Key regions: United States, China, Europe, Asia, Japan
The Advertising market in Saudi Arabia has been experiencing significant growth in recent years. This growth can be attributed to several factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Saudi Arabia have shifted towards digital advertising. With the increasing penetration of smartphones and internet connectivity, consumers are spending more time online. This has led to a greater demand for digital advertising platforms, such as social media, search engines, and mobile applications. Advertisers are recognizing the potential of these platforms to reach a wider audience and engage with consumers in a more targeted and personalized manner. Trends in the market also contribute to the development of the Advertising industry in Saudi Arabia. One notable trend is the rise of influencer marketing. Influencers, who have a large following on social media platforms, are being used by brands to promote their products and services. This form of advertising is effective in reaching a specific target audience and generating brand awareness. Additionally, there is a growing focus on video advertising, as it is a highly engaging format that captures the attention of consumers. Local special circumstances in Saudi Arabia have also played a role in the growth of the Advertising market. The country has a young and tech-savvy population, which is driving the demand for digital advertising. Furthermore, Saudi Arabia has been implementing economic reforms as part of its Vision 2030 plan, which aims to diversify the economy and reduce its dependence on oil. This has created opportunities for businesses in various sectors, including advertising, as they seek to promote their products and services to a larger audience. Underlying macroeconomic factors have also contributed to the development of the Advertising market in Saudi Arabia. The country has a strong and stable economy, supported by its vast reserves of oil. This has attracted foreign investment and created a favorable business environment. Additionally, the government has been investing in infrastructure development, which has improved connectivity and accessibility for businesses and consumers alike. In conclusion, the Advertising market in Saudi Arabia is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the country continues to modernize and diversify its economy, the Advertising industry is expected to further expand and evolve to meet the needs of businesses and consumers.
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).
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