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

Digital Out-of-Home Advertising - Ethiopia

Ethiopia

In Ethiopia, ad spending in the Digital Out-of-Home Advertising market is forecasted to reach US$6.52m by 2024.
The expected annual growth rate (CAGR 2024-2029) of 7.08% indicates a projected market volume of US$9.18m by 2029.
China is anticipated to lead in ad spending with a projected market volume of US$4,366.00m in 2024.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to be US$0.05 in 2024.
Ethiopia's Digital Out-of-Home Advertising market is rapidly growing, leveraging innovative technology to engage consumers effectively in urban centers.

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

Market

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Analyst Opinion

The Digital Out-of-Home Advertising market in Ethiopia is experiencing significant growth and development, driven by changing customer preferences and favorable local circumstances.

Customer preferences: Ethiopian consumers are increasingly embracing digital technology, and this is reflected in their preferences for digital out-of-home advertising. With the rise of smartphones and internet connectivity, people are becoming more accustomed to digital content and are more likely to engage with digital advertisements. Additionally, the younger population in Ethiopia, who are more tech-savvy and open to new experiences, are particularly receptive to digital out-of-home advertising.

Trends in the market: One of the key trends in the Ethiopian digital out-of-home advertising market is the adoption of interactive and dynamic advertising displays. These displays allow advertisers to engage with consumers in a more personalized and interactive manner, enhancing the effectiveness of their campaigns. Furthermore, the use of data analytics and real-time tracking is becoming increasingly prevalent, enabling advertisers to measure the impact and reach of their digital out-of-home advertising campaigns.

Local special circumstances: Ethiopia has a large and rapidly growing population, making it an attractive market for advertisers. With a high urbanization rate, there is a concentration of consumers in urban areas, where digital out-of-home advertising can have a greater impact. Additionally, the Ethiopian government has been investing in infrastructure development, including the expansion of digital networks and the deployment of digital signage, creating more opportunities for digital out-of-home advertising.

Underlying macroeconomic factors: Ethiopia is experiencing strong economic growth, which is driving consumer spending and increasing the demand for advertising. As disposable incomes rise, consumers have more purchasing power, making them attractive targets for advertisers. Furthermore, the government's focus on promoting foreign direct investment and improving the business environment is attracting multinational companies to Ethiopia, increasing the demand for advertising services. In conclusion, the Digital Out-of-Home Advertising market in Ethiopia is witnessing significant growth and development due to changing customer preferences, favorable local circumstances, and underlying macroeconomic factors. As digital technology continues to advance and the Ethiopian market becomes more connected, the digital out-of-home advertising industry is expected to further expand and evolve.

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.