Advertising - Peru | Statista Market Forecast

Ad spending in the Advertising market in Peru is forecasted to reach US$1.15bn in 2024.
The largest market in Peru is TV & Video Advertising with a market volume of US$426.40m in 2024.
When comparing ad spending globally, the United States is expected to lead with US$425.90bn in 2024.
In Peru's Advertising market, 52% of total ad spending will come from digital sources by 2030.
The average ad spending per capita in the TV & Video Advertising sector is projected to be US$12.29 in 2024.
By 2030, Advertising market of the 88% revenue in Peru will be generated through programmatic advertising.
Peru's advertising market is experiencing a shift towards digital platforms, with a growing focus on targeted online campaigns to reach specific audiences effectively.

Definition:
Advertising spending refers to expenses for promotional strategies with which brands or businesses purchase advertising space to promote products or services. The primary purposes of advertising include creating awareness, generating interest, and persuading consumers to take a particular action such as purchasing a product, visiting a website, or supporting brands. Advertisers use advertising to reach their target audience while media companies and advertising agencies use it as a source of income.

Structure:
The advertising spending consists of two main channels (traditional advertising and digital advertising). Traditional Advertising refers to above-the-line media that delivers commercial messages to broad audiences. This includes mass media such as traditional TV, traditional radio, printed newspapers, printed magazines, and traditional out-of-home (OOH) advertising formats. Digital Advertising uses the internet to deliver marketing messages to internet users in various forms. This includes digital video, search engine, social media, digital out-of-home, digital banner, digital audio, digital classifieds, and influencer advertising.

Additional information:
The market comprises advertising spending, share by advertising channel, users, average revenue per user, advertising share by industry, ad spending by medium, and digital ad spending share (programmatic and non-programmatic). The market only displays B2B spending and users for the above-mentioned channels. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions for each market can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional advertising such as non-digital ads for TV and radio, as well as out-of-home advertising and print advertising
Digital advertising such as online ads for video, banner, audio, classifieds, and search engines, as well as digital out-of-home, social media, in-app, and connected TV advertising
Influencer advertising

Sponsorships/events and promotion
Product placement
Commission-based affiliate systems

The Advertising market in Peru has been experiencing significant growth in recent years, driven by several key factors. Customer preferences have shifted towards digital advertising, leading to a surge in online ad spending. Additionally, the local market has been influenced by global trends, such as the rise of mobile advertising and the increasing importance of data-driven marketing strategies. Customer preferences in the Advertising market in Peru have evolved in line with global trends. With the increasing penetration of smartphones and internet access, Peruvian consumers are spending more time online, which has led to a greater demand for digital advertising. This shift is driven by the convenience and personalization offered by digital platforms, as well as the ability to reach a wider audience. As a result, companies are investing more in online advertising channels, such as social media, search engines, and display ads. One of the major trends in the Advertising market in Peru is the rise of mobile advertising. Mobile devices have become an integral part of Peruvian consumers' lives, with a large portion of the population relying on smartphones for internet access. This has created new opportunities for advertisers to reach their target audience through mobile apps, mobile websites, and SMS marketing. As a result, companies are allocating a greater portion of their advertising budgets to mobile advertising, in order to capitalize on this growing trend. Another trend in the Advertising market in Peru is the increasing importance of data-driven marketing strategies. With the availability of advanced analytics tools, advertisers are able to collect and analyze large amounts of data on consumer behavior and preferences. This allows them to target their advertising campaigns more effectively and measure the impact of their marketing efforts. As a result, companies are investing in data analytics and hiring specialized professionals to optimize their advertising strategies. Local special circumstances in Peru also play a role in the development of the Advertising market. Peru has a rapidly growing middle class, which has led to increased consumer spending and a greater demand for products and services. This has created opportunities for companies to advertise their offerings and attract new customers. Additionally, Peru has a young population, with a high proportion of tech-savvy individuals who are receptive to digital advertising. This demographic trend has further fueled the growth of the digital advertising market in Peru. Underlying macroeconomic factors have also contributed to the growth of the Advertising market in Peru. The country has experienced steady economic growth in recent years, which has increased consumer purchasing power and overall business activity. This has created a favorable environment for advertising, as companies have more resources to invest in marketing and promotion. Additionally, Peru has a stable political and regulatory environment, which provides a conducive business environment for advertisers. In conclusion, the Advertising market in Peru is developing rapidly, driven by changing customer preferences, global trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital advertising, the rise of mobile advertising, the importance of data-driven marketing strategies, the growing middle class, the young population, and the favorable macroeconomic environment are all contributing to the growth of the market. As companies continue to invest in advertising, the market is expected to further expand in the coming years.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, 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). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, 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 some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.