Key regions: United States, France, Japan, Europe, Germany
The Social Media Advertising market in BRICS is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: In today's digital age, customers are increasingly turning to social media platforms for information, entertainment, and social interaction. As a result, businesses are recognizing the importance of advertising on these platforms to reach and engage with their target audience. Social media advertising offers a personalized and interactive approach, allowing businesses to tailor their messages and content to specific demographics and interests. This level of customization is highly appealing to customers, as it provides relevant and engaging advertising experiences.
Trends in the market: One of the key trends in the Social Media Advertising market in BRICS is the rise of influencer marketing. Influencers, who have a large following on social media platforms, are being utilized by businesses to promote their products and services. This type of advertising is effective because it leverages the trust and influence that influencers have built with their audience. Customers are more likely to trust a recommendation from someone they follow and admire, making influencer marketing a powerful tool for brands. Another trend in the market is the increasing use of video content in social media advertising. Videos have become a popular and engaging form of content, capturing the attention of customers and conveying messages in a visually appealing way. Businesses are leveraging this trend by creating compelling video advertisements that tell a story, evoke emotions, and showcase their products or services. Customers are drawn to these videos, as they provide a more immersive and entertaining advertising experience.
Local special circumstances: Each BRICS country has its own unique set of circumstances that contribute to the development of the Social Media Advertising market. For example, Brazil has a large and active social media user base, making it an attractive market for businesses looking to advertise on these platforms. Additionally, the increasing smartphone penetration in Brazil has further fueled the growth of social media advertising, as more people have access to these platforms. In Russia, social media platforms such as VKontakte and Odnoklassniki are popular among the population. Businesses targeting the Russian market can leverage these platforms to reach a wide audience. Furthermore, the Russian government has implemented regulations on foreign social media platforms, which has led to the development of local alternatives. This has created opportunities for businesses to advertise on these platforms and target the Russian audience.
Underlying macroeconomic factors: The growth of the Social Media Advertising market in BRICS can also be attributed to underlying macroeconomic factors. BRICS countries have experienced rapid economic growth in recent years, resulting in an expanding middle class with increased purchasing power. This growing middle class represents a significant consumer market for businesses, and social media advertising allows them to effectively target and engage with this demographic. Furthermore, the increasing internet penetration and smartphone adoption in BRICS countries have contributed to the growth of the Social Media Advertising market. As more people gain access to the internet and social media platforms, the reach and effectiveness of social media advertising increases. Businesses are capitalizing on this trend by allocating a larger portion of their advertising budgets to social media platforms. Overall, the Social Media Advertising market in BRICS is developing and evolving due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Businesses that recognize and adapt to these factors will be well-positioned to capitalize on the opportunities presented by 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.
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