The proportion of working population in India has been growing rapidly, thus having a significant impact on the way consumers are reached by the brand owners as they spend their maximum time traveling. The increasing personal disposable income and the change in taste and preferences of the consumers has led to high spending by the advertisers as they look to target a wide variety of audience with minimal investment.
The OOH advertising market has been treading the upward trajectory by growing at the CAGR of 4.8% from FY’2008-FY’2014. The revenue growth rate for physical and digital space in Germany has been consistently increasing in India for the period FY’2008-FY’2014, thus showing an increased acceptance of OOH as a medium amongst the brand owners. Digital OOH has seen the high growth trajectory as compared to physical as more and more advertisers preferred real time moving ads over static displays.
The financial crisis had made advertisers cut back on spending but the improved investor sentiment and the new government formation in India is expected to further drive the growth in the future years.
The growth of OOH Advertising Industry in India is majorly driven by the digital OOH segment, which had less contribution in the overall revenues of this market with a share of ~% in FY’2014 but had the highest growth trajectory with a CAGR of ~% over the period FY’2008-FY’2014. The video ads, which contribute significantly to the revenues of digital ad space, have been lauded for the growing revenues of India advertising market as a whole.
According to publication titled “India OOH Advertising Industry Outlook to 2019 – Digital OOH and Transit Media to Steer the Growth” by Ken Research, “The digital ad space which accounted for the second position in the OOH Advertising Industry in India, is likely to incline at a high rate in the future, owing to the trend of new innovative and customized solutions which are being provided to the brand owners by the major OOH players.
The report provides detailed overview on OOH advertising in India and helps readers to identify the ongoing trends in the key segments of the industry and anticipate growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants and analysts, OOH advertising companies, the major brand owners and the entire OOH industry value chain stakeholders to align their market centric strategies according to ongoing and expected trends in future.
Browse and Download Report Here- http://www.kenresearch.com/it-enabled-services/e-commerce-industry/india-out-of-home-advertising-market-research-report/542-105.html