Market Insights Advertising & Media Advertising Out-of-Home Advertising

Digital Out-of-Home Advertising - Armenia

Armenia

Ad spending in the Digital Out-of-Home Advertising market in Armenia is forecasted to reach US$0.58m in 2024.
The sector is expected to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 6.38%, leading to an estimated market size of US$0.79m by 2029.
Armenia's ad spending market is projected to reach US$4,366.00m in 2024, with a significant portion of ad spending originating China.
The anticipated average ad spending per capita in the Digital Out-of-Home Advertising market is set to be US$0.21 in 2024.
Armenia is experiencing a surge in Digital Out-of-Home Advertising investments, leveraging innovative technologies to target consumers effectively in diverse urban landscapes.

Key regions: India, France, United States, United Kingdom, China

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Analyst Opinion

The Digital Out-of-Home Advertising market in Armenia is experiencing significant growth and development, driven by customer preferences for interactive and engaging advertising experiences.

Customer preferences: Armenian consumers are increasingly seeking out dynamic and interactive advertising experiences that capture their attention and engage them on a deeper level. This has led to a growing demand for Digital Out-of-Home Advertising, as it offers the ability to deliver targeted and personalized messages to a wide audience. Additionally, consumers in Armenia are becoming more tech-savvy and are accustomed to accessing information and entertainment through digital platforms. As a result, they are more receptive to digital advertising formats that provide a seamless integration with their daily lives.

Trends in the market: One of the key trends in the Digital Out-of-Home Advertising market in Armenia is the adoption of advanced technologies such as augmented reality (AR) and virtual reality (VR) to create immersive and interactive advertising experiences. This allows brands to captivate consumers and create a lasting impression. Another trend is the integration of data analytics and real-time tracking capabilities into digital advertising platforms. This enables advertisers to measure the effectiveness of their campaigns and make data-driven decisions to optimize their advertising strategies.

Local special circumstances: Armenia has a vibrant and tech-oriented population, with a high level of internet penetration and smartphone usage. This provides a fertile ground for the growth of Digital Out-of-Home Advertising, as consumers are already accustomed to digital technologies and are receptive to innovative advertising formats. Additionally, Armenia has a relatively small market size compared to other countries, which allows advertisers to target specific segments of the population more effectively.

Underlying macroeconomic factors: The economic growth and stability in Armenia have created a favorable environment for the Digital Out-of-Home Advertising market to thrive. The country has witnessed a steady increase in foreign direct investment and a growing middle class, which has led to increased consumer spending power. This has resulted in a higher demand for products and services, and advertisers are leveraging Digital Out-of-Home Advertising to reach this expanding consumer base. Furthermore, the government of Armenia has been actively promoting the development of the digital economy, which has further contributed to the growth of the Digital Out-of-Home Advertising market.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers internet-connected out-of-home advertisements such as digital billboards, digital street furniture, digital transit and transportation, and digital place-based media.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. 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) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.

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.