Advertising - Benelux

Benelux

Ad spending in the Advertising market in Benelux is forecasted to reach €10.93bn in 2024.
The largest market in Benelux is Search Advertising with a market volume of €3.04bn in 2024.
When compared globally, the United States will lead in ad spending, reaching €390.80bn in 2024.
Within the Advertising market in Benelux, 73% of total ad spending is expected to come from digital advertising by 2029.
The average ad spending per capita in the Search Advertising market is projected to be €101.20 in Benelux in 2024.
Additionally, Advertising market of the 82% revenue in Benelux will be generated through programmatic advertising by 2029.
Benelux's advertising market is embracing digital transformation, with a shift towards programmatic advertising and personalized content strategies gaining momentum.

Key regions: United States, China, Europe, Asia, Japan

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Analyst Opinion

The Advertising market in Benelux is experiencing steady growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Advertising market in Benelux are shifting towards digital platforms, as consumers increasingly rely on the internet and mobile devices for information and entertainment. This has led to a rise in online advertising, including display ads, search engine marketing, and social media advertising. Additionally, there is a growing demand for personalized and targeted advertisements, as consumers expect relevant and tailored content. This has prompted advertisers to invest in data-driven advertising strategies and technologies, such as programmatic advertising and artificial intelligence. Trends in the market also indicate a growing focus on sustainability and corporate social responsibility. Consumers in Benelux are becoming more conscious of the environmental impact of advertising, and are actively seeking out brands that align with their values. As a result, advertisers are incorporating sustainability messaging into their campaigns and adopting eco-friendly practices. This includes using recycled materials for print advertisements, promoting green initiatives, and supporting social causes. Another trend in the Advertising market in Benelux is the rise of influencer marketing. Influencers, who have a large and engaged following on social media, are being utilized by brands to promote their products and services. This form of marketing allows advertisers to reach a specific target audience and leverage the trust and credibility that influencers have built with their followers. As a result, influencer marketing has become a popular strategy for brands looking to increase brand awareness and drive sales. Local special circumstances in Benelux also contribute to the development of the Advertising market. The region's high internet penetration rate and tech-savvy population create a favorable environment for digital advertising. Additionally, the close proximity and cultural similarities between Belgium, the Netherlands, and Luxembourg allow advertisers to easily target a larger audience across the region. This has led to the growth of cross-border advertising campaigns, as brands look to maximize their reach and impact. Underlying macroeconomic factors, such as economic stability and consumer spending power, also play a role in the development of the Advertising market in Benelux. As the region experiences steady economic growth, businesses are more willing to invest in advertising to promote their products and services. Furthermore, the high standard of living and disposable income in Benelux allow consumers to engage with advertising and make purchasing decisions. In conclusion, the Advertising market in Benelux is evolving to meet the changing preferences of customers. The shift towards digital platforms, the focus on sustainability and influencer marketing, as well as the local special circumstances and macroeconomic factors, are all contributing to the growth and development of the market. Advertisers in Benelux are adapting their strategies to effectively reach and engage with their target audience, and these trends are expected to continue shaping the market in the future.

Methodology

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 Global Survey). 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).