Market Insights Advertising & Media Advertising Direct Messaging Advertising

Web Push Advertising - Serbia

Serbia

In Serbia, ad spending in the Web Push Advertising market is forecasted to reach US$1.02m in 2024.
The annual growth rate (CAGR 2024-2029) is expected to be 1.34%, leading to a projected market volume of US$1.09m by 2029.
When compared globally, the United States is anticipated to generate the highest ad spending (US$1,206.00m in 2024).
The projected average ad spending per internet user in the Web Push Advertising market is US$0.17 in 2024.
Serbia's advertising market is embracing Web Push Advertising, with companies leveraging its direct and personalized approach to engage with consumers effectively.

Key regions: China, Australia, Germany, United Kingdom, France

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Analyst Opinion

The Web Push Advertising market in Serbia is experiencing significant growth and development in recent years.

Customer preferences: Serbian customers have shown a strong interest in web push advertising due to its effectiveness in delivering targeted messages and increasing customer engagement. With the increasing popularity of smartphones and the internet, Serbian consumers are spending more time online, creating a ripe opportunity for advertisers to reach their target audience through web push notifications. These notifications allow businesses to send personalized messages to users, promoting products or services and driving conversions.

Trends in the market: One of the key trends in the Web Push Advertising market in Serbia is the adoption of mobile-first strategies. As more Serbian consumers access the internet through their smartphones, businesses are focusing on optimizing their web push advertising campaigns for mobile devices. This includes designing mobile-friendly push notifications that are visually appealing and easy to interact with on smaller screens. Additionally, businesses are leveraging location-based targeting to deliver relevant and timely push notifications to users based on their geographic location. This strategy helps businesses reach potential customers who are in close proximity to their physical stores or events. Another trend in the market is the increasing use of personalized and interactive push notifications. Serbian businesses are realizing the importance of delivering personalized messages to their customers to enhance the user experience and drive engagement. By utilizing customer data and segmentation, businesses can tailor their push notifications to individual preferences and behaviors, increasing the likelihood of conversion. Interactive push notifications, such as quizzes, surveys, or gamified experiences, are also gaining popularity as they provide an engaging and interactive way for businesses to connect with their audience.

Local special circumstances: Serbia's growing digital economy and tech-savvy population contribute to the development of the Web Push Advertising market. The country has seen a rise in digital startups and e-commerce businesses, creating a competitive landscape where businesses are looking for innovative ways to reach and engage their target audience. The relatively low cost of implementing web push advertising compared to traditional advertising channels also makes it an attractive option for businesses, especially small and medium-sized enterprises (SMEs) with limited marketing budgets.

Underlying macroeconomic factors: The overall economic growth in Serbia has had a positive impact on the Web Push Advertising market. As the economy grows, businesses have more resources to invest in marketing and advertising efforts, including web push advertising. Additionally, the increasing internet penetration rate and smartphone adoption in Serbia provide a larger audience for businesses to target with their push notifications. The continuous development of the digital infrastructure and improvement in internet connectivity also contribute to the growth of the Web Push Advertising market in Serbia.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on Web Push Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for distributing web push 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 users.

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.