인도의 광고 시장 : 유형별, 지역별, 기회, 예측(2018-2032년)

India advertising market is projected to witness a CAGR of 10.10% during the forecast period FY2025-FY2032, growing from USD 11.41 billion in FY2024 to USD 24.65 billion in FY2032. The market has maintained positive momentum, strengthened by digitalization, technological advancements, digital innovation, and evolving consumer behavior.

Currently, numerous companies are actively adopting advertising to intensify customer retention and entice new buyers. This is one of the primary factors contributing to the burgeoning growth of the advertising market in India. Secondly, in the digital age, brands leverage all forms of advertising to enhance brand awareness, expand penetrations, and build business loyalty, consequently proffering a positive market outlook in the nation.

With explosive smartphone penetration and skyrocketing internet subscribers, brands are aware that a significant portion of their target audience is on digital platforms. Additionally, there is a surge in the need for convenient and cost-effective advertising solutions among the masses. The commingling of both the aforementioned factors contributes to the increasing demand for digital advertising, thus notably propelling the market's growth.

India's advertising market is undergoing a robust metamorphosis, where hyperlocal content, personalized targeting, and data-driven strategies have taken center stage, altering ways in which brands and audiences connect and interact.

What makes India's advertising market truly unique is its amalgamation of hyperlocal preferences, regional content, media mergers, and cultural and sports phenomena such as cricket. These facets combine to create one of the most dynamic, challenging, and rewarding domains for brands to navigate. Yet, with nearly half of the population still offline, the potential for growth remains staggering.

Owing to government policies supporting foreign direct investment (FDI), soaring advertising spending and revenues, and a burgeoning middle class forecasted to grow by 47% and reach 715 million in 2030-2031, the opportunities for innovation are boundless.

According to a report by IPG Mediabrands-owned media investment firm Magna Global, India is now consistently the fastest-growing market and steers ad spend growth globally. Additionally, India is expected to enter the top ten markets and seize the eighth position by 2028.

Purpose-Driven Advertising Takes a Front Seat Among Consumers

The days of purely transactional advertising are over. Modern consumers, especially millennials and Gen Z, prioritize brands that take a stand on societal issues. Therefore, purpose-driven advertising has become necessary for engaging these socially conscious audiences. From promoting sustainability and mental health to challenging gender stereotypes, Indian advertisers are increasingly aligning their messaging with consumer values.

While more consumers seek products from brands that resonate with their values, this trend has drastically altered advertising strategies, persuading brands to go beyond selling products, curate compelling narratives, and drive meaningful societal change. Today's mindful consumers choose brands whose purpose should not be confined to a specific day, such as Women's Day or Father's Day; it must be an ongoing, ingrained commitment.

In May 2024, Honasa Consumer Limited, India's leading beauty and personal care company with a diverse portfolio of purpose-driven brands such as Aqualogica, Mamaearth, and Bblunt, announced the launch of its first impact report, 'Driven by Purpose', overarching commitment to enriching both consumers and communities through environmental and sustainable initiatives. Through Mamaearth's Plant Goodness Initiative, the company planted 5 lakh trees, empowered 581 farmers, and promoted sustainable agriculture. The program is expected to yield over 10,000 tons of fruit annually, generate INR 20 crore in revenue, sequester 250,000 tons of carbon, and green 3500 acres of land.

Hyperlocalization Advertising Driving the Wheels of Innovation

Advertisers follow where their audiences go. Localism has made inroads in India's advertising market. Advertisers are departing from pan-India approaches as consumer preferences shift towards more culturally relevant and region-specific content. Instead, brands tap into unique tastes, preferences, traditions, and cultural values to build more authentic connections.

Cities such as Chennai, Bangalore, and Mumbai have become prime examples of successful hyperlocal marketing with outdoor mediums such as billboards effectively reaching local audiences.

Additionally, the surging popularity of audio streaming, podcasts, and short-form video content on platforms such as Instagram and OTT services has enabled more precise targeting and improved ad campaign effectiveness.

The rise of regional content on platforms such as ShareChat and Moj has also enabled brands to connect with audiences in Tier 2 and Tier 3, further enhancing their reach. Meanwhile, AI-driven targeting, big data analytics, and short-form video content on platforms like Instagram and OTT services have enhanced ad campaign efficiency, improving engagement, ROI, and lead generation.

