The shocking revelation of India’s digital advertising revenue

We have experienced numerous effects in recent years and after the pandemic lockdown. It is impossible to predict what the future of digital marketing will look like due to the rapid change of the industry.

How much is the advertising industry worth in India?

Do you know that in 2021 around 24,000 crore Indian rupees were generated from digital advertising? According to a report In India, digital advertising generated revenue of about 246 billion Indian rupees. It was also reported that India’s total advertising revenue exceeded 700 billion Indian rupees in the same year, placing it among the largest markets worldwide for advertising. Considering the recent annual results released by Google India and Facebook India, it appears that India’s digital advertising revenue may exceed all expectations.

Data source

According to the recent report on digital advertising revenue, the two tech giants Google and Meta have made a whopping Rs 41,115 crore in 2021-22.

As compared with Rs 24,ooo crore the year before Almost 80 percent of the Indian digital market is dominated by Google and Meta.

Pitch Madison Annual Report (PMAR) 2022 speculated that Meta and Google would bring in more revenue than the entire digital segment combined. In India, PMAR predicted digital advertising to exceed Rs 33,070 crore, roughly one third of all advertising expenditures.

Another report by GroupM’s TYNY 2022, India is expected to become the world’s biggest advertising market in 2022, with digital media set to overtake TV advertising for the first time ever. During the year, growth of 33% is expected to drive the rise of digital media with a 45% share. 

Reasons

Small and medium-sized businesses (SMBs) have made significant contributions to promoting technology. While major corporations raised their digital advertising spend and industries like travel and hospitality, which did not advertise during the pandemic, began doing so in FY22. The e-commerce titans’ advertising revenues.

What is Digital marketing?

In simple words Digital marketing is the promotion of goods and services using digital resources.

Digital advertising is done through the internet and it is the easiest way to reach the target audience, Digital marketing and online marketing is about reaching the target audience in the least amount of time.

By using digital marketing, manufacturers not only reach their target audience but they can also see their activity like what is the need of the customers? What trend are they heading towards? These activities are analyzed through digital marketing only.

Also Read– Learn Digital Marketing in 15 Comprehensive Courses in one Place

What is the reason for the boom of digital advertising?

In today’s time everything has become online. Internet has made our life better and we are taking many benefits of internet facility through mobile phone and laptop, we do many things like online shopping, ticket booking, recharge, bill payment etc. with the help of internet.

Because of growing trend of internet many businesses are embracing the digital advertising. If we see the market stats approximately 80% shoppers do research on internet before buy any product and services in this situation digital marketing becomes necessary for any businesses.

Let us discuss some of the major reasons for the boom in this field of digital marketing

1- An increase in Internet usage: That the Internet has completely changed the way people buy the things they need and even the way various businesses sell their goods and services is now clear. A large number of people are migrating to use the internet to buy various services and goods including PCs, cell phones, shoes, clothes, gadgets and books. As a result of the growth of online businesses due to the increasing use of the internet, job seekers can now pursue a career in digital marketing. Internet usage has increased as a result of low internet costs and the affordability of smartphones for all. The number of people using the web has increased in the last ten years.

2- Simplicity of online purchases: The growth of online shopping in India is another important reason for the expansion of digital marketing in the country. Due to the fact that India’s e-commerce industry is still in its infancy, online platforms have undergone a complete transformation. Legitimate research has established that online shopping is the most visited category. Investors believe that investing in India is profitable as there has been an increase in the number of people showing amazing passion for online shopping. This has encouraged the growth of India’s online business market.

Why Digital marketing is Important?

It’s a 21^st century and we are living in modern society and internet is the part of our modern society internet is spreading like forest fire and that’s why digital marketing growing day by day. Due to corona pandemic people are refraining from going to market they buy things online, watch movies online and so advertisers show their products or services using digital marketing.

Digital advertising has been continuously growing since Corona’s debut. It has become clear that our country is moving towards Digital India and with this the foundation has been laid for the future growth of digital advertising industry. Since the price of mobile phones and Internet data packs has come down, the digital advertising industry has expanded and has become more accessible to everyone.

Digital advertising market on a global scale

In 2021, the value of the worldwide digital advertising market was close to $486 billion. the “Digital Advertising Global Market Opportunities And Strategies To 2031” research recently published, growing at a compound annual growth rate (CAGR) of 18.5% since 2016.

Globally, the percentage of digital advertising has reached 50%. According to experts, there is still room for growth in the Indian digital sector.

According to the India Brand Equity Foundation, Ministry of Commerce, India has around 6.3 crore (63 million) SMBs that are the backbone of the economy and essential job producers, contributing almost 30% to India’s GDP and employing more than 114 million people in the nation. Without a doubt, the digital pie will expand.

Can I choose digital marketing career as per above data, is it fruitful?

Yes, you can choose your career in this growing field. Most people don’t envision themselves working in digital marketing when they graduate from college. However, when you look at the possibilities in this fast-paced industry, you will see that career in digital marketing has a bright future and will remain so till 2023.

Since new platforms are continually being developed, one of the things that makes a career in digital marketing so exciting is how quickly it is changing. A manager of digital marketing is constantly monitoring trends to see how they impact search.

With 860,000 job opportunities, LinkedIn lists the “Digital Marketing Specialist” position as one of the top 10 most sought-after positions. Experience in social media, content strategy, SEO, analytics, and other aspects of digital marketing is in high demand. Because there are so many aspects to digital marketing strategy, the number of related jobs is vast. Indeed, the digital skills gap. In a LinkedIn survey, the U.S. found a shortfall of approximately 230,000 digital marketing professionals in major metro areas.

Also Read- Choosing a career is a difficult decision 2023. how do i decide?

Conclusion

To be honest, there is a lot of scope for growth in digital marketing. As per the statistics presented above, the potential of digital marketing is only increasing; It is not shrinking. With increasing job prospects, more and more people are getting employment in the field of digital marketing. However, due to the changes in digital marketing along with social and technological developments, you must upgrade your knowledge about it from time to time.