Market Insights Advertising & Media Advertising

Social Media Advertising - Southern Europe

Southern Europe

In Southern Europe, ad spending in the Social Media Advertising market is projected to reach US$5.80bn in 2024.
This spending is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.31%, resulting in a projected market volume of US$9.05bn 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 Southern Europe, it is anticipated that 70% of total ad spending will be generated through mobile by 2029.
Additionally, the number of users in the Social Media Advertising market is expected to reach 210.1m users by 2029.
As Italy embraces a surge in influencer marketing, brands are increasingly prioritizing authentic engagement strategies within their social media advertising campaigns.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Social Media Advertising market in Southern Europe is experiencing significant growth and development. Customer preferences in Southern Europe are shifting towards digital platforms, with social media becoming an increasingly popular channel for communication and information sharing. This has led to a rise in social media usage, creating a lucrative opportunity for advertisers to reach a large and engaged audience. Trends in the market indicate that businesses in Southern Europe are recognizing the potential of social media advertising and are investing more in this form of marketing. This is driven by the desire to reach a younger and tech-savvy demographic that spends a significant amount of time on social media platforms. Additionally, the ability to target specific audiences based on their interests, demographics, and online behavior has made social media advertising an attractive option for businesses looking to maximize their return on investment. Local special circumstances also contribute to the growth of the Social Media Advertising market in Southern Europe. The region has a high internet penetration rate and a strong presence of popular social media platforms such as Facebook, Instagram, and Twitter. This provides businesses with a ready-made audience and a platform to engage with customers on a personal level. Furthermore, Southern European countries have a rich cultural heritage and a strong sense of community, which makes social media an ideal channel for sharing and promoting local products and services. Underlying macroeconomic factors also play a role in the development of the Social Media Advertising market in Southern Europe. The region has experienced 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 rise of e-commerce and online shopping has further fueled the demand for social media advertising as businesses seek to reach customers in a more targeted and cost-effective manner. In conclusion, the Social Media Advertising market in Southern Europe is growing rapidly due to changing customer preferences, favorable local circumstances, and underlying macroeconomic factors. Businesses in the region are recognizing the potential of social media advertising and are investing more in this form of marketing to reach a large and engaged audience. As social media usage continues to increase and technology advances, the market is expected to further expand 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.