DAN reports foretell the unprecedented rise in digital advertising in 2019 !!
Dentsu Aegis Network (DAN) has revealed that the pace of advertising will go higher in 2019 especially for digital advertising. The key highlights of the reports published by DNA analyzing the growth of advertising in India from 2018 to its rise in 2019 include:
- Currently the Indian advertising market is worth Rs.61, 878 cores which is now expected to grow at 10.62% CAGR till 2021. This growth rate will amount to a market size of Rs.85, 250 cores.
- The digital advertising currently amounts to a market size of Rs.10, 819crore and the expected growth rate is 31.96% that will expand the market to Rs.24, 920crore.
- At present television and print take up 70% while digital media takes up only17% of the total media spends. However, the rapid digital transformation is pacing up the adoption of digital media which in turn will increase the media spends share for digital advertising at huge rate.
Sectors that spend hugely on Digital Media:
- BFSI (Banking, Financial services and Insurance): 38%of their total marketing budget.
- Consumer Durables: 36%
- E-Commerce: 34%
- Telecom: 31%
Digital media revolution in India is credited to:
- Technological advancements
- Advance tools for data science and analytics
- Algorithm implementation to automate different procedures
- Stricter ad fraud control
- Improvement of data policies and regulations
- Increased usage of mobile phones
- Availability of internet services in both rural and urban areas of India.
The growth of digital media is sure to push the bar for other traditional media like TV, Print and Radio, as this is more data driven and interactive in nature. The penetration of technology in rural areas of India due to mobile phones has enhanced the scope of reaching different segments of audience through digital ads. The availability of internet has already increased the digital media expenditure on mobile phones. Currently it amounts to 47% which is expected to reach 67% by 2021. These statics reveal the shining future of digital media in India in coming years.