Digital Advertising has increased with tremendous growth over the past few years.
The year 2022 was a remarkable year for Digital Advertising Agencies with a recorded growth of 52%. “A new entrant in the top ten list was the ‘building, industrial and land materials’ industry, ‘Rewinding Y 2022 for Advertising in Digital’ by TAM AdEx. AdEx is the advertising information systems (AIS) division of TAM Media Research” said a report.
The top category for advertising was the industry of E-commerce in 2022. New entries in advertising were online financial services and competitive exam centers in the top 10.
Ad network was recorded as the most used method for boosting ads and HTML5 had the most recorded uploading followed by banners and video.
Online Shopping recorded a 7% increase since 2021 and the software category with 6%. In this section, Amazon India, Grammarly Inc., Samsung India, and Google India were some new entrants.
The growing categories include smartphones as the highest recorded insertions of 2.9 times heeded by coaching and competitive exam centers with 2.1 times growth. In terms of ad positioning growth, online E-commerce witnessed the highest among all.
In a recent analysis, Dentsu indicated that the domestic advertising sector has been increasing at 18.1% from 2021 with a market size of ₹85,769 crore. The sector is predicted to increase at a compounded annual growth rate of 15.07% to reach ₹1.13 lakh crore by the end of 2024, according to the research ‘Dentsu India Digital Report 2023’.
It claimed there was a substantial tilt towards digital media with digital advertising having a market share of more than a third of the whole market size at ₹29,784 crores, expanding at a far higher pace at 39.5% over 2021. It is predicted to reach ₹51,110 crores, with a compounded growth rate of 31%, by 2024.