The ad spend in India is forecast to grow by 10.8% in 2021 to reach US$9.0 billion, following a steep 12.9% decline in 2020, states Dentsu Ad Spend Report
TV continues to be the most popular media in India, with a leading 40.9% share of spend that shows resilience despite the pandemic and a 7.7% growth compared to 2020 spend.
Digital’s share of spend has grown rapidly, from 20.0% in 2019 to 29.4% in 2021, and is expected to reach 32.7% by the end of 2022.
The ad market is forecast to grow further 12.4% in 2022, recovering to pre-pandemic levels, particularly led by Digital and TV versus a longer recovery for Print, Cinema, OOH and Radio.
The report further states that ad spends in APAC is expected to grow by 8.0% or US$17 billion to US$229 billion. In the APAC region, Australia and India are forecasting high growth rates in 2021, The 2021 growth expected to exceed pre-pandemic levels in China.
Following 11.2% decline in 2020, ad spends in Australia are expected to recover in 2021 and grow by 12.7% to US$12.8 billion. The recovery has been much faster than expected in 1H 2021 – particularly for TV and Digital. TV is the key beneficiary of broad market ad spend in addition to Government Covid-related campaigns, whilst Digital ad spends been driven by a surge in retail advertising and will represent 61.1% of spend in this market.