Social Media Advertising - Belgium

Belgium

Highlights

In Belgium, ad spending in the Social Media Advertising market market is projected to reach US$588.10m in 2024.
The ad spending in this sector is anticipated to exhibit an annual growth rate (CAGR 2024-2030) of 9.18%, leading to a projected market volume of US$996.30m by 2030.
In a global context, the majority of ad spending will be generated China, which is expected to reach US$84.65bn in 2024.
Within the Social Media Advertising market market in Belgium, it is estimated that 69% of total ad spending will be derived from mobile in 2030.
Furthermore, in the Social Media Advertising market market, the number of users in Belgium is projected to amount to 11.1m users by 2030.
In Belgium, social media advertising is increasingly leveraging localized content to enhance engagement and resonate with diverse regional audiences.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Social Media Advertising market in Belgium has been experiencing significant growth in recent years.

Customer preferences: Belgian consumers have shown a strong preference for social media platforms as a means of communication and entertainment. With a high internet penetration rate and a tech-savvy population, social media has become an integral part of daily life in Belgium. As a result, advertisers have recognized the importance of reaching their target audience through these platforms.

Trends in the market: One of the key trends in the Social Media Advertising market in Belgium is the shift towards mobile advertising. With the increasing use of smartphones and tablets, consumers are spending more time on social media platforms through these devices. Advertisers have responded by creating mobile-friendly ads that are tailored to the smaller screens and shorter attention spans of mobile users. This trend is expected to continue as mobile usage continues to rise. Another trend in the market is the growing popularity of video ads on social media platforms. Video content has become increasingly popular among consumers, and advertisers are capitalizing on this trend by creating engaging and shareable video ads. Social media platforms have also introduced features that promote video content, such as autoplay and live streaming, making it easier for advertisers to reach their target audience through video ads.

Local special circumstances: Belgium has a unique linguistic and cultural landscape, with three official languages - Dutch, French, and German. This presents a challenge for advertisers who want to reach a diverse audience across different regions. However, social media platforms offer targeting options that allow advertisers to tailor their ads to specific language preferences and geographic locations. This enables advertisers to effectively reach their target audience in different regions of Belgium.

Underlying macroeconomic factors: The strong growth in the Social Media Advertising market in Belgium can be attributed to several macroeconomic factors. Belgium has a stable economy and a high standard of living, which has resulted in a strong consumer base with disposable income. This provides advertisers with a lucrative market to promote their products and services. Furthermore, the increasing digitalization of businesses and the rise of e-commerce have also contributed to the growth of the Social Media Advertising market in Belgium. As more businesses move online, they are looking for effective ways to reach their target audience and drive sales. Social media advertising offers a cost-effective and targeted solution for businesses to promote their products and services to a wide audience. In conclusion, the Social Media Advertising market in Belgium is experiencing significant growth due to customer preferences for social media platforms, trends such as mobile advertising and video ads, local special circumstances such as language preferences, and underlying macroeconomic factors such as a stable economy and the increasing digitalization of businesses. Advertisers in Belgium are recognizing the importance of social media advertising as a means of reaching their target audience and are investing accordingly to capitalize on this growing market.

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.