The online advertising market in India is projected to reach Rs3,575 crore by March 2015, a 30-per cent rise from Rs2,750 crore posted as of March 2014, according to a study.
The study, Digital Advertising in India, jointly conducted by the Internet and Mobile Association of India (IAMAI) and IMRB International also finds that search and display are the top two contributors to the total digital advertisement spends in India.
By 2015, spends on video advertisements will grow 56 per cent on an annual basis and contribute 12 per cent to the overall market share of digital advertisements.
In FY ending in March 2014, the contribution of search spends reduced to 30 per cent of the overall digital advertisement spends contributing Rs 825 crore to the Rs 2,750 crore digital advertisement market.
The study estimates that the proportion of spends on search advertisements will reduce and spends will rise on e-mail, video and mobile advertisements.
According to the report, advertisement spends on mobile devices are growing at 43 per cent and social media at 41 per cent per annum to Rs385 crore and Rs440 crore in March 2014.
Spend on video grew at 51 per cent and reached Rs 303 crore, and spends on e-mail advertisements grew at 16 per cent to Rs 88 crore.
Further, on industry wise spends, the report finds that e-commerce, telecom and FMCG and consumer durables are the top three verticals driving the digital advertisement spends in India.