, such as quizzes, surveys, or gamified experiences, are also gaining popularity as they provide an engaging and interactive way for businesses to connect with their audience.

Local special circumstances: Serbia's growing digital economy and tech-savvy population contribute to the development of the Web Push Advertising market. The country has seen a rise in digital startups and e-commerce businesses, creating a competitive landscape where businesses are looking for innovative ways to reach and engage their target audience. The relatively low cost of implementing web push advertising compared to traditional advertising channels also makes it an attractive option for businesses, especially small and medium-sized enterprises (SMEs) with limited marketing budgets.

Underlying macroeconomic factors: The overall economic growth in Serbia has had a positive impact on the Web Push Advertising market. As the economy grows, businesses have more resources to invest in marketing and advertising efforts, including web push advertising. Additionally, the increasing internet penetration rate and smartphone adoption in Serbia provide a larger audience for businesses to target with their push notifications. The continuous development of the digital infrastructure and improvement in internet connectivity also contribute to the growth of the Web Push Advertising market in Serbia.

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.

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.