Advertising - Taiwan | Statista Market Forecast

Ad spending in the Advertising market in Taiwan is forecasted to reach US$6.18bn in 2024.
The largest market is TV & Video Advertising, with a market volume of US$1.87bn in 2024.
When compared globally, the United States will lead in ad spending, reaching US$425.90bn in 2024.
Within the Advertising market of Taiwan, 75% of total ad spending is expected to come from digital sources by 2030.
The average ad spending per capita in the TV & Video Advertising sector is projected to be US$78.14 in 2024.
Additionally, in the Advertising market of Taiwan, Advertising market of 83% revenue will be generated through programmatic advertising by 2030.
Taiwan's advertising market is witnessing a shift towards digital platforms, with a focus on interactive and personalized campaigns to engage tech-savvy consumers.

Definition:
Advertising spending refers to expenses for promotional strategies with which brands or businesses purchase advertising space to promote products or services. The primary purposes of advertising include creating awareness, generating interest, and persuading consumers to take a particular action such as purchasing a product, visiting a website, or supporting brands. Advertisers use advertising to reach their target audience while media companies and advertising agencies use it as a source of income.

Structure:
The advertising spending consists of two main channels (traditional advertising and digital advertising). Traditional Advertising refers to above-the-line media that delivers commercial messages to broad audiences. This includes mass media such as traditional TV, traditional radio, printed newspapers, printed magazines, and traditional out-of-home (OOH) advertising formats. Digital Advertising uses the internet to deliver marketing messages to internet users in various forms. This includes digital video, search engine, social media, digital out-of-home, digital banner, digital audio, digital classifieds, and influencer advertising.

Additional information:
The market comprises advertising spending, share by advertising channel, users, average revenue per user, advertising share by industry, ad spending by medium, and digital ad spending share (programmatic and non-programmatic). The market only displays B2B spending and users for the above-mentioned channels. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions for each market can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional advertising such as non-digital ads for TV and radio, as well as out-of-home advertising and print advertising
Digital advertising such as online ads for video, banner, audio, classifieds, and search engines, as well as digital out-of-home, social media, in-app, and connected TV advertising
Influencer advertising

Sponsorships/events and promotion
Product placement
Commission-based affiliate systems

The Advertising market in Taiwan has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Taiwan have shifted towards digital advertising, as more consumers are spending time online and using mobile devices. This has led to an increase in digital ad spending, with companies investing in online platforms, social media advertising, and mobile marketing strategies. Additionally, there is a growing demand for personalized and targeted advertising, as consumers expect relevant and tailored messages. As a result, companies are investing in data analytics and programmatic advertising to deliver more effective campaigns. Trends in the market indicate a shift towards influencer marketing and native advertising. Influencer marketing has gained popularity in Taiwan, as consumers trust recommendations from influencers and seek authentic content. Brands are collaborating with influencers to promote their products or services, leveraging their large social media followings. Native advertising, which seamlessly integrates advertisements into the content, is also on the rise. This form of advertising is less intrusive and provides a better user experience, leading to higher engagement rates. Local special circumstances in Taiwan have contributed to the development of the advertising market. The country has a highly competitive retail industry, with numerous brands vying for consumers' attention. In order to stand out in the crowded market, companies are investing in advertising to build brand awareness and attract customers. Additionally, Taiwan has a high internet penetration rate and a tech-savvy population, making it an ideal market for digital advertising. The government has also been supportive of the advertising industry, providing incentives and promoting the development of creative and innovative campaigns. Underlying macroeconomic factors have also played a role in the growth of the advertising market in Taiwan. The country has a stable economy and a growing middle class, which has led to increased consumer spending. As companies compete for a share of the consumer's wallet, advertising has become a crucial tool for reaching and influencing potential customers. Furthermore, Taiwan is home to several global technology companies, such as HTC and Acer, which have contributed to the development of the digital advertising industry. In conclusion, the Advertising market in Taiwan is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital advertising, influencer marketing, and native advertising reflects the evolving needs and expectations of consumers. As technology continues to advance and consumer behavior changes, the advertising industry in Taiwan is expected to continue its upward trajectory.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, 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 some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).

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

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.