According to a new report by Expert Market Research titled, “India Advertising Market Share, Size, Report and Forecast 2024-2032″, the Indian advertising market size reached a value of USD 916.32 billion in 2023. Aided by the increasing penetration of digital media and the growing spending on advertisements by various sectors, the market is projected to further grow at a CAGR of 11.0% between 2024 and 2032 to reach a value of USD 2344.01 billion by 2032.
Advertising is a crucial element in the marketing strategies of businesses across various sectors. It encompasses a range of mediums, including television, print, digital, radio, and outdoor advertising, to promote products and services to a broad audience. The Indian advertising market is characterized by its diverse and dynamic nature, with a mix of traditional and digital advertising channels catering to different consumer segments.
The increasing penetration of digital media is driving the Indian advertising market growth. With the rapid adoption of smartphones and the internet, digital platforms have become a key medium for advertisers to reach their target audience. The rise of social media, online video streaming, and e-commerce platforms has further fuelled the demand for digital advertising. Additionally, the growing trend of programmatic advertising and the use of data analytics to optimise ad campaigns have enhanced the effectiveness of digital advertising, making it an attractive option for advertisers.
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The expanding applications of advertising across various sectors also play a significant role in propelling the advertising market in India. The consumer goods, automotive, healthcare, and financial services sectors are among the major contributors to advertising spending. These sectors leverage advertising to build brand awareness, promote new products, and engage with their customers. The increasing competition among businesses and the need to differentiate themselves in the market have led to a surge in advertising expenditure.
Furthermore, the growing emphasis on personalised and targeted advertising has led to the adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML). These technologies enable advertisers to analyse consumer behaviour, segment their audience, and deliver personalised ads that resonate with their target audience. The use of AI and ML in advertising is expected to drive the growth of the market by improving the efficiency and effectiveness of ad campaigns, consequently driving up the Indian advertising market share.
Television is one of the largest and most influential advertising mediums in India. It offers a wide reach and the ability to engage with a broad audience. Television advertising includes commercials, sponsorships, and product placements. The growing viewership of television and the popularity of entertainment and sports programs make it an attractive option for advertisers.
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Print advertising includes newspapers, magazines, and other printed publications. Despite the growth of digital media, print advertising continues to be an important medium for advertisers, particularly for reaching older and more affluent audiences. Print advertising offers high credibility and the ability to target specific demographics.
Digital advertising includes online ads, social media ads, search engine marketing, and mobile advertising. The increasing penetration of the internet and smartphones has made digital advertising one of the fastest-growing segments in the market. The ability to track and measure the performance of digital ads in real-time, along with the use of data analytics and programmatic advertising, has made digital advertising an attractive option for businesses.
As per the Indian advertising market analysis, North India is the largest market for advertising, driven by the high concentration of businesses and the presence of a well-developed media infrastructure. The region has a significant demand for advertising across various industries, including consumer goods, automotive, and financial services.
Market Segmentation
The market can be divided based on medium and region
Market Breakup by Medium
• Television Advertising
• Radio Advertising
• Print Advertising
• Internet/Online Advertising
• Outdoor Advertising
• Mobile Advertising
Market Breakup by Region
• North India
• East and Central India
• West India
• South India
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Indian advertising market. Some of the major players explored in the report by expert market research are as follows:
• Crayons Advertising Limited
• The DDB Mudra Group
• Creation Infoways Pvt. Ltd
• Avail Advertising India Pvt Ltd
• Triverse Advertising Pvt. Ltd
• Purnima Advertising Agency Pvt. Ltd
• Web Cures Digital
• Urja Communications Pvt. Ltd
• SocialPulsar
• Dentsu India
• Others
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