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Social Media Advertising - Eastern Asia

Eastern Asia
  • In Eastern Asia, ad spending in the Social Media Advertising market market is projected to reach US$98.05bn in 2024.
  • This ad spending is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 10.57%, leading to a projected market volume of US$179.10bn by 2030.
  • In a global context, the majority of ad spending will be generated China, with an estimated US$84.65bn in 2024.
  • Within the Social Media Advertising market market, it is anticipated that 86% of total ad spending will be generated through mobile by 2030.
  • Furthermore, the number of users in the Social Media Advertising market market is expected to reach 1.5bn users by 2030.
  • In Eastern Asia, particularly in South Korea, brands are increasingly leveraging social media advertising to engage tech-savvy consumers and drive brand loyalty.

Definition:
Social Media Advertising is a form of online digital marketing in which paid banner and video ad campaigns are run on social media platforms to reach the target audiences. Marketers can promote brands, products, and services and increase purchase intention.

Additional information:
Social Media Advertising comprises advertising spending, users, average revenue per user, and key players. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Social Media Advertising include Facebook, Instagram, Twitter, TikTok, LinkedIn, Weibo, Naver, and Kakao. For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • All ad spending generated by social networks
  • Sponsored posts

Out-Of-Scope

  • Ads within online games playable on social networks
  • Revenue generated from membership subscriptions or premium fees
Social Media Advertising: market data & analysis - Cover

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Social Media Advertising: market data & analysis

Study Details

    Ad Spending

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Analyst Opinion

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

    Customer preferences:
    Customers in Eastern Asia have shown a strong preference for social media platforms as a means of communication and entertainment. With a large population and high internet penetration rates, these platforms have become an integral part of people's daily lives. Additionally, social media is seen as a convenient and effective way for businesses to reach their target audience and promote their products or services.

    Trends in the market:
    One of the key trends in the Social Media Advertising market in Eastern Asia is the increasing adoption of mobile advertising. With the widespread use of smartphones in the region, mobile advertising offers a highly targeted and personalized approach to reaching consumers. Social media platforms have optimized their advertising capabilities for mobile devices, allowing businesses to create engaging and interactive ads that capture the attention of users. Another trend in the market is the rise of influencer marketing. Influencers, who are individuals with a large following on social media platforms, have become powerful brand ambassadors. They have the ability to influence consumer behavior and drive engagement with brands. Businesses in Eastern Asia are leveraging the popularity of influencers to promote their products or services, as it provides a more authentic and relatable way to connect with consumers.

    Local special circumstances:
    Eastern Asia is a diverse region with different cultural and linguistic backgrounds. This poses a challenge for businesses looking to advertise on social media platforms. In order to effectively reach their target audience, businesses need to tailor their advertising messages and content to the specific cultural preferences and language of each country. Localization is key in order to resonate with consumers and build brand loyalty.

    Underlying macroeconomic factors:
    The Social Media Advertising market in Eastern Asia is also influenced by underlying macroeconomic factors. The region has experienced rapid economic growth in recent years, leading to an increase in disposable income and consumer spending. This has created a favorable environment for businesses to invest in advertising and marketing activities, including social media advertising. Additionally, the high internet penetration rates in Eastern Asia have provided a strong foundation for the growth of the Social Media Advertising market, as more people have access to online platforms and are actively engaged in social media. In conclusion, the Social Media Advertising market in Eastern Asia is thriving due to customer preferences for social media platforms, the adoption of mobile advertising, the rise of influencer marketing, the need for localization, and the underlying macroeconomic factors of rapid economic growth and high internet penetration rates. Businesses in the region are leveraging these trends and circumstances to effectively reach their target audience and drive engagement with their brands.

    Reach

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    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.

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    Social Media Advertising: market data & analysis - BackgroundSocial Media Advertising: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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    Social media advertising and marketing worldwide – statistics & facts

    Social media is no longer just for connecting with friends; now brands meet customers, and trends are born in these platforms. As social media advertising spending is projected to continue to grow during the second half of the decade, buying behavior is consistently impacted by likes, comments, and shares. Social influence has led marketing strategies to align with platforms that promote video content. In 2024, TikTok and social media ranked among the top three leading consumer trends according to marketers surveyed around the globe, making such channels unavoidable for most advertising strategies. The social media advertising market is not limited to one region; countries across all continents are investing in social media advertising, with the United States and China recording the highest expenditures worldwide.
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