1. Digital Advertising Industry grew at a CAGR OF 28.12% over the last few years.
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The Digital advertising industry saw a steady growth over the period of 2016-2022 is expected to grow steadily for the next five years. Established platforms have started monetizing, with majority of the platforms still in the pilot phase of earning revenue through advertisement. Vernacular will constitute a major segment in the online advertising spend in the coming year, with brand realizing the awareness of marketing in localized content to tap the local audience for their product.
2. The Indian Vernacular Industry has grown rapidly over the last six years.
The Vernacular Market in India recorded a positive CAGR of 60.5% on the basis of revenue generated in between 2017 and 2022. Covid-19 bought a significant increase in the vernacular segment, with increase in digital penetration, high screen time and increase in content creators among others. Reducing internet charges, increasing digital literacy and high disposable income are driving the growth of Indian vernacular industry. The market is expected to grow further over the next 5 years owing to increase in monetization efforts, entry of new players and increasing rural digitalization and more.
3. The Southern Region is dominating the Indian Vernacular Market at 43%.
South Indians have higher sense of attachment towards their language and culture and Hindi being widely spoken in northern part explain the reason for highest share in South. Eastern region has the lowest share due to low population proportion and internet penetration. The southern market is expected to continue dominating the space. The west and east market is expected to be on the similar lines with a very slight increase over time.