NEW DELHI, INDIA — Creative agency Dentsu India has unveiled the highly anticipated “Dentsu Digital Report 2024,” an insightful exploration of the evolving landscape of the Indian advertising industry. This extensive report, now in its eighth edition, not only forecasts the industry’s growth trajectory but also delves into emerging trends that promise to reshape the advertising landscape.
The report showcases the Indian advertising sector’s resilience and vibrancy, forecasting a robust Compound Annual Growth Rate (CAGR) of 9.86%. The industry is poised to reach a staggering Rs. 1,12,453 crore by 2025. An in-depth analysis of advertising spending patterns across key sectors, including FMCG, ecommerce, consumer durables, and automotive, reveals a significant shift. Digital media has emerged as the dominant medium, now constituting 44% of the total advertising expenditure, surpassing television.
The Dentsu India Digital Report 2024 doesn’t just stop at analyzing current trends; it forecasts new avenues for growth in unconventional sectors like tourism, government, and real estate. It showcases innovative strategies that captivate audiences, emphasizing the pivotal role of regional and vernacular content, influencers, and user-generated content in establishing meaningful connections with consumers.
A significant focus of the report centers on the ascent of digital advertising as the primary catalyst for industry evolution. It unveils that social media, online video, and paid search are at the forefront of digital media spending. E-retail platform advertising also commands a substantial share of the digital media market. The report sheds light on the industry’s adoption of programmatic buying for digital media, leveraging advanced technologies for a more efficient and effective media procurement process.
The report envisions a new era of media innovation, where the convergence of technology and human creativity yields immersive and impactful experiences. It explores emerging Artificial Intelligence (AI) trends, extended reality (XR), and sustainability, showcasing how they will reshape the industry and open new avenues for advertisers and consumers alike.
Harsha Razdan, CEO for South Asia at dentsu, said “India’s digital revolution is more than a surge of numbers; it’s a wave of change that is sweeping across our lives, our industries, and our society. Artificial intelligence is the driving force behind this change, enabling our ecommerce market to reach $200 billion by 2026. But as we embrace this AI-powered era, we must also redefine our vision of success. It’s not enough to aim for financial growth; we must also strive for social good. We must be human in the face of technology — empathetic, creative, and courageous — shaping the future of Indian advertising with transparency, accountability, and ethics. The dentsu India Digital report 2024 is not just a snapshot; it’s a call to action to join us in creating a future that is ours to shape.”
Narayan Devanathan, Group Chief Strategic Advisor at dentsu India, commented, “The dentsu India Digital report is a testament to our commitment to providing our clients with the best-in-class solutions and insights that help them navigate the dynamic and complex media landscape. We believe that digital media is not just a medium but a mindset that drives innovation and creativity across all platforms and formats. The report showcases how digital media has become the dominant force in the industry, surpassing television and influencing other media as well. It also reveals the potential of emerging sectors, trends, and technologies that will shape the future of advertising and consumer engagement. We are confident that this report will serve as a valuable resource for advertisers, media owners, and industry stakeholders, as well as inspire them to embrace the opportunities and challenges that lie ahead.”
To access the full report, visit here.