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SMS Advertising - Mexico

Mexico

Ad spending in the SMS Advertising market in Mexico is forecasted to reach US$6.70m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.95%, leading to a projected market volume of US$7.75m by 2029.
When compared globally, the United States is expected to generate the highest ad spending (US$310.40m in 2024).
The average ad spending per capita in the SMS Advertising market is estimated to be US$0.05 in Mexico in 2024.
Mexico's SMS Advertising market is booming, driven by the country's high mobile phone penetration and increasing demand for targeted marketing strategies.

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

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Analyst Opinion

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

Customer preferences: Mexican consumers are increasingly using mobile phones as their primary means of communication. With the proliferation of smartphones and affordable data plans, people are relying on SMS messages for various purposes, including advertising. SMS advertising offers a direct and immediate way to reach consumers, making it an attractive option for businesses looking to promote their products or services. Additionally, SMS messages have a high open rate, ensuring that the advertising content is seen by the target audience.

Trends in the market: One of the key trends in the SMS Advertising market in Mexico is the increasing adoption of SMS campaigns by businesses of all sizes. Small and medium-sized enterprises (SMEs) are leveraging SMS advertising to reach a wider audience and compete with larger companies. This trend is driven by the affordability and effectiveness of SMS advertising compared to traditional marketing channels. Another trend in the market is the integration of SMS advertising with other digital marketing strategies. Businesses are combining SMS campaigns with social media advertising, email marketing, and mobile apps to create a comprehensive and cohesive marketing strategy. This integration allows businesses to reach consumers through multiple channels, increasing the effectiveness of their advertising efforts.

Local special circumstances: Mexico has a large and growing population, with a significant portion of the population being young and tech-savvy. This demographic is highly receptive to SMS advertising, making Mexico an attractive market for businesses looking to expand their reach. Additionally, the Mexican government has implemented regulations to protect consumers from unsolicited SMS messages, ensuring that SMS advertising is targeted and relevant.

Underlying macroeconomic factors: The growth of the SMS Advertising market in Mexico can be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in consumer spending. This has created a favorable environment for businesses to invest in marketing and advertising. Furthermore, the rise of e-commerce and online shopping has created new opportunities for businesses to reach consumers through SMS advertising. In conclusion, the SMS Advertising market in Mexico is thriving due to customer preferences for mobile communication, the adoption of SMS campaigns by businesses, the integration of SMS advertising with other marketing strategies, the young and tech-savvy population, and favorable macroeconomic factors. As the market continues to evolve, businesses will need to stay updated with the latest trends and technologies to effectively engage with Mexican consumers through SMS advertising.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on SMS Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for creating and sending SMS advertisements.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights), as well as performance factors (e.g., user penetration, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet coverage. 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 relevant 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. The main drivers are GDP per capita, consumer spending per capita, and internet coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a 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). Data from Consumer Insightsis reweighted for representativeness.