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Indian Online Advertising – Exponential Growth in One of the Fastest Growing Economies
As one of the fastest growing economies in the world, India presents a lucrative market to companies all over the globe. With over 700 million mobile users, and over 51 million internet users as per the World Bank, the Indian online advertising market is poised to bring in huge returns in the coming years.
Reports of the size of the Indian online advertising market vary, but by all estimates, it has witnessed 40-50% year on year growth for the past few years. A conservative estimate by Lintas Media group puts the market at Rs. 2500 crore (or approximately $550 million USD) by 2011. Further, with increasing internet penetration, more and more companies are jumping online and spending exorbitant amounts to get the attention of the Indian consumer. Today, you more likely to see a company put its website address alongside its phone number in a print ad in any Indian newspaper.
A number of Indian ad networks and complete interactive agencies have come up online of late to cater to the exponential growth in online advertising in India. Komli, Tyroo, DGM, Pubmatic, Ozone Meida paypod etc. you get such advertising agencies details on companiesinindia which are the major ad networks that offer marketing solutions from performance based advertising, to pay-per-click or CPM based models. Unlike a few years ago, whatever your advertising needs may be, you can easily find a suitable network to meet it.
The growth in online advertising has coincided with the increasing use of credit cards and internet banking. Traditionally a financially conservative society that has savings rather than extravagance as its credo, Indians of late have taken a fancy to credit cards and consumerism. The new generation of Indians born after the economy was opened up in 1991 have disposable incomes which they don’t mind spending. The average Indian is much more comfortable spending money online than he was 5 years ago. Of course, a range of safe, easy to use, and efficient e-commerce sites have facilitated this transformation.
Overall, the Indian online advertising space has witnessed tremendous growth – from $550 million in 2008-2010 to an estimated $750-$1000 in 2015. In the years to come, this growth will only increase manifold, and so will the competition. It has never been easier than it is today to advertise online in India, with Companies offering SEO Services and Web Design that cater solely to the Indian audience. Internet advertising is poised to remain a bright spot in the ad space.
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