Oman Online Advertising Market is presently placed in early growth stage. Brands and advertisers still hold greater preference for traditional modes of advertisement namely, TV, newspaper and radio. However, the market is observing considerable transition towards the digital advertisement upon investigating the grooming possible of smartphones and internet penetration in the country. Companies are now progressively adapting the usage of online social network as a foremost marketing tool. The players are aiming on tapping the large pool of the ‘forever online’ consumers to translate them into their clientele. The digital advertising scenario is developing at an astonishing pace as media proliferation and technology are together yielding newer manners of connecting with consumers. The market still absences correct awareness and understanding concerning consumer behavior. Online advertising spent is projected to witness sound growth at a CAGR of close to 4% throughout the revenue period 2013-2018.
According
to the report analysis, ‘Oman
Online Advertising Market Outlook to 2023 - By Medium (Desktop and Mobile), By
Type (Search Advertising, Social Media Advertising, Banner Advertising, Video
Advertising, Online Classifieds), By Sectors (Hospitality & Tourism, FMCG,
BFSI, Telecommunications, Healthcare, Automotive, Retail and others) and By
Model (Cost Per Mile, Cost Per Click and Cost Per Action)’ states
that online advertising market is fragmented for advertising agencies while it
is extremely concentrated for platforms on the basis of ad spent in 2018.
Companies are challenging on their marketing strategies, analytics used,
network platforms and sectoral clientele. Some of the foremost advertising
agencies functioning within this segment comprise Arab House, Bullseye
Marketing LLC, UMS Advertising and Nexa Advertising agency and others. Foremost
platforms which dominate the online advertisement spend comprise Google and
Facebook, followed by YouTube and Instagram during 2018.
At
Ken Research, Oman Online Advertising Market Report covers online advertising
spent along with market segmentation by the medium of advertising (desktop and
mobile), by type of advertising (search advertising, social advertising, video
advertising, banner advertising, online classifieds and others), by sectors
(Hospitality & Tourism, FMCG, BFSI, Telecommunications, Healthcare,
Automotive, Retail and others), by models (cost per mile, cost per click and cost
per action).
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The
report also discloses growth drivers and trends; issues and challenges;
customer pain points and decision making parameters and competitive insight of
players in the market with special aim on Al Nahda Advertising Co LLC, Arab
House Bullseye Marketing LLC, Creative Communications Advertising and Marketing
LLC, Fortune Promoseven Advertising, Havas Worldwide Muscat, Oman Advertising
Agency LLC, Pargon, Talks International LLC, UMS Advertising and several
others. The report also discovers the digital customer profile in Oman, future
outlook & projections along with the analyst recommendation highlighting
the foremost opportunities & cautions to the reader.
On
the basis of pricing models, the CPM model is broadly preferred over other
models in Oman. It is primarily utilized in Social Media Advertisements. Cost
per Mile (CPM) denotes the cost charged per thousand clicks. Cost per Clicks
(CPC) is the charges by the publisher according to the number of clicks gained
by any advertisement. Cost per Action (CPA) presents the charges as per any specific
action desired by the advertiser. CPC model control the second highest share
which is primary used by publishers due to the dominance of search advertising.
The CPM and CPC models are projected to manage the higher more popularity by
2023.
Oman
Digital Marketing Market in terms of advertisement spending is projected to
further expand in the reviewed period 2018-2023E at a faster rate. It is
forecasted to observe a CAGR (2018-2023) of close to 7% with robust support enlarged
from Hospitality & Tourism and BFSI segments.
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