Key regions: United States, China, Europe, Asia, Japan
The Advertising market in Thailand has experienced significant growth in recent years, driven by changing customer preferences and the increasing importance of digital advertising.
Customer preferences: Thailand has a young and tech-savvy population, with a high smartphone penetration rate. As a result, consumers are increasingly turning to digital platforms for information and entertainment. This has led to a shift in advertising preferences, with businesses investing more in online and mobile advertising to reach their target audience. Additionally, consumers in Thailand are becoming more discerning and selective in their choices, demanding personalized and relevant content. This has prompted advertisers to adopt data-driven strategies to deliver targeted advertisements to consumers.
Trends in the market: One of the key trends in the advertising market in Thailand is the rise of influencer marketing. Influencers, particularly those on social media platforms like Instagram and YouTube, have gained significant popularity among Thai consumers. Advertisers are leveraging the influence of these individuals to promote their products and services, as they are seen as more relatable and trustworthy by consumers. Additionally, the use of video advertising has also increased in Thailand, with businesses recognizing the power of video content in capturing consumers' attention and conveying their brand message effectively. Another trend in the market is the growing importance of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad space, enabling them to target specific audiences and optimize their ad campaigns in real-time. This technology has gained traction in Thailand, as it offers increased efficiency and effectiveness in reaching the right customers at the right time.
Local special circumstances: Thailand has a vibrant and competitive advertising industry, with both local and international agencies operating in the market. Local agencies have a deep understanding of the Thai market and culture, allowing them to create campaigns that resonate with local consumers. On the other hand, international agencies bring global expertise and best practices to the market, offering innovative and creative solutions to advertisers.
Underlying macroeconomic factors: Thailand's strong economic growth and increasing consumer spending power have also contributed to the development of the advertising market. As the economy continues to expand, businesses are investing more in advertising to gain a competitive edge and attract customers. Furthermore, the government's initiatives to promote tourism and attract foreign investment have also had a positive impact on the advertising industry, as businesses in these sectors increase their advertising budgets to reach a wider audience. In conclusion, the advertising market in Thailand is experiencing growth and transformation driven by changing customer preferences, the rise of digital advertising, and the increasing importance of personalized and targeted campaigns. Advertisers are adapting to these trends by investing in influencer marketing, video advertising, and programmatic advertising. The local special circumstances, including the presence of both local and international agencies, contribute to the diversity and competitiveness of the market. Additionally, Thailand's strong economic growth and government initiatives further support the development of the advertising industry in the country.
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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