Market Insights Advertising & Media Advertising Out-of-Home Advertising

Traditional Out-of-Home Advertising - Thailand

Thailand

In Thailand, ad spending in the Traditional Out-of-Home Advertising market is forecasted to hit €236.60m in 2024.
The sector is anticipated to experience an annual growth rate (CAGR 2024-2029) of 1.46%, leading to an estimated market size of €254.40m by 2029.
The average ad spending per capita in the Traditional Out-of-Home Advertising market is expected to be €3.29 in 2024.
Traditional Out-of-Home Advertising in Thailand is embracing digital transformation, blending cultural heritage with modern technology to engage consumers effectively.

Key regions: Germany, Europe, Asia, France, China

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Analyst Opinion

The Traditional Out-of-Home Advertising market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Thailand, there is a strong cultural emphasis on outdoor activities and socializing, which has contributed to the popularity of Traditional Out-of-Home Advertising. Thai consumers are known to spend a significant amount of time outside their homes, whether it be commuting, shopping, or engaging in leisure activities. This presents a unique opportunity for advertisers to reach a wide audience through billboards, transit advertising, and other traditional out-of-home mediums.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Thailand is the increasing adoption of digital out-of-home (DOOH) advertising. With the advancements in technology, advertisers are now able to create dynamic and interactive campaigns that capture the attention of consumers. Digital billboards and screens are being installed in high-traffic areas, providing advertisers with the flexibility to change their messaging in real-time and target specific audiences. Another trend in the market is the integration of mobile advertising with out-of-home advertising. Advertisers are leveraging the ubiquity of smartphones to engage with consumers in a more personalized and interactive manner. QR codes, augmented reality, and location-based targeting are being used to create seamless experiences that bridge the gap between the physical and digital worlds.

Local special circumstances: Thailand's tourism industry plays a significant role in the growth of the Traditional Out-of-Home Advertising market. The country attracts millions of international tourists each year, presenting advertisers with a unique opportunity to reach a diverse and global audience. Tourist hotspots, such as Bangkok and Phuket, are prime locations for out-of-home advertising, as they attract both local and international visitors. Additionally, the rapid urbanization and infrastructure development in Thailand have contributed to the growth of the out-of-home advertising market. As cities expand and transportation networks improve, more people are exposed to outdoor advertising on a daily basis. This has led to an increase in the number of billboards, transit shelters, and other out-of-home advertising mediums across the country.

Underlying macroeconomic factors: Thailand's strong economic growth and increasing consumer spending have also played a role in the development of the Traditional Out-of-Home Advertising market. As the middle class expands and disposable incomes rise, consumers have more purchasing power, which attracts advertisers to invest in out-of-home advertising to capture their attention. Furthermore, the government's initiatives to promote tourism and foreign investment have created a favorable business environment for advertisers, leading to increased spending in the out-of-home advertising sector. In conclusion, the Traditional Out-of-Home Advertising market in Thailand is experiencing growth due to changing customer preferences, the adoption of digital and mobile advertising, local special circumstances such as tourism and urbanization, and underlying macroeconomic factors. As the market continues to evolve, advertisers will need to adapt their strategies to effectively engage with consumers in this dynamic and competitive landscape.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and place-based media.

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, and survey results from our primary research (e.g., Consumer Insights Global Survey) 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, population, urban population, and internet infrastructure.

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.