Market Insights Advertising & Media Advertising

Search Advertising - Belgium

Belgium

In Belgium, the ad spending in the Search Advertising market is forecasted to reach €339.30m in 2024.
The anticipated annual growth rate (CAGR 2024-2029) is 8.72%, leading to a projected market volume of €515.30m by 2029.
When compared globally, the United States will account for the highest ad spending (€127.10bn in 2024).
Within the Search Advertising market, 33% of total ad spending is expected to come from mobile in 2029.
The average ad spending per internet user in the Search Advertising market is projected to be €32.17 in 2024.
In Belgium, the Search Advertising market is seeing a surge in demand as businesses prioritize online visibility and targeted advertising strategies.

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

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Región

Comparación de regiones

Moneda

Analyst Opinion

The Search Advertising market in Belgium has been experiencing steady growth in recent years.

Customer preferences: Belgian consumers have become increasingly reliant on the internet for their everyday needs, including shopping, entertainment, and information. As a result, they are more likely to use search engines to find products and services. This has led to a growing demand for search advertising, as businesses strive to reach their target audience online. Additionally, Belgian consumers are becoming more tech-savvy and are comfortable using search engines to find what they are looking for. This has further fueled the demand for search advertising in the country.

Trends in the market: One of the key trends in the Search Advertising market in Belgium is the shift towards mobile advertising. With the increasing use of smartphones and tablets, more and more consumers are accessing the internet on their mobile devices. As a result, advertisers are focusing on optimizing their search ads for mobile platforms to ensure that they reach their target audience effectively. This trend is expected to continue in the coming years, as mobile usage continues to rise in Belgium. Another trend in the market is the growing importance of local search advertising. Belgian consumers are increasingly looking for products and services in their local area. This has led to a surge in demand for local search advertising, as businesses aim to target consumers in specific geographical locations. Advertisers are now focusing on optimizing their search ads to appear in local search results, ensuring that they are visible to potential customers in their area.

Local special circumstances: Belgium is a bilingual country, with Dutch and French being the two official languages. This presents a unique challenge for advertisers, as they need to create search ads that are relevant and appealing to both language groups. Advertisers need to carefully consider the language and cultural nuances of each region when creating their search ads. This requires a deep understanding of the local market and consumer preferences.

Underlying macroeconomic factors: The strong economy of Belgium has contributed to the growth of the Search Advertising market. With a stable and prosperous economy, businesses have the financial resources to invest in advertising and marketing. This has led to an increase in the number of businesses using search advertising to promote their products and services. Additionally, the high internet penetration rate in Belgium has also played a significant role in the growth of the Search Advertising market. With a large percentage of the population having access to the internet, advertisers have a wide audience to target through search advertising.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on search advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers search advertising that is displayed on search result pages or next to organic search results.

Modeling approach:

A combined top-down and bottom-up approach determines the market size. Starting with the top-down approach, we calculate global search advertising by aggregating advertising revenues from key players (Alphabet (Google), Microsoft (Bing), Baidu, Amazon, Alibaba, etc.). Followed by the bottom-up approach, we justify global, country, and region results using web traffic and the number of app downloads. Lastly, we distribute the results to each country individually with relevant indicators such as GDP, internet users, and digital consumer spending by country.

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.