Singapore Online Advertising Market Driven by Continued Growth in the Number of Social Media Users and Increasing Penetration of Smartphones: Ken Research
GURUGRAM, India, June 17, 2019 /PRNewswire/ --
- Percentage share of social media advertising in online advertising market is expected to positively incline registering a CAGR of close to 9% with growth in the number of social media users during 2019-2023. This would be facilitated by a proportionate rise in number of social media ads in the country by the end of 2023. This would account for almost 5 million social media users in the country.
- In terms of number of smart phone users, the contribution is anticipated to incline positively registering a CAGR of close to 73% during the forecast period. This is owing to the fast pace expansion using diversified advertising models and increased online advertising by mobile.
- The share of digital is expected to increase in the overall advertising market due to the increasing number of internet users with an annual growth anticipated at close to 2% by the end of 2023.
Singapore Online Advertising market growth will be facilitated by increasing number of internet users and expanding presence of international ad agency brands, robust digital infrastructure, arrival of new online advertising agencies and increasing smart phone penetration. The total advertising market is still dominated by traditional medium such as print media due to their credibility and comparatively low pricing. Many new online advertising agencies and international brands have been projected to enter during the forecast period. There could be an opportunity for brands and industries to enter with new and unique mode of online advertising by using digital strategy consultancy, web design, brand reputation management, search engine optimization, email marketing and others. Online advertising in the country is anticipated to increase in the future owing to the arrival of international brands that are willing to spent more on the online advertising in Singapore.
In 2018, it has been analyzed that search advertising has been the most popular one amongst sectors while the banner advertising has not been opted much. Industries are usually willing to spend close to USD 150 million on search advertising and USD 35 million on banner advertising. Desktop is the most preferred medium for online advertising due to the large size of the ads and tendency of Singaporeans to spend more time on laptop as compared to mobile throughout the year. FMCG and E-commerce sector is spending huge amount on online advertising due to the presence of large number of players and little product differentiation. Carbon Interactive, Media One, Happy Marketer, First Page Pte Ltd, Hashmeta Pte Ltd., One9Ninety Pte Ltd. have been the most popular online advertising agencies while Google, Facebook, Instagram, LinkedIn, YouTube have been popular choices in the online platforms.
Analysts at Ken Research in their latest publication "Singapore Online Advertising Market Outlook to 2023 - By Medium (Desktop and Mobile), by Type (Search Advertising, Social Media Advertising, Banner Advertising, Video Advertising and Online classifieds and others), by Sectors (FMCG, Entertainment & Media, BFSI, Retail, Healthcare, Automotive and others) and by Model ( Cost per click, Cost per mile and Cost per action) believe that the market is expected to register positive CAGR of 10.5% in terms of online advertising spent during the forecasted period 2018-2023E.
Key Segments Covered
By Online Advertising Medium By Online Ad Spend
- Desktop
- Mobile
By Types of Online Advertising By Online Ad Spend
- Search Advertising
- Social Media Advertising
- Banner Advertising
- Video Advertising
- Online Classified & Others
By Different Sector/Industries By Online Ad Spend
- FMCG
- Entertainment & Media
- BFSI
- Retail
- Health care
- Automotive
- Others
By Pricing Models By Online Ad Spend
- Cost per Click (CPC)
- Cost per Mile (CPM)
- Cost per Action (CPA)
Time Period Captured in the Report:
- Historical Period: 2013-2018
- Forecast Period: 2019-2023
Key Target Audience
- Advertising Agencies
- Social Networking Platforms
- End User Industries Investing in Online Advertising
- Investors
Advertising Agencies Covered:
- Carbon Interactive
- Active Media
- Happy Marketer
- Hashmeta Pte. Ltd.
- Clickr Media
- Media One
- One9 Ninety
Advertising Platforms Covered:
- YouTube
- Snapchat
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Singapore Online Advertising Market
- Singapore Online Advertising Market Segmentation
- SWOT Analysis of Singapore Online Advertising Market
- Trends and Development in Singapore Online Advertising Market
- Issues and Challenges in Singapore Online Advertising
- Regulatory Scenario of Singapore Online Advertising Market
- Competitive Scenario in Singapore Online Advertising Market
- Company Profiles of Singapore Online Advertising Market
- Singapore Online Advertising Market Future Outlook and Projections, 2018-2023E
- Analyst Recommendation in Singapore Online Advertising Market
For more information on the market research report, please refer to below link:
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Ankur Gupta, Head Marketing
Ken Research Private Limited
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SOURCE Ken Research
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