India outdoor advertising market is anticipated to grow at an impressive rate during the forecast period on account of growing spending on display advertisements and growing utilization of indoor advertising for publicity in end use industries. The advertising industry is one of the most important segments of media and entertainment industry. Among its types, outdoor advertising has been one of the fastest-growing segments in the advertising space of India. It represents a high potential opportunity for outdoor media advertisers as brand owners tend to spend a great fortune over advertising and brand promotion as this method ensures a far greater consumer reach. Also, the Indian government provides remarkable support to the advertising industry. The improving market sentiments, supportive policies by Reserve Bank of India and the opening of newly licensed banks in India is opening doors to various opportunities for advertising expenditure companies in the financial sector.
Rapid development of infrastructure, including upcoming airports, smart city projects, malls, metros, bus shelters, public conveniences, coffee shops, along with increased advertising opportunities in tier-II and tier-III cities are major factors boosting outdoor advertising market in India. During events like Kumbh, IPL & elections, the demand for outdoor media advertising increases as the organisers seek to draw attention of people towards the event. Additionally, any event, which is not a part of a yearly predictability and plan, is more benefiting. One such example are general elections which come once in five years.
Along with growth factors, outdoor advertising market also faces challenges such as lack of strong monitoring systems, the unorganized nature of the media, a lack of strong research to prove the efficacy of outdoor advertising, a lack of transparency and a huge fragmentation in the market.
India outdoor advertising market is segmented based on type, demand category, region and company. Based on type, the market can be segmented into billboard advertising, digital outdoor advertising, lamp post advertising, bridge advertising, point of sale displays, transit advertising, others. Billboard advertising is the process of using a large-scale print to market a company, brand, product, service, or campaign. Its cost in India has no standard pricing and purely depends on the location. Billboards tend to have the highest number of views and impressions when compared to other marketing methods because they are usually put up in busy areas. Therefore, the segment accounted for significant share in FY2021.
Major players operating in the Indian outdoor advertising market include McCann Erickson India Pvt Ltd., GroupM Media India Pvt Ltd., DDB Mudra Pvt Ltd., Dentsu Communications Pvt Ltd., Law & Kenneth Saatchi & Saatchi Pvt Ltd., Ogilvy & Mather Pvt Ltd., Mullen Lowe Lintas Group, TLG India Pvt Ltd., Fcb Ulka Advertising Pvt Ltd., J Walter Thompson Co. and others. As companies look for better productivity and increasing efficiencies in a tough market environment, advertising plays a pivotal role in establishing brand image of an organization.
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