The new report by Expert Market Research titled, ‘Indian Digital Marketing Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Indian digital marketing market, assessing the market based on its segments like end-user industries and digital channels. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 4.5 billion (Global Digital Marketing Market)
• Forecast CAGR (2023-2028): 32.1% (Global Digital Marketing Market)
• Forecast Market Size (2028): 24.1 billion billion (Global Digital Marketing Market)
In the historical period 2016-2020, the digital marketing market saw considerable progress due to a considerable boom in the demand for smart devices, especially smartphones. There is also a considerably large young population, which has also led to a considerable shift towards newer technologies being adopted. With India and China emerging as major economic centres, there has been a general rise in economic prosperity over the years. As people increasingly rely on the Internet, the need for digital marketing has also increased considerably and multiple means are utilised by companies for it. In the future, the value of this market is expected to increase rapidly and so is the rate of growth.
Advertising using digital displays, like mobile phones, television, advertising displays, mainly using the Internet comprises digital marketing. The main activities involved in digital marketing include content marketing, search engine optimisation (SEO), search engine marketing (SEM), content management, social media marketing, display advertising-books, data-driven marketing, and e-commerce marketing. The means of digital marketing have also expanded to offline platforms like mobile phones (through SMS or caller-tunes).
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Based on end-user industries, the Indian digital marketing industry can be segmented as follows:
• Consumer Packaged Goods
• Real Estate
The market can be differentiated by digital channels into:
• Email Marketing
• Search Engine Optimization (SEO)
• Interactive Consumer Website
• Online/Display Advertising
• Blogging and Podcasting (Including Microblogging)
• Social Network Marketing
• Mobile Marketing
• Viral Marketing
• Digital OOH Media
• Online Video Marketing
As the popularity of social media rises amongst not just India’s youth, but also its senior population, marketing firms have had to redirect their advertising methods to target all sections of the population. Increased Internet connectivity and improved Internet speeds have helped people across the country to access content on the Internet, which opens newer audiences for marketing companies. As industrialisation increases across the country and more people are buying smartphones than before, there has been a further growth in audience on the Internet. The overall growth in the economy and schemes like Digital India are expected to cause considerable growth of digital marketing across India.
The major players in the market are Dentsu Webchutney, iProspect, WatConsult, ShootOrder, Gozoop, EveryMedia Technologies Pvt. Ltd, and Phonethics Mobile Media Pvt. Ltd, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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