Digital ad market to touch Rs. 12,046cr by December: Report
Digital advertising spends in India are estimated to grow at a compounded annual growth rate of 30% to reach Rs. 12,046cr by 2018-end, says an Internet and Mobile Association of India (IAMAI) and Kantar IMRB report. Digital advertising spends which were estimated to be around Rs. 9,266cr in 2017, would be about 16% of total ad spends in the country pegged at Rs. 59,000cr.
BFSI led the digital ad spends in 2017
"In terms of total spends, banking, financial services, and insurance (BFSI) led the digital ad-spends in 2017 at around Rs. 2,022cr with 46%, followed by e-commerce, telecom, and travel," the report said noting that 68% of the overall digital ad-spends comes from these four verticals.
27% of total digital spends in 2017 made on search
The report also said 27% of total digital ad spends in 2017, around Rs. 2,502cr was made on search, followed by spends on video and mobile with ad spends being Rs. 1,779cr and Rs. 1,761cr, respectively. Ad spends on social media were 18%, around Rs.1,668cr, with the least being spent on display ads that have 16% share with total ad spend being Rs. 1,483cr.
Spends on mobile advertising reported YoY growth of 34%
The report observed that spending on mobile advertising (SMS/in-app ads) reported a year-on-year growth of 34% from Rs. 1,314cr in 2016 to Rs. 1,761cr in 2017. "This is because advertising on mobile is considered to be innovative and conveys the message clearly. In-app advertising is currently being explored and used across various industry sectors since it is believed to fetch better monetization," it said.
