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Fastest growing online industries in Spain
Discover which internet market sectors are booming in Spain
Spain has a massive population of more than 47 million people, and it’s currently the world’s 15th largest economy. And while we all know that niches like the hospitality market and food export dominate the country’s economy, it’s also interesting to gain deeper insights into digital businesses.
What are the fastest growing online industries in Spain? If this sounds like a topic of your interest, read on to see some of the key players in the digital market. Let’s dive in!
1. Major industries of Spain: Online gambling
The competition among major industries in Spain is fierce, but we have to put digital gambling atop our list. Online casinos are gradually becoming a dominant force in this country, mainly because they pair great bonuses with innovative payment solutions. If you’d like to try a new online casino, you can go here to see Gamblizard and its list of the best Interac e-transfer casinos in 2023. The list features gambling websites with Interac payments that are both quick and safe. Here’s a brief overview of this industry in Spain:
- Reasons for growth: Top quality paired with lucrative bonuses
- Market size: $5 billion
- Number of customers/players: More than 3 million
2. Spain’s main industries: eCommerce
The Spanish eCommerce sector has not merely embraced the digital era; it has flourished within its embrace. By seamlessly blending convenience, ingenuity, and a wide array of offerings, it maintains an irresistible allure, consistently drawing an expanding populace of both discerning consumers and forward-thinking enterprises. As the tapestry of Spain’s eCommerce sphere undergoes continual transformation, it unfurls a veritable tableau of prospects for enterprising minds and astute investors, within this effervescent digital marketplace.
- Reasons for growth: The coronavirus pandemic plus the growing number of Internet users
- Market size: $11 billion
- Number of customers: Well over 30 million
3. Information Technology (IT)
This sector has witnessed remarkable growth and transformation over the years, catalysed by the ever-evolving digital ecosystem. Organisations across industries are undergoing digital transformations to stay competitive and meet evolving customer expectations. This has led to increased investments in:
- IT infrastructure
- Software development
- Data management
- Cybersecurity
Spain has experienced significant technological advancements, with businesses and individuals increasingly relying on digital solutions for various aspects of their lives. This reliance on technology has created a robust demand for IT products and services.
- Reasons for growth: Digital transformation
- Market size: Nearly $51 billion in 2022
- Number of IT companies: More than 15 thousand
4. Online entertainment
In the wake of a burgeoning trend where an ever-expanding number of Spaniards seeks solace on the Internet for their appetite for media consumption, online entertainment platforms have emerged to satisfy this need. Streaming services have arisen as the veritable cornerstone of digital fun, mainly due to their rich offerings.
In addition, Spanish-language content has gained global recognition, drawing in viewers from both within and beyond the country’s borders. The creation of high-quality, locally produced content has played a pivotal role in retaining and attracting users to online entertainment platforms.
- Reasons for growth: Content localisation paired with the digitalisation of media consumption
- Market size: $1 billion
- Number of users: Over 25 million
5. Digital advertising
The number of social media users is constantly in expansion. That’s mainly because older generations of Spaniards stick to well-known networks like Facebook, while new generations opt for modern platforms, Instagram and TikTok in particular.
Digital advertising can thrive in such circumstances. Businesses go where their audiences go, and that’s the Internet and social media. This is where companies advertise their products in a form that perfectly matches the interest of the target audience.
Native adsThese ads on social media are a kind of marketing promotion that fits effortlessly with the format and posts of the platform on which they appear. Unlike traditional banner ads or pop-up ads, which are often disruptive and can be easily ignored, native ads are designed to mimic the look and feel of the organic content on the platform.
- Reasons for growth: A booming network of Internet and social media users
- Market size: Well over $5 billion
- Number of providers: 1000+
Many online industries of Spain can be called huge, but only a handful of those are truly colossal. This post focused on the fastest growing businesses in the country. Which one did you expect (or didn’t) to see on our list?
