Key regions: Australia, Japan, United States, Europe, Asia
Search Advertising market in BRICS is experiencing significant growth and development.
Customer preferences: Customers in the BRICS countries are increasingly relying on the internet to search for products and services. With the growing popularity of smartphones and increasing internet penetration, consumers are turning to search engines as their primary source of information. They are using search engines to find everything from local businesses to international brands, making search advertising an effective way for businesses to reach their target audience.
Trends in the market: In Brazil, the largest economy in South America, the Search Advertising market is growing rapidly. The country has a large population and a high level of internet penetration, which makes it an attractive market for advertisers. Additionally, the increasing adoption of smartphones has fueled the growth of mobile search advertising in Brazil. In Russia, the Search Advertising market is also experiencing significant growth. The country has a large population and a high level of internet penetration, making it an attractive market for advertisers. Furthermore, the increasing popularity of e-commerce has led to a surge in online searches, creating opportunities for businesses to reach their target audience through search advertising. In India, the Search Advertising market is growing at a rapid pace. The country has a large population and a high level of internet penetration, making it a lucrative market for advertisers. Additionally, the increasing adoption of smartphones and the government's push for digitalization has further fueled the growth of search advertising in India. China, the largest economy in the BRICS group, has a well-established Search Advertising market. The country has a massive online population and a high level of internet penetration, making it one of the largest markets for search advertising in the world. The rapid growth of e-commerce and the increasing use of mobile devices have further boosted the demand for search advertising in China.
Local special circumstances: Each BRICS country has its own unique characteristics and local special circumstances that influence the Search Advertising market. For example, in Brazil, the market is highly competitive, with both local and international players vying for customers' attention. In Russia, the market is dominated by a few major search engines, making it challenging for new entrants to gain a significant market share. In India, the market is highly fragmented, with a large number of regional search engines catering to specific language preferences. In China, the market is heavily regulated, with strict censorship and advertising guidelines that advertisers need to adhere to.
Underlying macroeconomic factors: The growth of the Search Advertising market in BRICS can be attributed to several underlying macroeconomic factors. The BRICS countries have experienced rapid economic growth in recent years, leading to an increase in disposable income and consumer spending. This has created a favorable environment for businesses to invest in advertising and marketing activities, including search advertising. Additionally, the increasing internet penetration and the widespread adoption of smartphones have provided a strong foundation for the growth of the Search Advertising market in BRICS.
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.
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