The Traditional Out-of-Home Advertising market in India has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Indian consumers have shown a strong preference for traditional out-of-home advertising methods, such as billboards, posters, and signage. This can be attributed to the large population and high levels of foot traffic in cities and towns across the country. Additionally, many Indians still rely on public transportation, making transit advertising a popular choice for reaching a wide audience.
Trends in the market: One of the key trends in the Indian out-of-home advertising market is the increasing use of digital technologies. Digital billboards and interactive displays are gaining popularity, as they provide advertisers with more flexibility and the ability to target specific audiences. This trend is expected to continue as technology becomes more accessible and affordable in India. Another trend in the market is the growing popularity of experiential advertising. Brands are increasingly looking for unique and engaging ways to connect with consumers, and out-of-home advertising provides an opportunity to create memorable experiences. This can include interactive installations, live events, and street art campaigns.
Local special circumstances: India's rapid urbanization and infrastructure development have contributed to the growth of the out-of-home advertising market. As more cities and towns are being built or expanded, there is a greater need for advertising to reach the growing population. Additionally, the rise of shopping malls and retail centers has created new opportunities for out-of-home advertising, as brands look to attract consumers in these locations.
Underlying macroeconomic factors: India's strong economic growth and increasing consumer spending power have also played a role in the development of the out-of-home advertising market. As more people have disposable income, brands are willing to invest in advertising to reach this expanding market. Additionally, the rise of e-commerce in India has created a need for brands to promote their products and services offline, leading to increased demand for out-of-home advertising. In conclusion, the Traditional Out-of-Home Advertising market in India is developing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and India's population and economy grow, the out-of-home advertising market is expected to continue its upward trajectory.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and place-based media.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.Additional notes:
Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.
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