Advertising - Norway

Norway

Ad spending in the Advertising market in Norway is forecasted to reach US$3,567.00m in 2024.
The largest market is Search Advertising with a market volume of US$1,070.00m in 2024.
When compared globally, the United States is expected to lead in ad spending with US$422.30bn in 2024.
Within the Advertising market, 80.76% of total ad spending is projected to come from digital channels in 2029.
The average ad spending per capita in the Search Advertising market is estimated to be US$194.10 in 2024.
Furthermore, Advertising market of the 76.62% revenue in Norway will be generated through programmatic advertising in 2029.
In Norway, the advertising market is increasingly focusing on sustainability and authenticity to resonate with environmentally-conscious consumers.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Advertising market in Norway is experiencing significant growth and development. Customer preferences in the Advertising market in Norway are shifting towards digital platforms. With the increasing use of smartphones and internet penetration, consumers are spending more time online, creating a huge opportunity for advertisers to reach their target audience through digital channels. This shift in customer preferences is driven by the convenience and accessibility of digital advertising, as well as the ability to target specific demographics and measure the effectiveness of campaigns in real-time. Trends in the market show that programmatic advertising is becoming increasingly popular in Norway. Programmatic advertising allows advertisers to automate the buying and selling of ad inventory, using data and algorithms to target specific audiences and optimize campaign performance. This trend is driven by the desire for more efficient and effective advertising campaigns, as well as the increasing availability of data and technology to support programmatic buying. Another trend in the Advertising market in Norway is the increasing focus on native advertising. Native advertising involves creating content that is seamlessly integrated into the user experience, making it less intrusive and more engaging for consumers. This trend is driven by the desire to create a more personalized and relevant advertising experience, as well as the need to combat ad-blocking and ad fatigue. Local special circumstances in Norway, such as the high level of internet penetration and digital literacy, contribute to the growth of the Advertising market. Norway has one of the highest internet penetration rates in the world, with a large percentage of the population having access to the internet and actively using digital platforms. This creates a favorable environment for digital advertising to thrive and reach a wide audience. Underlying macroeconomic factors also play a role in the development of the Advertising market in Norway. The country has a strong and stable economy, with high levels of disposable income and consumer spending. This provides advertisers with a market that is willing and able to engage with their campaigns, driving demand for advertising services. In conclusion, the Advertising market in Norway is experiencing growth and development driven by customer preferences for digital advertising, trends such as programmatic and native advertising, local special circumstances including high internet penetration, and underlying macroeconomic factors. These factors create a favorable environment for advertisers to reach their target audience and drive business growth.

Methodology

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).