The government’s Digital India initiative is set to boost the size of India’s nascent digital advertisement market, currently pegged at Rs 6,200 crore. The policy initiative aims to make India a digitally empowered society by connecting every Indian on the Internet through affordable smart phones. Analysts say that as more eyeballs shift towards the digital space, boosting visibility on various digital platforms is fast becoming a priority with every brand looking to reach out to their targeted customers. And “as India’s digital space grows bigger, India’s digital advertisement market (with mobile advertising being the subset of digital ad spends) is expected to double-up in next two to three years,” says Sanjay Trisal, Country Manager, AppsFlyer. Trisal provides crucial technology that helps companies to measure the impact of their ads, shown on various mobile and digital platforms, on their actual sales.
According to KPMG, as Indian brands continue to find their feet in the digital advertisement space, it is expected that digital advertisement would match global levels at a faster rate in the years ahead. Currently India’s digital ad spending is peanuts as compared to China that spends over 1 lakh crore in digital advertisement. Sahil Chopra, co-founder of iCubes that helps brands acquire and retain customers through web, mobile and other digital platforms, is even more optimistic about the growth prospects of India’s digital ad market. “Digital market is set to explode in India and in the next five years it should become ten times its current size.” He adds that India’s mobile advertisement market is becoming more performance-oriented with companies making informed decisions before spending their money on digital advertising. So, any mobile platform that gives companies maximum traffic (in terms of actual sales) becomes their preferred promoting medium.
Besides digital India, the growing penetration of smart phones is also set to boost India’s digital space.