Online Advertising Market in India to Reach a Value of INR 457.34 Bn by 2023
Research On Global Markets has announced the addition of a market research report titled “Online Advertising Market In India (2018-2023)” to their offering. According to the report, the online advertising market in India is expected to expand at a compound annual growth rate (CAGR) of 34.43% during the 2018-2023 period, to reach a value of INR 457.34 Bn by 2023. The growing popularity of video content, evolution of payment methods, and proliferation of voice-based search interactions are expected to help in further growth of this market.
The research report published by Research On Global Markets features a comprehensive analysis of the online advertising market in India, which is flourishing owing to the increase in the number of 4G connections and smartphones, time spent on mobile phones, and subsequent spends on digital advertising by companies operating in the automotive, food and beverages, and e-commerce industries. In India, the five most popular platforms for online advertising are social media, search, display, video, and classifieds. As of 2017, almost 28% of the online advertising activities were done through social media, which is the highest.
According to Research On Global Markets, on the basis of the amount spent by different market players operating across various industries in India, all major sectors like e-commerce, telecom, consumer durables, media and entertainment, fast moving consumer goods (FMCG), banking, financial services and insurance (BFSI), automotive, and retail have investment heavily on online advertising. This implies that the level of acceptance of the benefits of online advertising has been high across all important business sectors in India.
Analysts at Research On Global Markets believes that government initiatives like ‘Digital India’ is playing a crucial role in the increase in digital consumption across the country. In India, consumers mostly prefer videos and music in the entertainment category. Consumption of digital video has increased from 48% in 2016 to 55% in 2017, which implies a positive impact on spending on video advertisements. However, issues of internet connectivity and low broadband penetration are still prevalent in India, mainly in rural areas, which can hamper the growth of the online advertising market in the foreseeable future.
Research On Global Markets tracks the performance of the major players operating in the Indian online advertising market including Adglobal360 India Private Limited, DDB Mudra Private Limited, Grey Worldwide (India) Private Limited, Interactive Avenues Marketing Solutions Private Limited, Komli Media India Private Limited, Madison Communications Private limited, McCann Erickson India Private Limited, Ozone Media Solutions Private Limited, Pinstorm Technologies Private Limited, and SVG Media Private Limited., among others.
Key highlights of this report:
- India online advertising market – definition
- India advertising market - classification
- Market size and growth forecast - value-wise (2017-2023e)
- Type-wise segmentation (percentage split) 
- Industry-wise digital advertising spends (percentage split) 
- Media-wise digital advertising spends across industry verticals (2017)
- Key growth drivers of the market
- Key deterrents to the growth of the market
- Analysis of the competitive landscape in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for online advertising in India to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.