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

Traditional Out-of-Home Advertising - Bosnia and Herzegovina

Bosnia and Herzegovina

Ad spending in Bosnia and Herzegovina's Traditional Out-of-Home Advertising market is forecasted to hit US$6.09m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.66%, leading to a projected market volume of US$7.29m by 2029.
The average ad spending per capita in Bosnia and Herzegovina's Traditional Out-of-Home Advertising market is projected to be US$1.91 in 2024.
Traditional Out-of-Home Advertising in Bosnia and Herzegovina is seeing a resurgence due to high demand for local cultural events promotion.

Key regions: Germany, Europe, Asia, France, China

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Bosnia and Herzegovina has been experiencing steady growth in recent years.

Customer preferences: In Bosnia and Herzegovina, customers still value traditional out-of-home advertising methods such as billboards, posters, and signage. This preference can be attributed to the fact that these advertising methods are highly visible and can reach a wide audience. Additionally, traditional out-of-home advertising allows for creative and eye-catching designs, which can capture the attention of passersby.

Trends in the market: One of the key trends in the traditional out-of-home advertising market in Bosnia and Herzegovina is the increasing use of digital technology. While traditional methods still dominate the market, digital billboards and screens are becoming more prevalent. These digital displays offer advertisers more flexibility in terms of content and can provide real-time updates and targeted advertising. This trend is in line with the global shift towards digital advertising and the increasing use of technology in everyday life. Another trend in the market is the growing emphasis on sustainability and eco-friendly advertising. Advertisers are increasingly looking for ways to minimize their environmental impact, and this includes the materials used in traditional out-of-home advertising. In Bosnia and Herzegovina, there is a growing demand for eco-friendly billboards and signage made from recycled materials. This trend reflects the global focus on sustainability and the increasing consumer awareness of environmental issues.

Local special circumstances: Bosnia and Herzegovina is a country with a diverse cultural heritage and a rich history. This diversity is reflected in the advertising landscape, with advertisers often incorporating local traditions and cultural symbols into their campaigns. This localized approach helps to create a sense of connection and familiarity with the target audience.

Underlying macroeconomic factors: The growth of the traditional out-of-home advertising market in Bosnia and Herzegovina can be attributed to several underlying macroeconomic factors. Firstly, the country has seen steady economic growth in recent years, which has led to increased consumer spending and a greater demand for advertising. Additionally, Bosnia and Herzegovina has a large and growing tourism industry, which provides opportunities for advertisers to reach a diverse range of visitors. In conclusion, the Traditional Out-of-Home Advertising market in Bosnia and Herzegovina is developing in response to customer preferences for highly visible and creative advertising methods. The market is also influenced by global trends such as the increasing use of digital technology and the focus on sustainability. Local special circumstances, such as the country's cultural diversity, play a role in shaping the advertising landscape. Overall, the market is supported by underlying macroeconomic factors such as economic growth and the thriving tourism industry.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and 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.