Social Media Advertising - Zimbabwe

  • Zimbabwe
  • In Zimbabwe, ad spending in the Social Media Advertising market is projected to reach US$12.44m in 2024.
  • The ad spending in this sector is expected to exhibit an annual growth rate (CAGR 2024-2029) of 10.37%, leading to a projected market volume of US$20.37m by 2029.
  • When compared globally, the majority of ad spending will be generated China, which is expected to reach US$84,650.00m in 2024.
  • Within the Social Media Advertising market in Zimbabwe, it is anticipated that 70% of total ad spending will be generated through mobile by 2029.
  • Furthermore, the number of users in the Social Media Advertising market in Zimbabwe is expected to amount to 2,813.0k users by 2029.
  • In Zimbabwe, the rise of mobile internet accessibility is driving a significant shift towards more innovative social media advertising strategies among local brands.

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

 
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Analyst Opinion

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

Customer preferences:
In Zimbabwe, there is a growing preference among customers for social media advertising. This is mainly due to the increasing popularity and usage of social media platforms such as Facebook, Twitter, and Instagram. Customers are spending more time on these platforms, and advertisers are taking advantage of this by targeting their ads towards these platforms. Additionally, customers in Zimbabwe are becoming more tech-savvy and are embracing digital advertising as a way to stay connected and informed.

Trends in the market:
One of the key trends in the Social Media Advertising market in Zimbabwe is the rise of influencer marketing. Influencers, who are individuals with a large following on social media, have become powerful marketing tools for brands. They are able to reach a wide audience and have a strong influence on consumer behavior. In Zimbabwe, influencers are being used by brands to promote their products or services, and this trend is expected to continue to grow in the coming years. Another trend in the market is the increasing use of video content in social media advertising. Videos have become a popular form of content on social media platforms, and advertisers are leveraging this trend by creating engaging and visually appealing videos to capture the attention of their target audience. Videos have proven to be highly effective in conveying messages and driving engagement, and advertisers in Zimbabwe are recognizing the value of incorporating video content into their social media advertising strategies.

Local special circumstances:
Zimbabwe has a relatively young population, with a large percentage of the population being under the age of 35. This demographic is highly active on social media platforms and is more likely to engage with social media advertising. Advertisers in Zimbabwe are targeting this younger demographic by creating content that is relevant and relatable to their interests and preferences. Another special circumstance in Zimbabwe is the increasing availability of affordable smartphones and internet connectivity. This has led to a significant increase in the number of people accessing social media platforms, creating a larger audience for social media advertising. Advertisers are capitalizing on this by investing in social media advertising to reach a wider audience and increase brand visibility.

Underlying macroeconomic factors:
The growth of the Social Media Advertising market in Zimbabwe can also be attributed to the country's improving economic conditions. Zimbabwe has experienced positive economic growth in recent years, leading to increased consumer spending power. As consumers have more disposable income, they are more likely to engage with social media advertising and make purchases based on the ads they see. Furthermore, the COVID-19 pandemic has accelerated the shift towards digital advertising in Zimbabwe. With restrictions on physical gatherings and limited access to traditional advertising channels, businesses have turned to social media advertising as a cost-effective and efficient way to reach their target audience. This has further fueled the growth of the Social Media Advertising market in Zimbabwe. In conclusion, the Social Media Advertising market in Zimbabwe is developing rapidly due to customer preferences for digital advertising, trends such as influencer marketing and video content, local special circumstances such as a young population and increasing internet connectivity, and underlying macroeconomic factors such as improving economic conditions and the impact of the COVID-19 pandemic.

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.

Overview

  • Ad Spending
  • Key Players
  • Analyst Opinion
  • Reach
  • Global Comparison
  • Methodology
  • Key Market Indicators
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