In 2023, YouTube introduced AI-powered tools in its Ads Creative Studio to help marketers create tailored ads for different regions, languages, and contexts. Features such as Flip Video, which enables vertical video creation, and Trim, which generates 6-second bumper ads from longer content, showcase

Digital Advertising Dominates the Advertising Domain in India

In an era where screens fit into palms and pockets, advertising follows consumers wherever they go; be it through social media, Podcasts, OTT, or e-commerce platforms. These platforms are being actively leveraged by brands to tap into their potential digital audience, consequently creating a battleground for advertisers.

Digital media dominates the broader advertising domain in India. In 2023, digital media surpassed television and print media to become the largest advertising medium. Backed by the Government of India's initiatives to enhance digital infrastructure, digital media continues to expand rapidly. The widespread use of smartphones has brought even the most remote regions within the reach of digital advertising and, hence, has surged India's advertising demand. With smartphone penetration at an all-time high and the nation's affordability of data, advertising has flourished far beyond traditional TV and radio.

According to a 2024 report by Dentsu, digital media will reach a staggering USD 7.22 million (INR 62,045 crore) by 2025. By then, digital advertising is expected to account for 55% of total ad spending, outpacing traditional media formats such as TV (25%) and print (16%).

Digital advertising via diverse platforms navigates budget constraints, ensures precise targeting and boosts overall performance. As consumers spend more time scrolling on digital platforms, brands tend to allocate higher budgets for digital advertising. Furthermore, the rise of digital media platforms has provided advertisers with rich, data-driven insights. These insights enable the development of highly targeted and personalized marketing strategies. This precise targeting is made possible by the extensive user data collected by these platforms, offering a comprehensive understanding of consumer behaviours, preferences, and purchasing patterns.

Video advertising, as a segment of the digital advertising market in India, is booming. Social media platforms such as Facebook, Instagram, and YouTube have integrated video advertising options to simplify it for brands to tap into their target audience. As per Denstu's report, social media dominates digital media spending, contributing with a 30% share, which is about USD 1.39 billion (INR 11,962 crore). This was followed by online video with 28% (USD 1.32 billion), paid search with 23% (USD 1.09 billion), and display banners contributing 16% to the digital advertising market in India.

According to a 2024 report by Primus Partners, 80% of surveyed Small and Medium Businesses rely on online advertisements. The study highlights that 42% of SMBs allocate over 40% of their marketing budgets to digital ads, with 74% affirming the effectiveness of personalized campaigns.

Festivals and Sporting Events Contributing to Ad Revenue in India

India's advertising market is remarkably influenced by cultural and sporting events, with festivals, IPL, and the World Cup as key ad spending drivers. These events create a seasonal spike in consumer engagement, making them prime periods for brands to launch campaigns and connect with audiences.

Festivals such as Holi and Diwali represent emotional touchpoints for Indian consumers. Brands leverage these sentiments to push high-decibel campaigns, primarily focusing on consumer durables, FMCG, and e-commerce. The increasing penetration of digital platforms has further amplified festive advertising, enabling personalized campaigns on OTT, social media, and e-commerce platforms. Aligning with the festive spending psyche, brands proactively promote discounts, flash sales, and limited-edition products.

Sporting events such as IPL and World Cup have emerged as a powerhouse of advertising for brands, drawing brands across industries such as F&B, consumer durables, personal care fintech, and automobiles. Brands meticulously focus on nail-biting bits of the match that guarantee maximum eyes on the screen. Along with filling ad slots, advertisers now aim to garner the attention of millions of viewers.

In 2023, during the second and third week of the ICC Cricket World Cup 2023, India matches saw 178% more ad slots than matches that did not feature the Indian cricket team.

In 2024, JioCinema's exclusive digital rights to IPL garnered 111 million viewers on day one, while Disney+ Hotstar, which owns linear TV rights to the annual cricket tournament, drew a core audience of 44 million. JioCinema emerged as the dominant platform for IPL streaming, attracting a staggering number of advertisers - over 13 times more than TV during the event.

While festivals and sporting events offer immense audience engagement, advertisers face challenges, including high competition and skyrocketing media costs. Consequently, to maximize ROI, brands are switching to a blend of data-driven insights, influencer marketing, regional targeting, and more to maintain their competitive edge.

Future Market Scenario (FY2025 - FY2032F)

Infrastructure enhancements will continue to boost India's out-of-home (OOH) advertising market.

With mobile usage on usage, mobile advertising will become a prime focus, driving personalized and localized ads.

Regional and hyper-localized campaigns will significantly contribute to the growth India advertising market.

