Key regions: United States, China, Europe, Asia, Japan
The Advertising market in Portugal has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: In Portugal, customers have shown a growing preference for digital advertising channels, such as social media, online videos, and mobile advertising. This shift can be attributed to the increasing use of smartphones and the internet among the Portuguese population. Customers are also demanding more personalized and targeted advertising messages, which can be achieved through digital platforms. Traditional advertising channels, such as television and print media, are still relevant but are facing increasing competition from digital channels.
Trends in the market: One of the major trends in the Portuguese advertising market is the rise of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad inventory, making the process more efficient and targeted. This trend is driven by advancements in technology and data analytics, which enable advertisers to reach their target audience more effectively. Programmatic advertising is particularly popular in digital channels, where it allows for real-time bidding and optimization of ad placements. Another trend in the Portuguese advertising market is the increasing focus on native advertising. Native advertising involves creating content that is seamlessly integrated into the user's online experience, making it less intrusive and more engaging. This type of advertising is gaining popularity as customers become more resistant to traditional forms of advertising. Native advertising allows brands to tell their story in a more authentic and compelling way, leading to higher engagement and conversion rates.
Local special circumstances: One of the unique aspects of the Portuguese advertising market is the strong presence of local media companies. These companies have a deep understanding of the local market and culture, allowing them to create tailored advertising campaigns that resonate with Portuguese customers. Local media companies also have established relationships with local businesses, which gives them a competitive advantage in the market.
Underlying macroeconomic factors: The growth of the advertising market in Portugal is also influenced by underlying macroeconomic factors. Portugal has experienced steady economic growth in recent years, which has led to increased consumer spending and business investment. This positive economic environment has created opportunities for advertisers to reach a larger audience and promote their products and services. Additionally, the government has implemented policies to attract foreign investment and promote entrepreneurship, which has further contributed to the growth of the advertising market. In conclusion, the Advertising market in Portugal is evolving to meet the changing customer preferences, with a shift towards digital channels and more personalized advertising messages. The rise of programmatic advertising and native advertising are two major trends in the market, driven by advancements in technology and customer preferences. The strong presence of local media companies and the positive macroeconomic environment are also contributing to the growth of the advertising market in Portugal.
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).
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