New Delhi Nov 20 (IANS) Riding on growing demand for smartphones and falling data prices digital advertising spend in the country is likely to rise to Rs 13 000 crore ($2 billion) by December 2018 at annual growth rate of 35 per cent a survey said here on Monday.
According to the Assocham-KPMG joint study the digital ad spending is expected to witness an exponential increase from the current level of Rs 9 800 crore due to widespread availability of 3G/4G services and the on-going surge in internet penetration in the country.
"The digital advertising spend was estimated to be around Rs 7 500 crore at the end of 2016 " the survey noted.
"Around 50 per cent of their overall advertising spend was on digital followed by e-commerce telecom technology banking and financial services and insurance companies " it added.
The survey highlighted that the digital advertisement industry is growing rapidly as there is a growth in digital communication devices around the world and the increase in smartphones tablets is enabling advertisers to reach a wider audience.
"The digital advertisements are flexible and can be adapted for any kind of device like television laptop tablet or smartphone " the report said.
The two-way interactive capability and the ability to customise the ad for target audience also made digital advertisements more effective it added.
--IANS
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