Market Insights Advertising & Media Advertising Out-of-Home Advertising

Digital Out-of-Home Advertising - India

India

Ad spending in the Digital Out-of-Home Advertising market in India is forecasted to reach €97.80m in 2024.
The expected annual growth rate (CAGR 2024-2029) is 15.87%, leading to a projected market volume of €204.30m by 2029.
With a projected market volume of €4,048.00m in 2024, the majority of ad spending will originate from China.
The average ad spending per capita in the Digital Out-of-Home Advertising market is anticipated to be €0.07 in 2024.
India's Digital Out-of-Home Advertising market is rapidly expanding, driven by increased internet penetration and innovative technological solutions.

Key regions: India, France, United States, United Kingdom, China

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Analyst Opinion

The Digital Out-of-Home Advertising market in India has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: Indian consumers are increasingly becoming tech-savvy and digitally connected, which has led to a rise in the demand for digital out-of-home advertising. With the increasing use of smartphones and other digital devices, people are constantly exposed to digital content and expect interactive and engaging advertising experiences. This has led to a shift in customer preferences towards digital out-of-home advertising, which offers dynamic and interactive content that can capture their attention and deliver targeted messages.

Trends in the market: One of the key trends in the digital out-of-home advertising market in India is the adoption of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad space, enabling them to target specific audiences and optimize their ad campaigns in real-time. This trend is driven by the need for more efficient and effective advertising solutions, as well as the increasing availability of data and analytics tools that enable advertisers to better understand their target audience and measure the impact of their campaigns. Another trend in the market is the integration of digital out-of-home advertising with other digital channels, such as mobile and social media. This allows advertisers to create seamless and integrated campaigns that can reach consumers across multiple touchpoints, increasing the effectiveness and impact of their advertising efforts. This trend is driven by the need to engage consumers in a connected and fragmented media landscape, where they are constantly switching between different devices and platforms.

Local special circumstances: India's rapid urbanization and growing middle class population are key factors driving the growth of the digital out-of-home advertising market. As more people move to cities and their disposable incomes increase, advertisers are looking for ways to reach this increasingly affluent and urban audience. Digital out-of-home advertising offers a cost-effective and scalable solution to reach consumers in urban areas, where traditional media channels may be less effective. Furthermore, the government's focus on infrastructure development and smart cities initiatives is creating new opportunities for digital out-of-home advertising. As cities become more connected and technology-driven, there is a growing demand for digital advertising solutions that can deliver relevant and timely messages to consumers in public spaces, such as airports, shopping malls, and transit stations.

Underlying macroeconomic factors: India's strong economic growth and rising consumer spending power are key macroeconomic factors driving the growth of the digital out-of-home advertising market. As the economy continues to expand and more people enter the middle class, advertisers are looking for ways to tap into this growing consumer base. Digital out-of-home advertising provides a unique opportunity to reach consumers in a targeted and impactful way, making it an attractive option for advertisers looking to maximize their return on investment. Additionally, the increasing penetration of smartphones and internet access in India is fueling the growth of the digital out-of-home advertising market. With more people accessing digital content on their mobile devices, advertisers are leveraging this trend to deliver personalized and location-based advertising messages to consumers in real-time. This not only enhances the effectiveness of their campaigns but also allows them to measure the impact of their advertising efforts more accurately. In conclusion, the digital out-of-home advertising market in India is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As the country continues to urbanize and its middle class population expands, the demand for digital out-of-home advertising is expected to further increase, creating new opportunities for advertisers and driving the growth of the market.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers internet-connected out-of-home advertisements such as digital billboards, digital street furniture, digital transit and transportation, and digital 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.