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- Indian Advertising Industry
Indian Advertising Market to Reach INR 1,977.3 Billion by 2032, Impelled by Rapid Economic Growth
July 04, 2022
| Technology & Media
According to the latest report by IMARC Group, titled "Indian Advertising Market Report by Segment (Television Advertising, Print Advertising, Radio Advertising, Internet/Online Advertising, Mobile Advertising, Outdoor Advertising) 2024-2032," the Indian advertising market reached a value of INR 827.0 Billion in 2023. Advertising refers to a promotional activity that involves the marketing of products, services or brands in order to attract customer’s interest and engagement while increasing sales profit. Additionally, it is an effective method for creating product demand and strengthening market position at national and global levels. It is usually adopted by multiple businesses that include creating an engaging advertisement for reaching targeted audiences. Some of the popular advertising mediums include roadside billboards, sides of buildings, websites, electronic newsletters, print newsletters, inside bills, product packaging, restaurant placemats, event bulletins, store windows, sides of cars and trucks and subway cars walls.
Indian Advertising Market Trends:
The Indian market is primarily driven by rapid economic growth. This is supported by rapid urbanization and the inflating disposable income levels of the masses that have encouraged businesses to heavily invest in the development of aggressive marketing strategies, promotional campaigns, celebrity endorsements and innovative packaging solutions, which are creating a positive market outlook. Moreover, the increasing adoption of digital advertising models due to the rising penetration of high-speed internet connectivity across the country and the widespread utilization of smartphones and digital devices among individuals are further providing an impetus to the market growth. In line with this, continuous improvements in the e-commerce infrastructures and the growing government spending on political advertising are impacting the market favorably. Other factors, including continuous technological advancements across the advertising industry, the increasing expenditure on the media and entertainment sector, continual expansion in media channels, intensive business competition and the advent of subscription-based models for news and entertainment, are also positively influencing the market across India. On account of the aforementioned factors, the market is anticipated to reach a value of INR 1,977.3 Billion by 2032, exhibiting a CAGR of 9.9% during 2024-2032.
Market Summary:
- The market has been segregated on the basis of the segment into television, print, radio, internet/online, mobile and outdoor advertising.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include JWT India, Ogilvy & Mather India, DDB Mudra Group, FCB-Ulka Advertising Ltd., Rediffusion - DY&R and McCann Erickson India.
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