GURUGRAM, India, April 8, 2019 /PRNewswire/ --
- Owing to the rise of E-commerce activities in Vietnam, with consumers preferring to spend on purchasing various electronics, food, furniture, digital music, video games through desktop medium or a mobile phone, the E-commerce and retail segment will become one of the major sectors with increase in advertisement spending in digital advertisement space in Vietnam to increase their market penetration and brand visibility.
- Increase in number of social media users is one of the main factors for aggressive advertising on social media as compared to the other types of advertising in Vietnam.
- People are eager to adopt smartphones in Vietnam as the numbers of secure internet servers are increasing and the ease of accessing internet from any place seems affordable and feasible.
- Improvements in the internet infrastructure change in the laws and regulations regarding the cyber security and improved scalability and measurability of the Ads will contribute more to the growth of the Vietnam online advertising market in the coming years.
Digital Presence: With rise in number of people active number of internet users, with close to 64 million people now active on internet out of total population of approximately 96 million, the brands or advertisers are keen to push their product in the digital platform to reach their potential customers and increase their brand visibility in the market. The number of brands expanding their advertisement budget is increasing year on year and some are shifting entirely from the traditional channel to digital channels of advertising.
Higher Penetration: The penetration percentage of the internet users was 67.0% in 2018 in Vietnam and is expected to grow at a rate of 10% annually. It is anticipated that the adoption rate of smartphones and social media users would also increase in future and would result in higher advertisement spending on online platforms due to the potential reach of these medium in the market.
Regulation: The Vietnamese government is yet to make stringent laws on the digital advertising market. The Vietnamese Ministry has made laws on cyber security and to maintain the privacy of the end users. Although the recent ban on advertising on the top advertising platforms such as Facebook and Google will only encourage more local platforms to come up in collaboration with local advertising agencies.
Analysts at Ken Research in their latest publication The report titled "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)" believe that with advent of strong internet infrastructure, increase in number of smartphone users and rise in acceptance of digital advertising channels by brands in Vietnam will pave the path for growth of Vietnam online advertisement market. Growth in the sector has also been fuelled by increase in the usage of social media and emergence of data security and localization regulations. The market is expected to register positive CAGR of ~21% in terms of advertising expenditure during the forecasted period 2018-2023E.
Key Segments Covered:
By Online Advertising Medium:
By Types of Online Advertising:
- Banner Advertising
- Video Advertising
- Search Advertising
- Social Media Advertising
- Online Classified and Others
By Different Sector/Industries:
- Entertainment & Media
By Pricing Models:
- Cost per Mile (CPM)
- Cost per Click (CPC)
- Cost per Action (CPA)
Key Target Audience:
- Advertising networking Companies
- Advertising Companies
- Industry Associations
- Government and Regulatory Authority
- Publishers of Ads
Time Period Captured in the Report:
- Historical Period – 2013-2018
- Forecast Period – 2018-2023E
- Digital Marketing Vietnam
- Coc Coc Browser
- PHD Media
- Blueseed Digital
- FPT Online
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Vietnam Online Advertising Market
- Vietnam Online Advertising Market Segmentation
- SWOT Analysis of Vietnam Online Advertising Market
- Trends and Development in Vietnam Online Advertising Market
- Issues and Challenges in Vietnam Online Advertising
- Regulatory Scenario of Vietnam Online Advertising Market
- Competitive Scenario in Vietnam Online Advertising Market
- Company Profiles of Vietnam Online Advertising Market
- Vietnam Online Advertising Market Future Outlook and Projections, 2018-2023E
- Analyst Recommendation in Vietnam Online Advertising Market
For more information on the market research report please refer to the link below:
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Ankur Gupta, Head Marketing
Ken Research Private Limited
SOURCE Ken Research