New Delhi: Digital advertising rose a robust 52% year-on-year in 2022. The service sector was the top advertiser on the digital medium. A new entrant in the top ten list was ‘building, industrial and land materials’ industry, said a report, ‘Rewinding Y 2022 for Advertising in Digital’ by TAM AdEx. AdEx is the advertising information systems (AIS) division of TAM Media Research.
Digital advertising is up 58% since 2018.
E-commerce was the top advertising category in 2022, and coaching and competitive exam centres and online financial services were new entrants in the top 10 categories.
Ad network was the most popular method for promoting ads, and HTML5 ads had the highest number of insertions followed by banners and video.
Of the top ten categories, online shopping saw an increase of 7% since 2021, and the software category saw an increase of about 6%. Amazon India, Grammarly Inc., Samsung India and Google were some of the other top new entrant advertisers.
Among the growing categories, smartphones saw the highest increase in ad insertions with a growth of 2.9 times followed by coaching and competitive exam centres with 2.1 times growth during the year. In terms of ad insertion growth, e-commerce, online shopping category witnessed highest growth among the top 10 i.e. 69%.
In a recent report, Dentsu had said that the domestic advertising industry has been growing at 18.1% since 2021 with a market size of ₹85,769 crore. The industry is expected to grow at a compounded annual growth rate of 15.07% to reach ₹1.13 lakh crore by the end of 2024, as per the report ‘Dentsu India Digital Report 2023’. It said there was a heavy skew towards digital mediums with digital advertising having a market share of more than a third of the entire market size at ₹29,784 crore, growing at a much faster rate at 39.5% over 2021. It is forecast to reach ₹51,110 crore, with a compounded growth rate of 31%, by 2024
