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

Traditional Out-of-Home Advertising - Zimbabwe

Zimbabwe

Zimbabwe's Traditional Out-of-Home Advertising market is forecasted to reach US$11.77m in 2024.
The sector is anticipated to experience a compound annual growth rate (CAGR 2024-2029) of 0.05%, leading to an estimated market size of US$11.80m by 2029.
The expected average ad spending per capita in Zimbabwe's Traditional Out-of-Home Advertising market is projected to be US$0.69 in 2024.
In Zimbabwe, the demand for traditional out-of-home advertising is rising steadily, driven by a growing number of companies investing in brand visibility.

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

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Zimbabwe is experiencing significant growth and development.

Customer preferences: In Zimbabwe, customers have shown a strong preference for traditional out-of-home advertising methods such as billboards, posters, and signage. This can be attributed to the fact that these methods have been widely used and trusted for many years. Customers appreciate the visibility and impact that these advertising mediums provide, as they are often strategically placed in high-traffic areas where they can reach a large audience. Additionally, traditional out-of-home advertising allows for creative and eye-catching designs that can capture the attention of passersby.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Zimbabwe is the increasing use of digital technology. While traditional methods still dominate the market, there has been a growing interest in incorporating digital elements into out-of-home advertising. This includes the use of digital billboards and screens, which allow for dynamic and interactive content. This trend is driven by the desire to engage and captivate audiences in new and innovative ways. Furthermore, digital technology enables advertisers to target specific demographics and adjust their messaging in real-time, enhancing the effectiveness of their campaigns. Another trend in the market is the rise of experiential advertising. Advertisers are increasingly looking for ways to create memorable and immersive experiences for consumers. This can include interactive installations, pop-up events, and other creative activations. By providing a unique and engaging experience, advertisers can leave a lasting impression on consumers and generate positive brand associations.

Local special circumstances: Zimbabwe's unique cultural and social landscape also plays a role in shaping the Traditional Out-of-Home Advertising market. The country has a diverse population with different languages, traditions, and lifestyles. Advertisers need to take these factors into account when designing their campaigns to ensure they resonate with the target audience. Additionally, Zimbabwe has a growing urban population, with major cities experiencing rapid development. This presents opportunities for advertisers to reach a concentrated and affluent consumer base in these urban centers.

Underlying macroeconomic factors: The development of the Traditional Out-of-Home Advertising market in Zimbabwe is also influenced by macroeconomic factors. The country has experienced periods of economic instability in the past, which have impacted advertising budgets and investment. However, recent economic reforms and increased stability have created a more favorable business environment. This has resulted in increased investment in advertising and marketing activities, including traditional out-of-home advertising. As the economy continues to recover and grow, it is expected that the Traditional Out-of-Home Advertising market in Zimbabwe will continue to expand and evolve. Overall, the Traditional Out-of-Home Advertising market in Zimbabwe is experiencing growth and development driven by customer preferences for traditional mediums, the adoption of digital technology, the rise of experiential advertising, local cultural and social factors, and underlying macroeconomic factors.

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.