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

Digital Out-of-Home Advertising - Paraguay

Paraguay

Ad spending in the Digital Out-of-Home Advertising market in Paraguay is forecasted to reach US$1.72m in 2024.
The expected annual growth rate (CAGR 2024-2029) of ad spending is 12.36%, leading to a projected market volume of US$3.08m by 2029.
With a projected market volume of US$4,366.00m in 2024, most ad spending will be generated China.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to amount to US$0.25 in 2024.
Paraguay's Digital Out-of-Home Advertising market is rapidly expanding, leveraging innovative technology to target consumers effectively in urban centers.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Out-of-Home Advertising market in Paraguay is experiencing significant growth and development.

Customer preferences: Paraguayan consumers are increasingly embracing digital out-of-home advertising as a means of communication and engagement. This is primarily driven by the rising popularity of digital media and the increasing number of people spending time outside of their homes. With the availability of advanced technology, consumers are becoming more receptive to interactive and engaging advertising experiences. Additionally, the younger population in Paraguay, who are considered early adopters of technology, are particularly receptive to digital out-of-home advertising.

Trends in the market: One of the key trends in the Paraguayan digital out-of-home advertising market is the shift towards programmatic advertising. Programmatic advertising allows advertisers to target specific audiences and deliver personalized content in real-time. This trend is driven by the increasing availability of data and advanced analytics, which enable advertisers to optimize their campaigns and deliver more relevant and effective messages to consumers. As a result, programmatic advertising is gaining traction in Paraguay as advertisers seek to maximize their return on investment. Another trend in the market is the integration of digital out-of-home advertising with mobile devices. This trend is driven by the widespread use of smartphones and the increasing reliance on mobile devices for information and entertainment. Advertisers are leveraging mobile technology to deliver location-based and contextually relevant content to consumers. This integration creates a seamless and personalized advertising experience, which is highly appealing to Paraguayan consumers.

Local special circumstances: Paraguay has a relatively low internet penetration rate compared to other countries in the region. This presents a unique opportunity for digital out-of-home advertising to reach a wider audience. As more people access the internet through their smartphones, digital out-of-home advertising can bridge the gap between online and offline channels. This is particularly relevant in Paraguay, where traditional media channels such as television and print still play a significant role in advertising.

Underlying macroeconomic factors: The Paraguayan economy has been growing steadily in recent years, driven by sectors such as agriculture, manufacturing, and services. This economic growth has led to an increase in consumer spending power, which in turn has fueled the demand for advertising. As businesses compete for consumer attention, digital out-of-home advertising offers a cost-effective and impactful way to reach a large audience. Additionally, the government of Paraguay has been supportive of the digital advertising industry, implementing policies and regulations that promote its growth and development. This favorable business environment has attracted both domestic and international players to invest in the Paraguayan 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.