Mobile usage to drive India’s digital ad spend to $21 bn by 2028

With the significant surge in the use of smartphones and Internet, digital ad spending in India is likely to reach $21 billion by 2028, a report showed on Tuesday.Notedly, growth in user-generated content (UGC) will empower individual creators and influencers to build their digital identity, which brands can leverage for digital ads.This strong ecosystem of 2.5 to 3 million creators is expected to drive marketing spending of $2.8 billion- $3.5 billion by 2028, according to the report by Redseer Strategy Consultants.The digital ad spend in the country is set to observe a muted growth in FY23 due to macro factors, post which it would account for 65-70 per cent of overall ad spend in India growing at a CAGR of 19-21 per cent.”Upon mapping market sizing across media agencies, we observe a significant under-reporting of digital ad spend in India. However, our projection has considered enterprise spends, SMB spends, influencer marketing, affiliate marketing and gaming,” said Mukesh Kumar, engagement manager, Redseer.