Market Insights Advertising & Media Advertising

Influencer Advertising - ASEAN

ASEAN

The ASEAN country's Influencer Advertising market is anticipated to see ad spending reaching US$693.20m by 2024.
A yearly growth rate (CAGR 2024-2029) of 10.83% is expected, leading to a market volume of US$1,159.00m by 2029.
The projected average ad spending per internet user in the Influencer Advertising market is US$1.22 in 2024.
When compared globally, China is forecasted to lead in ad spending with US$19,160.00m in 2024.
Influencer Advertising in the ASEAN market is rapidly growing, with brands leveraging local influencers to reach diverse audiences effectively.

Key regions: Australia, Germany, France, Europe, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Influencer Advertising market in ASEAN is witnessing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this growth.

Customer preferences: Influencer Advertising has gained immense popularity among customers in ASEAN countries. Customers are increasingly relying on social media platforms for product recommendations and reviews. They trust influencers who have a large following and a strong online presence. Influencers are seen as authentic and relatable individuals who can provide honest opinions about products and services. Customers appreciate the personalized and engaging content created by influencers, which helps them make informed purchasing decisions.

Trends in the market: One of the key trends in the Influencer Advertising market in ASEAN is the rise of micro-influencers. These are individuals with a smaller but highly engaged audience. Brands are recognizing the value of micro-influencers as they can provide targeted and niche marketing opportunities. Micro-influencers often have a deep understanding of their audience and can create content that resonates with them. This trend is particularly evident in countries like Indonesia and Thailand, where micro-influencers have a strong presence. Another trend in the market is the increasing use of video content. Influencers are leveraging platforms like YouTube and TikTok to create engaging and entertaining videos. Video content allows influencers to showcase products and services in a more dynamic and interactive way, capturing the attention of their audience. This trend is driven by the growing popularity of video-based social media platforms and the preference of customers for visual content.

Local special circumstances: Each country in ASEAN has its own unique set of circumstances that impact the Influencer Advertising market. For example, in Singapore, which is known for its high internet penetration rate and tech-savvy population, influencer marketing is well-established. The market is highly competitive, and influencers need to constantly innovate and differentiate themselves to stay relevant. In countries like Vietnam and the Philippines, where social media usage is rapidly increasing, influencer marketing is still in its early stages. This presents a significant growth opportunity for brands and influencers to tap into these emerging markets and reach a large and engaged audience.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in ASEAN countries are driving the growth of the Influencer Advertising market. As more people have access to the internet and social media platforms, the potential reach and impact of influencer marketing are expanding. Additionally, the rise of e-commerce and online shopping has created a demand for influencers who can provide product recommendations and reviews. In conclusion, the Influencer Advertising market in ASEAN is experiencing rapid growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As social media usage continues to increase and customers seek authentic and relatable content, influencer marketing is expected to further expand in the region.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, 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.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.