Digital ad spend growth rate India 2019-2023
Reasons for digital ad growth
A surge in internet penetration, widespread availability and affordability of 4G services along with a growing popularity of smartphones have given stimulus to the digital advertising market in India. Moreover, cheaper ad rates and an ability to track the returns on investment have made it easier for even small business owners to craft their own ad budgets.
Social media ads hold center stage
Of the available digital media options in the country, social media ads garnered the highest share of digital advertising expenditure in 2019, followed by the paid search format. This is justifiable when over 351 million Indians could be reached via social media that year. With evolving tools for audience tracking and measurement on digital platforms, digital ad spends are projected to get a bigger share of the pie in the coming years.