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

Traditional Out-of-Home Advertising - Peru

Peru

Peru's Traditional Out-of-Home Advertising market is projected to reach US$35.91m in 2024.
The country is expected to show an annual growth rate (CAGR 2024-2029) of 2.48% in ad spending, resulting in a projected market volume of US$40.59m by 2029.
The average ad spending per capita in Peru's Traditional Out-of-Home Advertising market is projected to amount to US$1.03 in 2024.
In Peru, the utilization of hand-painted billboards in traditional out-of-home advertising continues to resonate with local audiences, preserving a sense of cultural authenticity.

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

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Peru has experienced steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Peruvian consumers have shown a growing interest in outdoor advertising, as it offers a unique and engaging way to reach a wide audience. Traditional Out-of-Home Advertising, such as billboards and posters, remains popular due to its ability to capture attention and convey messages effectively. Additionally, the rise of digital Out-of-Home Advertising has further increased customer interest, as it allows for dynamic and interactive content.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Peru is the adoption of digital technology. Digital billboards and screens have become increasingly common, offering advertisers the opportunity to display dynamic and targeted content. This trend has been driven by technological advancements and the increasing availability of affordable digital signage solutions. As a result, advertisers are able to create more engaging and impactful campaigns. Another trend in the market is the integration of Out-of-Home Advertising with other advertising channels. Advertisers are recognizing the importance of a multi-channel approach, and are incorporating Out-of-Home Advertising into their overall marketing strategies. This integration allows for greater reach and exposure, as well as increased brand awareness.

Local special circumstances: Peru's unique geography and population distribution contribute to the growth of the Traditional Out-of-Home Advertising market. The country has a diverse landscape, with urban areas, rural communities, and tourist destinations. This diversity provides advertisers with opportunities to target specific audiences in different locations. Additionally, Peru has a large and growing middle class, which represents a significant consumer base for advertisers.

Underlying macroeconomic factors: Peru's strong economic growth and increasing consumer purchasing power have also contributed to the development of the Traditional Out-of-Home Advertising market. As the country's economy expands, businesses are investing more in advertising to attract customers and grow their market share. Additionally, Peru's stable political environment and favorable business climate have attracted foreign investors, further boosting the advertising industry. In conclusion, the Traditional Out-of-Home Advertising market in Peru is experiencing growth due to changing customer preferences, the adoption of digital technology, the integration of Out-of-Home Advertising with other channels, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, advertisers will need to stay abreast of these trends and adapt their strategies accordingly to effectively reach their target audience.

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.