Key regions: United States, China, Europe, Asia, Japan
The Advertising market in GCC has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the GCC region have been shifting towards digital advertising, as consumers increasingly spend more time online and on mobile devices. This has led to a surge in demand for digital advertising services, including social media advertising, search engine marketing, and programmatic advertising. Additionally, customers in the GCC are becoming more discerning and selective in their advertising choices, seeking personalized and targeted messages that resonate with their interests and values. Trends in the market indicate a growing focus on influencer marketing in the GCC region. Influencer marketing has become a popular strategy for brands to reach their target audience, as influencers have a strong following and can effectively promote products and services. This trend is driven by the rise of social media platforms, where influencers are able to engage with their followers and establish a sense of trust and credibility. In addition, the GCC region has a high smartphone penetration rate, making it an ideal market for influencer marketing campaigns. Local special circumstances in the GCC region have also contributed to the development of the Advertising market. The region has a young and affluent population, with a high disposable income and a strong appetite for luxury and lifestyle products. This presents a lucrative opportunity for advertisers to target this consumer segment through creative and innovative advertising campaigns. Furthermore, the GCC countries have been investing heavily in infrastructure development and hosting major events, such as the Dubai Expo 2020 and the FIFA World Cup 2022 in Qatar. These events attract a global audience and provide a platform for advertisers to showcase their brands on a large scale. Underlying macroeconomic factors, such as the diversification of the GCC economies and the growth of the tourism industry, have also contributed to the development of the Advertising market. The GCC countries have been actively working towards reducing their dependence on oil and gas revenues, and have been investing in sectors such as tourism, hospitality, real estate, and entertainment. This has created a demand for advertising services to promote these industries and attract both domestic and international visitors. Additionally, the growth of the tourism industry has led to an increase in the number of hotels, resorts, and entertainment venues, which require advertising to attract customers and differentiate themselves in a competitive market. In conclusion, the Advertising market in GCC is developing rapidly due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Advertisers in the region are increasingly focusing on digital advertising and influencer marketing to reach their target audience, while leveraging the young and affluent population, major events, and the growth of the tourism industry. These factors are expected to continue driving the growth of the Advertising market in the GCC region in the coming years.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.Modeling approach:
Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. 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 particular 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.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 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).
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