Vietnam Online Advertising Spending is Expected to Reach Around USD 1.7 Billion by 2023: Ken Research

Vietnam Online Advertising Spending is Expected to Reach Around USD 1.7 Billion by 2023: Ken Research

PR Newswire

GURUGRAM, India, April 8, 2019

GURUGRAM, India, April 8, 2019 /PRNewswire/ --

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:

By Different Sector/Industries:

By Pricing Models:

Key Target Audience:

Time Period Captured in the Report:

Companies Covered:

Key Topics Covered in the Report

For more information on the market research report please refer to the link below:

https://www.kenresearch.com/media-and-entertainment/advertising/vietnam-online-advertising-market/189130-94.html

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