Search Advertising - Greece

Greece

Highlights

Ad spending in the Search Advertising market in Greece is forecasted to reach US$279.90m in 2024.
The annual growth rate (CAGR 2024-2030) is expected to be 6.81%, leading to a projected market volume of US$415.70m by 2030.
When compared globally, the United States will lead in ad spending, reaching US$137.00bn in 2024.
Within the Search Advertising market, 40% of total ad spending is estimated to come from mobile in 2030.
The average ad spending per internet user in the Search Advertising market is projected to be US$33.21 in 2024.
Greece's Search Advertising market is seeing a shift towards personalized, data-driven campaigns to target niche audiences and maximize ROI.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Search Advertising market in Greece has been experiencing significant growth in recent years. Customer preferences have shifted towards online search as a primary method of finding information, leading to increased demand for search advertising. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: In Greece, customer preferences have shifted towards online search as a preferred method of finding information. With the increasing use of smartphones and internet access, consumers are relying more on search engines to find products, services, and information. This has led to a higher demand for search advertising as businesses strive to reach their target audience through online platforms. The convenience and efficiency of online search make it an attractive option for both consumers and advertisers.

Trends in the market: The Search Advertising market in Greece is witnessing several key trends. Firstly, there is a growing emphasis on mobile search advertising. With the widespread adoption of smartphones, more consumers are conducting searches on their mobile devices. Advertisers are recognizing this trend and are investing in mobile-friendly search advertising campaigns to target the mobile audience effectively. Another trend in the market is the increasing importance of local search advertising. Consumers are often looking for local businesses or services, and search engines provide them with relevant results based on their location. Advertisers are capitalizing on this trend by optimizing their search advertising campaigns to target local customers. This includes using location-based keywords and incorporating local information in their ad copy. Furthermore, there is a rising demand for personalized search advertising. Consumers expect ads that are relevant to their interests and preferences. Advertisers are leveraging data analytics and targeting techniques to deliver personalized ads to their target audience. This trend is driven by the need to maximize the effectiveness of search advertising campaigns and increase the chances of conversion.

Local special circumstances: Greece has a unique set of circumstances that contribute to the development of the Search Advertising market. The country has a high internet penetration rate, with a significant portion of the population having access to the internet. This provides a large potential audience for search advertising campaigns. Additionally, Greece has a strong tourism industry, attracting millions of visitors each year. This presents an opportunity for businesses to target tourists through search advertising. Advertisers can create campaigns that specifically target tourists looking for information, accommodation, and activities in Greece.

Underlying macroeconomic factors: The Search Advertising market in Greece is also influenced by underlying macroeconomic factors. The country has experienced economic challenges in recent years, leading to a shift in consumer behavior. With limited disposable income, consumers are becoming more price-conscious and are actively searching for the best deals and offers. This creates an opportunity for advertisers to reach these cost-conscious consumers through search advertising. Furthermore, the growth of the e-commerce sector in Greece has contributed to the development of the Search Advertising market. As more businesses establish an online presence and sell their products and services online, there is a growing need for effective search advertising to drive traffic and sales. In conclusion, the Search Advertising market in Greece is developing due to customer preferences shifting towards online search, trends such as mobile and local search advertising, local special circumstances like high internet penetration and a strong tourism industry, and underlying macroeconomic factors like price-conscious consumers and the growth of e-commerce. Advertisers in Greece are leveraging these factors to optimize their search advertising campaigns and reach their target audience effectively.

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.