The Out-of-Home Advertising market in Thailand has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Thailand's population is increasingly mobile and urbanized, with a growing middle class that has higher disposable income. This has led to a greater demand for out-of-home advertising, as people spend more time outside their homes and are exposed to a wide range of advertising messages. Additionally, with the rise of social media and digital advertising, consumers are seeking unique and interactive experiences that can only be provided by out-of-home advertising.
Trends in the market: One of the key trends in the out-of-home advertising market in Thailand is the shift towards digital and interactive advertising. Traditional billboards and static displays are being replaced by digital screens and interactive installations that can capture the attention of consumers and provide more engaging experiences. This trend is driven by advancements in technology and the increasing availability of high-speed internet connections, which enable real-time content updates and interactive features. Another trend in the market is the growing focus on targeted advertising. Advertisers are increasingly using data and analytics to identify their target audience and deliver personalized messages. This allows them to maximize the impact of their campaigns and ensure that they are reaching the right people at the right time. In addition, advertisers are also leveraging location-based targeting to deliver relevant messages to consumers based on their physical location.
Local special circumstances: Thailand has a vibrant and dynamic outdoor advertising industry, with a wide range of formats and locations available for advertisers. The country's cities are known for their bustling streets and vibrant nightlife, which provide ample opportunities for out-of-home advertising. Additionally, Thailand is a popular tourist destination, attracting millions of visitors each year. This presents a unique opportunity for advertisers to reach a diverse and international audience.
Underlying macroeconomic factors: Thailand's strong economic growth and stable political environment have contributed to the development of the out-of-home advertising market. The country's GDP has been growing steadily, leading to increased consumer spending and higher advertising budgets. Additionally, Thailand's government has been supportive of the advertising industry, implementing policies and regulations that promote investment and innovation. In conclusion, the Out-of-Home Advertising market in Thailand is experiencing growth due to changing customer preferences, such as the demand for digital and interactive advertising, as well as targeted advertising. The country's vibrant outdoor advertising industry, coupled with its strong macroeconomic factors, provides a favorable environment for the development of the market.
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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