Digital advertising in India surprised expectations and grew at a fast clip of 33% annually between 2010 and 2015, with the total spend just shy of $1 billion, Morgan Stanley has said in a report.
“As a result, digital advertising as a % of total advertising grew from 4% in 2010 to 13% in 2015,” the merchant banker and global consultancy said. The market in China, though, grew at 53%.
An analysis released last month, the Ficci-KPMG report on the Indian media and entertainment industry, has said India’s digital advertising spending will reach around $4 billion by 2020, translating into a 26% share of the total Indian ad market.
It is also predicted to topple print media to become the second-largest medium after television. But overall, advertising market in India still remains small -- its total advertising spend was only 0.3% of GDP in 2015, compared to 1% in the US and 0.6% in China.