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SMS Advertising - Thailand

Thailand

Ad spending in the SMS Advertising market in Thailand is forecasted to reach US$3.44m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -0.41%, leading to a projected market volume of US$3.37m 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$0.05 in Thailand in 2024.
Thailand's SMS advertising market is rapidly expanding, leveraging the country's high mobile penetration rate for targeted and effective marketing campaigns.

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

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Analyst Opinion

The SMS Advertising market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Thailand have shifted towards mobile devices, with a large percentage of the population owning smartphones. This has created a prime opportunity for SMS Advertising, as businesses can reach their target audience directly on their mobile phones. Additionally, SMS Advertising offers a cost-effective and efficient way for businesses to communicate with their customers, making it an attractive option for marketing campaigns. Trends in the market indicate that businesses in Thailand are increasingly adopting SMS Advertising as part of their marketing strategies. This is due to the high open and response rates of SMS messages compared to other forms of advertising. SMS messages have a higher likelihood of being read by recipients, leading to increased brand awareness and customer engagement. As a result, businesses are investing more in SMS Advertising to capitalize on these benefits. Local special circumstances in Thailand also contribute to the growth of the SMS Advertising market. The country has a high mobile phone penetration rate, with a large portion of the population relying on mobile devices for communication and internet access. This creates a favorable environment for SMS Advertising, as businesses can reach a wide audience through this channel. Additionally, Thailand has a strong culture of text messaging, with SMS being a popular means of communication among individuals. This familiarity with SMS messaging makes it easier for businesses to engage with their target audience through SMS Advertising. Underlying macroeconomic factors further support the growth of the SMS Advertising market in Thailand. The country's economy has been steadily growing, leading to increased consumer spending and business investments. This provides businesses with the financial resources to invest in marketing strategies, including SMS Advertising. Furthermore, the rise of e-commerce in Thailand has created a need for businesses to reach customers through digital channels, making SMS Advertising a valuable tool in their marketing arsenal. In conclusion, the SMS Advertising market in Thailand is developing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Businesses are increasingly adopting SMS Advertising as part of their marketing strategies to reach their target audience effectively and efficiently. With the continued growth of the mobile market and the rise of e-commerce, the SMS Advertising market in Thailand is expected to continue its upward trajectory.

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.