Market Insights Advertising & Media Advertising Out-of-Home Advertising

Traditional Out-of-Home Advertising - Hungary

Hungary

Hungary's Traditional Out-of-Home Advertising market is forecasted to see ad spending reach US$43.32m by 2024.
The market is anticipated to experience an annual growth rate (CAGR 2024-2029) of 0.83%, leading to a projected market volume of US$45.15m by 2029.
In 2024, the average ad spending per capita in the Traditional Out-of-Home Advertising market is expected to reach US$4.33.
Traditional Out-of-Home Advertising in Hungary is seeing a resurgence as companies embrace physical ads to reach consumers in a digitally saturated market.

Key regions: France, United Kingdom, Asia, China, Germany

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Analyst Opinion

Traditional Out-of-Home Advertising in Hungary is experiencing significant growth and development.

Customer preferences: Hungarian consumers have shown a strong preference for traditional out-of-home advertising methods such as billboards, posters, and signage. This preference can be attributed to the fact that these forms of advertising are easily visible and accessible to a wide audience. Additionally, the use of traditional advertising methods allows for a more targeted approach, as advertisers can choose specific locations and demographics to reach their desired audience.

Trends in the market: One of the key trends in the traditional out-of-home advertising market in Hungary is the increasing use of digital technology. This includes the integration of digital screens and interactive elements into traditional advertising formats. These innovations have allowed advertisers to create more engaging and interactive campaigns, capturing the attention of consumers in a crowded advertising landscape. Another trend in the market is the growing demand for data-driven advertising solutions. Advertisers in Hungary are increasingly looking for ways to measure the effectiveness of their campaigns and optimize their advertising spend. This has led to the development of new technologies and tools that provide detailed analytics and insights into the reach and impact of out-of-home advertising.

Local special circumstances: Hungary has a strong outdoor advertising culture, with billboards and posters being a common sight in cities and towns across the country. This cultural acceptance and familiarity with traditional out-of-home advertising methods create a favorable environment for advertisers to reach their target audience effectively.

Underlying macroeconomic factors: The growth of the traditional out-of-home advertising market in Hungary can be attributed to several macroeconomic factors. Firstly, Hungary has experienced steady economic growth in recent years, leading to increased consumer spending and business activity. This has created a favorable environment for advertisers to invest in out-of-home advertising to promote their products and services. Additionally, Hungary has a growing tourism industry, with a significant number of international visitors each year. This presents opportunities for advertisers to target both domestic and international audiences through out-of-home advertising methods. In conclusion, the traditional out-of-home advertising market in Hungary is thriving due to customer preferences for visible and targeted advertising methods, the integration of digital technology, the demand for data-driven solutions, the cultural acceptance of outdoor advertising, and favorable macroeconomic factors such as economic growth and a growing tourism industry.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and 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.