Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising - Ireland

Ireland

Ad spending in the Digital Audio Advertising market in Ireland is forecasted to reach €11.77m in 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2029) of 4.12%, leading to a projected market volume of €14.40m by 2029.
With a projected market volume of €6,471.00m in 2024, the majority of revenue will be generated the United States.
In Ireland, the number of listeners in the Digital Audio Advertising market is estimated to reach 2.27m users by 2029.
The average ad spending per user in the Digital Audio Advertising market is projected to be €6.45 in 2024.
In Ireland, 62.07% of total ad spending in the Digital Audio Advertising market will be generated through mobile in 2029.
Ireland's digital audio advertising market is rapidly growing, with increasing investments from local businesses targeting tech-savvy consumers.

Key regions: Australia, United Kingdom, Germany, India, Europe

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Analyst Opinion

Digital Audio Advertising market in Ireland has been experiencing significant growth in recent years.

Customer preferences: Customers in Ireland are increasingly turning to digital audio platforms for their music and podcast consumption. This shift in consumer behavior has created a lucrative opportunity for advertisers to reach their target audience through digital audio advertising. With the rise of streaming services and the popularity of smartphones, more and more people are accessing digital audio content on the go, making it a prime advertising channel.

Trends in the market: One of the key trends in the Digital Audio Advertising market in Ireland is the increasing adoption of programmatic advertising. Programmatic advertising allows advertisers to reach their target audience in a more efficient and targeted manner. With the help of data and algorithms, programmatic advertising enables advertisers to deliver personalized and relevant ads to consumers, resulting in higher engagement and conversion rates. This trend is driven by the growing availability of data and advanced analytics tools, which allow advertisers to gain insights into consumer behavior and preferences. Another trend in the market is the rise of native advertising in digital audio. Native ads seamlessly blend into the content and format of the digital audio platform, providing a non-disruptive and engaging experience for listeners. This type of advertising is particularly effective in capturing the attention of consumers who are increasingly becoming immune to traditional forms of advertising. By integrating native ads into the digital audio experience, advertisers can effectively reach their target audience and drive brand awareness and engagement.

Local special circumstances: Ireland has a strong digital infrastructure and a high smartphone penetration rate, which has contributed to the growth of the Digital Audio Advertising market. The country also has a young and tech-savvy population, who are early adopters of new technologies and platforms. This makes Ireland an attractive market for digital audio advertising, as advertisers can reach a large and engaged audience.

Underlying macroeconomic factors: The overall growth of the Irish economy and increased consumer spending have also played a role in the development of the Digital Audio Advertising market. As the economy continues to recover from the global financial crisis, businesses are investing more in advertising to drive sales and growth. This has created a favorable environment for the digital audio advertising industry to thrive. In conclusion, the Digital Audio Advertising market in Ireland is experiencing growth due to changing customer preferences, such as increased consumption of digital audio content. The adoption of programmatic advertising and the rise of native advertising are also contributing to the growth of the market. Ireland's strong digital infrastructure, high smartphone penetration rate, and young population make it an attractive market for advertisers. Additionally, the overall growth of the Irish economy and increased consumer spending are supporting the development of the Digital Audio Advertising market in the country.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers pre- and in-stream audio ads and podcast streaming ads.

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, web traffic, 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, media consumption, internet users, and digital consumer spending.

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.