Key regions: United States, China, Europe, Asia, Japan
The Advertising market in MENA is experiencing a shift in customer preferences and trends, influenced by local special circumstances and underlying macroeconomic factors.
Customer preferences: Customers in the MENA region are increasingly demanding personalized and interactive advertising experiences. They are looking for targeted and relevant ads that resonate with their cultural values and beliefs. With the rise of digital platforms and social media usage in the region, customers are more inclined towards engaging with brands through online channels. Additionally, there is a growing interest in influencer marketing as customers seek authentic and relatable content from trusted personalities.
Trends in the market: In Saudi Arabia, there is a noticeable trend towards utilizing social media influencers to promote products and services. Influencer marketing has gained significant traction as companies leverage the large following of popular influencers to reach their target audience effectively. This trend is driven by the high social media penetration rate in the country and the influence that these personalities hold over consumer purchasing decisions.
Local special circumstances: The UAE stands out in the MENA region for its advanced infrastructure and diverse population, making it a hub for innovative advertising strategies. Brands in the UAE are increasingly focusing on creativity and technology to deliver unique and memorable ad campaigns. The country's status as a global business center also attracts international brands looking to establish a presence in the region, leading to a competitive advertising landscape.
Underlying macroeconomic factors: The economic diversification efforts in Qatar have created opportunities for advertising agencies to cater to a range of industries beyond oil and gas. As the country invests in sectors such as tourism, finance, and technology, there is a growing demand for marketing services to promote these new ventures. This diversification has opened up avenues for creative advertising campaigns that target both domestic and international audiences, driving the growth of the advertising market in Qatar.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.Modeling approach:
Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. 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 particular 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.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 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).
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