Market Insights Digital Digital Advertising

Banner Advertising - Singapore

Singapore

Ad spending in the Banner Advertising market is projected to reach US$527.0m in 2024.
Ad spending is expected to show an annual growth rate (CAGR 2024-2028) of 5.63%, resulting in a projected market volume of US$656.2m by 2028.
In global comparison, most ad spending will be generated in the United States (US$67,120m in 2024).
The average ad spending per internet user in the Banner Advertising market is projected to amount to US$90.0 in 2024.
In the Banner Advertising market, US$328.1m of total ad spending will be generated through mobile in 2028.

Key regions: United States, India, Australia, Germany, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

On October 27, 1994, the first digital banner advertisement with the text “Have you ever clicked your mouse right HERE? YOU WILL” in colorful font was released. Since then, digital banner advertising has grown in popularity and evolved from displaying ads in predetermined places to targeting by using consumer data and finally, to remarketing, in which ads are shown repeatedly based on consumer behavior and interest. Marketers continue to utilize digital banner advertising because it is an effective way to raise brand awareness, generate leads, and retarget an audience.

The expansion of digital banner advertising is primarily due to the improved internet infrastructure and technology, as well as the decreasing prices of smart devices such as computers, tablets, and smartphones. In the past years, the internet infrastructure has seen considerable change and is now faster and cheaper. Furthermore, because internet-enabled devices have become more affordable, allowing more people to purchase them and use them daily, digital banner advertising is expected to grow significantly.

Before the COVID-19 pandemic, digital banner advertising was showing signs of steady growth. The pandemic accelerated digital adoption, resulting in exponential growth in digital advertising, especially digital banner advertising. The most recent digital banner advertising strategy is remarketing, which has proven to be more accurate and less complicated than others, which contributes to the strategy’s success. We predict consistent growth in digital banner advertising in the coming years.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on banner advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers banner advertising on websites accessed via desktop PCs, on mobile-enabled websites, in apps, or on social media.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry association reports, third-party reports, and survey results from our primary research (e.g., Statista Global Consumer Survey) to analyze the markets. 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.