The Out-of-Home Advertising market in Saudi Arabia has been experiencing significant growth in recent years.
Customer preferences: Saudi consumers have shown a strong preference for Out-of-Home Advertising, as it allows them to engage with brands and products in a more tangible and interactive way. The use of billboards, digital screens, and other outdoor advertising mediums has become increasingly popular in Saudi Arabia, as it provides a platform for brands to reach a wide audience and create a lasting impact.
Trends in the market: One of the key trends in the Out-of-Home Advertising market in Saudi Arabia is the increasing use of digital signage. Digital billboards and screens have become more common in major cities, offering dynamic and eye-catching advertising opportunities. This trend is driven by advancements in technology and the ability to target specific audiences with tailored messages. Another trend in the market is the integration of interactive elements into Out-of-Home Advertising campaigns. Brands are leveraging technologies such as augmented reality and QR codes to create engaging experiences for consumers. This not only captures attention but also encourages interaction and brand recall.
Local special circumstances: Saudi Arabia has a young and tech-savvy population, with a high smartphone penetration rate. This presents a unique opportunity for Out-of-Home Advertising to leverage mobile integration. By incorporating mobile elements into their campaigns, brands can bridge the gap between offline and online advertising, allowing consumers to seamlessly interact with the brand across different platforms.
Underlying macroeconomic factors: The growth of the Out-of-Home Advertising market in Saudi Arabia can be attributed to several macroeconomic factors. Firstly, the country's strong economic growth has led to increased consumer spending power, allowing brands to invest more in advertising. Additionally, Saudi Arabia's Vision 2030 initiative, which aims to diversify the economy and promote tourism, has created new opportunities for Out-of-Home Advertising. The government's focus on developing the tourism sector has attracted international brands and increased the demand for advertising services. In conclusion, the Out-of-Home Advertising market in Saudi Arabia is experiencing rapid growth due to customer preferences for tangible and interactive advertising, as well as the integration of digital and mobile technologies. The local special circumstances, such as a young and tech-savvy population, further contribute to the market's development. Additionally, underlying macroeconomic factors, such as strong economic growth and government initiatives, have created favorable conditions for the Out-of-Home Advertising industry in Saudi Arabia.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on out-of-home (OOH) advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional out-of-home advertising (offline out-of-home advertisements) and digital out-of-home advertising (internet-connected out-of-home advertisements).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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