Advertising - ASEAN

ASEAN

Ad spending in the Advertising market in ASEAN is forecasted to reach US$23.31bn in 2024.
The largest market within ASEAN is TV & Video Advertising with a market volume of US$8.51bn in 2024.
When compared globally, the United States will lead in ad spending, reaching US$422.30bn in 2024.
Within the Advertising market of ASEAN, 59.87% of total ad spending is expected to come from digital sources by 2029.
The average ad spending per capita in the TV & Video Advertising market of ASEAN is projected to be US$12.31 in 2024.
Moreover, within the Advertising market of ASEAN, Advertising market of the 80.46% revenue will be generated through programmatic advertising in 2029.
In ASEAN, digital advertising is rapidly overtaking traditional media, with a focus on mobile platforms to reach the tech-savvy population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Advertising market in ASEAN is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences in the ASEAN region are shifting towards digital advertising. With the increasing penetration of internet and smartphone usage, consumers are spending more time online. This has led to a higher demand for digital advertising platforms such as social media, search engines, and mobile apps. Advertisers are recognizing the importance of reaching consumers through these digital channels in order to effectively target their audience. Trends in the market indicate that programmatic advertising is gaining popularity in ASEAN. Programmatic advertising allows for automated buying and selling of ad inventory, enabling advertisers to reach their target audience more efficiently. This trend is driven by the increasing availability of data and advanced analytics tools, which help advertisers make more informed decisions and optimize their advertising campaigns. Local special circumstances also play a role in the development of the Advertising market in ASEAN. Each country in the region has its own unique characteristics and cultural nuances, which influence consumer behavior and advertising strategies. For example, in countries like Thailand and Indonesia, influencer marketing is highly effective due to the strong influence of social media personalities on consumer purchasing decisions. On the other hand, in countries like Singapore and Malaysia, there is a growing demand for personalized and interactive advertising experiences. Underlying macroeconomic factors contribute to the growth of the Advertising market in ASEAN. The region has been experiencing strong economic growth, with rising disposable incomes and a growing middle class. This has led to increased consumer spending and a higher demand for products and services. Advertisers are capitalizing on this trend by increasing their advertising budgets to reach the expanding consumer base. In conclusion, the Advertising market in ASEAN is developing due to customer preferences shifting towards digital advertising, the growing popularity of programmatic advertising, local special circumstances influencing advertising strategies, and underlying macroeconomic factors such as strong economic growth. Advertisers in the region are adapting to these trends and leveraging them to effectively reach their target audience.

Methodology

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). 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).