Digital ad spend to grow by double digits in Southeast Asia
As a result of heavy mobile investment, digital advertising spend in six Southeast Asia countries - namely Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam - will increase by double digits in 2017 and 2018, according to eMarketer.
Digital ad spend to grow by double digits in Southeast Asia
Mobile ad spend will surpass $2.20bn and account for nearly 69.0% of digital ad expenditures by 2021, the report stated. Indonesia, Philippines and Vietnam will see the strongest growth in mobile ad spending bolstered by heavy smartphone adoption among the countries in Southeast Asia. Indonesia will increase outlays by 80.0%.
An earlier report by eMarketer and IAB projected that in 2017, Singapore's digital will account for 23.8% of media budgets, climbing by 18% to reach $376.5m.
However, according to the latest report, despite experiencing a slow growth due to weak consumer spending, Singapore's digital ad expenditures will total roughly $520m, with mobile accounting for 81.7% of all digital spend by 2021.
Shelleen Shum, eMarketer's senior forecasting analyst, said: “The developing economies of Southeast Asia are well placed to become Asia’s next top ranking digital advertising growth markets as these economies reap the gains from a ‘development catch up’ with favorable demographics, increasing smartphone adoption, expanding internet access and declining data prices.
“Undoubtedly, e-commerce will be a key driver in the years to come as investments from global giants pour in to shape Southeast Asia’s ecommerce scene and merchants determine how best to win the attention of a new generation of digital shoppers."