Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
Most recent update: Oct 2024
Source: Statista Market Insights
The Out-of-Home Advertising market in MENA is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics in the region.
Customer preferences: Customers in the MENA region are increasingly drawn to Out-of-Home Advertising due to its ability to reach a wide audience in high-traffic areas. With the rise of urbanization and increasing time spent out of home, consumers are more receptive to outdoor advertising messages that are creatively displayed and strategically placed.
Trends in the market: In Saudi Arabia, there is a growing trend towards digital Out-of-Home Advertising, with the adoption of digital billboards and interactive displays. This trend is fueled by the high smartphone penetration rate in the country, leading to more personalized and engaging advertising campaigns. Additionally, in the UAE, there is a shift towards experiential Out-of-Home Advertising, where brands create immersive and memorable experiences for consumers through interactive installations and pop-up events.
Local special circumstances: One of the key special circumstances in the MENA region is the influence of culture and religion on Out-of-Home Advertising. Advertisers need to be mindful of cultural sensitivities and religious beliefs when creating outdoor campaigns to avoid any potential backlash or controversy. This unique aspect of the market requires advertisers to tailor their messaging and creative content to resonate with the local population while respecting cultural norms.
Underlying macroeconomic factors: The Out-of-Home Advertising market in MENA is also influenced by macroeconomic factors such as GDP growth, consumer spending, and infrastructure development. As countries in the region invest in infrastructure projects and urban development, there is a growing opportunity for outdoor advertising companies to expand their reach and target new audiences. Additionally, as disposable incomes rise and consumer confidence improves, businesses are more willing to invest in Out-of-Home Advertising to promote their products and services to a larger audience.
Most recent update: Oct 2024
Source: Statista Market Insights
Data coverage:
Data encompasses enterprises (B2B). Figures are based on out-of-home (OOH) advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional out-of-home advertising (offline out-of-home advertisements) and digital out-of-home advertising (internet-connected out-of-home advertisements).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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights