Market Insights Advertising & Media Advertising

Social Media Advertising - Sweden

Sweden

In Sweden, ad spending in the Social Media Advertising market is projected to reach US$1.20bn in 2024.
This ad spending is expected to exhibit an annual growth rate (CAGR 2024-2029) of 11.41%, leading to a projected market volume of US$2.06bn by 2029.
In a global context, the majority of ad spending will be generated China, which is expected to reach US$84,650.00m in 2024.
Within Sweden's Social Media Advertising market, 82% of total ad spending is anticipated to come from mobile sources by 2029.
Additionally, the number of users in the Social Media Advertising market in Sweden is expected to reach 9,479.0k users by 2029.
In Sweden, social media advertising continues to evolve, with brands increasingly prioritizing authenticity and user engagement to resonate with a digitally savvy audience.

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

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Analyst Opinion

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

Customer preferences: Swedish consumers have shown a strong inclination towards social media platforms for communication, entertainment, and information sharing. This has led to a high level of engagement on these platforms, creating a valuable opportunity for advertisers to reach their target audience. Additionally, Swedish consumers appreciate personalized and relevant content, which social media advertising can provide.

Trends in the market: One of the key trends in the Social Media Advertising market in Sweden is the increasing adoption of mobile advertising. With a high smartphone penetration rate and the availability of high-speed internet, Swedish consumers are spending more time on their mobile devices, including social media platforms. Advertisers are recognizing this trend and are investing heavily in mobile advertising to effectively reach their target audience. Another trend in the market is the rise of influencer marketing. Swedish consumers trust the opinions and recommendations of influencers on social media platforms, making influencer marketing an effective strategy for brands to promote their products or services. This trend has led to the emergence of a new breed of influencers in Sweden who have built a strong following and can significantly impact consumer behavior.

Local special circumstances: Sweden has a highly digitalized society with a strong focus on sustainability and privacy. This has influenced the Social Media Advertising market in the country. Advertisers are increasingly incorporating sustainable and ethical practices into their campaigns to align with the values of Swedish consumers. Moreover, data privacy regulations are stringent in Sweden, which has led to a greater emphasis on transparency and consent in social media advertising.

Underlying macroeconomic factors: The strong growth of the Social Media Advertising market in Sweden can be attributed to several macroeconomic factors. Sweden has a robust economy with high disposable income levels, which allows consumers to engage in online shopping and drives demand for advertising. Additionally, the country has a high internet penetration rate and a well-developed digital infrastructure, providing a conducive environment for social media advertising. In conclusion, the Social Media Advertising market in Sweden is witnessing significant growth and development due to customer preferences for social media platforms, the adoption of mobile advertising, the rise of influencer marketing, local special circumstances such as sustainability and privacy concerns, and underlying macroeconomic factors. Advertisers in Sweden are leveraging these trends and factors to effectively reach and engage with their target audience, driving the growth of the market.

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.