Singapore Online Advertising Market Report and Forecast: Ken Research

0


What Are The Major Challenges In The Singapore Online Advertising Market?

The Advertising Standards Authority of Singapore administered all the advertisements published in Singapore and ensures that the advertisements meet the ethical code and conduct mentioned by authority is posing one of the biggest challenges in this market. The non-compliance leads to the prohibition over the ad publication. The major challenge for the advertising industry has been client retention. Due to the availability of a large number of advertising agencies in Singapore, it is difficult for the agencies to retain their clients due to stiff competition. The agencies compete in terms of charges or rates, unique services such as brand reputation management, web design, and app marketing and others. The agencies need to bring creative ideas and customized service in order to increase the client retention rate in the market.  High expectations of the advertising agencies in terms of ROI in a short period of time creates another hindrance in Singapore online advertising market. Generally, the advertising industry takes longer to pay back the investment or generates ROI. But it has been observed the advertising agencies in Singapore are keen to generate ROI in short span which ultimately leads to the dissatisfaction among the agencies. Limited talent and expertise of advertising agencies is a big challenge in the market. Singapore advertising market is dominated by traditional mediums such as T.V., newspapers, radio, and others.

Competitive Landscape In Singapore Online Advertising Market

The overall competition stage of the industry has been a ~ in terms of advertising spent and market share of major platforms with the presence of a large number of small agencies and platforms in 2018. Few of the major advertising agencies include Carbon Interactive, Active Media, Media One, Hashmeta Pte ltd, Clickr Media, First Page Pte ltd, Happy Marketer and many others. The major parameters on the basis of which the advertising agencies in the market compete with each other are the revenue generated, the number of full-time employees, and the number of active clients, client retention rate and the major clients along with pricing. These have helped the major advertising agencies to assemble higher market share during the review period. The online advertising platforms are competing with each other on the parameters such as market share, users, time spent on the platform, gender profile users, brands or clients, age group and others.

What Is The Future Of Online Advertising Industry In Singapore?

The Singapore online advertising spent has been anticipated to grow registering a moderate growth during the period 2019 to 2023E with a CAGR of close to ~% in terms of advertising spend. This advertising spend will be supported by the increasing number of internet users which is expected to grow with a CAGR of close to ~% during 2018 to 2023E. Growth during this period is expected to be supported by the rising number of smartphone users, increasing usage of social media networks, well developed digital infrastructure, diversifying services portfolio and others. Increase in literacy rate would supplement growth in the market. Due to the expansion of the already existing advertising agencies and the establishment of many other agencies, the penetration percent of online advertising will increase in the future. Many new services and new technologies are expected to be launched in the forecast period having a positive impact on demand for online ads. The increasing number of international brands in Singapore would have a combined effect and increase the number of online ads during the forecast period. The future share of the medium of online advertising such as desktop and mobile in the Singapore online advertising market is expected to change in favor of mobile by 2023. The scenario is improving for mobile ads because of the increasing usage of smartphones and the low cost incurred in mobile advertising.

With the increase in the time spent on the internet, higher awareness among the people due to high literacy and an increasing number of social media users, the penetration rate of the brands into online advertising market is expected to increase in the future. Due to this, there would be an increase in the conversion rate, which is anticipated to grow at a CAGR of ~% from 2018 to 2023. The penetration of internet users is expected to rise by ~% in 2023. This rise in the internet users is due to the establishment of robust digital infrastructure that enables for fast downloading and high-speed broadband networking in Singapore. In addition, an increase in the number of players in different sectors in Singapore will encourage brands to go for digital advertising in order to cope with the competition.

Key Segments Covered:-

By Online Advertising Medium by Online Ad Spend

Desktop

Mobile

By Types of Online Advertising by Online Ad Spend

Search Advertising

Social Media Advertising

Banner Advertising

Video Advertising

Online Classified & Others

By Different Sector/Industries by Online Ad Spend

FMCG

Entertainment & Media

BFSI

Retail

Health care

Automotive

Others

By Pricing Models by Online Ad Spend

Cost per Click (CPC)

Cost per Mile (CPM)

Cost per Action (CPA)

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2019-2023

Key Target Audience

Advertising Agencies

Social Networking Platforms

End-User Industries Investing in Online Advertising

Investors

Advertising Agencies Covered:-

Carbon Interactive

Active Media

Happy Marketer

Hashmeta Pte. Ltd

Clickr Media

Media One

One9 Ninety

Advertising Platforms Covered:-

Google

Facebook

Instagram

YouTube

LinkedIn

Twitter

Snapchat

Keywords:-

Advertising Market in Singapore

Singapore Digital Advertising Industry

Singapore Digital Advertising Market

Singapore Mobile Advertising Market

Singapore Online Advertisement Spending

Major Singapore Advertising Agencies Revenue

Singapore Online Advertising Market Spend

Online Video Advertising Spend Singapore

Singapore Digital Ad Spending Market

Singapore Digital Advertising Stats Market

Singapore Digital Display Ad Spend Market

Programmatic Advertising Platforms Singapore

Singapore Digital Ad Spend Market

Advertising Industry in Singapore

Advertising Industry Singapore

Advertising Market Singapore

Major Singapore Advertising Agencies Revenue

Singapore Social Media Advertising Market

For More Information, Refer To Below Link:-

Singapore Online Advertising Market Outlook

Related Reports:-

Vietnam Online Advertising Market Outlook to 2023 – By Medium (Desktop and Mobile), By Type (Banner, Video, Search, Social Media and Online Classifieds & Others Digital Advertising), By Sectors/Industries (FMCG, Healthcare, Entertainment & Media, Retail & E-Commerce, Automotive, BFSI and Others)

Indonesia Online Advertising Market Outlook to 2021- Significant Rise in Internet, Mobile and Social Media User Penetration to Drive Growth

Poland Online Advertising Market by Type (Display, Paid Search Ads, Paid Classified/ Directories, Paid Email Ads), By Mobile Ads, By Social Media Ads – Outlook to 2022

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Share.

Comments are closed.