Advertising - Thailand | Statista Market Forecast

Ad spending in the Advertising market in Thailand is forecasted to reach US$4.84bn in 2024.
The largest market is TV & Video Advertising, with a market volume of US$2.44bn in 2024.
When compared globally, the United States is expected to lead in ad spending, reaching US$425.90bn in 2024.
Within the Advertising market, 52% of total ad spending is projected to come from digital sources in 2030.
The average ad spending per capita in the TV & Video Advertising market is estimated to be US$33.96 in 2024.
Furthermore, Advertising market of the 80% revenue is anticipated to be generated through programmatic advertising in 2030.
Thailand's advertising market is increasingly embracing influencer partnerships to reach tech-savvy consumers in a digital-first landscape.

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 Thailand has experienced significant growth in recent years, driven by changing customer preferences and the increasing importance of digital advertising.

Customer preferences: Thailand has a young and tech-savvy population, with a high smartphone penetration rate. As a result, consumers are increasingly turning to digital platforms for information and entertainment. This has led to a shift in advertising preferences, with businesses investing more in online and mobile advertising to reach their target audience. Additionally, consumers in Thailand are becoming more discerning and selective in their choices, demanding personalized and relevant content. This has prompted advertisers to adopt data-driven strategies to deliver targeted advertisements to consumers.

Trends in the market: One of the key trends in the advertising market in Thailand is the rise of influencer marketing. Influencers, particularly those on social media platforms like Instagram and YouTube, have gained significant popularity among Thai consumers. Advertisers are leveraging the influence of these individuals to promote their products and services, as they are seen as more relatable and trustworthy by consumers. Additionally, the use of video advertising has also increased in Thailand, with businesses recognizing the power of video content in capturing consumers' attention and conveying their brand message effectively. Another trend in the market is the growing importance of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad space, enabling them to target specific audiences and optimize their ad campaigns in real-time. This technology has gained traction in Thailand, as it offers increased efficiency and effectiveness in reaching the right customers at the right time.

Local special circumstances: Thailand has a vibrant and competitive advertising industry, with both local and international agencies operating in the market. Local agencies have a deep understanding of the Thai market and culture, allowing them to create campaigns that resonate with local consumers. On the other hand, international agencies bring global expertise and best practices to the market, offering innovative and creative solutions to advertisers.

Underlying macroeconomic factors: Thailand's strong economic growth and increasing consumer spending power have also contributed to the development of the advertising market. As the economy continues to expand, businesses are investing more in advertising to gain a competitive edge and attract customers. Furthermore, the government's initiatives to promote tourism and attract foreign investment have also had a positive impact on the advertising industry, as businesses in these sectors increase their advertising budgets to reach a wider audience. In conclusion, the advertising market in Thailand is experiencing growth and transformation driven by changing customer preferences, the rise of digital advertising, and the increasing importance of personalized and targeted campaigns. Advertisers are adapting to these trends by investing in influencer marketing, video advertising, and programmatic advertising. The local special circumstances, including the presence of both local and international agencies, contribute to the diversity and competitiveness of the market. Additionally, Thailand's strong economic growth and government initiatives further support the development of the advertising industry in the country.

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.