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SMS Advertising - Norway

Norway

Ad spending in the SMS Advertising market in Norway is forecasted to reach US$2.62m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.53%, leading to an estimated market volume of US$2.69m 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 projected to be US$0.48 in Norway in 2024.
Norwegian companies are increasingly leveraging SMS advertising to reach target audiences effectively in the competitive advertising market landscape.

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

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Analyst Opinion

The SMS Advertising market in Norway has been experiencing steady growth in recent years.

Customer preferences: Norwegian consumers have shown a growing preference for SMS advertising as a means of communication with businesses. This can be attributed to several factors, including the convenience and immediacy of SMS messages. Customers appreciate receiving targeted and personalized messages directly to their mobile phones, allowing them to stay informed about promotions, discounts, and new products or services. Additionally, SMS advertising provides a non-intrusive way for businesses to reach their customers, as messages can be easily ignored or deleted if not of interest.

Trends in the market: One of the key trends in the SMS Advertising market in Norway is the increasing adoption of mobile devices and smartphones. With a high smartphone penetration rate, Norwegians are highly connected and rely heavily on their mobile devices for various activities, including receiving and responding to SMS messages. This trend has created a fertile ground for SMS advertising, as businesses can easily reach their target audience through their mobile phones. Another trend in the market is the integration of SMS advertising with other marketing channels. Businesses are increasingly using SMS messages as part of their multi-channel marketing campaigns, combining SMS with email, social media, and other digital channels. This integration allows for a more cohesive and coordinated marketing strategy, ensuring that customers receive consistent and targeted messages across different platforms.

Local special circumstances: Norway has a highly developed telecommunications infrastructure, with widespread access to mobile networks and high-speed internet. This infrastructure enables businesses to easily send SMS messages to their customers, ensuring reliable and timely delivery. Furthermore, Norwegian consumers have a high level of trust in SMS messages, as they are seen as a secure and legitimate means of communication.

Underlying macroeconomic factors: Norway has a strong and stable economy, with high levels of disposable income among its population. This economic stability has contributed to the growth of the SMS Advertising market, as businesses have the financial resources to invest in advertising and marketing activities. Additionally, the high standard of living in Norway has created a consumer base that is receptive to SMS advertising, as they have the means to make purchasing decisions based on the information received through SMS messages. In conclusion, the SMS Advertising market in Norway is thriving due to customer preferences for convenient and personalized communication, the increasing adoption of mobile devices, the integration of SMS advertising with other marketing channels, the country's advanced telecommunications infrastructure, and the strong and stable economy. These factors have created a favorable environment for businesses to effectively reach and engage with their target audience 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.