There is a significant boom in the Digital sector in India. It is speculated that India has a high growth in the Digital Commerce and is expected to cross Rs. 2.2 lakh crore mark, by the end of December this year, reports as per the IAMAI (Internet and Mobile Association of India) said.
Again the report of IPG Mediabrands-owned Magna, said that India would very soon become the 10th largest Digital Advertisement market. Under the strong idea of digitalizing India, this prediction would be a soothing effect. The said industry is currently growing at 30% per year and by the end of this year, the same is speculated to reach 2.2 lakh crore mark.
Sources say that the previous year report stated the market was worth 1.68 lakh crore. It is found that the online travel section is the largest section in the digital commerce. This sector takes around 50% of the market share. As per the report, by the end of December, this section would be touching Rs 1,18,598 crore which is more than 24% of the current growth, which amounts to Rs.95,198.
The digitalization would create a mere sphere in terms of development in the market concept altogether which will enable the growth of the industry pertaining to the advertising factor as the source of demand creation and maintenance of the demand factor. The concept of digitalization has improvised the reach towards the customers and enabled the industry to reveal the aspect of the promotion of products accordingly.
The e-commerce industry will see the growth crossing Rs 94,964 cr. which means it will grow with the annual rate of 59%. Its worth was Rs. 59,876 in December 2016.
The online utility payment aspect would reach from Rs. 6,277 cr., recorded last year to Rs. 7,532 cr. The online booking of movies would grow up to Rs 4,587 crore till the end of 2017 sources said.
IPG Mediabrands-owned Magna reports that digital advertising market is about to reach Rs 56,400 crore. The annual growth is 11.5%.
When the growth relating to the digital advertising reaches 11.5% India would become World’s 10th largest digital advertisement market.
Currently, Italy is world’s 10th largest digital ad market. Countries like China (7% annual growth), Spain (7% annual growth) and even Russia (10% annual growth) would be beaten by India, pertaining to the annual growth in near future.
When the growth relating to the digital advertising reaches 11.5%, India would become World’s 10th largest digital advertisement market.
The industries which would induce digital spendings include social, fintech, payment banks, telecom, content distribution platforms along with FMCG, automobile, and e-commerce.
It should be noted that there might be obstacles in the annual growth due to the GST factor, however, once the phase is over (as it is temporary), digital ad industry will grow by 12.8% in 2018, and then 14% in 2019.
The growth will be seen based on the use of digital concept and India is been looked forward to be the source of development as a whole.