How Online Advertising Market Is Positioned In Singapore?
The online advertising market in Singapore is currently at its growth stage. Increasing internet penetration rate and robust digital infrastructure has been complimenting the advertising spent of this industry. Coupled with the increasing percentage of smartphone users, there has been a significant shift in advertising agencies towards online advertising by mobile. The market has grown significantly during the period 2013 to 2018. The penetration rate has been evaluated to be ~% in 2018. The search advertising has the biggest share followed by social media advertising and banner advertising, while online classifieds and others were least popular in 2018. Major reasons for the increase in advertising spent have been the increasing size of the FMCG industry, penetration of international brands in the country. The increasing penetration of international brands in Singapore will directly impact the growth rates of online ad spend in the country as international brands prefer to use online ads as compared to offline. This will further increase competition among the advertising agencies in Singapore.
The increasing market size of industries especially FMCG have helped the revenue to grow at a CAGR of ~% during the review period. Few of the online advertising agencies in the market are Carbon Interactive, Happy Marketer, Media One, Clickr Media, First Page Pte Ltd, One9Ninety Pte Ltd, Hashmeta Pte Ltd, and many others. The services provided are Search Engine optimization, web design, content marketing, brand reputation management, and many others. Nowadays, there are many additional facilities provided to the sectors to make them feel satisfied and increase their retention rate in a particular advertising agency. Due to the above-mentioned factors, the online advertising industry has witnessed a growth at the rate of approximately ~% in terms of advertising spend during the review period of 2013 to 2018.
Which Type Of Advertising Has Been More Successful In 2018?
The market is dominated by search advertising based on advertising spend in 2018. This is due to the high usage of search engines in Singapore as compared to other platforms. Google and Yahoo are the most preferred platforms by Singaporeans as search engines. Singaporeans like to spend more time on laptops as compared to mobile as search engines are more convenient to use on laptops. Thus, most of the brands in Singapore opted for search engine optimization for online advertising in order to attract more and more potential customers. The advertising spends made on search advertising was USD ~ Million in 2018. This accounts for ~% share of the total online advertising spent in Singapore. Search advertising is followed by social media advertising as there is a large number of social media users in Singapore especially females. Facebook, Instagram, and LinkedIn account the highest share in social media advertising.
What Has Been The Share Of Different Sectors On The Basis Of Ad Spent In 2018?
The FMCG sector in Singapore is dominating the market in terms of online advertising spend. This is due to the presence of perfect competition with a large number of buyers and sellers with having low product differentiation. Thus, in order to survive in the market and capture the market share, brands in FMCG sectors take the support on online advertising by creating awareness among people and positioning their product in the mind of customers. FMCG industry has a high conversion rate in terms of online advertising. The advertising spends made by FMCG sector was USD ~ Million in 2018. This accounts for ~% share of the total online advertising spent in Singapore. The second high spending sector in terms of online advertising is entertainment & media. This is due to the increasing number of unique services and players in the entertainment industries. The advertising spends made by entertainment & media was USD ~ Million in 2018. This accounts for ~% share of the total online advertising spent in Singapore.
Key Segments Covered:-
By Online Advertising Medium by Online Ad Spend
By Types of Online Advertising By Online Ad Spend
Social Media Advertising
Online Classified & Others
By Different Sector/Industries By Online Ad Spend
Entertainment & Media
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
Social Networking Platforms
End-User Industries Investing in Online Advertising
Advertising Agencies Covered:-
Hashmeta Pte. Ltd.
Advertising Platforms Covered:-
For More Information, Refer To Below Link:-
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)
Ankur Gupta, Head Marketing & Communications