The Digital Video Advertising market in Ghana has been experiencing significant growth in recent years, driven by changing customer preferences and the availability of local special circumstances.
Customer preferences: Ghanaian consumers have shown a growing preference for digital video advertising due to several factors. Firstly, the increasing penetration of smartphones and affordable internet access has made it easier for people to access and consume video content on the go. This has led to a rise in demand for digital video advertising, as advertisers seek to reach this expanding audience. Additionally, Ghanaian consumers are increasingly turning away from traditional forms of advertising, such as television and print, in favor of digital platforms. They appreciate the convenience and interactivity that digital video advertising offers, allowing them to engage with brands in a more personalized and immersive way.
Trends in the market: One of the key trends in the digital video advertising market in Ghana is the rise of mobile video advertising. With the widespread adoption of smartphones, more and more Ghanaians are consuming video content on their mobile devices. Advertisers have recognized this trend and are investing heavily in mobile video advertising, creating campaigns that are optimized for mobile viewing and tailored to the preferences of mobile users. This trend is expected to continue as smartphone penetration continues to increase in Ghana. Another trend in the market is the growing popularity of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad inventory, making the process more efficient and cost-effective. This trend is particularly relevant in Ghana, where advertisers are looking for ways to reach their target audience in a cost-effective manner. Programmatic advertising also offers the advantage of real-time data and analytics, allowing advertisers to optimize their campaigns and measure their effectiveness.
Local special circumstances: Ghana has a young and digitally savvy population, with a high percentage of the population under the age of 30. This demographic is more likely to consume digital content and engage with digital advertising, creating a favorable environment for the growth of the digital video advertising market. Additionally, Ghana has a vibrant creative industry, with a growing number of local content creators and influencers. This has led to the emergence of native advertising, where brands collaborate with local content creators to create engaging and authentic video content that resonates with the Ghanaian audience.
Underlying macroeconomic factors: Ghana's economy has been experiencing steady growth in recent years, with an expanding middle class and increasing disposable income. This has created a larger consumer base with more purchasing power, driving demand for products and services. Advertisers are capitalizing on this trend by investing in digital video advertising to reach this growing consumer market. Furthermore, Ghana's stable political environment and improving infrastructure have created a conducive business environment, attracting both local and international advertisers to invest in the digital video advertising market. In conclusion, the Digital Video Advertising market in Ghana is experiencing significant growth due to changing customer preferences, the availability of local special circumstances, and underlying macroeconomic factors. The rise of mobile video advertising, the popularity of programmatic advertising, the young and digitally savvy population, and Ghana's growing economy all contribute to the development of the market. Advertisers in Ghana are increasingly recognizing the potential of digital video advertising and are investing in this medium to reach their target audience effectively.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.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.
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