Digital advertising in India has come a long way and digital is no longer just a medium but has become a way of doing business. According to a report on digital advertising,
the Indian digital advertising industry,
currently sized at around Rs. 8,
is expected to see a growth of 32% CAGR to reach Rs. 18,
986 crore by 2020.
Future of Digital Advertising in India
India will have around 50 crore internet users where digital media spends currently make about 15% of the total advertising industry. By 2020,
it is estimated to increase to 24% of the entire industry.
Digital advertising spends will grow around 32% in 2018 while globally,
it is expected to overtake TV spending by 2018. The rise in internet usage is led by the roll-out of 4G,
coupled with reducing data costs and the increasing number of smartphone users. Some of the key influences of the growth of digital media are video content along with the engaging mobile experience,
etc. The Indian advertising market is expected to grow at a very high rate over the next few years. It is well-poised to be one of the biggest markets in APAC region. Some of the key growth drivers of digital advertising in India are as follows:
When it comes to performance advertising,
digital media has evolved as a powerful platform. The rapid growth of internet-enabled businesses such as e-commerce,
etc. has also caused a shift of ad expense towards digital ad platforms. The power of better measurability is attracting more and more business to digital advertising. Although the growth of digital media in India is much lower when compared to the matured markets around the globe,
the country carries immense potential for easy and powerful digital advertising consumption. To stay ahead of the competition,
businesses are leveraging disruptive technologies like AR,
VR and AI. Using them,
businesses are consolidating digital advertising strategies across formats and devices to reach the most valuable audiences at scale.
With the growth of digital advertising,
businesses must need to change their advertising strategies to digital. As we said,
digital is fast becoming a way of building business. This is a critical takeaway for you to understand and take full benefit of the growth of digital advertising in your business.