E-comm to offer USD 8 Bn opportunity for digital ads in India: Report

By Akshay Kedari  | Date: 2022-06-21

E-comm to offer USD 8 Bn opportunity for digital ads in India: Report

According to a recent study, e-commerce platforms are currently India's fastest-growing digital advertising medium and are expected to offer around USD 8 billion worth of opportunities by 2030. Roughly 300-350 million new online customers from tier 2 regions are expected to emerge by the same year, which would be a faster growth as compared to search and social media platforms.

According to Redseer, India's digital advertising market is anticipated to reach USD 35 billion in the same time frame, owing to the emergence and rapid expansion of various e-commerce platforms. It is worth noting that in 2021, India's overall advertising market was calculated to be worth USD 11 billion, with digital ads accounting for 37% of overall growth.

Experts believe that Gen Z and millennials are spending too much time on digital platforms, thus assisting the ad tech market's expansion, which is probably going to continue as more people interact on multiple applications, websites, and social media platforms.

To that effect, the study showed that the expansion rate of e-commerce platforms in the ad tech industry has increased up to 25% in the past 2 years while contributing around 20-25% market share.

Popular online marketplaces including Flipkart and Amazon currently account for a 75% market share for product e-commerce-driven advertisements. It is believed that the total advertising business, which includes traditional and digital ads, is expected to reach USD 45–50 billion by 2030, with digital ads accounting for an astounding 70–75% of that total.

The main growth factor behind the surge in India's digital advertising ecosystem is a sharp rise in digital consumption and penetration in Tier-2 cities. The report also stated that two other important factors that contributed to this expansion were an increase in GDP per capita and the emergence of D2C challenger brands.

Source Credits:

https://www.business-standard.com/article/technology/e-com-platforms-to-offer-8-bn-market-for-digital-ads-in-india-report-122062000379_1.html

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More >>

More News By Akshay Kedari

Tesla lays off 200 hourly workers as it closes its California office

Tesla lays off 200 hourly workers as it closes its California office

By Akshay Kedari

Tesla Inc. reportedly closed its San Mateo, California office to expedite cost-cutting and has let go nearly 200 workers who functioned on its autopilot driver-assistant system. Most of these employees were compensated on an hourly basis. Earlier ...

Around 2,900 Ford Lightning pickups recalled over software-linked issue

Around 2,900 Ford Lightning pickups recalled over software-linked issue

By Akshay Kedari

The recall covers 220 units of the electric pickup trucks in Canada and 2,666 units in the US. Ford has refused to accept any more orders and declared the EV sold out for 2022. Ford Motor Company has reportedly recalled the first batch of ...

Coca-Cola ranked the most powerful brand in U.S., as per the BSI score

Coca-Cola ranked the most powerful brand in U.S., as per the BSI score

By Akshay Kedari

The Coca-Cola Company, an American multinational beverage corporation, has reportedly secured a Brand Strength Index (BSI) score of 93.3 out of 100, making it the strongest brand in the USA, according to a TradingPlatforms.com analysis of the iconic ...

FDA to order Juul Labs to pull its e-cigarettes from the United States

FDA to order Juul Labs to pull its e-cigarettes from the United States

By Akshay Kedari

The U.S. FDA (Food and Drug Administration) is reportedly planning to instruct Juul Labs Inc. to stop supplying its e-cigarettes in the country. Shares of Altira, which owns a 35% stake in Juul Labs, fell to 8.5% after the latest development. For ...

U.K. seeking USD 935 million in damages from Apple for unfair practices

U.K. seeking USD 935 million in damages from Apple for unfair practices

By Akshay Kedari

Apple Inc. is reportedly facing a class-action lawsuit in the United Kingdom, which is seeking USD 938 million in damages, accusing the tech giant of mishandling its market dominance. Justin Gutmann, a consumer rights activist, is leading the case...