Key regions: Europe, United States, United Kingdom, Germany, India
The Digital Out-of-Home Advertising market in Vietnam is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Vietnam are increasingly attracted to digital out-of-home advertising due to its interactive and engaging nature. With the rise of smartphones and other digital devices, people are becoming more accustomed to interactive and personalized advertising experiences. Digital out-of-home advertising provides an opportunity for brands to reach a wider audience and deliver targeted messages in a visually appealing and interactive way. Additionally, customers appreciate the convenience and flexibility of digital out-of-home advertising, as it allows them to access information and make purchasing decisions on the go.
Trends in the market: One of the key trends in the digital out-of-home advertising market in Vietnam is the adoption of innovative technologies. Companies are investing in advanced digital displays, such as LED screens and video walls, to create captivating and immersive advertising experiences. These technologies enable brands to deliver dynamic and eye-catching content that grabs the attention of passersby. Furthermore, the integration of data analytics and real-time content management systems allows advertisers to tailor their messages based on factors such as time of day, weather conditions, and audience demographics. Another trend in the market is the increasing use of programmatic advertising. Programmatic advertising uses automated systems and algorithms to buy and sell ad space in real-time. This technology enables advertisers to target specific audiences and optimize their campaigns for maximum effectiveness. In Vietnam, programmatic advertising is gaining traction as advertisers recognize its potential to deliver personalized and relevant ads to consumers.
Local special circumstances: Vietnam has a young and tech-savvy population, with a high smartphone penetration rate. This presents a unique opportunity for digital out-of-home advertising, as it allows brands to connect with the younger generation who are more receptive to digital advertising. Additionally, the rapid urbanization and modernization of cities in Vietnam have led to an increase in foot traffic and the development of new commercial spaces, providing more opportunities for digital out-of-home advertising.
Underlying macroeconomic factors: Vietnam's strong economic growth and rising middle class have contributed to the growth of the digital out-of-home advertising market. As disposable incomes increase, consumers have more purchasing power and are more willing to spend on products and services. This presents an attractive market for advertisers who want to target affluent consumers. Furthermore, Vietnam's favorable business environment and government support for the digital economy have encouraged investment in the advertising sector, driving the growth of digital out-of-home advertising. In conclusion, the Digital Out-of-Home Advertising market in Vietnam is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. With the adoption of innovative technologies, the rise of programmatic advertising, and the country's young and tech-savvy population, the digital out-of-home advertising market in Vietnam is poised for continued growth in the coming years.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on digital out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers internet-connected out-of-home advertisements such as digital billboards, digital street furniture, digital transit and transportation, and digital place-based media.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. 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) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, 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 case market dynamics change.
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