Digital Advertising - Azerbaijan

Azerbaijan

Ad spending in the Digital Advertising market is projected to reach US$182.0m in 2024.
The largest market is Search Advertising with a market volume of US$78.0m in 2024.
In global comparison, most ad spending will be generated in the United States (US$298bn in 2024).
The average ad spending per user in the Search Advertising market is projected to amount to US$9.1 in 2024.
In the Digital Advertising market, 47% of total ad spending will be generated through mobile in 2028.
In the Digital Advertising market, 83% of the Digital Advertising revenue will be generated through programmatic advertising in 2028.

Key regions: United States, China, Europe, Asia, Japan

Market

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Region comparison

Currency

Analyst Opinion

Digital advertising has overtaken traditional advertising. In 2018, digital advertising became the dominant advertising medium, accounting for more than half of global advertising spending. The Digital Advertising market is growing because people's behavior has shifted from the offline to the online world. Within 10 years, the number of internet users has grown to twice its size from 2.3 billion in 2012 to 5.1 billion in 2022.

A variety of large tech companies lead the Digital Advertising market. Key players in the market include Alphabet, Meta Platforms (Facebook), Microsoft, Facebook, Amazon, Tencent, Baidu, ByteDance, and others. Growth in the Video, Banner, Social Media, and Search Advertising markets is comparably higher than in the Classifieds market due to the rapid increase in social media consumption and online shopping.

Before the pandemic, the Digital Advertising market was showing signs of a solid growth rate. However, the pandemic has accelerated digital adoption, and the effect will permanently stay, which will lead to more robust growth of the Digital Advertising market in the following years.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers search advertising, banner advertising, video advertising, classifieds, and social media advertising.

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., Statista Global Consumer Survey). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, 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 case market dynamics change.