The Digital Video Advertising market in India is experiencing significant growth and development.
Customer preferences: Customers in India are increasingly turning to digital video advertising as a means of reaching and engaging with their target audience. This shift in preference can be attributed to several factors. Firstly, the rising penetration of smartphones and affordable data plans has led to an increase in internet usage and video consumption. As a result, advertisers are recognizing the potential of digital video advertising to reach a large and diverse audience. Secondly, the younger generation in India, who are more tech-savvy and spend a significant amount of time online, are particularly receptive to digital video ads. They appreciate the interactive and engaging nature of these ads, which allows them to interact with brands and products in a more immersive way.
Trends in the market: One of the key trends in the Indian digital video advertising market is the rapid growth of programmatic advertising. Programmatic advertising uses automated technology to buy and sell ad inventory, allowing advertisers to target specific audiences and optimize their ad campaigns in real-time. This trend is driven by the increasing availability of data and analytics, which enables advertisers to better understand their target audience and deliver more personalized and relevant ads. Additionally, the adoption of programmatic advertising is being fueled by the increasing number of digital video platforms and ad exchanges in India, providing advertisers with a wider range of options to reach their target audience. Another trend in the market is the rise of mobile video advertising. With the increasing popularity of smartphones in India, mobile video consumption has witnessed significant growth. Advertisers are capitalizing on this trend by creating mobile-friendly video ads that are optimized for smaller screens and can be easily consumed on the go. Mobile video advertising offers a unique opportunity for advertisers to reach consumers at any time and in any location, making it an effective channel for brand awareness and engagement.
Local special circumstances: India is a diverse and multicultural country with multiple regional languages and cultural nuances. Advertisers need to take into account these local special circumstances when creating digital video ads. Localization of content and language is crucial to effectively engage with the target audience in different regions of India. Advertisers also need to consider the cultural sensitivities and preferences of the Indian audience to ensure that their ads resonate with the local population.
Underlying macroeconomic factors: The growth of the Digital Video Advertising market in India is supported by several macroeconomic factors. Firstly, India has witnessed a rapid increase in internet penetration over the past few years, driven by the government's Digital India initiative and the availability of affordable smartphones. This has created a large and growing online audience that advertisers can tap into. Secondly, the Indian economy is experiencing strong economic growth, leading to an increase in consumer spending power. Advertisers are leveraging this opportunity to promote their products and services through digital video advertising. Finally, the rise of e-commerce in India has also contributed to the growth of the digital video advertising market. E-commerce platforms are increasingly using video ads to showcase their products and attract customers, driving the demand for digital video advertising.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. 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, internet users, and digital consumer spending.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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