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

Digital Out-of-Home Advertising - Zimbabwe

Zimbabwe

In Zimbabwe, ad spending in the Digital Out-of-Home Advertising market is forecasted to reach US$4.36m by 2024.
The sector is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 11.87%, leading to a projected market size of US$7.64m by 2029.
With a projected market size of US$4,366.00m in 2024, China is expected to drive most of the ad spending.
The average ad spending per capita in the Digital Out-of-Home Advertising market is projected to be US$0.26 in 2024.
Zimbabwe's Digital Out-of-Home Advertising market is rapidly evolving, leveraging innovative technology to reach a growing consumer base nationwide.

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

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Analyst Opinion

The Digital Out-of-Home Advertising market in Zimbabwe has been experiencing significant growth in recent years.

Customer preferences: Zimbabwean consumers are increasingly embracing digital technology in their daily lives. With the rapid expansion of internet access and smartphone usage, people are becoming more connected and engaged with digital platforms. This has created a shift in consumer preferences towards digital advertising, including Digital Out-of-Home Advertising.

Trends in the market: One of the key trends in the Digital Out-of-Home Advertising market in Zimbabwe is the adoption of digital signage in high-traffic areas such as shopping malls, airports, and transit stations. These digital displays allow advertisers to reach a large audience and deliver dynamic and engaging content. Additionally, the use of interactive features such as touch screens and augmented reality has also gained popularity, providing a more immersive and interactive advertising experience. Another trend in the market is the integration of data analytics and targeting capabilities into Digital Out-of-Home Advertising campaigns. Advertisers are leveraging data to better understand their target audience and deliver personalized and relevant content. This allows for more effective advertising campaigns and higher return on investment.

Local special circumstances: Zimbabwe has a young and tech-savvy population, which presents a unique opportunity for digital advertisers. The majority of the population is under the age of 35, and they are highly receptive to digital advertising. This demographic is also more likely to engage with digital platforms and share content on social media, further amplifying the reach and impact of Digital Out-of-Home Advertising campaigns.

Underlying macroeconomic factors: Zimbabwe has been experiencing economic growth in recent years, which has contributed to the development of the Digital Out-of-Home Advertising market. As the economy expands, businesses are investing more in advertising to capture the attention of consumers and drive sales. Furthermore, the increasing urbanization and modernization of cities in Zimbabwe have created a conducive environment for the growth of the Digital Out-of-Home Advertising market. In conclusion, the Digital Out-of-Home Advertising market in Zimbabwe is experiencing significant growth due to the increasing adoption of digital technology by consumers, the use of digital signage in high-traffic areas, the integration of data analytics and targeting capabilities, the young and tech-savvy population, and the underlying macroeconomic factors. This presents a lucrative opportunity for advertisers to reach a large and engaged audience in Zimbabwe.

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.