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Web Push Advertising - South Korea

South Korea

Ad spending in the Web Push Advertising market in South Korea is forecasted to reach €34.73m in 2024.
The anticipated annual growth rate (CAGR 2024-2029) is 2.57%, leading to a projected market volume of €39.42m by 2029.
When compared globally, the United States will generate the highest ad spending (€1,118.00m in 2024).
The average ad spending per internet user in the Web Push Advertising market in South Korea is estimated to be €0.73 in 2024.
South Korea's growing tech-savvy population is driving a surge in Web Push Advertising adoption, making it a lucrative market for digital advertisers.

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

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Analyst Opinion

The Web Push Advertising market in South Korea is experiencing significant growth and development.

Customer preferences: South Korean consumers have shown a growing interest in personalized and targeted advertising. They appreciate advertisements that are relevant to their interests and preferences. Web push advertising allows companies to deliver customized messages directly to consumers' devices, increasing the likelihood of engagement and conversion. Additionally, South Korean consumers are highly tech-savvy and have a high adoption rate of new technologies. This makes them more receptive to web push advertising and more likely to engage with these types of campaigns.

Trends in the market: One of the key trends in the South Korean web push advertising market is the increasing use of mobile devices. South Korea has one of the highest smartphone penetration rates in the world, with a large portion of the population relying on their mobile devices for internet access. This presents a significant opportunity for web push advertising, as it allows companies to reach consumers directly on their smartphones. Another trend in the market is the rise of e-commerce and online shopping. South Korean consumers are increasingly turning to online platforms to make purchases, and web push advertising can be an effective tool for driving traffic to these platforms and increasing sales. Companies can use web push notifications to notify consumers about special offers, discounts, or new product launches, encouraging them to visit online stores and make purchases.

Local special circumstances: South Korea has a highly competitive business environment, with many companies vying for consumers' attention. This has led to a focus on innovative and creative advertising strategies, including web push advertising. Companies in South Korea are constantly looking for new ways to stand out from the competition and engage with consumers, and web push advertising offers a unique and effective solution.

Underlying macroeconomic factors: South Korea has a strong and growing economy, which provides a favorable environment for the development of the web push advertising market. The country has a high internet penetration rate, with a large portion of the population having access to the internet. This provides a large potential audience for web push advertising campaigns. Additionally, South Korea has a well-developed infrastructure and advanced technology, which makes it easier for companies to implement web push advertising strategies. In conclusion, the Web Push Advertising market in South Korea is thriving due to customer preferences for personalized and targeted advertising, the increasing use of mobile devices, the rise of e-commerce, the competitive business environment, and the strong underlying macroeconomic factors.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on Web Push Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for distributing web push advertisements.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet coverage. 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 relevant 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. The main drivers are GDP per capita, consumer spending per capita, and internet users.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a 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). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.