Search Advertising - Taiwan

Taiwan

Highlights

Ad spending in the Search Advertising market in Taiwan is forecasted to reach US$1.58bn in 2024.
The ad spending is anticipated to display an annual growth rate (CAGR 2024-2030) of 8.91%, leading to a projected market volume of US$2.63bn by 2030.
When compared globally, the United States will contribute the most to ad spending (US$137.00bn in 2024).
Within the Search Advertising market, 54% of total ad spending is expected to come from mobile in 2030.
The average ad spending per internet user in the Search Advertising market in Taiwan is projected to be US$76.18 in 2024.
In Taiwan, Search Advertising is experiencing a shift towards mobile platforms, with companies investing more in optimizing their ads for smartphone users.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Search Advertising market in Taiwan is experiencing significant growth and development.

Customer preferences: Taiwanese consumers are increasingly relying on the internet to search for information, products, and services. With the rise of e-commerce and online platforms, search advertising has become an essential tool for businesses to reach their target audience. Consumers in Taiwan are tech-savvy and digitally connected, making search advertising an effective way to capture their attention and drive conversions.

Trends in the market: One of the key trends in the Search Advertising market in Taiwan is the increasing adoption of mobile devices. Smartphones have become an integral part of Taiwanese consumers' lives, and they are using their mobile devices to search for information on the go. As a result, businesses are shifting their advertising strategies to target mobile users through mobile-optimized search ads. This trend is expected to continue as mobile usage continues to rise in Taiwan. Another trend in the market is the growing importance of local search advertising. Taiwanese consumers often search for products and services in their local area, and businesses are recognizing the need to target these localized searches. This has led to the development of location-based advertising strategies, where businesses can target consumers based on their geographic location. This trend is driven by the desire for personalized and relevant advertising experiences.

Local special circumstances: Taiwan has a highly competitive business environment, with numerous companies vying for consumers' attention. In such a crowded market, search advertising provides businesses with a cost-effective and targeted way to reach their audience. By leveraging search engine platforms, businesses can ensure that their ads are displayed to users who are actively searching for relevant keywords. This targeted approach allows businesses to maximize their advertising budget and increase their chances of converting users into customers.

Underlying macroeconomic factors: The strong economic growth in Taiwan is also contributing to the development of the Search Advertising market. As the economy continues to expand, businesses are investing more in advertising to capitalize on the growing consumer demand. This increased investment in advertising is driving the growth of the Search Advertising market in Taiwan. Additionally, the government's push for digitalization and the development of the digital economy is creating favorable conditions for the growth of the Search Advertising market. In conclusion, the Search Advertising market in Taiwan is experiencing significant growth and development. This can be attributed to the increasing reliance on the internet by Taiwanese consumers, the adoption of mobile devices, the importance of localized advertising, the competitive business environment, and the strong macroeconomic factors. As businesses continue to recognize the value of search advertising in reaching their target audience, the market is expected to further expand in the coming years.

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.