India Advertising Market 2023-2029 Size, Industry, Share, Analysis, COVID-19 Impact, Forecast, Value, Revenue, Companies, Trends & Growth: Market Forecast By Type and Competitive Landscape

India Advertising Market Synopsis

In the last decade, India advertising market experienced steady growth, but in 2020, several companies curtailed their advertising spending due to a significant decrease in consumer confidence, leading to an economic demand shock. By 2021, the market rebounded, surpassing pre-pandemic levels as restrictions were eased. The surge in advertising expenditure was fueled by pent-up demand among various brands and improved cash flows, indicating a robust resurgence in the Indian market. Following this recovery, in 2022, the advertising expenditure in the market surged by an impressive 21 percent. This increase was in line with the heightened consumer confidence levels, reflecting India's resilient demand-side fundamentals.

According to this research, India Advertising Market size is anticipated to grow at a CAGR of 12.7% during 2023-2029. The market is expected to expand driven by India's demographic dividend and a rapid economic growth rate of 6.7 percent, which is currently the world's fastest, consequently, it would provide Indians with increased purchasing power. The concurrent rapid growth in digital adoption will also contribute significantly. These combined factors are anticipated to prompt Indian businesses to escalate their advertising budgets, thereby boosting revenues in India's advertising landscape. The industry is witnessing robust growth and holds significant potential for future expansion, owing to the country's demographic advantage and rapid economic growth, which significantly amplifies the consumer base. India's GDP is forecasted to double by 2030, reaching a substantial economic market size of $6.7 trillion, with 65% of the population being below the age of 35, thereby, further expanding the country’s consumer base and hence, would escalate consumption driven growth in the economy, positioning India as a lucrative advertisement hub for new players. India’s Ad blockers usage serves as a major market constraint in the future growth of advertising in India as it significantly hinders advertisement reach businesses across internet and mobile advertisement segments.

India Advertising Industry: Key Players

Some most popular players in the market that help stimulate its growth are mentioned below:

• GroupM India
• Ogilvy & Mather
• Dentsu Aegis Network
• Havas Media
• Publicis Groupe
• FCB Ulka
• IPG Mediabrands
• Madison World
• Grey Group
• Lowe Lintas
• MullenLowe Lintas Group
• Wunderman Thompson
• Cheil India
• McCann Worldgroup
• Leo Burnett
• Advertising Market in India: Government Regulations

One of the significant regulatory bodies overseeing the advertising market in India is the Advertising Standards Council of India (ASCI). This regulatory body acts as a self-regulatory organization which sets guidelines as well as monitors advertising content in order to ensure it adheres to ethical standards. It also addresses issues associated with misleading claims, offensive content, and unfair competition. In addition to this, the Ministry of Information and Broadcasting (MIB) also has essential role in regulating advertising content on television and radio. It has set standards for advertising time slots, and ensures that advertisements do not infringe upon program content or deceive viewers. The Food Safety and Standards Authority of India (FSSAI) is another significant regulatory body which governs advertising in the food and beverages market. FSSAI necesseitate that advertisements for food products comply with specific labeling and packaging needs.

Market by Type

The significant market contribution has been from TV owing to the large consumer base and their reliance on linear TV for entertainment. As of December 2022, the DTH subscriber base stood at 66.62 million. However, the rate of subscriber base growth has decelerated due to the proliferation of diverse alternatives available to Indian consumers. Moreover, the rapid proliferation of smartphone functionalities and applications, combined with India's burgeoning digital infrastructure, is poised to establish a new market hierarchy with mobile devices taking the lead.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• India Advertising Market Overview
• India Advertising Market Outlook
• India Advertising Market Forecast
• Historical Data and Forecast of India Advertising Market Revenues for the Period 2019-2019F
• Historical Data and Forecast of India Advertising Market Revenues By Types, for the Period 2019-2029F
• Advertising Market - Trends & Evolution
• Market Drivers and Restraints
• India Advertising Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Advertising Market Revenue Share/Ranking, By Companies
• India Advertising Market - Top 50 Advertisers
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Television
• Print (Newspaper and Magazine)
• Radio
• Outdoor
• Internet (Search, Display, Classified, Video)
• Mobile
• Cinema