Search Advertising - Benelux

Benelux

Highlights

Ad spending in the Search Advertising market in Benelux is forecasted to reach US$3.31bn in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 7.74%, leading to an estimated market volume of US$5.18bn by 2030.
When compared globally, the United States is expected to account for the majority of ad spending (US$137.00bn in 2024).
Within the Search Advertising market in Benelux, 41% of the total ad spending is projected to come from mobile advertising by 2030.
The average ad spending per internet user in the Search Advertising market in Benelux is forecasted to be US$123.90 in 2024.
In the Benelux region, Search Advertising is seeing a surge in demand as companies prioritize online visibility to reach target audiences effectively.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Search Advertising market in Benelux is experiencing steady growth, driven by customer preferences for online search and the increasing importance of digital advertising.

Customer preferences: In Benelux, customers have shown a strong preference for online search as a way to find information and make purchase decisions. With the rise of smartphones and internet penetration, consumers are increasingly relying on search engines to discover products and services. This has led to a growing demand for search advertising, as businesses seek to reach their target audience at the moment of intent.

Trends in the market: One major trend in the Search Advertising market in Benelux is the shift towards mobile search. With the widespread adoption of smartphones, more and more people are using their mobile devices to search for information on the go. This has created new opportunities for advertisers to target mobile users with relevant ads. As a result, there has been a significant increase in mobile search advertising budgets, as businesses recognize the importance of reaching consumers on their preferred devices. Another trend in the market is the growing importance of local search advertising. Consumers in Benelux are increasingly using search engines to find local businesses and services. This has led to a rise in the number of businesses investing in local search advertising to increase their visibility among local customers. With the use of location-based targeting, businesses can ensure that their ads are shown to the right audience at the right time, increasing the chances of conversion.

Local special circumstances: One of the unique aspects of the Search Advertising market in Benelux is the multilingual nature of the region. As a result, advertisers need to create campaigns that cater to different languages and cultures within the Benelux countries. This requires a deep understanding of the local market and the ability to create tailored ads that resonate with the target audience. Advertisers who can effectively navigate the linguistic and cultural diversity of Benelux are likely to gain a competitive edge in the market.

Underlying macroeconomic factors: The strong economic growth in Benelux has also contributed to the development of the Search Advertising market. As the economy continues to expand, businesses are looking for ways to reach a wider audience and drive sales. Search advertising offers a cost-effective and measurable solution for businesses to promote their products and services, making it an attractive option for advertisers. Additionally, the increasing internet penetration and the availability of affordable smartphones have made online search more accessible to a larger population, further fueling the growth of the Search Advertising market in Benelux. Overall, the Search Advertising market in Benelux is experiencing growth due to customer preferences for online search, the increasing importance of digital advertising, and the strong macroeconomic factors in the region. Advertisers who can adapt to the evolving trends and local special circumstances are well-positioned to succeed in this dynamic market.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on search advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers search advertising that is displayed on search result pages or next to organic search results.

Modeling approach:

A combined top-down and bottom-up approach determines the market size. Starting with the top-down approach, we calculate global search advertising by aggregating advertising revenues from key players (Alphabet (Google), Microsoft (Bing), Baidu, Amazon, Alibaba, etc.). Followed by the bottom-up approach, we justify global, country, and region results using web traffic and the number of app downloads. Lastly, we distribute the results to each country individually with relevant indicators such as GDP, internet users, and digital consumer spending by country.

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.