Social Media Advertising - Taiwan

In Taiwan, ad spending in the Social Media Advertising market market is projected to reach US$877.90m in 2024.
This spending is expected to exhibit an annual growth rate (CAGR 2024-2030) of 7.14%, leading to a projected market volume of US$1.33bn 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.
By 2030, it is anticipated that 87% of total ad spending in the Social Media Advertising market market in Taiwan will be generated through mobile channels.
Additionally, the number of users in the Social Media Advertising market market in Taiwan is expected to amount to 19.3m users by 2030.
In Taiwan, social media advertising is increasingly prioritizing influencer partnerships, reflecting a cultural shift towards authentic engagement and local brand storytelling.

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.

All ad spending generated by social networks
Sponsored posts

Ads within online games playable on social networks
Revenue generated from membership subscriptions or premium fees

The Social Media Advertising market in Taiwan is experiencing significant growth and development due to several factors.

Customer preferences: Taiwanese consumers are increasingly turning to social media platforms for entertainment, information, and social interaction. With a high smartphone penetration rate and a tech-savvy population, social media has become an integral part of daily life in Taiwan. As a result, advertisers are recognizing 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 Taiwan is the rise of influencer marketing. Influencers, who have a large following on social media platforms, are seen as trusted voices by their followers. Advertisers are leveraging this trust and partnering with influencers to promote their products or services. This form of advertising allows brands to reach a highly engaged audience and generate authentic content that resonates with consumers. Another trend in the market is the increasing use of video content in social media advertising. Videos have become a popular format for consuming content on social media platforms, and advertisers are capitalizing on this trend. They are creating engaging and visually appealing videos to capture the attention of users and deliver their brand message effectively.

Local special circumstances: Taiwan has a unique social media landscape, with platforms such as Facebook, Line, and Instagram being particularly popular among Taiwanese users. Each platform has its own characteristics and user base, and advertisers need to tailor their strategies accordingly. For example, Facebook is widely used by all age groups, while Line is more popular among younger users. Advertisers need to understand the demographics and preferences of each platform to effectively target their audience.

Underlying macroeconomic factors: The growing Social Media Advertising market in Taiwan is also influenced by macroeconomic factors. Taiwan has a strong and stable economy, with a high GDP per capita and a large consumer market. This provides a favorable environment for businesses to invest in advertising and reach a wide audience. Additionally, the government has been supportive of the digital advertising industry, implementing policies and regulations that encourage innovation and growth. In conclusion, the Social Media Advertising market in Taiwan is thriving due to the increasing customer preferences for social media platforms, the rise of influencer marketing, the popularity of video content, the unique social media landscape, and the favorable macroeconomic factors. Advertisers in Taiwan are leveraging these trends and circumstances to effectively reach their target audience and drive business growth.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

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.