Market Insights Advertising & Media Advertising

Social Media Advertising - Armenia

Armenia

In Armenia, ad spending in the Social Media Advertising market is projected to reach US$19.29m in 2024.
This spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 9.87%, leading to a projected market volume of US$30.88m by 2029.
In a global context, the majority of ad spending will be generated China, with an estimated US$84,650.00m in 2024.
Within the Social Media Advertising market in Armenia, it is expected that 70% of total ad spending will be derived from mobile platforms by 2029.
Furthermore, the number of users in the Social Media Advertising market in Armenia is projected to reach 2,538.0k users by 2029.
In Armenia, social media advertising is increasingly becoming a strategic focus for brands seeking to engage the tech-savvy youth demographic.

Key regions: United States, France, Japan, Europe, Germany

Market

Region

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Currency

Analyst Opinion

The Social Media Advertising market in Armenia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Armenia have shifted towards digital platforms and social media channels for communication and information sharing. With the increasing popularity of social media platforms such as Facebook, Instagram, and YouTube, advertisers have recognized the potential of reaching a large and engaged audience through these channels. This has led to a surge in demand for social media advertising services in the country. Trends in the market indicate that businesses in Armenia are increasingly investing in social media advertising to promote their products and services. This trend can be attributed to the widespread adoption of smartphones and internet connectivity, which has made social media platforms easily accessible to a large portion of the population. Additionally, the rise of influencer marketing and the use of user-generated content have further fueled the growth of social media advertising in Armenia. Local special circumstances also contribute to the development of the Social Media Advertising market in Armenia. The country has a relatively young population with a high level of internet penetration, making it an attractive market for advertisers. Furthermore, the Armenian diaspora plays a significant role in driving the demand for social media advertising, as businesses seek to target this global audience through online channels. Underlying macroeconomic factors such as economic growth and increased consumer spending power have also influenced the growth of the Social Media Advertising market in Armenia. As the economy continues to expand, businesses are allocating a larger portion of their marketing budgets to digital advertising, including social media platforms. Moreover, the relatively low cost of social media advertising compared to traditional forms of advertising makes it an attractive option for businesses with limited resources. In conclusion, the Social Media Advertising market in Armenia is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As businesses recognize the potential of social media platforms in reaching their target audience, the demand for social media advertising services is expected to continue to rise in Armenia.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on social media advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers social media advertising generated by social networks or business networks such as Facebook, Tiktok, Instragram, Pinterest, and LinkedIn.

Modeling approach:

A combined top-down and bottom-up approach determines the market size. Starting with the top-down approach, we calculate global social media advertising by aggregating revenues from key players (Meta Platforms (Facebook and Instagram), ByteDance (Tiktok and Douyin), Twitter, Snapchat, and Microsoft (LinkedIn)). 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, social media 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.