AI-driven tools will optimize ad targeting and deliver more personalized experiences.

Video streaming will emerge as a frontrunner, highly leveraged by the digital-first consumers.

Digital domination will continue to enhance, with increasing investments in social media, video platforms, and influencer marketing.

Key Players Landscape and Outlook

India advertising market is thriving, catapulted by innovation, strategic campaigns, and surging digital penetration. Key players are pivotal in shaping brand narratives, bagging high-profile mandates, and expanding their global capabilities.

In 2023, DDB Mudra, known for creating iconic campaigns such as Only Vimal and God's Own Country for Kerela Tourism, was contracted by the Congress party to lead its publicity campaigns for the 2024 Lok Sabha elections.

In October 2023, FCB Ulka secured the creative mandate for Shoppers Stop, India's leading premium fashion and beauty omnichannel retailer. The agency will handle integrated marketing campaigns to strengthen Shoppers Stop's positioning in the competitive retail market.

In 2023, IPG Mediabrands opened its largest Global Capability Centre (GCC) in Pune, which will house 3000 employees within two years. The center will focus on media activation. Product development and engineering, serving over 500 global clients across industries.

In 2023, GroupM, a WPP-owned media agency network, dominated the media business domain with new business wins exceeding USD 654 million (New Business Barometer 2023 Report). It retained its leadership, followed by IPG Mediabrands and Omnicom Media Group, with USD 200 million and USD 128 million in new business value, respectively.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Brand Awareness and Loyalty
• 4.3. Trends in Consumer Expectations
• 4.4. Insights from Advertisers and Brands
• 4.5. Audience Engagement Preferences
• 4.6. Role of Technology in Shaping Consumer Preferences
• 4.7. Consideration of Privacy and Regulations

5. India Advertising Market Outlook, FY2018-FY2032F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Type
    • 5.2.1.1. Television Advertising
    • 5.2.1.2. Print Advertising
      • 5.2.1.2.1. Newspaper
      • 5.2.1.2.2. Magazines
      • 5.2.1.2.3. Others
    • 5.2.1.3. Radio Advertising
    • 5.2.1.4. Online Advertising
    • 5.2.1.5. Mobile Advertising
    • 5.2.1.6. Out-of-Home (OOH) Advertising
      • 5.2.1.6.1. Billboards
      • 5.2.1.6.2. Posters
      • 5.2.1.6.3. Street Furniture
      • 5.2.1.6.4. Transit Advertising
      • 5.2.1.6.5. Others
  • 5.2.2. By Region
    • 5.2.2.1. North
    • 5.2.2.2. South
    • 5.2.2.3. East
    • 5.2.2.4. West and Central
  • 5.2.3. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Type
  • 5.3.2. By Region

All segments will be provided for all regions covered

6. Regulatory Landscape

7. Demand Supply Analysis

8. Import and Export Analysis

9. Value Chain Analysis

10. Porter's Five Forces Analysis

11. PESTLE Analysis

12. Pricing Analysis

13. Market Dynamics

• 13.1. Market Drivers
• 13.2. Market Challenges

14. Market Trends and Developments

15. Case Studies

16. Competitive Landscape

• 16.1. Competition Matrix of Top 5 Market Leaders
• 16.2. SWOT Analysis for Top 5 Players
• 16.3. Key Players Landscape for Top 11 Market Players
  • 16.3.1. Ogilvy AND Mather Private Limited
    • 16.3.1.1. Company Details
    • 16.3.1.2. Key Management Personnel
    • 16.3.1.3. Products and Services
    • 16.3.1.4. Financials (As Reported)
    • 16.3.1.5. Key Market Focus and Geographical Presence
    • 16.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 16.3.2. DDB Mudra Group
  • 16.3.3. Group M Media India Pvt. Ltd.
  • 16.3.4. Draftfcb Ulka Advertising
  • 16.3.5. Mediabrands Worldwide, Inc. (IPG Mediabrands)
  • 16.3.6. Dentsu Advertising and Media Services India Private Limited or Dentsu India Private Limited
  • 16.3.7. Chaitra Leo Burnett Private Ltd.
  • 16.3.8. Rediffusion Brand Solutions Private Limited
  • 16.3.9. Grey Global Group Private Limited
  • 16.3.10. McCANN-Erickson India Ltd
  • 16.3.11. GH Digital Media Pvt Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

17. Strategic Recommendations

18. About Us and Disclaimer