Market Insights Advertising & Media Advertising

Social Media Advertising - Bangladesh

Bangladesh

In Bangladesh, ad spending in the Social Media Advertising market is projected to reach US$74.87m in 2024.
This spending is expected to exhibit an annual growth rate (CAGR 2024-2029) of 10.72%, leading to a projected market volume of US$124.60m by 2029.
In a global context, the majority of ad spending will be generated China, with a forecast of US$84,650.00m in 2024.
Within the Social Media Advertising market in Bangladesh, 70% of total ad spending is anticipated to be generated through mobile by 2029.
Furthermore, the number of users in the Social Media Advertising market in Bangladesh is expected to reach 158,900.0k users by 2029.
In Bangladesh, the surge in mobile internet penetration is significantly enhancing the effectiveness and reach of social media advertising campaigns.

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

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Analyst Opinion

The Social Media Advertising market in Bangladesh is experiencing significant growth and development.

Customer preferences: Bangladesh has a young and tech-savvy population, with a high percentage of internet users. This demographic is increasingly turning to social media platforms for communication, entertainment, and information. As a result, businesses are recognizing the importance of reaching these consumers through social media advertising.

Trends in the market: One major trend in the Social Media Advertising market in Bangladesh is the increasing use of video content. Videos are highly engaging and have the potential to go viral, reaching a large audience. Businesses are leveraging this trend by creating compelling video ads that capture the attention of social media users. Additionally, influencer marketing is gaining traction in Bangladesh, with businesses partnering with popular social media influencers to promote their products and services. This strategy allows businesses to tap into the influencer's large and loyal following, increasing brand awareness and driving sales.

Local special circumstances: One unique aspect of the Social Media Advertising market in Bangladesh is the dominance of Facebook. Facebook is the most popular social media platform in the country, with a large user base. As a result, businesses in Bangladesh are heavily focused on advertising on Facebook and leveraging its extensive targeting capabilities. This includes targeting specific demographics, interests, and behaviors, allowing businesses to reach their desired audience effectively.

Underlying macroeconomic factors: The growing Social Media Advertising market in Bangladesh can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, leading to an increase in consumer spending power. This has created a favorable environment for businesses to invest in advertising and reach a larger customer base. Additionally, the government of Bangladesh has been actively promoting digitalization and the use of technology, which has further fueled the growth of the Social Media Advertising market. Furthermore, the increasing penetration of smartphones and affordable internet access has made social media platforms more accessible to a wider population, driving the demand for social media advertising. In conclusion, the Social Media Advertising market in Bangladesh is thriving due to the preferences of the young and tech-savvy population, the increasing use of video content and influencer marketing, the dominance of Facebook, and the underlying macroeconomic factors such as economic growth, government support, and improved internet access. As businesses continue to recognize the importance of social media advertising in reaching their target audience, the market is expected to continue growing and evolving in the coming years.

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.