Market Insights Advertising & Media Advertising

Digital Banner Advertising - Mexico

Mexico

Ad spending in the Digital Banner Advertising market in Mexico is forecasted to reach US$1.46bn in 2024.
The expected annual growth rate (CAGR 2024-2029) is 5.41%, leading to a projected market volume of US$1.90bn by 2029.
When compared globally, the United States will lead in ad spending, reaching US$67,120.00m in 2024.
The average ad spending per internet user in the Digital Banner Advertising market is projected to be US$14.28 in 2024.
By 2029, 59.00% of total ad spending in the market will come from mobile.
Mexico's digital banner advertising market is rapidly evolving, with a surge in programmatic ad buying and increased mobile ad spending.

Key regions: United Kingdom, France, India, Europe, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Digital Banner Advertising market in Mexico is experiencing significant growth and development.

Customer preferences: Mexican consumers are increasingly relying on digital platforms for information, entertainment, and communication. This shift in consumer behavior has led to a growing demand for digital advertising, including banner ads. Furthermore, Mexican consumers are becoming more comfortable with online shopping, leading to increased opportunities for digital advertising to reach potential customers.

Trends in the market: One of the key trends in the Digital Banner Advertising market in Mexico is the increasing use of mobile devices. With the majority of the population owning smartphones, advertisers are leveraging mobile banner ads to reach consumers on-the-go. Mobile banner ads are highly effective in capturing the attention of users and driving engagement. Another trend in the market is the rise of programmatic advertising. Programmatic advertising allows for automated buying and selling of digital ad space, making it more efficient and cost-effective for advertisers. This trend is driving the growth of the Digital Banner Advertising market in Mexico, as advertisers are able to reach their target audience more accurately and in real-time.

Local special circumstances: Mexico has a large and young population, with a high internet penetration rate. This creates a favorable environment for the growth of the Digital Banner Advertising market. Additionally, Mexico has a strong e-commerce sector, with a significant number of online retailers. This provides ample opportunities for digital advertising to reach potential customers and drive sales.

Underlying macroeconomic factors: The Mexican economy has been experiencing steady growth in recent years, which has contributed to the development of the Digital Banner Advertising market. As the economy continues to grow, businesses are investing more in advertising to capture the attention of consumers and drive sales. Furthermore, the government has been implementing policies to promote the digital economy, which has also contributed to the growth of the Digital Banner Advertising market in Mexico. In conclusion, the Digital Banner Advertising market in Mexico is experiencing significant growth and development. This is driven by the changing customer preferences, including the increasing use of mobile devices and the rise of programmatic advertising. Additionally, local special circumstances, such as the large and young population and the strong e-commerce sector, are contributing to the growth of the market. The underlying macroeconomic factors, including the steady economic growth and government policies, are also supporting the development of the Digital Banner Advertising market in Mexico.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital banner advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers digital 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 reports and survey results from our primary research (e.g., Consumer Insights) 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.