Indian ad market size is expected to reach Rs. 1.2 lakh crore by 2024 due to the expansion of digital media.

With digital media likely to develop at a quicker rate of over 16% to reach US$ 6.98 billion (Rs. 57,757 crore), the Indian advertising market is predicted to expand 11.8% to reach US$ 14.75 billion (Rs. 1,22,155 crore) in 2024. In spite of this, it is anticipated that traditional media—which includes TV, print, radio, and outdoor—will increase by 8.4% to US$ 7.78 billion (about Rs. 64,398 crore) and continue to account for 53% of all ad spending, with digital media accounting for the remaining 47%. The Magna Global Advertising Forecast 2024 report notes that India's traditional media market share is twice that of the global (29%) and APAC (24%) size, and digital's share of total ad spends could reach 50% by 2026.According to the Magna worldwide Advertising Forecast 2024 research, digital's portion of total ad spends might reach 50% by 2026, while India's conventional media market share is twice that of the worldwide (29%) and APAC (24%) sizes.With the greatest rate of growth in the world, India's ad industry is predicted to enter the top 10 by 2025 and rank 11th in 2024—behind South Korea. According to Magna, the Indian ad market would expand at a 10% compound annual growth rate (CAGR) to reach US$ 20.53 billion (about Rs. 1,70,000 crore) by 2028.

The research highlights several key drivers, including the car industry's anticipated increase in marketing activities, the performance of listed firms, and the FMCG sector's double-digit growth. A typical monsoon and more government expenditure are also anticipated to enhance rural demand and cause corporations to raise their advertising budgets. While digital media is still expanding quickly, traditional media—especially TV and print—is also anticipated to develop quickly, with TV ad revenues predicted to rise significantly.