Telecom advertising in India leads to grow at 11% by 2023, Zenith says

India will become the fastest-growing industry for telecom advertising, with an annual growth rate of 11% between 2020 and 2023, according to a Zenith Media report,

This is a much faster growth rate than global telecom advertising, which is expected to grow at a annual rate of 4.5% through 2023, according to the Business Intelligence Telecommunications report released on Monday.

Telecom services and equipment include services and equipment that enable the transmission of voice calls and data over landlines and mobile networks.

As per eMarketer, nearly 31% of India's population owns a smartphone, and this figure is rising driven by the introduction of low-cost handsets such as the Jio phone.

Mr. Jai Lala, COO, Zenith India said, “The Indian telecom industry is estimated to grow rapidly in 2021 due to increased tariff pricing, data demand, increasing smartphone users, and, the introduction of 5G in the fourth quarter. This is expected to lead to a significant increase in media spending by the major players, particularly in television and digital media.”

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.